Discuss sPhantom.com

[SandGrain]

Hey everyone,

This EA is definitely one that got my attention. But as I've read reports from other EA's, I would like to ask something, just to confirm ..

When you buy this, do you get the actual EA, or a plugin acting like a copier?
And if I want to test this EA with a few different brokers on a demo account, do I have to inform the seller of all account numbers? Coz with the difference in spread etc, the outcome will differ quite a bit.


Update 26-11:
I found the answer to my questions (as nobody replied ...)
It's not an EA per se ... it gets it signals from the main computer, including adjusted take-profit or second trade to counteract the loss (if there is).
So I see it more like a copier. And it's not a bad thing. I see more (better) results from human interaction than EA alone.

 

[AbdullahSalah]

i am still thinking to use this EA could you give me your advice. contact with me on -- fx.abdo87@gmail.com

 

[pipmenow]

I wonder what some of the other broker results are. Since this a 10 pips or so scalper I am always concerned how well it performs with other brokers. One or two pips difference would not be so terrible. With no trial or refund it makes it harder to find out.

 

[Patita]

This is my third and last week with sphantom auto trader. And why?
Because in the last 24hours, it wiped out over 90% of my account, while i was at work.
They have no damage control, they didn't take the loss when it was small, opened 2 (rescue) trades, which started to lose also, and just let it running...
When it had 3 open losing trades, i sent them an email to understand what was happening, but got no answer.
I thought they had an emergency stop loss for unexpected situations, but they don't...
I trusted them, based on past performance, and now i have nothing...

 

[resin17]

This is my third and last week with sphantom auto trader. And why?
Because in the last 24hours, it wiped out over 90% of my account, while i was at work.
They have no damage control, they didn't take the loss when it was small, opened 2 (rescue) trades, which started to lose also, and just let it running...
When it had 3 open losing trades, i sent them an email to understand what was happening, but got no answer.
I thought they had an emergency stop loss for unexpected situations, but they don't...
I trusted them, based on past performance, and now i have nothing...

I am sorry to report, but my account has been wiped out too. The problem was that the first trade was opened in the morning before the FOMC meeting and I already felt apprehensive about that. At the time of the FOMC news release there was a big volatility and also a possibility to close a trade even with a small profit. This did not happen and gradually the first and the subsequent trades sank my account to the ground...

 

[uronemus]

i'm using alpari UK and mine took 10 pips profit my account is still fine with profit.

but it does seem on both here and fxbook accounts almost wiped out i guess i got lucky although don't understand why.

 

[FXMastermind]

Looks like the great run that sPhantom was having is over!

All due to very poor MM and neglect for FMOC volatility.

Trades opened should have had realistic tight stops which could have easily prevented the wipe out of their account in what turned out to be a couple of terribly managed trades.

Large S/L coupled to large DD on a small account .... spells disaster!

Happy to say I avoided the urge to join them but sad to hear so many have had their accounts almost wiped out.

In hindsight it would have been a good idea to to at least consider Jarora's 2 cents worth!

Just remember that whenever a system, EA or what have you trades with massive SL's there will come a time when it will be severely tested.

Pharoah pointed to this SL issue as a potential problem and well we can all see what happened.

 

[irobot]

Poor risk management blew the account

For a team of financial analyst this is poor. They just tried some cowboy trading that risked 90% account when they could of taken few small losses with proper analysis and respect for FMOC volatility. I was waiting for this as the ROi is no way sustainable without taking huge risk. I never got into this as I require at least year proven trading . If you are going to get into high risk system like this regular withdrawals may saved you, but not those who recently joined unfortunately . Shame shame shame sphantom . Poor money management.

 

[UncleSteve]

they also simultaneously stopped replying to emails and stopped posting in the forums. In the past they didn't trade the news.

What a pity, they were doing so well, I don't get what's in it for them.

 

[Dabeuldi]

Hello everyone,

I am one of those who used sPhantom on a real account ( FXOpen ECN) since early January 2014.
( The results seemed good on MxFxBook and regular ... )

We must recognize that in a first time, the trade of the day (1 / day) seemed about logical and fit onto the current trend .

But then things have deteriorated, and been less logical in the light of current trends , even tested with a common indicator like STOCH . , an finally about 70% loss , with one trade against the trend, doubled at a time illogical (?) and both closed almost at the worst time ...

In short, very far from what could be done by a very basic trader ...

- Do they have changed their method / strategy?
- Do they have entrusted the baby to a novice trader ? ( EA making only replicate the trades of the server)

I do not know, but in any case it is very unworthy of a supposedly Analysts team ...

TO AVOID ABSOLUTELY!

And ... of course, refund the product was refused ...