Concept FX

The Concept EURJPY history

As a matter of interest, the Concept history shows that of all the 6 pairs the EURJPY is the wildest. If you look at this pair on its own during the "results" period (up to 9 Jun 08) it produces the most horrendously jagged equity curve. There were long heavy draw down periods. On the other hand there were some spectacularly profitable trades. Over the sequence of 49 trades there were 17 wins, 28 losses and 4 breakeven, with an average profit per trade of £3056 and average loss £1036.
 
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Hi jason0181

I started with 25k. It's not my life savings, I can afford to lose it, but by applying the 5% risk rule I don't intend or expect to do so. I know that starting with a smaller bank would have been more prudent, however, I'm in a situation where I have a decent amount of capital (having sold my business) but now need to generate an income. It needs to be at least 25k bank to generate the sort of income I need.

The concept fx system doesn't take up much of my time and I'm looking at other 'systems'. It was suggested earlier in this thread that 'newbies' were stupid to pay money for systems like conceptfx, and that we should buy a few books, look at charts, etc. I personally don't have the inclination or desire to pour over charts and spend hours reading books. Maybe I'm lazy, but I'd rather just crack on and trade rather than spend months in 'research', and if someone else has done all that hard work and is selling the fruits of their labour, then I'm prepared to pay for it. I don't take the view that because you pay for something then it must be a 'scam' although clearly there are scams out there. In my experience scams tend to be lower priced, low enough for you not to bother pursuing it if you get caught out.

It was also said earlier in this thread that there are good robust 'free' systems out there. Anyone care to name these?
 
Hi gav2e

If you are looking for another system maybe GannManaement will work for you? I don`t have any experience on it but I was on they course and it looked interesting. The software cost around £3k and if you put £10k into your account the company will give you tips..where/when to place trade and were to stop...etc

You can have a look and ask people around. Probably after few months i will buy this software because when you use it you also lern and (probably) finaly you can start work as a confident trader...

Itis good to hear you trade with £25k

Regards,
Arek


gav2e said:
Hi jason0181

I started with 25k. It's not my life savings, I can afford to lose it, but by applying the 5% risk rule I don't intend or expect to do so. I know that starting with a smaller bank would have been more prudent, however, I'm in a situation where I have a decent amount of capital (having sold my business) but now need to generate an income. It needs to be at least 25k bank to generate the sort of income I need.

The concept fx system doesn't take up much of my time and I'm looking at other 'systems'. It was suggested earlier in this thread that 'newbies' were stupid to pay money for systems like conceptfx, and that we should buy a few books, look at charts, etc. I personally don't have the inclination or desire to pour over charts and spend hours reading books. Maybe I'm lazy, but I'd rather just crack on and trade rather than spend months in 'research', and if someone else has done all that hard work and is selling the fruits of their labour, then I'm prepared to pay for it. I don't take the view that because you pay for something then it must be a 'scam' although clearly there are scams out there. In my experience scams tend to be lower priced, low enough for you not to bother pursuing it if you get caught out.

It was also said earlier in this thread that there are good robust 'free' systems out there. Anyone care to name these?
Click to expand...
 
Gann Management

The Gann Management system is not a mechanical system, still less a black box system. And it is expensive. You make your own choices of instrument and your own trading decisions on size, entry, stops and targets. The software they give you, which is neat enough, simply offers you the data and tools you need to trade using their development of Gann's methodology. It involves a lot of work on the trader's part. The method must work for some people, and I am not suggesting otherwise. But I used it and ended up concluding that for me it was all smoke and mirrors.
 
Hi GAV2E,
I would suggest you carry on with Concept but the problem is you HAVE to do it every single day. Christmas, New Yrs, NO CHANCE !!
On the plus side, Concept cap their bank at 25K every year... You could just leave your profits in and experience the power of compounding !!!
 
I too got the email, but it came from a T2W email address. Am i missing something? I thought it had been approved/sanctioned by this site?
 
