Concept FX

I am just waiting to collect the software from the post office on Saturday, and then I can start trading on their alerts. I wont be going with a huge deposit, but try and build it up over the next few months to try and get to those £10 bets. First success will be paying off the initial outlay for the 'software'.
 
Yes the first success will definitely be paying off the initial outlay. I'm only trading small also, 4k deposit, so it will certainly be 6 months at the very least unti its paid off. However I'm hoping it keeps going the way it is for a couple of years, and then the pot will have grown sufficiently to be getting very nice returns.
 
Obviously getting my initial outlay back in 6 months is only currently a dream! But I'm up about 20% so far so fingers, legs and everything else is crossed.
 
ur all coming out of the woodwork now!...lol....nice to see i have fellow fools here..im not bothered what the pros say..lets make hay while the sun shines.
 
concept fx

Hello LookUpLeg,

Could you tell me one thinkg please. When you use the software how many hours you should spend in front of the computer... Is better to stay all day long or you can set up everything and go away...or go to work lets say... What is your opinion about?

Thank you,
Arek

I myself have decided to take the plunge with Concept FX. Been running around a month or so, and not too bad so far. There's been a couple of howlers (EURGBP) that lost both time rapidly, and a few others that I didn't take (thankfully) because they didn't make sense (ie system already long EURUSD, and telling me to short GBPUSD). I missed one good entry because I couldn't be arsed to setup my platform on a Sunday night, and the entry was trigged at 7am on the Monday, when I was still asleep. One trade is open at the moment. Been negative all day, however in the last 15 mins it has just about turned positive.
I'll personally be giving this system 6 months, but so far so good.
One very frustrating point is Concept seem to take an age to update their results page on the website, so I'm still a little dubious about the results. However time will no doubt tell.
 
concept fx...time work

Hello Anndy26,

You have the longest experience...of using the concept fx. Could you tell me how many hours you should spend in front of the software. Can I do part-time job as well or shell I forget about since I will get the software? ... What is your opinion about?

Thank you,
Arek

ur all coming out of the woodwork now!...lol....nice to see i have fellow fools here..im not bothered what the pros say..lets make hay while the sun shines.
 
Good Morning Arek

The secret of this software is very simple but in reality our human nature kicks in and makes this game so dammed addictive.
As newbies we want to be ''in the game'' and have our charts up and try and work out the software or look at our own small trades we put on and keep flicking back to our spread account to see if its still black or red figures then its back to the charts and so on BUT WE SHOULDNT...

The alarts come thru at 8.30pm gmt you look at the screen which has 6 pairs on it...the most ive ever seen is 2 live or pending orders triggered and one order which has finished and we have to close a wee box on our screen..you work out your risk; i use 5% of the bank then the stop loss which gives you the £/pip then log on to your spread betting account platform//

insert your figures and go back and watch telly.........thats it !...BUT it doesnt have to be done at 8.30 at night either..do it the next day or later at night..because these trades are not an immediate thing..this is swing trading and the price may take 3-5 days before it triggers.

for the last month this has ruled my life but i have seen the errors of my ways..now im placing the trades and letting the system work..............so in short Arek about 20 mins a day .
 
Andy

I will be taking your advice too, and not letting this thing rule my life. I am keen to understand the markets, and how it all works, but for the forex market, I just want to place to bets and hope for the best.

I have been caught up in over trading the past few weeks, and going on emotions. I am sure you can guess, I have lost (but still in profit overall). Stupid thing to do, and I know it, so time to be disciplined and focus and let concept do the hard work.
 
You have safed my life - Indeed - Undoubtedly - Thank YOU for the informations!

As i said - You the star!!!

Arek

Good Morning Arek

The secret of this software is very simple but in reality our human nature kicks in and makes this game so dammed addictive.
As newbies we want to be ''in the game'' and have our charts up and try and work out the software or look at our own small trades we put on and keep flicking back to our spread account to see if its still black or red figures then its back to the charts and so on BUT WE SHOULDNT...

The alarts come thru at 8.30pm gmt you look at the screen which has 6 pairs on it...the most ive ever seen is 2 live or pending orders triggered and one order which has finished and we have to close a wee box on our screen..you work out your risk; i use 5% of the bank then the stop loss which gives you the £/pip then log on to your spread betting account platform//

insert your figures and go back and watch telly.........thats it !...BUT it doesnt have to be done at 8.30 at night either..do it the next day or later at night..because these trades are not an immediate thing..this is swing trading and the price may take 3-5 days before it triggers.

for the last month this has ruled my life but i have seen the errors of my ways..now im placing the trades and letting the system work..............so in short Arek about 20 mins a day .
 
recent trades

Ok im thinking of upping my bank trades due to these recent results,

the figures i have should be the same as concepts when they update theirs..Notice the amount of trades in a month..thats why we shouldnt be glued to our screens with this system
 

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  • concept fx results from 29.05.08.xls
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Arek

I have not yet used the system, but can confirm Andys comments on how it is used, based on the demo I recently had at their office.

I intend to do the updates each day, and place the bets, and not spend more than 20-30 mins a day. i may spend some time later looking at the trends that have picked up in the system, and try to understand their technical analsys, so that I have better knowledge of the markets, but not to second guess their trades.
 
Andy
What was your starting bank? Are you going to up your stake to increase your risk to more than 5% of the total, or reuse the profits so far?
 
starting bank was 2k but going to use a 6k bank now and use 5% which is £300 risk per trade.
 
I was going to start with a 2k bank as well, but may transfer some money I have in a shares ISA back out, as it is only going down, and then use that as well.
 
Hi Ason

How long you can used the demo...is it only the time when you spend with them at the presetation? About 45 minut...or is there any longer posibilities...?

Thank you,
Arek
Arek

I have not yet used the system, but can confirm Andys comments on how it is used, based on the demo I recently had at their office.

I intend to do the updates each day, and place the bets, and not spend more than 20-30 mins a day. i may spend some time later looking at the trends that have picked up in the system, and try to understand their technical analsys, so that I have better knowledge of the markets, but not to second guess their trades.
 
Andy, let me get this straight - do they suggest the stop or do you set it?

The stop loss distance is set out by them..they are the figures below
eg 6k bank with a 5% risk is £300 risk per trade so EURJPY has a 100 pip stop loss i would put on £3 per pip

GBPUSD 150
EURCHF 85
EURJPY 100
EURUSD 75
USDCHF 120
EURGBP 40
 
Arek
I was with them for about an hour having a demo on the system. Unfortunatley they do not have any way of using the system at home before commiting to a purchase.

There is not much at all to the system, apart from one screen that show the 6 pairs, and what you need to do with them if there is a trigger to bet.

It almost seems too simple, but it does look as it the figures are correct.
 
The stop loss distance is set out by them..they are the figures below
eg 6k bank with a 5% risk is £300 risk per trade so EURJPY has a 100 pip stop loss i would put on £3 per pip

GBPUSD 150
EURCHF 85
EURJPY 100
EURUSD 75
USDCHF 120
EURGBP 40

Right, thanks. That explains why they don't trade the USDJPY - too volatile for what must be daily-based signals.
 
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