Concept FX

[pvisser]

ConceptFX have most certainly been through a rough patch, although I notice they are identifying more potential trades lately. The recent EURCHF lost me 50 points but the EURUSD gained 70 (after I adjusted the stop loss down more than they suggested.) We'll see what happens with the latest offering.

FAPTurbo. I have been using this for a couple of weeks on a server with broker ODL and MT4 platform having some success.
However, today I received an email as follows:
'unfortunately odl does not allow fap turbo scalping systems on our mt4 guaranteed fixed spreads we do however have a direct no dealing desk ecn to the interbank , which you may run your system on if you require this please contact your client manager at odl and they will advise and provide sir at present your fap turbo dealing account has been suspended please question how the system makes money and why we have disabled this'

I have spoken to one of odl's advisers who said that too many people were using FAPT and the system couldn't handle it. He also said the robot picks up wrong prices and uses them.

On offer instead is MT4 Pro with direct market access. I'm not sure what this will entail, but odl seem to be saying that FAPT should work ok with this.

I admit I am a little out of my depth here and would welcome any thoughts on all this plus any suggestions on a possible way forward.

FAPT has been performing without a glitch on alpari UK. You have to invest £2000 mimimum with ODL pro and it uses variable spreads directly from their liquidity provider. This does mean that the spreads are sometimes tighter, but at times they really get out of hand. I have heard of 20-30 pip spreads which will be useless for FAPT.

Get Alpari UK since they only ever change their spreads by 1 or 2 from the fixed prices and you can start trading with as little as £200 instead of £2,000 on ODL Pro.

 

[SuMe]

Hi Guys, Got an email abt Concept FX and was googling it out ... and stumbled on this thread and read a good part of the first 60 odd pages. Just wanted to thank u regulars for the info provided !

 

[forexsniper]

I noticed some active people here also on the FX53 thread. Are there any users who are/have used both now/at some point?

Just wondering your thoughts on which is better as an overall End Of Day trading system.

Thanks.

 

[bigphil22]

Gone quiet again

The past few weeks the signal cam thick and fast but now nothing for a week almost.

Same for u others?

P

 

[pvisser]

I tried running tried updating the signal tonight, but it says that my username and password are incorrect even though I know it's not. Has anyone else had this problem or is this just with me?

 

[rwhittington]

I had exactly the same response.

 

[bigphil22]

I tried running tried updating the signal tonight, but it says that my username and password are incorrect even though I know it's not. Has anyone else had this problem or is this just with me?

Exactly the same.

They have probably done a runner to somewhere sunny.

 

[bigphil22]

I tried running tried updating the signal tonight, but it says that my username and password are incorrect even though I know it's not. Has anyone else had this problem or is this just with me?

Just had this from Concept:

Dear Member,

Our sincere apologies for the technical problems with tonight's update.

The only change to yesterday's update is that the EUR/JPY trade has been cancelled.

There is currently a problem with the servers of the hosting company, meaning this evening's update has not been completed as yet. We have been assured that the problem will be resolved asap, and is being worked-on at this moment.

Best regards,

The Concept-FX Team

 

[stevespray]

Very nice that Concept users were long EUR/CHF from 8.05am this morning. :clap:

Steve.

 

[bigphil22]

Very nice that Concept users were long EUR/CHF from 8.05am this morning. :clap:

Steve.

Very! Placed the trade, forgot about it, just got home from work and checked it. Nice result.

Phil

 

[pvisser]

Very! Placed the trade, forgot about it, just got home from work and checked it. Nice result.

Phil

Hi all,

I just checked the trade and was absolutely stunned! It got knocked in then knocked out in less than 24 hours. The exact oposite to what it was doing six months ago lol.

I still think it'll work. Combined with using FAPT my accounts are growing nicely and I spend about 4 minutes a day in front of the screen. I went on holiday recently and I simply went online once a day to check how much I have made.

People always knock these systems, but so far this year it's all I have been trading with and my account growth looks very healthy. People have to bear in mind that software and computer systems are at a very early stage of their development (15 years??) so of course these trading systems where you make money with mimimal effort haven't been around. If they can make artificial intellegence in computer games they can definately create trading software which works.

 

[stevespray]

The only strange thing is that I dont normally enter the limit target until I know that the trade has triggered (so I can watch it). For some reason last night I entered the limit order as per the target shown. If I would have done what I normally do I'd be sitting on about £7.5k now instead of £2.8k

Steve.

 

[bigphil22]

Current EURJPY trade

I have to admit, I can't see the logic behind this one Can anyone enlighten me?

