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Scott's FXPhantom Discussion
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Member Since Feb 04, 2011 32 posts
ragency
Jun 04 2012 at 17:34
Hi Scott,
A. Why did you choose 1:50 leverage? B. Aren't you concerned about the drawdown? |
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Member Since Sep 02, 2011 20 posts
Forex Verified (forexverified)
Jun 05 2012 at 16:19
Hi ragency,
A. I'm in the USA and wanted to use a USA broker with tight spreads. That stuck me with 50:1. B. Yes I'm concerned about drawdown as anyone should be - the vendor's recommendation is to keep the lot size small so we can survive any drawdowns. Only time will tell how it works out. Scott Adding transparency and quality to the Forex market, one trade at a time. |
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Member Since Aug 16, 2010 452 posts
Raa (mistificator)
Jul 29 2012 at 18:08
50% loss means you need to win 100% only to get back. For me it means this account/trading method/robot is finished.
Was mich nicht umbringt, macht mich stärker. |
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Member Since Sep 29, 2010 181 posts
Dash (LKForex)
Aug 08 2012 at 10:10
why would u test this ea with real money is beyond my belief.
Get Rich or Die Trying |
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Member Since Sep 02, 2011 20 posts
Forex Verified (forexverified)
Aug 08 2012 at 18:34
Well, the vendor's account looked good so I decided to give it a shot. If it wasn't for the stupid 50:1 leverage limitation I would be in profit. You can see our official demo (which has 500:1 leverage and is still in profit) here:
http://forexverified.com/reports/fxphantom/fxphantom001.html Adding transparency and quality to the Forex market, one trade at a time. |
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Member Since Sep 29, 2010 181 posts
Dash (LKForex)
Aug 09 2012 at 21:39
even with higher leverage, how can u trust a grid ea wthat had over 50% dd that generates 9% a month? that is the worst risk ratio ever
http://www.myfxbook.com/members/NickMcDonald/fxphantom/327594 Get Rich or Die Trying |
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Member Since Sep 02, 2011 20 posts
Forex Verified (forexverified)
Aug 12 2012 at 18:39
Just to clarify: Phantom is not a grid trading strategy, it's a scalper, but it does have the worst risk/reward ratio 'ever'. Also, Nick's test appears to be trading a much higher-than-recommended lot size too. A $3k balance should be trading about 0.07 lots, not 0.12. That will affect the drawdown too.
The risk/reward ratio is horrible but... we've only had 1 stop loss in 2.4 months out of 858 trades. Obviously the goal is to have a large enough stop loss that you only hit it during trends but avoid the SL hits during all of the ranging markets. Scott Adding transparency and quality to the Forex market, one trade at a time. |
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Member Since Jun 06, 2012 1360 posts
stevewalker (stevewalker)
Aug 12 2012 at 18:43
'we've only had 1 stop loss in 2.4 months out of 858 trades.'
 then trade with 1 TP 1000 SL 
Trade the Trend, Defend to Price! |
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