Well said Simon!
Well said Simon!
or Sandy, why not start your own thread [ diary, journal ] of your progress and discoveries in the fascinating world of trading robots?
I could I suppose, and did think about it, but it is one thing to share with friends and respectful people, many of whom I found on this thread, and another having to stomach all those idiots who just join forums for the sick fun of being abusive and insulting. There are too many of the latter on T2W. I think the sort of updates I am posting here (as long as this thread has followers) are as much as I want to do, and I think I say enough to motivate others to explore forex trading with robots. I think Donna's forum, which I have referred to previously, is more valuable than anything I could attempt.
Most people who have followed this thread will know that I have been a supporter of concept and given it thhe benfit of the doubt. I simply wanted to see how it performs over a long period of time. Last year I was bitterly dissapointed and put it down to volitile trading conditions, but according to their results it made a huge profit.
This year started off OK, but now I have finally given in. In six months all it has achieved is £3,670 from an account size of £25K. What is the point? In just under two months I have made more than 50% by trading EAs which is no credit to me, because I am just sitting back watching my accounts grow.
Concept is dead and buried as far as I am concerned.
This year started off OK, but now I have finally given in. In six months all it has achieved is £3,670 from an account size of £25K. What is the point? In just under two months I have made more than 50% by trading EAs which is no credit to me, because I am just sitting back watching my accounts grow.
Concept is dead and buried as far as I am concerned.
Peps Market
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Thats what I like about the fourm.
We can save a lot of time and money buy Listening to thoes who know
Thanks for the heads up.
Keep up the good work and happy trading.
Never stop learnig.
Thanks again.
PEP
We can save a lot of time and money buy Listening to thoes who know
Thanks for the heads up.
Keep up the good work and happy trading.
Never stop learnig.
Thanks again.
PEP
I bought Concept having had some success with Tradewin before the "market" changed, so I thought it was legit as a product. Fortunately I dumped Concept before I had any trading losses (which were actually only avoided by my manual intervention). And I did retain some profit from Tradewin. It must be said though that having paid £4000 for Tradewin and £2000 for Concept (as a Tradewin user I got a 50% discount) I was definitely out of pocket to the tune of £6000. This loss I have now just about made up using EAs.
I did know of the golf system, and the horseracing system, and did consider Goldline. Fortunately I had managed to link them all to the same source, so never bought Goldline. What I did not realise was that the Tradewin (and subsequently Concept) guy was the originator of those other systems. If I had I would never have got involved. As it was I did go to the St Albans office to get a feel for Tradewin and met Jeran, who seemed a decent guy. He told me the boss, who claimed 20 years successfully trading the financial markets, was too busy trading to see me! I bought both his story and the ruddy product on the spot, with dollar signs rolling in my eyes! Later I bought Concept on-line as a result of their offer.
That said, I am most certainly guilty of not doing due diligence with both Tradewin and Concept. That would be foregivable if they had cost say £100 each, but not at £4000 or so. I was taken in by the historical "results", and although I thought they were largely backtests, I was greedy and "wanted to believe"! I did a lot of analysis of the results and they looked plausible, but there was never any real evidence of how they were achieved. Of course early buyers of Concept did have some success, but I wasn't one of them.
As for the system, I did see that it was just a one year signals service, but only after I had bought. The idea that one was buying a sophisticated trading program and getting free market data was a key sales theme, but effectively a blatant lie.
The vendors are very clever and very tricky people. They hide away behind a smokescreen, and you never get to know who the principal is. The product is also sold as "educational" rather than as a real trading system. So one way and another they are fireproof.
At the end of the day, I have to say that my failure to do due diligence was MY failure. A fool and his money are easily parted.
I only started to read this thread after buying Concept in July 08. Even so, what a pity that all the "knockers" in the early days just pushed out negativity, personal insults, and general derision towards all black box systems, rather than giving some hard facts about this particular system and its background, such as we now have.
I can see their problem, but I really wonder if it is ethical for websites such as T2W and ADVFN to participate in the marketing of such blatantly abusive products.
Ironically the moderators wanted to knock this thread on the head at the outset on the basis that scanjet was a spammer. Strange as T2W has actively facilitated marketing of the product!
