sPhantom Auto Trader Discussion

pilotas posted:

How do you get metatrader logs from sphantom? :)

I'm fairly certain that this is a manual close from the information given here: https://corporate.ibfx.com/News/What-are-Interbank-FXs-Margin-Requirements.

... assuming that that the margin requirements are the same (but scaled) at leverage 1:400. Additionally, if this was a broker MC, a signal would not have been generated to close from this (unless they wrote some logic in the EA to scan for forced closure and then generate the close signal).

From what i hear in the discussion seems that a lot of you is still willing to follow the trades of Sphantom. From my side i have bought it 2 weeks ago and ihave ran it at 3% risk so i lost about 6% of my account (it was the gain made by other EA's in January). I will not continue to trade Sphantom since the vendor will release an updated version with reasonable S/l. Also i must say that S/L in a good EA must be only a safety feature and the EA must close the trade the soonest considering market condtions. But i i am almost sure that the vendor disappeared with ou money in the bag (but i will discuss it with Avangate) and wil not reply. This is not professional. I will always buy only EAs from professional who are in the bussiness from many years. When Fxautomater released Volatility factor some years ago in the beginnign it was a disaster (you can read the story in the Donnaforex forum) but they was everyday in the forum to discuss with customers and releasing continuosly update of the robot. At the end the robot almsost doubled the real account they have on Myfx bookwith the latest releases i less than 1 year. Also the vendor replied to all my e-mail (and i think also of other customers) in few hours. You think Brenton will do the same?
If you look in the web (also in forexpeace army) you will find a lot of shiny EAs with 3 and 4 Profot factor, but what will be support from the vendor? An Ea need to be updated at least 1 time per year; otherwise is betetr to subscribe a signal service and spend 80 - 100 $ per month and in this case the vendor will for sure update the robot!

I honestly think the most important aspects when you choose an EA are the following:

1. It must have a real not demo account verified from more than 1 year
2. The vendor is well known and supportive and offering refund period
3. Profit factor at least 1.3 (if it is too high it can be suspect)
4. Return to drawdownratio at lest 1.5

quietairofmenace posted:

pilotas posted:

How do you get metatrader logs from sphantom? :)

I'm fairly certain that this is a manual close from the information given here: https://corporate.ibfx.com/News/What-are-Interbank-FXs-Margin-Requirements.

... assuming that that the margin requirements are the same (but scaled) at leverage 1:400. Additionally, if this was a broker MC, a signal would not have been generated to close from this (unless they wrote some logic in the EA to scan for forced closure and then generate the close signal).

Well, according official data they barely touched stop out level. Not sure how myfxbook calculating lowes level - at moment of data read or calculating what was happening between updates. It doesn't matter any more. Sphantom screwed up.
And it is not real EA, it is trade copier. If there is an open trade on master account, it will send signal to open copy of it at clients account. If trade is closed on master, it sends signal to close for client, no mater how it was dlosed, by sl, by tp, manualy, or stopout.

Anyway I don't see any reason to talk any more about this crap.

I just bought this a week back and had claimed refund about 3 days ago even before this DD. If they do not refund I shall make chargeback on my creditcard. You may also put forward your claim to Avangate.

Since they asked for 300$ upright , and not as a subscription monthly or yearly, it is clear that they already know this mishap wouuld happen sooner or later, and by this time they can amasss as much 300$ as they can get and appear again under a new name.

Hence file your complaint to Avangate immediately, so that they can block payments to this merchant.

If not you can still do a Chargeback on your CC.

Thanks

I suggest to all the new buyer of the software to contact Avangate and to strongly press them to stop the procedure to take our money! i will write them an e-mail later if i will not receive any reply from Sphantom. I am a lawyer and here i see a fraud and a fraud in my country is a crime. And Avangate which is a big Company must be aware of this. If i will not receive the refund from them i will contact Police Telecommunication Dep and will see!! I have bought a lifetime license of a software which is not working! is not for the 299 $ but i will not accept to be treated like a stupid without doing nothing! This is a clear message; in my country we say: Chi deve capire capisca = who must undersatand will understand!

