sPhantom Auto Trader Discussion

If you have paid using paypal, you can open a dispute. I have opened a dispute saying that it is a fraud since sPhantom support is not answering and there is no detail provided by them regarding with the continuation of the service. Those who used paypal should try it, and paypal will also notice this fraud.

ForeignDevise posted:
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

They sold a lifetime licence for a software so how can tey start with us a monthly subscription? before they mus refund us!

If I bought through paypal in 8 of january do you think I have a better / worse chance to get my money back?

Do you think paypal will help in this, or is it just more complicated?

Also how do you do a chargeback? Through the bank?

Thanks,
Alex.

Do you think if I bought via PayPal I have a better / worse chance of getting back the money?

Also, how do I initiate a chargeback? Via the bank? Is it still viable considering I purchased in 8th of January?

Thanks,
Alex

I trust ClickBank only. I remember there was one or two other payment processors but they are not well-known / significant.

With Paypal, I don't like your chances. I have had numerous refund requests rejected because Paypal cite 'as this is an intangible product there is no buyer protection.' I truly wish you would get your money back (and mine), but don't get your hopes up. 😞

With that said, it really is up to the vendor to honour any money-back guarantee they promised. Paypal will support the vendor in their decision.

You can try a chargeback to recover the funds, but likely your bank will say it is beyond their control now. They funds have gone too far and they can only be recovered by the vendor returning it at their discretion.

Assuming sPhantom is going to continue - why not just use the system at 10% risk and don't get a refund?

Of course, if this service has stopped I agree that those who have just purchased (say in the last couple of months) should get a full refund. Its not good to sell a signal service and then stop it a couple of weeks later.

I repeat what I said earlier - it would be good to hear from the vendor to know of their intention to continue or not - it would seem that if they don't do this, there will be a hell of a lot of heat until the next sPhantom signal.

Sorry about double post :) :) took a bit for it to update, I thought it failed to post :)

I wrote the following mail:

'Hello,

I just bought your system and started using it. The second trade it made was the biggest drawdown in its history. It was nonsense and went against claims you made about the product ('not trading before news', 'generates steady profits').

Also I - and other customers - did not see any sign of manual intervention in this dangerous case to protect your customer's investments. I needed to close manually, which goes against your claim that 'there is no need for trader involvement'. There was a need for it because the product did not recognize the thrusting movement during a trending day and did not close the trade.

So not only I spent my money on a product that is not working according to its description but also had to endure losses in my equity.
Of course, it is stated on your website that your product is risky to use, so I am not holding you liable for the equity losses, but since your product is not working as stated in your claims above, I would like to cancel my purchase and get a refund.

If you don't reply or refund the price of the product, I am going to forward this case to Avangate as a fraud case.

My order # is: xxx, my invoice number is: xxx

Thanks,
xxx'

This is important that you actually attack that the product is not working according to the claims. I did not get the product that was advertised on the website.

If I get a refund that is fair because it is true that I'm responsible for my money. But if not - and I advise you to do the same -, forward the case to Avangate. If multiple customers do this, then it may make a difference.

GPzz posted:

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..

Ma io denuncio Avangate xche ufficialmente il venditore e' lui. A me dei 299 + tasse non me ne frega un ca... Ma non mi piace essere preso x il culo

Copying trades cannot have same results if you execute trades directly in your platform. Also you must pay a markup for autostrade. But the most important problem is that Autotrade continuosly delete provider once they go in drawdown and dd is normal, so if u go in dd with wally they stop the service and u will never re cover and are forced to jump on another provider that already realized profits. Read on forexbrokerz.com the story of the best Autotrade providers and u will see that now they are not stil supported

Did any sPhantom fans were able to view our EUR analysis before the full Stoploss? EURUSD never reached any pullback as everyone hoped but a tighter Stoploss was visible on the charts to prevent 80% loss.

https://www.myfxbook.com/forex-charts/EURUSD,M30/20356



Best luck to recovery.

I bought this EA copier also a few weeks back and gotten steady results until yesterday. I just wanna say to all the 'police running lawyers'; you damn known what you gotten yourself into when you bought it! And you are now causing confusion around the fora that suggest sPhantom is quieting.... Shit happens on the FX market (though some shit can walk) :-)

I hope they wont quit and just resume giving me there signals. If they continue like before, I am, within 4 weeks, back on the same level as 2 days ago. Maybe even they throw in some extra pips as a compensation ;-)

So far I always gotten reply's from sPhantom and even have a custom version where I can change the SL.

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.

we don't need ur interested suggestions and remember that commercial use may result in account termination. And i must also say that ur suggested ea gps is a big crap

forexpipcatcha posted:

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

Very big scam. I have already reporter the commercial use

Just because an EA doesn't work long term doesn't make it a 'scam', its just a not successful EA. An EA who takes your money without providing you a service is a scam. Personally sPhantom made me over $8k, doesnt sound like a scam to me... People who make no withdrawals and expect an aggressive system like this to work forever and turn their $500 into millions are their own worst enemy.

EA's without any manual intervention will never be profitable long term as they are likely to take trades before high impact news events, they dont understand global political climate which heavily influences the forex market etc. For long term growth, find yourself an expert trader to follow/copy (as in someone trading a $1m+ account over a period of 5-10 years, not someone who turned $100 into $250 in 3 weeks...) and by all means use an EA on very low risk settings to supplement that.

good luck

msthet posted:
If you have paid using paypal, you can open a dispute. I have opened a dispute saying that it is a fraud since sPhantom support is not answering and there is no detail provided by them regarding with the continuation of the service. Those who used paypal should try it, and paypal will also notice this fraud.

Sorry not going to happen. PayPal does not cover claims on 'Intangible items' like software and digitally delivered goods.

You'll get a response like.

'After careful consideration, we're unable to decide this claim in your favour at this time.
The item is ineligible for PayPal Buyer Protection because it is intangible.'

Your only hope is to do a charge back through the bank that funded the PayPal transaction.

alx0101 posted:
Do you think if I bought via PayPal I have a better / worse chance of getting back the money?

Also, how do I initiate a chargeback? Via the bank? Is it still viable considering I purchased in 8th of January?

Thanks,
Alex

Contact your bank. If the transaction was made with funds drawn directly from your account you have very little chance. If the funds were drawn from a credit card you have a much higher chance but still no guarantee.

@corre71 Thanks for your feedback - I don't often offer advice like that, and now I think I won't offer any further advice. Everyone is entitled to their opinion, but obviously good intentions mean nothing here.

I don't think I have done anything more than what I see everyone else doing on every forum (although perhaps including my affiliate link is not a good idea). GPS Forex Robot is not my product - I am only suggesting it.

Apologies to everyone. Happy trading! 😎

Perhaps sPhantom can add a news filter to the copier EA and we can enable/disable it as we wish? I would like to skip all trade series +/- 2 hours of high impact US or EU news.