sPhantom Auto Trader Discussion

My trades got stopped out. My equity was hit massively with 48.33%. I used a custom stop of 120 pips. I wonder if I'd stuck with 200 pips SL, would I be able to ride this out.

Nobody knows that. Price can go down 50 or 100 pips more, and can not. It can retraceback to BE level, and can not. Now it is pure gambling.

Im out with a massive hit.. such a shame as it really was one bad trade..

NikX posted:
Im out with a massive hit.. such a shame as it really was one bad trade..

Yes, they were doing stellar before this extremely bad trade, I am guessing they don't follow the fundamentals as closely as they've used to and rely only on the technicals now.

I've defended them before, but now I think it's time for them to just come out and explain what exactly happened. Sure, everyone's made bad trades and this is no reason to disregard their previous results, but being able to hear from the proprietor will be reassuring at this point.

Brendan777 posted:

NikX posted:
Im out with a massive hit.. such a shame as it really was one bad trade..

Yes, they were doing stellar before this extremely bad trade, I am guessing they don't follow the fundamentals as closely as they've used to and rely only on the technicals now.

I've defended them before, but now I think it's time for them to just come out and explain what exactly happened. Sure, everyone's made bad trades and this is no reason to disregard their previous results, but being able to hear from the proprietor will be reassuring at this point.

Agreed, this whole week has been questionable, I was going to shut it down after this trade once the second had opened.

SPhantom hasnt been present on the forum for some time, would be nice to hear what happened? will the service continue? or pack up shop and leave us hanging?

It is almost 24 hours when it startet, and all you got support not from sphantom, but from pipinvestor... Thats not serious.

Also I cant understand why they used risk 3 instead of more safe 2. They were thinking that market will never play against them? Thats not professional. But they claim they are professionals...

I have a question for Sphantom and i expert they will reply! Looking at the history of trades, the worst loss is of 23.1 pips. Why you didn't stopped the trades earlier ? Also with a loss bigger of 20 - 30 pips, but not waiting the price collapsing in this way. I would like to know if the Huge stop loss is only for security reasons and usually the trades will be stopper earlier! I think the users of this ea deserbe to know what type of system they are using. I am not afraid of drawdowns, they are normal in trading activity, but i don't want to leave profits of 20 profitable trades for only 1 losing trade.

it seems there were time when the EA holds a losing trade for a couple of days until it goes back in profit but not sure if this will happen for this trade today.

UncleSteve posted:
well, I shut it down. lost a lot but you get that on the big jobs.

gonna leave it turned off for a while and put it down to experience... and I won't recommend it to anyone...

I shut it down too. Today it may go up a bit.

the total pips loss for 2 trades is at 201 pips. the sl for each trade is 250. its still about 150 pips away from their stop loss not 50

@Brendan777 We represent our own FX signal not related to Sphantom, However, we're traders with the same purpose as others here. sPhantom will only wait til a full stoploss or the 10 pip Takeprofit which ever happens first and we see that many customers would like an alternative. We're offering a helping hand during these hard times. We don't recommend adding to these Long EURUSD positions and taking a loss on any significant pullback would be highly recommended. View our EURUSD for further instructions.

As I already told Ken, I was the reason why the EA's record turned south, I just bought it and started using it this week. I wouldn't call it a nice start! :)

I really hope that the signal is going to continue just because the example account gets messed up...

For an EA provider that has been fairly consistent in their strategy up till now (i.e., not trading so close to an extremely price sensitive event) this looks like a complete stuff up. No common sense used here at all and unfortunately at the expense of those whose trust has been built up over time. Very disappointed!!

Brendan777 posted:

corre71 posted:

Don_P posted:
Hi guys,

 Just wondering if any of you are using other EAs or trade copiers as well as sphantom to spread your risks and expand the portfolio? If so, what other systems do you use and are you happy with their performance?

Thanks

I am using also Wally with both settings they use on Myfxbook and till now i can say it is incredible! i plan to buy also other EAs!

@corre71 Can you please advise what settings you are using for Wally? Thanks!

3%risk

Hi,
I cancelled two trades in heavy loss. sPhantom is no good at all!!! I disable EA.

This was always going to happen it was just the matter of time.. Even Sphantom said a few times dont trade what u cant afford to lose... I use these guys as a supplement to my own trading. .. this day was bound to happen... this is just a new fxpapa another will come up and people will again lose large amounts.. the longer they can go without a loss the more people sign u up then the more they make... They walk away with a bag load...when they go bust they do the same thing again under a new name... learn how to play these copiers and the loss will not hurt anywhere as much... good luck all...

For berendan777: sorry, risk 3% is for Sphanto. As for wally i will makwe a post later with the suggested settings from the vendor!😄

Here the settings suggested by the vendor for Wally:

Dear Carmine,

Here are the settings which we use in our accounts:

1. Real money account with default settings:

- For EURUSD:

AutoMM=3
RecoveryMode=true
FridayExit=true
LastTradeHour=17
ExitHour=21

- For GBPUSD:

AutoMM=5
RecoveryMode=true

- For AUDUSD:

AutoMM=3
RecoveryMode=true

- For USDJPY:

AutoMM=3
RecoveryMode=true

- For USDCHF:

AutoMM=2
RecoveryMode=true

2. Real money account with alternative settings EUR33 and GBP30:

- For EURUSD:

UseCustomPair=true
UseSettingsFrom=EUR33
AutoMM=7
RecoveryMode=true
FridayExit=true
LastTradeHour=17
ExitHour=21


- For GBPUSD:

UseCustomPair=true
UseSettingsFrom=GBP30
AutoMM=7
RecoveryMode=true

 
Sincerely,
WallStreet Forex Robot Team

I have changed only AUTOMM at the valus of 2 but soon i will switch to the values suggested. You must also adjust your GMT settings. Anyway they provide fastly sttings to all new customer. I have sent them at least 10 e-mails in 1 dya and they replied very fast!!

Guys, the price will go up soon because there is great divergence appears on M30 , and 1H , JUST be patient 😎