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EAs stand for Expert Advisors and they are automated trading software applications for Meta Trader 4 which is a trading platform predominantly for forex trading.
Willy
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And after that some more horse racing again, called "The Inner Circle" by Dean McKeown.
See Dean McKeown Inner Circle
I received an email about this about a month ago. Not only using the same typeface as Concept FX (they're not that clever) but also a first name I had supplied to Concept FX only.
Hi Steve,
I think you have now had ConceptFX for over a year. Are you still trading with it? Did they ask you for the £500 renewal fee for "data"? It would be interesting to know what account growth you have achieved over the year, and whether you still have the confidence in Concept that you used to have. You were always so keen to keep going in the face of losses.
Sandy
When I posted my original warning email I hadent realised the extent of the TradeWin/Concept scaming enterprises. I had heard of Goldmine but thought this was yet another scam company not out of the same stable. I have followed the link provided above looking for connection clues between the businesses and low and behold on the privacy terms and condition page I found the folowing.
"The data you provide is captured and processed on our behalf by TradeWin. TradeWin is based in the UK. TradeWin has high levels of protection for your information, including the security of the database on which your information is stored and the privacy of your information."
They are therefore posting false and misleading info as companies house states this business was disolved in April this year having gone through the due six month public notification period.
This needs to be bought to the attention of Trading Standards or another authority but not sure who???
Sandy's comments regarding due diligence are certainly correct in my case, in the early days this thread see sawed from the knock anything brigade but no hard evidence to support their views to the figures stack up on this one give it a go. I myself bought in on the strengh of the later viewpoints and relied on others doing the due diligence, lessons learned.
On a seperate tack over time this thread will disappear due to the lack of Concept users and we all contribute or follow other threads dependent on our varied trading interests however most have now progressed to trading EA's with various degrees of success and could post results advice and tips that would be useful to all. Anyone with any thoughts on setting up a new thead to keep the community together.
Simon
Sandy,
I didn't realize that TradeWin and Golfing/HorseRacing/Goldline/Con FX were always the same company - I thought they only joined up for a special promotion. I even asked Jeran if they were in any way connected because I said I wouldn't buy it if they were - he said they weren't - he also said that he didn't realize the Golfing company was the same as the Goldline company - just goes to show eh!
Perhaps we should all start a campaign to demand ADVFN stop their relationship with this dubious company (whatever their current name) - but difficult to demand this as they have not done anything illegal - perhaps ADVFN are CON FX !!!
Kevin
I didn't realize that TradeWin and Golfing/HorseRacing/Goldline/Con FX were always the same company - I thought they only joined up for a special promotion. I even asked Jeran if they were in any way connected because I said I wouldn't buy it if they were - he said they weren't - he also said that he didn't realize the Golfing company was the same as the Goldline company - just goes to show eh!
Perhaps we should all start a campaign to demand ADVFN stop their relationship with this dubious company (whatever their current name) - but difficult to demand this as they have not done anything illegal - perhaps ADVFN are CON FX !!!
Kevin
Having spent several years trading commodities, forex and the stock market one thing is clear. That is, the performance of a commercial trading system tends to be in inverse proportion to its cost. Strange, you may think. After all, that expensive BMW is better than that cheap Fiesta isn't it? If the system costs $7k its sure to be twice as good i.e. profitable, as that one over there at only $3.5k Sure to be ten times better than the $700 system. As for the $70 dollar systems, forget it. Sure to be complete rubbish.....
Unfortunately, this is what the marketeers rely on. And they, sadly, are whom you are likely to find yourself buying from when you buy expensive systems. They are almost invariably marketeers, not traders.
As for the geniune traders who have systems that do work - well, you'll find them selling them down at the $70-$200 end of the scale. This is the area you would be advised to study if you can't or won't trade price action off your own bat. They trade their systems themselves, fully support them and get a buzz out of showing others how to follow their success.
I won't be naming them. At the beginning of the thread I nearly got lynched by a hanging posse of moderators... LOL
Unfortunately, this is what the marketeers rely on. And they, sadly, are whom you are likely to find yourself buying from when you buy expensive systems. They are almost invariably marketeers, not traders.
