Well, the vendor's account looked good so I decided to give it a shot. If it wasn't for the stupid 50:1 leverage limitation I would be in profit. You can see our official demo (which has 500:1 leverage and is still in profit) here:
Just to clarify: Phantom is not a grid trading strategy, it's a scalper, but it does have the worst risk/reward ratio 'ever'. Also, Nick's test appears to be trading a much higher-than-recommended lot size too. A $3k balance should be trading about 0.07 lots, not 0.12. That will affect the drawdown too.
The risk/reward ratio is horrible but... we've only had 1 stop loss in 2.4 months out of 858 trades. Obviously the goal is to have a large enough stop loss that you only hit it during trends but avoid the SL hits during all of the ranging markets.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
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Past performance is not indicative of future results.