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sPhantom Auto Trader (By sPhantom Auto Trader )

Gain : +694.0%
Drawdown 91.94%
Pips: 1266.4
Trades 261
Won:
Lost:
Type: Real
Leverage: 1:400
Trading: Automated

sPhantom Auto Trader Discussion

pilotas
Jan 31 2014 at 14:00
58 posts
Matt (BluePanther)
Jan 31 2014 at 14:00
1354 posts
Oh, I hate it when systems do that - crash and burn! 😞

Bummer, it looked so promising!

bkforex
Jan 31 2014 at 14:06
45 posts
I would not consider buying any EA that has a risk / reward ratio higher than 1 : 1.

FXJester
Jan 31 2014 at 14:41
13 posts
It would be nice to have some information from the vendor regarding continuation of the service (or otherwise).


Akinwale (leverconsult)
Jan 31 2014 at 15:09
140 posts
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.

Courage is not the absence of fear,but rather the judgement that something else is more important than fear
tsmorek
Jan 31 2014 at 15:16
2 posts
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.

quietairofmenace
Jan 31 2014 at 15:17
19 posts
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).

corre71
Jan 31 2014 at 15:18
256 posts
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!

Running only Expert advisors with good long term backtests and nice forward tests
corre71
Jan 31 2014 at 15:18
256 posts
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

Running only Expert advisors with good long term backtests and nice forward tests
pilotas
Jan 31 2014 at 16:27
58 posts
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.

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