sPhantom Auto Trader Discussion

forexpipcatcha posted:

sPhantom posted:
Dear Clients

We as you have very hard moments.

We are creating a new update for this EA.

We will let you as soon as it gets ready.

We have about 1000 unanswered email. Please be patient. We will answer all of them. It may take up to 1 week.

Thanks for your support.


Regards

LOL @ you... your hard moments was to spend all the peoples money that bought your crap? Annnnndddd now you want to alter it so they can lose again and again?
What is your compensation?

Bad moments? U lost 800 usd in ur micro account while u earned hundreds thousand dollari selling a supposed ea? A real ea does not use stop loss to ex it from a losing trade, but ex it based on market conditions, eaxh one with his on calculation. If u trade with a risk reward ratio 20/1 or also 6/1 in the medium term u can only lo osé money and u know. The ea can be profitable only if it isnable to CUT losses. But ur is not an ea, and we all know it. And now u want we think that u will be albe to realize it only because u wrote few words?

Don't forget that they didn't ruin their account, it still has 200% profit. Yeah it had a bad trade that could have been avoided, but its still alive. I am not defending them or their methods, but people act like it's the end of the world. You knew that there was a chance of losing money as with anything to do with forex, you obviously used money that you don't mind losing, otherwise you wouldn't be using it.. would you?

If it is a bomb like other bad Martingale EA,you will not know when it burn out.

Silverthorn posted:

forexpipcatcha posted:
In that case it's not the EA you are concerned with but it's signals and this implies the EA is crap but I do agree with you to some point. I did trade some of it's signals entering at better price but to catch it's signals is hard unless you are unemployed and have no life or friends and is sitting there watching the screen. However in saying this if someone can make some sort of SMS signal as to when it signals a trade it could be worth pursuing.

Hmm Not everybody needs a 9 to 5!! 😉

I'd still run it as an EA with very high risk settings from day one on a small mini account and withdraw all profits weekly.

It will probably burn out every other month but I think from what I've seen it should be possible to cover the loss with a handsome profit.

The biggest problem I see is that because it is basically a copy trader there is no way to back test to try different money management methods. So watch and wait I must.

290 x 1000++

On friday I purchased sPhantom after keeping the track since 2 months, honestly i was really impressed the way it was trading, I was gonna run it live from tomorrow :(
I know how I managed to purcahse the EA in my hard time...I am really disappointed today.

will it keep trading or this was the end ???
do you have any strategy to cover up the huge drawdown???

It's good to hear from the sPhantom team and I hope they keep going. I was fortunate to shutdown their trade before the FOMC so I was saved. I would have been pissed if it blew my account being I have only been running it a month (I would have lost 60% because my risk was set at 20), but for those asking for their money back, unless you just bought it, I can't believe you would ask for a refund. Surely you know the risks and you've seen the myfxbook account. Scroll through the trades and you can see a few times where drawdowns have reached above 100 pips. It is a scalper so if it gets 100 pips away from entry then the parameters/signals they were trading by are clearly null and void by that point. The warning signs were there. I'll definitely be managing it closely from now on and turn it off around decent news events from now on.

Hmmm, plus let me explain my point of view! First to take every months the gains suppose u have gains and is recommended with grid martingale strategies, which, if well coded, are profitable in the long run with DD in order of 40%. Second someone is thinking that the short message from the vendor means something: it' s only because some have requested refund to Avangate which have stress ed them. Third if u ever used a profitable ea must knows that the s/l are intended ususally for safety reasons only, the trades only sometimes reach the s/ values (also if tight at only 50 pips). Pls, take the time to review the history of trades of the profitable ea u want and look in the history how many Times trades reached the full sl. Trades are closed earlier based on the algoritms of the ea, but here the ea exists? I have bought this (i cannot use the term ea) only because i saw in the history the worst trade was at -23 pips and the vendor stated many Times 200 pip sl was only for safety reasons. I was not complaining nothing if sphantom took 10 losing trades in a row of 20 - 30 pips, an ea does not necessarily need to be profitable, but here i do not see any ea, any support, only smoke. Pls, opening ur eyes and stop to dream! Jarora was right

Jimmeh posted:
It's good to hear from the sPhantom team and I hope they keep going. I was fortunate to shutdown their trade before the FOMC so I was saved. I would have been pissed if it blew my account being I have only been running it a month (I would have lost 60% because my risk was set at 20), but for those asking for their money back, unless you just bought it, I can't believe you would ask for a refund. Surely you know the risks and you've seen the myfxbook account. Scroll through the trades and you can see a few times where drawdowns have reached above 100 pips. It is a scalper so if it gets 100 pips away from entry then the parameters/signals they were trading by are clearly null and void by that point. The warning signs were there. I'll definitely be managing it closely from now on and turn it off around decent news events from now on.