As for the geniune traders who have systems that do work - well, you'll find them selling them down at the $70-$200 end of the scale. This is the area you would be advised to study if you can't or won't trade price action off your own bat. They trade their systems themselves, fully support them and get a buzz out of showing others how to follow their success.
I won't be naming them. At the beginning of the thread I nearly got lynched by a hanging posse of moderators... LOL
puregold24carat
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I must admit i did not buy Goldline System , nor Tradewin nor Concept. I was soo taken in by CON -cept that idid not buy it twice ( or as Victor would say he bought the company out !! ) .
Scanjet,
Can't really see why you don't just name "the good ones"! I have no difficulty naming the EAs I am using or trialling, and I can't see why the mods would have a problem either! What they don't want is blatant spam. As I said before it is pretty ironic that T2W "partners" with scammy products like Concept, but then there's money in it for them isn't there. We all have our "price"!
My live forex account is now up 193% since 31 Dec 08. I am currently trading it with two EAs: FAPTurbo and MegaDroid.
2008
1 Dec Starting Capital £100
19 Dec £100 withdrawn.
31 Dec Equity at £2,070
2009
30 Jan Equity at £3,248
27 Feb Equity at £2,953
27 Mar Equity at £3,698
30 Apr Equity at £4,576
29 May Equity at £5441
5 Jun Equity at £5746
12 Jun Equity at £6060
Another steady week with both FAPTurbo and MegaDroid. I increase lot size everyday in direct proportion to the growth of the account. I do not plan to reduce lot size in the event of a losing day or week.
On a separate live account, I am still running a test of an EA called Euro-Blaster at minimum lot size. Still can't make a judgement. Just wish it traded more often.
Can't really see why you don't just name "the good ones"! I have no difficulty naming the EAs I am using or trialling, and I can't see why the mods would have a problem either! What they don't want is blatant spam. As I said before it is pretty ironic that T2W "partners" with scammy products like Concept, but then there's money in it for them isn't there. We all have our "price"!
My live forex account is now up 193% since 31 Dec 08. I am currently trading it with two EAs: FAPTurbo and MegaDroid.
2008
1 Dec Starting Capital £100
19 Dec £100 withdrawn.
31 Dec Equity at £2,070
2009
30 Jan Equity at £3,248
27 Feb Equity at £2,953
27 Mar Equity at £3,698
30 Apr Equity at £4,576
29 May Equity at £5441
5 Jun Equity at £5746
12 Jun Equity at £6060
Another steady week with both FAPTurbo and MegaDroid. I increase lot size everyday in direct proportion to the growth of the account. I do not plan to reduce lot size in the event of a losing day or week.
On a separate live account, I am still running a test of an EA called Euro-Blaster at minimum lot size. Still can't make a judgement. Just wish it traded more often.
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Willy
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Since you are a Senior Member I think your experiences will be much valued. The problem is single post users posting links that usually are affiliate links (and easy to spot).
Real life experiences from serious people are very valuable. This thread alone must have saved some people a lot of money, but why name only the bad ones?
Willy
To be honest I can never understand your insulting attitude to other people, and your evasiveness when it comes to giving out any facts as regards your own trading. Your sarcasm is misplaced. Do you not realise there is a world where people live outside the Great British timezone and the over-regulated EU? And where tax is a flat 15%. You too could get away from ruddy ZaNuLiebor and control freak culture if you had the gumption.
As for nursing the EAs, no way. It's set and forget. In the evening, before I go to bed with a beautiful wife, I put the cat out, check the VPS is still running OK, switch off the PC and sleep with peace of mind! Then wake in the morning to check progress. A losing night is very rare. Daylight hours are spent on practical joys like building a big extension, or generally chilling, swatting a few flies, in a country which does not have control freak building inspectors, PCSOs, and CCTV on every building etc etc. No wonder you spend so much time being sad on the T2W forums when you have so little control of your life?
Sarcasm was always the lowest form of humour, and as it is so easy it commands no respect. Certainly doesn't make me chuckle, whoever you target.
Why don't you actually share the great trading experience you always allude to? I have the impression that you are actually a fraud and a sad one to boot.
