Phantom 6 - Manual System (Phantom 6 - Manual System) - MT4/MT5 Resources
This is a manual trading system using EA Phantom_AddSix_02a. First of all, thanks to MetaCoder, Frazer and others for developing this lengthy basket system. I hope MC doesn't mind using his EA here (thanks to the original author MC)
Before you read on, please visit the original thread: http://www.forexfactory.com/showthread.php?t=252521
Please read this thread from beginning to end. At least 2-3 times. Understand the method, understand the risks involved, understand the EA settings to get the best results, read and analyze the wonderful results published by Frazer, MC, vienna and others. If you don't understand any of these aspects, please exit this thread or you will lose money
What is Phantom_AddSix_02a?
We have 2 groups, the buy group of 7 symbols and the sell group of 7 other symbols. Together these 14 form a hedge. Among these 14,
We separated the top 6 performing groups. Buy 3 groups (GBPUSD, USDHF, EURJPY) and sell 3 groups (EURCHF, CHFJPY, GBPCHF).
These 6 together form a hedge. At the beginning, the EA calculates how much each pair (14 groups) has advanced. So at the top of each hour it calculates the "phantom gain" for each pair since the start time. If the largest winning currency pair is our phantom 6, then the EA will trade that currency pair in its direction. Do the same thing again 1 hour later. But the start time is always the same. However, the start time is reset every 8 hours to coincide with market times such as Australia, EU, US etc. If the combined profit exceeds the profit percentage, the EA will close all trades. The EA then starts a new period with the same start time until the start time is reset
batch size
This is the most important aspect of the approach and can make or break a system. This approach has the potential to generate huge losses and eat into large profits. So we need to achieve the optimal batch size. This is done through Maximum Margin Available (MMTU) and leverage. MMTU is the maximum margin committed per trade. Therefore, if it is too large, it will result in a lot size that is too large and you may encounter a margin call situation. If it is also small then the batch size may be too small and it may take more time to reach PP. Leverage plays an important role. Please visit the original thread to learn how this is accomplished based on your account settings. For a $3000 account with 50:1 leverage, you can use MMTU 0.4 and PP 0.25.
You can try adjusting these numbers in the demo to see which one works best for your account. Before you understand how it works, lower error means trading in small units
How does this manual system work?
You need a demo account with similar account size, leverage, and minimum lot size as a real account. This is mandatory. Launch the EA demo 1 hour before the EU market opens (i.e. 05:55 AM GMT). This EA must run 24x7. For some reason you stopped it, please start again at 05:55 AM GMT.
At 07:05 AM GMT, see what is happening in the demo account, how many open trades there are, what the current PL is, etc. There are 2 types of scenarios.
The current basket contains multiple trades (more than 5) and all trades are of the same pair. This means you found 7 transactions and all 7 transactions belong to the same pair. The pairing doesn't matter. In this case, do not trade on the real account until the demo account has completed this cycle. It can take hours, and sometimes days, to get rid of this mess. Stay aside.
Another scenario is that you have at least 2 pairs in your basket and the entire basket is in the red. Then trade that basket on a real account. You place the same order at the market price. If the simulated basket is on the profit side, wait for it to move to the loss side or PP is hit
It is very important to trade with the same lot size in real trading as in the demo.
If you trade baskets, check the EA and demo every hour for any new orders and place the same orders in real time. When the total PP reaches your PP level, close all transactions in LIVE and wait for the next cycle.
Please do not place any new orders after the end of the U.S. trading session. But if PP gets hit you can close them sometimes be prepared for huge retracements, in this case don't panic, be disciplined, it will come back to PP.
There is no stop loss concept in this system, but for my safety I set 200 pips as stop loss for each pair just in case not to trade on a big news day. Let the news fade before you jump in. Please practice this manual system on a demo system for at least 1 month. Open 2 demo accounts and treat 1 demo account as a real account
[u]Will this replace EA or does it perform better than EA? [u]
The purpose of this manual system is not to compete with EA. In fact, it depends on the EA, so it is as good as the EA. This manual system is suitable for those who do not have MT4 on their broker or are afraid of using EA on a real account.