Jimmeh, lucky don't last for ever. If u read their website u see celar la stated that this Spahntom don't need any intervention by the users. I know the risk batter than u and so my risk was at 3. If someone sell u a banana a nd in your bag u find a mushroom i think u will ask a refund. Also look strange that u registered in myfxbook few minutes before posting ur suspect post, jimmeh or maybe Brenton or aka the way u with to call u. This is a scrap and the people Who do not under stand this or are sleeping or are in some way involved. Strange that u poster only now, where u was last weeks?

It' good to year from Sphantom they say! What they stated? Have u recevied some explanations by e-mails? It is so hard to find 2 minutes to explain in detail the fact, the cause s and remedies? The fact is that there is nothing to explain! Now lot of new satisfied users will appear to say all is OK. Sphantom, i call you and give us the exact nome of ur Company and ur address if u are seriuos and take the responsability of ur fault! Otherwis all what u or ur friends says are only demonstration that here there is something worst than a scam, here there is a fraud. Spahntom, show ur self and let us have ur Company details. I am stil waiting!

I keep reading a torrent of comments about how should be the pricing, S/L and the most various strategies.. and I wonder how almost none of you switched off the EA before such important incoming news. I wonder of it specially after having experienced the same unproper behaviour during the past few weeks..
If you play FOREX EA you cannot just ignore the rule n.1: Mind the Economic Calendar (Button Home of this page) and ALWAYS switch your EA off before red news! Otherwise who else can you claim to be responsible for your misfortune?
I don't dicount anything to sPhantom which has to clarify this unbelievable trade, but at the same time it could be easily avoided.

GPzz posted:
I keep reading a torrent of comments about how should be the pricing, S/L and the most various strategies.. and I wonder how almost none of you switched off the EA before such important incoming news. I wonder of it specially after having experienced the same unproper behaviour during the past few weeks..
If you play FOREX EA you cannot just ignore the rule n.1: Mind the Economic Calendar (Button Home of this page) and ALWAYS switch your EA off before red news! Otherwise who else can you claim to be responsible for your misfortune?
I don't dicount anything to sPhantom which has to clarify this unbelievable trade, but at the same time it could be easily avoided.

They several Times stated that this not need any human intervention and is also stated in their website.
I run also a wally and Vol Fac and they have news filter. The vendor any way suggests to not switch the news filter on and so i did. During These days both hade profitable trades on eurusd and other pairs (u can check on their myfxbook accounts). The problem is not the news but the fact that here there is no ea calculating when to exit from a losing trade. With no risk managment ur account will disappear on day or the other. The problem is not i fan ea is profitable or not but if this ea exist or not, if what they guaranteed is real or not and i think the reality is clear to every one. I hope for u to not run anymore this scrap on ur accounts.

@GPzz I agree, its your own responsibility to stop ea's before and during news. Especially if the system has no reasonable sl (this was easy to see on myfxbook) and in forums, there are people calling the vendor a scammer.
@corre71 in the last weeks the 'newsfilter' was obviously turned off and the sl was never hit before. The system is no scrap, with some tweaks and good moneymanagement on your side it was/is a nice system - still about 15% monthly.

come on!
1 week ago, here were only fans of this vendor.. and now most of You are very disappointed !
It was discussed several times, that the main issue is MM !
Sorry for quoting myself, but please take at look at this discussion :
https://www.myfxbook.com/community/trading-systems/sphantom-auto-trader/562877,35

someone, who treates forex business seriously, put reasonable lot position..

lets see, what happened if you put 'reasonable' risk: 0,2 lots (10k account):

1st pos = lost 146 pips = ca 300 usd
2nd pos= lost 118 pips = ca 240 usd

So, total lost last Friday = 540 usd = 5,4 % !!

This would never blow up your account ! But if you expect be milionares in few month.. you must accept to lose all you had :)

ForeignDevise posted:
@GPzz I agree, its your own responsibility to stop ea's before and during news. Especially if the system has no reasonable sl (this was easy to see on myfxbook) and in forums, there are people calling the vendor a scammer.
@corre71 in the last weeks the 'newsfilter' was obviously turned off and the sl was never hit before. The system is no scrap, with some tweaks and good moneymanagement on your side it was/is a nice system - still about 15% monthly.

