Scott's FXPhantom (By forexverified)
The user has deleted this system.
Scott's FXPhantom Discussion
Jun 01, 2012 at 23:42
995 Views
7 Replies
Member Since Sep 02, 2011
25 posts
Jun 05, 2012 at 16:19
Hi ragency,
A. I'm in the USA and wanted to use a USA broker with tight spreads. That stuck me with 50:1.
B. Yes I'm concerned about drawdown as anyone should be - the vendor's recommendation is to keep the lot size small so we can survive any drawdowns. Only time will tell how it works out.
Scott
A. I'm in the USA and wanted to use a USA broker with tight spreads. That stuck me with 50:1.
B. Yes I'm concerned about drawdown as anyone should be - the vendor's recommendation is to keep the lot size small so we can survive any drawdowns. Only time will tell how it works out.
Scott
Adding transparency and quality to the Forex market, one trade at a time.
Member Since Aug 16, 2010
453 posts
Jul 29, 2012 at 18:08
50% loss means you need to win 100% only to get back. For me it means this account/trading method/robot is finished.
Was mich nicht umbringt, macht mich stärker.
Member Since Sep 02, 2011
25 posts
Aug 08, 2012 at 18:34
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:
https://forexverified.com/reports/fxphantom/fxphantom001.html
This little live account of mine is trading way too high of a lot size in an effort to recover quickly. It will probably have another margin call. We'll have to wait to find out.
Scott
https://forexverified.com/reports/fxphantom/fxphantom001.html
This little live account of mine is trading way too high of a lot size in an effort to recover quickly. It will probably have another margin call. We'll have to wait to find out.
Scott
Adding transparency and quality to the Forex market, one trade at a time.
Aug 09, 2012 at 21:39
even with higher leverage, how can u trust a grid ea wthat had over 50% dd that generates 9% a month? that is the worst risk ratio ever
https://www.myfxbook.com/members/NickMcDonald/fxphantom/327594
https://www.myfxbook.com/members/NickMcDonald/fxphantom/327594
Get Rich or Die Trying
Member Since Sep 02, 2011
25 posts
Aug 12, 2012 at 18:39
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.
Scott
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.
Scott
Adding transparency and quality to the Forex market, one trade at a time.
forex_trader_79941
Member Since Jun 06, 2012
1439 posts
Aug 12, 2012 at 18:43
'we've only had 1 stop loss in 2.4 months out of 858 trades.'😑
then trade with 1 TP 1000 SL 😉
then trade with 1 TP 1000 SL 😉
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