Definitely, especially for those who just bought it like me. At least is could recover the losses it made...

jiang posted:
All guys,I have told you the sPhantom is fx_papa.

jiang posted:
Hello,all guys,
After I study the trade records for sPhantom && fx_papa again and again
(URL: https://www.forexpeacearmy.com/metatrader_expert_advisor/fx_papa/real)
,I am hundred percent sure that sPhantom is a reborn for fx_papa.
    Why? Let me prove it.
  1.For fx_para,there are some records with 2 positions or 3 positions to win EURUSD/GBPUSD,for example ,the following two trade record closed at the same time for fx_para

23814035 2012.04.18 04:00 buy 0.57 eurusdm 1.31235 0.00000 0.00000 2012.04.18 13:56 1.30975 0.00 0.00 0.00 -14.82 -26
23819475 2012.04.18 12:50 buy 0.57 eurusdm 1.30633 0.00000 0.00000 2012.04.18 13:56 1.30975 0.00 0.00 0.00 19.50 34
  
   sPhantom win some trades with 2 position on EURUSD

 2. sPhantom and fx_para have big stoploss when 2 trades failed.

 3.They have the same broker (IBFX Australia Pty Ltd) for test

 4.Firstly I do not understand why the Avg. Trade time Length for 10 pips is so long,but when you compare the Analytics

https://www.forexpeacearmy.com/metatrader_expert_advisor/s_phantom/real/analytics
Average trade length: 11 hours 50 minutes
Average trades opened daily/weekly/monthly: 1/4/14 ( EURUSD,not open trade for Friday)
https://www.forexpeacearmy.com/metatrader_expert_advisor/fx_papa/real/analytics
Average trade length: 8 hours 5 minutes
Average trades opened daily/weekly/monthly: 2/5/22 (GBPUSD and EURUSD)

The are very similar.Why? I find sometimes the first position is not a perfect position when the trade following the trend,they open at a high position when long,a low position when short,so it took much time to save the first position with the second trade.

 What it the problem or the risk for sPhantom && fx_papa?
For fx_para,

1. He stopped trading after a 40-50% Drawdown from 3 trades
2. he has made his live myfxbook system private
3. his EA failed to trade within its set sl llimit

For sPhantom,
  A live analyst will not open trades before the big news, so maybe the trend will not reverse with the news.I am afraid when
the analyst make a wrong decision.

If you decide to use sPhantom ,how to reduce the risk? You need to make a balance with the profit and the risk carefully,
reduce the SL or take small lots.Or when trend reverse,you can close the trades manually.


What about the vendor for sPhantom? I want to say,You are a clever guy,but not honest.If the customer accounts end like the fx_para again,how you feel? I understand it is not a easy job to build a EA,but you need to tell the customers about the risk for sPhantom or fx_para.

Thanks
Jiang

I think he really don't care and feels very good with our money in the pocket!

Well the is no 'real' reason not to continue the service. But there was also no reason to trade in front of such big news.
@sPhantom
If you restart, please make the payment monthly, open multiple accs with different brokers, try to increase the expectancy a bit (not the gain) and maybe get the avg duration down
Thx

tsmorek posted:
Hello Traders,

I bought this system at the begining of Jan after 5 or 6 months of real account data and good results. Last couple of days trades really suprised me as with consistency for last 5-6 months I dont understand reasoning behind these trades. I woudl think that this was done for purpose to close it and then re-open as a new brand (someone else mentioned earlier that similar situation happend before under brand fx papa).

I think Sphantom should respond on that forum otherwise I would think we should gather together and raise it through Forex Peace Army forum to prevent any occuring situation where vendor price EA quite high ($300 - no refund!!!), gather bunch of customers and then kill it and then cretes new brand!!! Do your own calculations how many customers it could attract!

This is just an idea so let me know your throughts about it.


Thanks,
T.

I agree with you to about Forexpeace army but i think that FPA is not so intersted. I am almost sure that in the list of the EAs watched there are a lot of scams too!!

My friends, i have just now sent an e-mail to Avangate informing them about this unpleasant situation. I invite all people which bought 'Scrappy' in january through Avangate to contact them asking a refund! If i will not receive a refund i will go to Italian Police for frauds in Telecommunications and will see!!! We didn't get what promised: the 200 pips S/L was only for secutirty reasons and was several times assured that the trades was not enabled when released important fundamental events! Also was included lifetime updates and support, and i do not see noone explaining us the situation!!

fxbook89 posted:
I just bought this a week back and had claimed refund about 3 days ago even before this DD. If they do not refund I shall make chargeback on my creditcard. You may also put forward your claim to Avangate.

Since they asked for 300$ upright , and not as a subscription monthly or yearly, it is clear that they already know this mishap wouuld happen sooner or later, and by this time they can amasss as much 300$ as they can get and appear again under a new name.