Phil

 

[stevespray]

I have to admit, I can't see the logic behind this one Can anyone enlighten me?

Phil

Firstly I have to say that I am always more worried about the trades when they trigger so late in the day like EUR/JPY has tonight (especially 'break-out' type triggers where we enter in the direction of the price movement joining an established trend). These trades seem to work best when they trigger early mornings and then trend most of the day.

Having said all that....

The daily chart looks good - a nice tight consolidation after a bounce from the low which I would imagine has a good chance to tracking back to the highs of its longer term range just below 130.00

Todays daily candle is a fairly nice 'pin bar' for people who follow that kind of thing.

The indicator showing in the software is 11 which means "Technical Break Through Horizontal Resistance" - In this case I'm not sure that it really broke it (given that it hit the level so late in the trading day). The overnight Asia session might give us more clues as to how much strength this really has. We're certainly holding above the highest daily close of the year so far so again this is pretty positive.

Steve.

 

[pvisser]

The only strange thing is that I dont normally enter the limit target until I know that the trade has triggered (so I can watch it). For some reason last night I entered the limit order as per the target shown. If I would have done what I normally do I'd be sitting on about £7.5k now instead of £2.8k

Steve.

Is there a reason behind this? Wouldn't it be easier to simply enter the limit then just check concept at 8:30pm? I even find this to be an effort these days lol.

I set concept up on my VPS which basically means I can access it from any computer with internet. I set my mum up with an account and now she simply enters the trades for me.

Phil are you using FAPT yet?

Does anyone else still use concept apart from us three? It's been very profitable so far this year so I can't imagine that people who have are not using it...?

 

[alan5616]

Does anyone else still use concept apart from us three? It's been very profitable so far this year so I can't imagine that people who have are not using it...?

Most of those who were using it, last year, may have lost the £ in their trading accounts when the system was failing to deliver. It's difficult to have confidence in any system thereafter. You could be the only three left.

 

[pvisser]

Most of those who were using it, last year, may have lost the £ in their trading accounts when the system was failing to deliver. It's difficult to have confidence in any system thereafter. You could be the only three left.

I joined at the worste possible time when we had several losses over the four or so months and my account wasn't wiped out. There was no point last year where you would have lost the money in your account unless you risked an obscene amount. Even if you risked the 5% that they reccomend (which is very high) your account would have had a 40% drawdown. That drawdown has been made up now if I am not mistaken.

So there is no way that you could have lost everything in your account. Still people should not have risked 5% per trade with such a new system. I stand by the fact that I think it's profitable, but I do NOT reccomend buying Concept if you are going to be trading with less than £10k. I made this mistake, because I do not have that kind of money. Now that I have the system though (which is making me money) I might as well use it.

 

[bigphil22]

Phil are you using FAPT yet?

No.. I have it but I haven't opened a live account yet... I ran it on demo for a while and I read the posts on the members forum but to be honest I'm short of play money after my earlier **** up when I entered £15 a pip on a completly speculative loosing trade istead of £1.50...

Haven't told the wife about that one yet :whistling

I could do the same as Sandy and start with £100 but that's a bit low.

Phil

 

[miskec]

No.. I have it but I haven't opened a live account yet... I ran it on demo for a while and I read the posts on the members forum but to be honest I'm short of play money after my earlier **** up when I entered £15 a pip on a completly speculative loosing trade istead of £1.50...

Haven't told the wife about that one yet :whistling

I could do the same as Sandy and start with £100 but that's a bit low.

Phil

hehe everybody in forex trading has problems with his wife. stay single and trade happily forever :clap:

 

[pvisser]

No.. I have it but I haven't opened a live account yet... I ran it on demo for a while and I read the posts on the members forum but to be honest I'm short of play money after my earlier **** up when I entered £15 a pip on a completly speculative loosing trade istead of £1.50...

Haven't told the wife about that one yet :whistling

I could do the same as Sandy and start with £100 but that's a bit low.

Phil

I have two accounts with FAPT and both are live. I funded the latest one with £400. To be honest I could have funded it with £200-300, because FAPT is doing so well. My biggest loss on that account was £13 this week with a trade at 0.03 lots. I have switched it over to MM now though so I am just going to be watching to lot sizes increase.

The money I paid for FAPT has already been made up so I think the product is brilliant. Don't be too afraid to put money on it. I do think £100 is risky though lol. I might just open another account and stick in £150 and set the lot size really high to see what happens. Whow knows it could be fun!