MUST KNOWs of Phantom Trader Things You MUST KNOW about Phantom Trader

  1. 1. All Demo and Live Phantom Trader EA applicants are required to use Remote Desktop offered by AlgomationFX when applying for the Demo and Live EA.

  2. 2. The login username and password to the Remote Desktop will be emailed to applicants within 5 working days.

  3. 3. The maximum tradable fund size of the EA is US$ 5,000 for Phantom Trader 5000 and US$ 10,000 for Phantom Trader 10000.

  4. 4. EA should only be used on a MINI account where the contract size is 10,000 per lot.

  5. 5. Use only 4 CHARTS, EUR/USD, EUR/CHF, EUR/JPY & EUR/GBP.

  6. 6. The time frame used for the 4 charts is HOURLY.

  7. 7. Ensure there is a SMILEY FACE at the upper right corner & comments on each chart.

  8. 8. UseCashOut is a parameter to determine whether the EA should continue trading or not. By setting it to True, it instructs the EA to stop trading after it has hit its designated profit target or stop loss. To re-initiate the EA, the user is required to remove all the EAs & re-attach the EAs back to the 4 charts.
    (True = Semi-automated)

  9. 9. By setting UseCashOut to false, the EA will be fully automated and automatically reset a new profit target and continue trading set by set. (False = Fully-automated)

  10. 10. StopLoss = 0.0 means there is no defined stop loss amount. By setting StopLoss = 3000.0, the EA will cut loss and close off all the trades if it has more than U$ 3,000 floating loss. However, please note that in volatile market or fast-moving market conditions, stop-loss orders can become market orders and may be filled at the prevailing price, which may differ greatly from the desired price.

  11. 11. Please DO NOT manually close any trade as it will affect the result.

  12. 12. It is NORMAL to see floating loss during trading.

  13. 13. To ensure accurate computation of profits/loss & lot sizes, it is Mandatory to enable display of "All History" at all times.

  14. 14. There is no guarantee that the EA will hit the profit target.

Disclaimer: Forex is a risky market. There is no system or person who can guarantee your success. You implement the methods introduced in this article and/or use this EA at your own risk. The author/owner of this information and/or AlgomationFX Pte Ltd shall not be held liable for your losses of any kind including but not limited to the failure or integrity of any of this software or trading system.