Hence file your complaint to Avangate immediately, so that they can block payments to this merchant.

If not you can still do a Chargeback on your CC.

Thanks

I did the same as per my previous post!!

fxbook89 posted:
I just bought this a week back and had claimed refund about 3 days ago even before this DD. If they do not refund I shall make chargeback on my creditcard. You may also put forward your claim to Avangate.

Since they asked for 300$ upright , and not as a subscription monthly or yearly, it is clear that they already know this mishap wouuld happen sooner or later, and by this time they can amasss as much 300$ as they can get and appear again under a new name.

Hence file your complaint to Avangate immediately, so that they can block payments to this merchant.

If not you can still do a Chargeback on your CC.

Thanks

How did you made this claim to Avangate, by e-mail like me?
Tnx

what gives me the creeps is that there's no way sPhantom could benefit from allowing this to happen, and their track record proves they didn't have to.

Follow the money - the only party that benefits from this is IBFX, after many users buy the EA and then go with IBFX to avoid latency.

I finally have started to turn the corner and learn manual trading - no more EA's for me unless I can fully adjust the money management parameters myself.

Anubis posted:
Hey Guys. If any are considering Wally (Wallstreet Forex Robot), check out the autotrade section on this site. There are 2 systems running. If you decide to climb on board, don't need to purchase EA, and don't need to purchase a VPS. I'm currently demo-ing the 2 Wally systems.

Interesting, did you check how effective is the execution on your demo account comparing the trades you are copying? Does the system perform quick enough to have close results?

@corre71 : fai bene, ma mi sa che alla nostra polizia postale si fanno una bella risata. quelli stanno in cina..

leverconsult posted:

bkforex posted:
I would not consider buying any EA that has a risk / reward ratio higher than 1 : 1.

No ea, not even one, is ever successful over the long term. EA is for gamblers, MANUAL TRADING is for traders.

I disagree: EAs are for intelligent traders, MANUAL TRADING is for gamblers (and sometimes traders).

You cannot create an EA without being able to explicitly define your system. Any good manual trader has discipline to follow their system TO THE 'T'. But 90% of traders lose money in forex - usually attributed to a lack of discipline and emotional interference. Isn't this what is called 'gambling'?

EAs lose money because either the strategy is poor to begin with, or the wrong settings are used (or you are using a scam broker, in which case you have NO HOPE of making money trading!). They are a program and do not 'gamble' per se.

I don't think this was done on purpose. These kinds of systems with stoploss 25 times bigger than profit is doomed to fail sooner or later. It's just a matter of time. It's not very often that the 250 pip stop gets hit , but in time it will.

tsmorek posted:
Hello Traders,

I bought this system at the begining of Jan after 5 or 6 months of real account data and good results. Last couple of days trades really suprised me as with consistency for last 5-6 months I dont understand reasoning behind these trades. I woudl think that this was done for purpose to close it and then re-open as a new brand (someone else mentioned earlier that similar situation happend before under brand fx papa).

I think Sphantom should respond on that forum otherwise I would think we should gather together and raise it through Forex Peace Army forum to prevent any occuring situation where vendor price EA quite high ($300 - no refund!!!), gather bunch of customers and then kill it and then cretes new brand!!! Do your own calculations how many customers it could attract!

This is just an idea so let me know your throughts about it.

Thanks,
T.

Most of the top traders in Zulu are doing the same, scalp for a few pip profit and use no stop loss or very huge stop loss. When you do that, you 'll get higher probability or winning rate, but when the stop loss gets hit , it 'll burn your account.

BluePanther posted:

leverconsult posted:

bkforex posted:
I would not consider buying any EA that has a risk / reward ratio higher than 1 : 1.

No ea, not even one, is ever successful over the long term. EA is for gamblers, MANUAL TRADING is for traders.

I disagree: EAs are for intelligent traders, MANUAL TRADING is for gamblers (and sometimes traders).

You cannot create an EA without being able to explicitly define your system. Any good manual trader has discipline to follow their system TO THE 'T'. But 90% of traders lose money in forex - usually attributed to a lack of discipline and emotional interference. Isn't this what is called 'gambling'?

EAs lose money because either the strategy is poor to begin with, or the wrong settings are used (or you are using a scam broker, in which case you have NO HOPE of making money trading!). They are a program and do not 'gamble' per se.

Another scam trying to get money off people