I was running it at 3%, what else i can do? Plus read the previuos posts! They stated it don' t need any intervention from ourr side! If u like continue to run this scrap, but don't say that we some foult in this shit!

Bogdan posted:
come on!
1 week ago, here were only fans of this vendor.. and now most of You are very disappointed !
It was discussed several times, that the main issue is MM !
Sorry for quoting myself, but please take at look at this discussion :
https://www.myfxbook.com/community/trading-systems/sphantom-auto-trader/562877,35

someone, who treates forex business seriously, put reasonable lot position..

lets see, what happened if you put 'reasonable' risk: 0,2 lots (10k account):

1st pos = lost 146 pips = ca 300 usd
2nd pos= lost 118 pips = ca 240 usd

So, total lost last Friday = 540 usd = 5,4 % !!

This would never blow up your account ! But if you expect be milionares in few month.. you must accept to lose all you had :)

Bogdan, yes you are completely right, but some (or many ?) run the 10% default.
I got the honest 4.0% risk value due to my levarage from verndor and my loss is acceptable.

@husar2003

yes, and that was main fault of vendor! Default settings should be 1%.. and they should explain very well MM issue..
(however, nobody takes off our own responsiblity of our money :))

If I checked well, in this reference account vendor runs with 30% risk ! That is second fault.. if they run with 10% , maybe chart of equity wouldnt look so impresive, but very good! Now, we see tragedy

In other hand , they still earned 660 pips in 9 months ( incl. last lost)..

gombosg posted:

leverconsult 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.

dont get it wrong,the eas are not the gamblers, but the one who utilizes them with the unrealistic expectation is the true gambler
why would an 'intelligent trader' rely on a programme created by an unknown
show me all successful traders and ull see core manual trading behind the scene
for those who have been observing proper money mgt, having a diverse risk portfolio and thirdly having an indepth knowledge of ea workings, what has happened to sphantom now shouldnt throw you off balance.
per adventure, if you know of any of such programme that is guaranteed to make and keep making you money, it would be helpful to the forum
just a little proof - go to forexpeacearmy, click on expert advisor test, click on weeks to take you to the longest standing eas and see for yourself the amount these eas make weekly and their performance curves😄
this is even talking about the ones that have survived for close to a year, not to even talk aout the numerous that have crashed and burnt

Note that sPhantom was one of the most promising EA on forexpeacearmy with long, good track record.[/quoter
thats the point. They all eventually fail @ some point. The problem is you never can tell when this failure will come- could be when you have made a lot of money with it, or sadly could be when you are just starting

Bogdan posted:
come on!
1 week ago, here were only fans of this vendor.. and now most of You are very disappointed !
It was discussed several times, that the main issue is MM !
Sorry for quoting myself, but please take at look at this discussion :
https://www.myfxbook.com/community/trading-systems/sphantom-auto-trader/562877,35

someone, who treates forex business seriously, put reasonable lot position..

lets see, what happened if you put 'reasonable' risk: 0,2 lots (10k account):

1st pos = lost 146 pips = ca 300 usd
2nd pos= lost 118 pips = ca 240 usd

So, total lost last Friday = 540 usd = 5,4 % !!

This would never blow up your account ! But if you expect be milionares in few month.. you must accept to lose all you had :)

No offence pal but your brains fail to see both sides and you are looking only at this loss...
sure you lose 540 pips and that's 5.4% BUT what about your gains over such a long time, they are much less than 5.4% when the EA is set to 0.2 for a 10k account after so many months of operation that is if you started early.
The question is only can It regain before the next blow out and the huge problem is by setting it to 5 or 10% you will almost never gain from it i.e very high risk for very little reward so it wouldn't blow up your account in a short time BUT as time approaches infinity I guarantee you it will.. The lower the risk the worse off you are because your gains are much less and are harder to recover. You would end up with a graph similar to a linear one not exponential... your maths is crap lol

Best to look at an EA that has operated for more than 2 years and you will find those kind of EA's make small amounts per month

Well Guys, took the EA offline. Also closed the account with Traders Way (thinking of changing brokers anyway). Since some EA's have a hard time with large balances, going to run this one on demo with a small balance. Doubt if it will make any difference since the EA itself is not balance oriented. We'll see. I believe the EA itself is not to blame for last weeks big loss. It was whoever pulled the switch at the other end to open such a badly timed trade to begin with. Like the old saying goes 'Rule number one: Don't trade the news. Rule number two: Refer to Rule number one'. Good luck in the future Guys. Joseph (Anubis).