sPhantom Auto Trader Tartışma

And so the calculations state that I do not have enough margin to execute the hedge plan.

30% risk on SP closes out a lot of options in this circumstance.

Hmm.. maybe 10% setting for the rest of SP life.

i think this is one more proof of sPhantom being very similar to fx papa. At the end of fxpapa there was a huge DD, no responses from the owner. Majority fo the customers have closed the trade manualy but not the provider. As such, no new trades were available for the current customers. And then, suddenly, one day...the fxpapa system became private.

Is the history repeating?

So reality is not so promissing like theory.



And that is being driven home quite well over last week or more.

When SP came to market everyone laughed it off as a dead end EA. It has given good results, but today shows it's flaws up quite well and they are saying 'I told you so'

They also said it would not handle trending markets well, and I think we might be on the verge of just that, or maybe we have already emtered this stage.

While I'm not the greatest at Elliot Wave Analysis, this overall move down (from 0900 this morning) is impulsive. It looks like we've put in a 1-2-3-4 wave count. In my perfect world, the 5th wave down will be a failed fifth and we'll put in a little w bottom. I did put on a buy position 2 bars after the prior low (at 18:30) with a stop a few pips lower than that recent low. If I get stopped out, that means we do have a 5th wave down, and I'll be watching for that bottom to put another buy on. We are close to retracement time, and I hope to play this back to the 50% level of the overall move. My sense is, they will be watching this retracement to find the point to get out at a reasonable loss.

The tricky point is that at very same moment all elliotists will give you different market view and forecast :)

And what is the different between good forecaster and bad one? Both can give you a forecast but only good on will be able quickly explain why his forecast has failed

aaahhh stuff, it's money I would have drunk eventually anyhow, not money I was gonna feed me kids with

Sphantom Fans,

Our trading team is watching the EURUSD signals closely and we will post how we'll exit these trades. We have more trading history under our belt trading most Major pairs if you have doubts. We've experienced stressful situations that most traders would collapse while we keep our cool to new profits.

We also understand sPhantoms strategy ( entry Only) while we disagree with their 10TP 250SL terrible RR ratio that would eventually lead to ruins. Now that sPhantom Buy signals is at Temp Support of 1.3540, we would move our TP to a loss under the Turncoat resistance near 3600-3636. However, turncoat resistance at 3600 could keep the EURUSD from coming up higher.

USD is gaining from World Equities Selling Off. Please use a smaller stoploss to save your accounts from complete ruin.

We're all in this FX market together whether which Service or EA you are using. When 1 provider fails, it weakens the Retail FX market for all over providers because Risk Capital can't be given back. Once you are out, that is it. Be smart about your Risk tolerance and its perfectly ok to take a loss and start a recovery cycle.

Pip

Luckily and I would recommend this to most people, we only let EAs work with profit. Set the limits of the EA so if they blow up (which this potentially can but I still have faith) you don't lose any of your starting equity.

sPhantom Fans,

Here is a good exit strategy based on current price action. We will update this chart through out this situations.
https://www.myfxbook.com/forex-charts/EURUSD,M30/20356

I had to shut down the EA until it gets back on good track, its bumpy at the moment. Worked great last year.

Funny how things can snowball. Began with FOMC yesterday. Everyone knew the cutback on bond purchases by the fed would continue. But the unemployment numbers came in this morning significantly worse than expected, along with bad advance gdp and bad home sales, added fuel to this fire. I had pulled out of this trade early on, 9:45 am yesterday, prior to FOMC statement. At first, I thought I'd made a mistake.

The EA was working great, but I agree the R:R is a little too much for me. Think I'll give this one a rest too. Maybe reactivate in a few weeks. Want to see how all the smoke clears. Trying out a few of the Autotrade demos.

@PipInvestor Who do you represent again?

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...

Loss is at 201 pips, which means 49 more pips to go before SL is hit (assuming 250) on the MyFX SP chart, really interesting to see if it will be hit.

@UncleSteve I think this EA will work better with a much lower risk rating, I've dialed it down to about 5 right now. I am shooting for a 5% monthly return with that setting and giving it a chance to make back the money it lost. I think most people had it on 30 which will maximize profits, but all things will go to hell on days like this. Looking at the EA's track record, even with this one hiccup, it is still profitable as long as the risks are carefully accounted for (i.e., toning down the GREED factor).

i think eur/usd may touch 1.3500 later today.... judging from eur/jpy which has go much lower in asian session. bad news...

SP MyFX is at 63% DD, those of you at risk 30 and haven't closed the trades yet must have balls of steel, I salute you.

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!

Brendan, it is just 125 pips from first order, not 200. That is on Bid at 1.3541. It wil never reach sl of 250 or mental sl of 200 pips. See my posts here earler. It will get stopout very soon. Margin used is 250 usd, equity left 510 according last update, so there is only 260 usd left, with 0.92 lot it is jus for 28 pips to the 100% margin level, which usuaky is Margin Call level. But for sphantom it is not importat as they not going to open any new position according strategy. Then just 10-20 pips depending on stopout level of broker and orders will be closed by broker automaticaly, so it even could not reach 1.35