fx phantom has amateur strategy with poor results

by Admin
(brainyforex.com)

0 stars. FX Phantom was tested for 89 days through SynergyFX (demo account same as real account) with poor results.

The system had 656 winners and 86 losing trades for a final loss of -$23.41 and 2 open losing trades of -$139.60.

FX Phantom is coded with a amateur strategy similar to novice traders whom don't know their left hand from their right hand. The strategy takes small profits averaging between 1 and 5 pips while holding onto losing positions until they become so large that the system needs to close them. During the 89 days of testing there were three major losses of -242 pips, -126pips and -134 pips. Just these three losses wiped out the numerous hundreds of minor winning trades.

I don't hold out any future hope for strategies similar to this. Most novice traders invent trading strategies similar to this one because they can work for a short time. But that's about it - they only work for a limited time before those large losing trades creep in.

Very disappointing to see William Morrison putting his name to this system. Sorry William but I really think you should close down this system ASAP. I know your capable of doing lots better than this.

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