To use chat, please login.
Back to contacts

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

Back Pearl
husar2003
Feb 02 2014 at 17:25
102 posts
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.

Bogdan
Feb 02 2014 at 17:42
4 posts
@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)..


Akinwale (leverconsult)
Feb 02 2014 at 19:19
140 posts
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

Courage is not the absence of fear,but rather the judgement that something else is more important than fear
forexpipcatcha
Feb 02 2014 at 19:54
325 posts
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

Joseph (Anubis)
Feb 02 2014 at 23:03
87 posts
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).

"Risk means more things can happen than will happen."
rob559
Feb 03 2014 at 06:17
1916 posts
that ea was a real success story ....for some

redliner
Feb 03 2014 at 07:28
17 posts
I was planning to buy end of the month.
And, if this EA doesn't suddenly stop, I will still do so.

I don't know if you guys saw this, but you can request a personal mod to the EA with an emergency SL of your choosing.

For me, I'll probably have it reduced to 100 pips, and trade at 15-20% @1:400.
even at 200% in 10 months, it still beats most out there.

I'll keep an eye on the recovery for 2-3 months.

Please keep posting here on how they handle news days from now on. If they stop trading during FOMC, or if they trade in the direction of the news, after the news is out. Such stuff.

Cheers

Joseph (Anubis)
Feb 03 2014 at 08:19
87 posts
redliner posted:
I was planning to buy end of the month.
And, if this EA doesn't suddenly stop, I will still do so.

I don't know if you guys saw this, but you can request a personal mod to the EA with an emergency SL of your choosing.

For me, I'll probably have it reduced to 100 pips, and trade at 15-20% @1:400.
even at 200% in 10 months, it still beats most out there.

I'll keep an eye on the recovery for 2-3 months.

Please keep posting here on how they handle news days from now on. If they stop trading during FOMC, or if they trade in the direction of the news, after the news is out. Such stuff.

redliner: I am running the EA on demo: 'Anubis-sPhantom after da crash' on myfxbook. You can track it there if you like, Also, you can follow the upcoming news events on www.forexfactory.com Just go to their calender. I would still recommend disabling the EA prior to news if running on live acct. I did that last week and saved my acct. On my demo, I'm going to let it run during the news, to see if any changes were made in their trading strategy. 😄

Cheers

"Risk means more things can happen than will happen."
corre71
Feb 03 2014 at 08:20
256 posts
redliner posted:
I was planning to buy end of the month.
And, if this EA doesn't suddenly stop, I will still do so.

I don't know if you guys saw this, but you can request a personal mod to the EA with an emergency SL of your choosing.

For me, I'll probably have it reduced to 100 pips, and trade at 15-20% @1:400.
even at 200% in 10 months, it still beats most out there.

I'll keep an eye on the recovery for 2-3 months.

Please keep posting here on how they handle news days from now on. If they stop trading during FOMC, or if they trade in the direction of the news, after the news is out. Such stuff.

Cheers


A custom version? so we must choose the s/l? and based on what since this does not permit a backtest? S/L must be choosen by the vendor and must be intended only for emergency! Also maybe u didn't noticed that the vendor is not replying to the customers; of course he is replying to people which contact them to buy this 'EA'! Did u ever used other EAs? how many times when in loss they reached the hard s/l?

Running only Expert advisors with good long term backtests and nice forward tests
Joseph (Anubis)
Feb 03 2014 at 08:21
87 posts
redliner: Also, I have the modified version with SL at 100, and risk at 30 to see what happens.

"Risk means more things can happen than will happen."
Please login to comment .