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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

corre71
Feb 03 2014 at 15:13
256 posts
redliner posted:
I think I should stress that I am looking for a high risk strategy at the moment.
I have a bunch of money in a 'lower' risk strategy. An hourglass GreenZone.

I just want to stick a small amount into a higher risk to diversify.


If u want high risk for sure here is the right place 😉

Running only Expert advisors with good long term backtests and nice forward tests
jiang
Feb 03 2014 at 15:13
36 posts
News from https://www.forexbrokerz.com/news/sphantom-ea-problems-money-management

sPhantom EA Depletes Live Account with Two Trades
Feb 03 2014 08:29:45 GMT
By Maria Nikolova , Forexbrokerz.com
Find me on Google+
 
It was less than three months ago that we had a look at the sPhantom expert advisor, a Forex robot that impressed us with its ability to deliver high gains while treading slowly in the market. And trading of the robot had been fortunate for its developers and those who have purchased it until last week, when the EA made a crucial misstep in its trades on an otherwise successful account.
 

Photo credit: Myfxbook.
 
You can see how two positions cost the robot 260 pips, or $1,200. Ouch!
 
What happened?
 
Let's recall that the sPhantom EA trades solely the EUR/USD pair, using timeframes from fifteen minutes to one hour to detect moments when the trend is about to turn. It opens positions against the trend and then awaits until it becomes favourable.
 
What we see from last week's history of trades is that the EA opened a long position with the EUR/USD pair which went loss-making, forcing the EA to open one more in the same direction. This is what this type of “pyramid” robots do. The method resembles that of the Forex Growth Bot, which is also very popular, very aggressive EA and has also been experiencing hard times while waiting for trends to turn in a favourable direction.
 
 What happened to the two long positions opened by sPhantom EA is that they plunged heavily into red as the trend remained unfavourable and the price of the EUR/USD kept falling.
 
This is where the money management moment appears crucial. Take a look at the take profit and stop loss levels stipulated on the photo above (click on photo to enlarge it, by the way). You can see that the take profit is pretty small while the stop loss is set at an aggressive level. To be even more precise the TP/SL ratio is 1:10. This means that many will use ambitious risk settings in order to get substantial profit, but they will also risk hefty drawdown and blowing up their accounts. Otherwise the profit is negligible. Well, the trade contract size of 0.46 lots was sufficient to lead to a drawdown of nearly 80% after these two loss-making trades.
 
And this is how the balance chart looks now.
 

Photo credit: Myfxbook.
 
By the way, the drawdown had been high at 64% even before the demise – the trading method was quite risky in its essence. But the money management played a cruel joke to the vendor's real money.
 
But we are not to judge. The owner of the account we are discussing still has an option to maintain it – may be change the risk settings, deposit more money. Or admit defeat and update the EA.
 
 
We'd like to thank our reader Jordan Royce for suggesting the topic of this article.
 
And here is what another of our readers - C.C., wrote about this bot:
 
'Hi, i every day read from ur website and i really appreciate it. Please, take the time to read from myfxbook discussion topic on Sphantom! They blown their account and of most of the users completely disappointing what they stated in their website and in the mails sent to people contacted them to sella this scrap! The huge SL was intended only for safety reasons and was assured the presence of an analyst to avoid trades during the release of important news. They made buy trades on eurusd must before Fed and no intervention there was to reduce losses. The stop was only because their account had a margin call. they lost few hundreds dollars but earned hundreds thousand dollars selling this scrap. Now they disappeared and does not respond to emails. Please, take the time to make an review on this.'
 
 
You are welcome to share your opinions and trading experience with us.
Follow @forexbrokerz

corre71
Feb 03 2014 at 15:18
256 posts
vincegis 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



I AM IMPRESSED.

The SPhantom team could have packed up shop and gone on holiday, but they have not.

I am sure they were filled with as much dread as we were as they watched the trade go down the toilet.

We all knew the short comings of sPhantom and we lived with that and still bought it because their algo works........ MOSTLY.

Its the MOSTLY part that we have to manage. I took a 82% hit. And The sting hurts. But I still like their algo and will continue to use it.

What struck me during the trade was how little room there was to try and hedge out of the trade. SPhantom uses a large chunk of the margin.

There was a real opertunity that the trade would return to 1.3636 a one point. The team was probably hoping for that like I was. But the psychology of the market was running scared at that point. And so the fat lady sang.

A 100 pip stop loss is going to be trigged every 2 months or so. So I do not feel that is the answer.

A serious News filter 2 days in advance of of such serious announcements should help.






I AM ALSO IMPRESSED: 4 days to release a so full of contents communicate! i will explain why they lost 'so much time' to elaborate a so impressive reply, because they was pressed by Avangate to give some reply to me and other new customers. But here a lot are still so happy of this!! I wish to all of u good luck, u need!

Running only Expert advisors with good long term backtests and nice forward tests
corre71
Feb 03 2014 at 15:34
256 posts
Today till now 5 profitable trades in a row with VF (payed the half of 'Scammy'). That's scalping!!😇

Running only Expert advisors with good long term backtests and nice forward tests
forexpipcatcha
Feb 03 2014 at 15:53
325 posts
corre71 posted:
Today till now 5 profitable trades in a row with VF (payed the half of 'Scammy'). That's scalping!!😇


and tomorrow your wiped out...same ole short term rubbish lol

corre71
Feb 03 2014 at 16:00
256 posts
forexpipcatcha posted:
corre71 posted:
Today till now 5 profitable trades in a row with VF (payed the half of 'Scammy'). That's scalping!!😇


and tomorrow your wiped out...same ole short term rubbish lol

i don't think my friend! other eas close loosing positions not at 100 pips loss. take alook at thei history of last year and forexrazor where they trade also EURUSD like me!

Running only Expert advisors with good long term backtests and nice forward tests
corre71
Feb 03 2014 at 16:04
256 posts
@forexpipcatcha what EAs u suggest that are long term good! i will take note and verify them and maybe will buy!! i am really interested! 😎

Running only Expert advisors with good long term backtests and nice forward tests
forexpipcatcha
Feb 03 2014 at 19:11
325 posts
there are several that have been in operation for years though they don't make much per month they do last long which is superior to what you have here.
PM me and I'll give you details except they are not for sale and I don't expect something that works well to be for sale which means anything for sale is useless lol

Timtoshis
Feb 03 2014 at 20:03
1 posts
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


You are truly awesome to stay and still be loyal to your customers despite all the negative replies. Thank you :)

gombosg
Feb 03 2014 at 20:03
22 posts
If sPhantom doesn't get back to work this week, I suggest we all file a fraud case with Avangate.

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