Discussion sPhantom Auto Trader

Hi!

Use this EA to reset the SL level because the sPhantom support is not responding. Open in a separate chart, but note that this EA affects all open trades.

I use 65 pips, for example. Take look at the EA's history and you can calculate your own easily. I have observed that over a DD of 65 pips,
- Risk of losing increases
- Trade time increases (loses context, just stays in for gambling...)
- And of course, money risk increases!

I don't want another 250 pip 'safety' SL. A 65 pip SL means the EA needs to have about 6-7 winning trades to 1 losing trade.

NOTE: you can rewrite this to reset the TP as well, if you would like to. If you do so, please post here. :)

maybe someone with the customized version could share it so everyone could pick SL as needed

gombosg posted:
Hi!

Use this EA to reset the SL level because the sPhantom support is not responding. Open in a separate chart, but note that this EA affects all open trades.

I use 65 pips, for example. Take look at the EA's history and you can calculate your own easily. I have observed that over a DD of 65 pips,
- Risk of losing increases
- Trade time increases (loses context, just stays in for gambling...)
- And of course, money risk increases!

I don't want another 250 pip 'safety' SL. A 65 pip SL means the EA needs to have about 6-7 winning trades to 1 losing trade.

NOTE: you can rewrite this to reset the TP as well, if you would like to. If you do so, please post here. :)

Hey, thanks for sharing. Got a question on your script:

StopLossPts = 600. Is that 60 or 600 Pips for stop loss?
Do I need to run this script each time a new position is being openned?

Should be 60, assuming 10 points per pip.

gombosg posted:
Hi!

Use this EA to reset the SL level because the sPhantom support is not responding. Open in a separate chart, but note that this EA affects all open trades.

I use 65 pips, for example. Take look at the EA's history and you can calculate your own easily. I have observed that over a DD of 65 pips,
- Risk of losing increases
- Trade time increases (loses context, just stays in for gambling...)
- And of course, money risk increases!

I don't want another 250 pip 'safety' SL. A 65 pip SL means the EA needs to have about 6-7 winning trades to 1 losing trade.
NOTE: you can rewrite this to reset the TP as well, if you would like to. If you do so, please post here. :)

Thanks gombosq. I have changed 600 to 650 in the inputs tab. I'll give it a test.

Hi,
Use Swiss army EA to manage the trade. Its free EA and an excellent tool to manage trade after trade is entered by any EA or manually.
See the swiss army EA to download at https://www.forex-tsd.com/metatrader-4/7552-swiss-army-ea-automatic-order-management.html

Regards,
Dhiraj

gombosg posted:
I use 65 pips, for example. Take look at the EA's history and you can calculate your own easily. I have observed that over a DD of 65 pips,
- Risk of losing increases
- Trade time increases (loses context, just stays in for gambling...)
- And of course, money risk increases!

Well ideas. I just do the same works. Yes, average of DD is about 60-65 pips.

According to the statistics of DD
Total trades: 142 so far
>=60 pips DD: 13 with 9%
<60 pips DD: 129 with 91%

'StopLossPts = 600. Is that 60 or 600 Pips for stop loss?'

Yes, it is in points, the default value for MT4. 1 point is the last digit on the right side of any chart, e.g. for most brokers it is 0.00001 (1/10 pip) for most pairs except JPY.

'Well ideas. I just do the same works. Yes, average of DD is about 60-65 pips.

According to the statistics of DD
Total trades: 142 so far
>=60 pips DD: 13 with 9%
<60 pips DD: 129 with 91% '

Hopefully sPhantom will continue working with these stats. I'm gonna watch the red news this time though.

Does anyone know a way how to turn EA-s on/off according to a pre-set time? Or I have to start and stop MT4 (on a VPS) with a scheduler software?

Manually close the position in few positive pips. Price is waiting to jump soon and it stay in the middle of support and resistance line with indecisive movement.

Guys, you keep talking about the SL while again you let sPhantom trade before red news. Have you ever had the idea to have a look at Myfxbook economic calendar as a must do in your 'strategy'? Actually you are again having an open trade 24 hours prior to Fed's Yellen speach + 3 more red news, 12 hours to FOMC meeting and 2 hours to New Home sales news. And I'm almost sure one more trade will be open tonight.
You may close in profit as most of the times happens, or you may experience one more time panic and a heavy loss just because you didn't mind it to switch the EA off according to the economic calendar.

'Guys, you keep talking about the SL while again you let sPhantom trade before red news. Have you ever had the idea to have a look at Myfxbook economic calendar as a must do in your 'strategy'? Actually you are again having an open trade 24 hours prior to Fed's Yellen speach + 3 more red news, 12 hours to FOMC meeting and 2 hours to New Home sales news.'

The trade you are mentioning has closed already in profit.
Well, there are red news almost every day. We can't help, there always will be 24/12/2 hours before, the only thing we don't want is actually staying in the trade while some news are moving the price in the wrong direction. Personally, I'm taking a look at it shortly before and acting accordingly.

'You may close in profit as most of the times happens, or you may experience one more time panic and a heavy loss just because you didn't mind it to switch the EA off according to the economic calendar.'

And even then, setting a better SL ensures that in times of panic, the losses will be much smaller. :)

anyone know if it's possible to use it on MT5 , or can it be modified for MT5 ?

Darren2013T posted:
Manually close the position in few positive pips. Price is waiting to jump soon and it stay in the middle of support and resistance line with indecisive movement.

Haha...a big drop. Is fine i get less than 10 pips profit.

two trades in ... anyone panicking? lol

Manually closed out for a small loss as well, this is not a set and forget EA, but it works well when it does.

forexpipcatcha posted:
two trades in ... anyone panicking? lol

I got one position only and it was already closed for 10 pips profit.

However, i don't think it is good to long, too early.

look at the sphantom now on here it has two positions open

Darren2013T posted:

forexpipcatcha posted:
two trades in ... anyone panicking? lol

I got one position only and it was already closed for 10 pips profit.

However, i don't think it is good to long, too early.

I got different too.
open price 1.36851 already closed for 10 pips profit while sphantom still open.
open price 1.36599 was not copied in my broker. open it manual :D

forexpipcatcha posted:
look at the sphantom now on here it has two positions open

This is my position that was closed. You may check my LIVE account (LIVE_P200) here
02.27.2014 01:38 02.27.2014 03:28 EURUSD Buy 0.05 -60.00 10.00 1.36838 1.36938 10.0 5.00 1h 50m 2.93%