Concept have updated their results, but haven't included yesterdays stop out of EUR/CHF:

28-07-2008 24-07-2008 Sell EURGBP 0.7895 0.7925 -30 £31 (£930) £99,805
29-07-2008 24-07-2008 Buy GBPUSD 1.986 1.978 -80 £8 (£640) £99,165

So including yesterdays stop out of the EUR/CHF, Concept have made 270 pips for the month of July.

Can anyone confirm that?
 
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Sorry masif1,

The email offering to sell software from concept-fx. I was looking at earlier meesages in the thread (bloody newbies eh! sorry), an people were suggesting it was a scam?
 
Capping the bank

Let's be clear. The Concept results show the TRADING BANK capped as soon as it reached at £25000. The trading bank then stayed at £25000. And even if they had a draw down on the bank, the notional trading bank for staking purposes, stayed at £25000. Surplus money over and above the £25000 is shown as held in the bank, and only withdrawn at year end, but it was not used as trading capital in the context of the 5% stake. There is no obvious reason they did this, other than comfort. If I were in that happy situation I'd use any monthly surplus to buy gold bullion! Even more comfortable than leaving it in a bank of all things! And you wouldn't want to leave it in the tender care of your SB company, would you?

Obviously, you may start out with any bank size you can afford, and cap your trading bank at any figure you choose, higher or lower. And you may of course withdraw your profits in dribbles to buy your loved one regular gifts of jewellery, or take them out in a big lump for her new car at Christmas.

Apologies if this is just stating the obvious, but the way Concept have shown the bank rising until year end does seem to have confused the issue.

effem said:
Hi GAV2E,
I would suggest you carry on with Concept but the problem is you HAVE to do it every single day. Christmas, New Yrs, NO CHANCE !!
On the plus side, Concept cap their bank at 25K every year... You could just leave your profits in and experience the power of compounding !!!
Click to expand...
 
Every Day ?

effem said:
Hi GAV2E,
I would suggest you carry on with Concept but the problem is you HAVE to do it every single day. Christmas, New Yrs, NO CHANCE !!
On the plus side, Concept cap their bank at 25K every year... You could just leave your profits in and experience the power of compounding !!!
Click to expand...

Well ,surely you dont HAVE to run Concept every day. -- just arrange ,-- by planning ahead --that no trades are running when you need your holiday. It will be there to restart when you come back, but statisically you will have lost the possiblity of profit or loss while you are away.
 
Just get the dog, cat, parrot or monkey to place the trades on your behalf, whilst your away :LOL:

explorer626 said:
Well ,surely you dont HAVE to run Concept every day. -- just arrange ,-- by planning ahead --that no trades are running when you need your holiday. It will be there to restart when you come back, but statisically you will have lost the possiblity of profit or loss while you are away.
Click to expand...
 
Hi Everyone,

I too have received the email regarding Concept-FX. Welcome to Concept-FX - Forex trading analysis software

Is there anyone out there actually using it? Can anyone vouch for the results posted and would anyone be willing to inform us how much the software costs?

Is it easy to use and how much time does it take to implement? Sorry for all the questions but as a newbie was wondering if this was something worth pursing?

Thanks
 
Hi,

You have obviously not read this thread! If you do you will find people who are using Concept-FX and feel content that they are on the right track. We can see that the results as they are posted on the Concept website match up with the trades we are doing. If you need to know the price, you should contact the Concept vendors. Be prepared for a shock of the wallet hitting kind. The system is seriously easy to use.

Best of luck, hope you join in.

vnobeen said:
Hi Everyone,

I too have received the email regarding Concept-FX. Welcome to Concept-FX - Forex trading analysis software

Is there anyone out there actually using it? Can anyone vouch for the results posted and would anyone be willing to inform us how much the software costs?

Is it easy to use and how much time does it take to implement? Sorry for all the questions but as a newbie was wondering if this was something worth pursing?

Thanks
Click to expand...
 
Current Trade

Amazing! The trade triggered, turned on a pinhead and instantly bounced into profit! 77 pips as I write. Go, go,go.
 
And that is the one trade that I did not have to open. Trust me to miss out on the good ones.

I should have stayed at home instead of going to see the new batman film. It was not very good if you are thinking of going.
 
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