Concept FX

Hi Anddy

Any prediction for today? Yesterday was cool, but today started not so well...

What do you think about today`s trades?

Arek

anddy26 said:
Sandy are you interested in joining a few of us who are at different levels and want to learn this trade..we have a chat screen and a chart screen open ...and u can take control of my screen and show us ur theory...
some concept users some not..but concepts alerts are never discussed
Click to expand...
 
Arek

You are watching the trades too closely :)

Yesterday was a good day, in that all of them came good. One of the pairs only just missed out on its target, but with the alerts not coming until 8.30, it had already started to reverse the trend. If it comes back, it may hit the target again.

I think it will be the same with the other pair, as long as there is not any more violant oil shifts. I hope you had not started your trading on oil yet, as it was manic.

Stay with the system, and enjoy your day. If they come good, great, if not the loss will only make you a better trader.

jason
 
Stay Cool

Arek,

I agree with Jason, but on the other hand watching gives you a feel of all the ups and downs that go with trading, and familiarises you with all the emotions of greed and fear!

The IMPORTANT thing is to learn to stay cool and not do anything silly. Easily said, but much much harder to do. We need to be like Dr Spock in Startrek, dead cool. It takes a long time to develop this level of control.

Many a time I have thought I had got control of emotion, then things suddenly start "happening" in the market, all my trades start jumping around and a feeling of panic takes over. Sometimes it is actually harder to stay cool in the face of a huge unexpected profit.

Sandy
 
Arek Okrasa said:
Thank you SandyW

You and Jason are good guys!

Arek
Click to expand...

oi what about me..lol...Arek this is a roller coaster ride and you are going thru what we have and are still all going thru..i never ever bet on horses or football matches ...an odd 50p between friends but thats it...now im risking £200 at least per trade..and more depending if its oil or gold...so we can all relate to ur screen watching and twitchy fingers...i bet ur saying right noe..if i had taken profits yesterday at X amount ud be £xxx up ..now im only up half of it.............my own bank was way up yesterday then it swung way into the red this morning..except the one concept trade that is still in the black, but ive seen these swings many times...ive set my stops and objectives..key though is dont have too many trades open....dont look at the charts and kick urself for not getting in on this and that trade...........money is made and lost every single day .if you have time on your hands read some of the books these guy have suggested and traders dantes journal...again if anyone want his journal without all the garbage just say all 155 pages of it!..this chap is now a full time trader and 3 weeks ago never took a trade for 12 days!!!!! i used to take 12 every day..
 
Anddy...
SURE - You are the great man as well...only where we had a chat you were away...

But thank for your advice....do you know where can I find the duntes jurnal?

Anyone has some experience on Gann methodology?

Regards,
Arek

anddy26 said:
oi what about me..lol...Arek this is a roller coaster ride and you are going thru what we have and are still all going thru..i never ever bet on horses or football matches ...an odd 50p between friends but thats it...now im risking £200 at least per trade..and more depending if its oil or gold...so we can all relate to ur screen watching and twitchy fingers...i bet ur saying right noe..if i had taken profits yesterday at X amount ud be £xxx up ..now im only up half of it.............my own bank was way up yesterday then it swung way into the red this morning..except the one concept trade that is still in the black, but ive seen these swings many times...ive set my stops and objectives..key though is dont have too many trades open....dont look at the charts and kick urself for not getting in on this and that trade...........money is made and lost every single day .if you have time on your hands read some of the books these guy have suggested and traders dantes journal...again if anyone want his journal without all the garbage just say all 155 pages of it!..this chap is now a full time trader and 3 weeks ago never took a trade for 12 days!!!!! i used to take 12 every day..
Click to expand...
 
What is going on at 4pm at the moment. For the last two days, oil and gold have both crashed at this? I know at the same time it is doing some good for the forex trades, but would be nice to know what is happening.
 
jason0181 said:
What is going on at 4pm at the moment. For the last two days, oil and gold have both crashed at this? I know at the same time it is doing some good for the forex trades, but would be nice to know what is happening.
Click to expand...

Today it was just US news I think. Oil inventories up. I got stopped out on Oil and Gold.

Yesterday is a mist for me! But it all worked in my favour.
 
Gann Management

stevespray said:
Thought - Why not use search to look up Gann?
Click to expand...

Yes, I do. I spent some time with Gann Management in Stockport. Very good in their way. However their Gann methodology is highly developed and very complex and I would not recommend it, although they swear it is "the only way to go". If it works for them, fine, but I think the vast majority of traders would not find it helpful at all. I actually bought into their system and tried it, but I could not get on with it.
 
Sandy

I hope that tomorrow does not bring the same 4pm disaster. I will make sure I am out of oil and gold just to be safe. Alarms will be set all over the house to remind me.
 
I've noticed that concept have recently updated their results, could any of you concept users please confirm the accuracy of the results?

01-07-2008 25-06-2008 Sell EURJPY 168.7 166.2 250 £13 £3,250 £96,340
07-07-2008 01-07-2008 Sell GBPUSD 1.999 1.974 250 £8 £2,000 £98,340
 
jason0181 said:
Sandy

I hope that tomorrow does not bring the same 4pm disaster. I will make sure I am out of oil and gold just to be safe. Alarms will be set all over the house to remind me.
Click to expand...

I think the way to do it is to enter with two OCO stop orders, and set a tight stoplosses and a modest profit targets.

My success yesterday was (to be brutally honest!) a fluke. I was actually out of Oil, but had forotten to cancel a stop loss. That then triggered, putting me short, and by sheer chance I noticed and instantly took 300 pips at market! The sort of profit which is undeserved and should be given to Charity.
 
Masif1

If you look at the attachments on this thread, you will see that Anddy26 posted his results, and they match up with what Concept show. There will be another update coming very soon with a loss, and win or two wins.
 
You can also use the old ticket if you play with CMC market. IG and the old ticket at CMC gives the opportunity to set up your trade properly

It was good day for us...

SandyW said:
I think the way to do it is to enter with two OCO stop orders, and set a tight stoplosses and a modest profit targets.

My success yesterday was (to be brutally honest!) a fluke. I was actually out of Oil, but had forotten to cancel a stop loss. That then triggered, putting me short, and by sheer chance I noticed and instantly took 300 pips at market! The sort of profit which is undeserved and should be given to Charity.
Click to expand...
 
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