sPhantom Auto Trader Discussion

If its taking 2-3 sec for your broker to receive orders, thats a pretty long time. You can do a ping test to determine the time it takes. Also, alot of brokers offer VPS. My broker (Traders Way) offers a good, basic VPS package at $20 a month; but if you maintain a balance of $1000, its free. 😄

sorry-that should be 20-30 ms (milli-seconds).

That might be the problem..... any broker recommendation to avoid this? because if it took place in the opposite direction [the move is heading towards SL] it'd be disastrous!

Thank you all!

This is the same EA owner https://www.myfxbook.com/members/FxPapa
after market is change behaviour , it'd be disastrous.

@Fred: Nobody needs such comments. It does not help it is not true and it gives us no profit. Then let such uselessly comment.

farzadtahriri posted:
This is the same EA owner https://www.myfxbook.com/members/FxPapa
after market is change behaviour , it'd be disastrous.

again and again... how did you get this information?
just because you want to say something? or do you have a proof?

Wilgart, i am shure they have no proof. All this guys are only rumor makers, nothing behind. I hate such mind and behavior it is unscrupulous.

i run with vps and broker gpkx and no problems so far.

Even if it's the same owner of FX papa... They lost because they didn't pay attention to news. but now, they don't trade news or Fridays! and they're doing well since May!

husar2003 posted:
i run with vps and broker gpkx and no problems so far.

broker aaafx no problems too. i love sPhantom ^ ^.

Mouradh posted:
Even if it's the same owner of FX papa... They lost because they didn't pay attention to news. but now, they don't trade news or Fridays! and they're doing well since May!

Its not true. They traded the last two biggest news events.. NFP and ECB rates decision.. It was lucky it went in their favor or it could of ended up like one of their previous FXpapa's big losses...

1 That's something we have to think of.
The customer version of the ea has a default SL of 200 and you can change it
Some other ea have a SL of 50 to prevent sudden loss but they hit thi SL often .
The 200 PIP SL (or 100 to 120 as sphatom gave me as a minimum setting)
might prevent hitting the news spikes.
Then you have a 50% chance to get a fast win - or loss. Isn't it that way ?

2 Not all events are related to a economic calendar, but almost!

3 I reduce risk by choosing smalest risk setting for me to 0.5 what results in a 0.1 LOT size on y standard account,
Of course chances are reduced in the same way. But better safe than sorry.
There is an on other ra running for me on the same account and both ea keep positions very short and do not keep positions at the same time due to different trading strategies. See also issue 5.

4 A single 200 PIP fall with two positions, my account will survive this.
Main point is : will the series of wins in sum add cash enough to cover a single sudden loss.
sorry, no glass bowl available around me. See issue 5.

5 An an other truth is : Have 20% or 50% more on the account than advised. I read this somewhere and i foloow this.
Starting with dust and getting tons of gold might be a modern version of an ancient Grimms Märchen
All advices for starting with 100$/1000$ or less might be dangerous for possible bad starts of any ea.
When going well you might take the money of again. This additional cash allows me to run the 2nd ea.

LOL. It's pretty much a given that whenever Mario Draghi of the ECB opens his mouth, you can short the euro and make $$$. From the way I've seen sPhantom act, they generally do not trade on major new events. Comparing trade times to news events on forex factory seems to show this pattern, and I like that there is no trading on Fridays; to avoid the weekend swaps and monday's trade gap. Gives us a 3 day weekend! 😄

husar2003: Are you using a broker with smallest lot size of .1? Have you considered moving to one that offers smaller lot sizes? I originally tested this EA on a very small $100 acct. A .1 lot size on anything less than $1000 is pretty risky (and to me, .1 on a $1000 acct is still risky). I agree that withdrawing wins on a regular basis is the key to the game.

Have a great weekend all!. See ya Monday!

love it, since usd 100 for initial deposit... still wait and see...

Anubis posted:
..
husar2003: Are you using a broker with smallest lot size of .1? Have you considered moving to one that offers smaller lot sizes? I originally tested this EA on a very small $100 acct. A .1 lot size on anything less than $1000 is pretty risky (and to me, .1 on a $1000 acct is still risky). I agree that withdrawing wins on a regular basis is the key to the game.

Have a great weekend all!. See ya Monday!

I agree to lot size issue,i do not run on a 1000$ account with the 0.1 there are some bucks more on it ;)

farzadtahriri posted:
This is the same EA owner https://www.myfxbook.com/members/FxPapa
after market is change behaviour , it'd be disastrous.

Yes. There is plenty of proof that its the same trader. No one cares until the system fails then you will care. For now profit come in and you all happy. Just wait and you will experience the same as the FXpapa customers 1 year ago.

Remember this is a signal service that you just signed up to. You can not backtest the product. You don't even get a product here. All you get is a signal for a Flat Fee.

What signal provider charges only once? A scammer.

You paid up front for as long as the system survives.

Same Strategy
Same IBFX Broker
Same behavior

sorry, I don't see any proof here.
you just talk and talk...

how can you say 'same strategy' while you recognized its a signal provider and you cant back test???
did you have the EA in your hand to compare the code?
maybe they copy the FXpapa signal and improve this signal ;)

how many are using the IBFX broker?
Its not the first system with this broker

Give us something real. because your 'plenty of proof' is more 0 proof for now...

I believe we've gotten your warning now at least three times there cowshit. Unless you've got something substantive to add, go crawl back under your rock would you?

I have to say - maybe I'm missing something - but is there anyone here who seriously expects the system never to 'fail'? It will eventually fail - and that's totally fine. You're looking at a system that has generated 750% in 5.5 months. You've had plenty of opportunity to withdraw your gains and it would be foolish to think the system will get every single trade right forever. But even if it had a bad trade now that crashes the account - so what? I'm very ok with a system that can multiply my money by 7 in less than 6 months, even if it fails a couple times a year. With proper money management what's the issue?