Don't ask me how much profit you can expect to make in 1 week, 1 month, etc. This is not a get rich quick system. But if you follow it strictly, it can bring you considerable profits. Do this on a demo account for 1 month and see for yourself.
Before you read on, please visit the original thread: http://www.forexfactory.com/showthread.php?t=252521
Please read this thread from beginning to end. At least 2-3 times. Understand the method, understand the risks involved, understand the EA settings to get the best results, read and analyze the wonderful results published by Frazer, MC, vienna and others. If you don't understand any of these aspects, please exit this thread or you will lose money
What is Phantom_AddSix_02a?
We have 2 groups, the buy group of 7 symbols and the sell group of 7 other symbols. Together these 14 form a hedge. Among these 14,
We separated the top 6 performing groups. Buy 3 groups (GBPUSD, USDHF, EURJPY) and sell 3 groups (EURCHF, CHFJPY, GBPCHF).
These 6 together form a hedge. At the beginning, the EA calculates how much each pair (14 groups) has advanced. So at the top of each hour it calculates the "phantom gain" for each pair since the start time. If the largest winning currency pair is our phantom 6, then the EA will trade that currency pair in its direction. Do the same thing again 1 hour later. But the start time is always the same. However, the start time is reset every 8 hours to coincide with market times such as Australia, EU, US etc. If the combined profit exceeds the profit percentage, the EA will close all trades. The EA then starts a new period with the same start time until the start time is reset
batch size
This is the most important aspect of the approach and can make or break a system. This approach has the potential to generate huge losses and eat into large profits. So we need to achieve the optimal batch size. This is done through Maximum Margin Available (MMTU) and leverage. MMTU is the maximum margin committed per trade. Therefore, if it is too large, it will result in a lot size that is too large and you may encounter a margin call situation. If it is also small then the batch size may be too small and it may take more time to reach PP. Leverage plays an important role. Please visit the original thread to learn how this is accomplished based on your account settings. For a $3000 account with 50:1 leverage, you can use MMTU 0.4 and PP 0.25.
You can try adjusting these numbers in the demo to see which one works best for your account. Before you understand how it works, lower error means trading in small units
How does this manual system work?
You need a demo account with similar account size, leverage, and minimum lot size as a real account. This is mandatory. Launch the EA demo 1 hour before the EU market opens (i.e. 05:55 AM GMT). This EA must run 24x7. For some reason you stopped it, please start again at 05:55 AM GMT.
At 07:05 AM GMT, see what is happening in the demo account, how many open trades there are, what the current PL is, etc. There are 2 types of scenarios.
The current basket contains multiple trades (more than 5) and all trades are of the same pair. This means you found 7 transactions and all 7 transactions belong to the same pair. The pairing doesn't matter. In this case, do not trade on the real account until the demo account has completed this cycle. It can take hours, and sometimes days, to get rid of this mess. Stay aside.
Another scenario is that you have at least 2 pairs in your basket and the entire basket is in the red. Then trade that basket on a real account. You place the same order at the market price. If the simulated basket is on the profit side, wait for it to move to the loss side or PP is hit
It is very important to trade with the same lot size in real trading as in the demo.
If you trade baskets, check the EA and demo every hour for any new orders and place the same orders in real time. When the total PP reaches your PP level, close all transactions in LIVE and wait for the next cycle.
Please do not place any new orders after the end of the U.S. trading session. But if PP gets hit you can close them sometimes be prepared for huge retracements, in this case don't panic, be disciplined, it will come back to PP.
There is no stop loss concept in this system, but for my safety I set 200 pips as stop loss for each pair just in case not to trade on a big news day. Let the news fade before you jump in. Please practice this manual system on a demo system for at least 1 month. Open 2 demo accounts and treat 1 demo account as a real account
[u]Will this replace EA or does it perform better than EA? [u]
The purpose of this manual system is not to compete with EA. In fact, it depends on the EA, so it is as good as the EA. This manual system is suitable for those who do not have MT4 on their broker or are afraid of using EA on a real account.
Don't ask me how much profit you can expect to make in 1 week, 1 month, etc. This is not a get rich quick system. But if you follow it strictly, it can bring you considerable profits. Do this on a demo account for 1 month and see for yourself.
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