A phantom advisor is a tool of technical analysis, which is actively used by traders for working in the Forex exchange market, as it was created precisely for trading by the currency pairs and can’t be used for trading on the stock exchange, securities market, the market of precious metals, etc. However, it gives excellent indexes with all currency pairs (standard or cross-currencies) and the time for trading can also be chosen (night or day). Thanks to it you can review and analyze the overall situation in the market, and also it opens and closes deals instead of a trader. It makes it the most comfortable advisor for traders, who don’t have much free time but have a huge desire to earn money in this sphere.
Trading with the Phantom robot
Before trading, you need to download a Phantom advisor, since it isn’t one of the standard tools of technical analysis, which can be found on any trading platform. Download the Phantom on MTDownloads website for free and start using it today. After downloading, which takes only a couple of minutes, you need to install a robot on your trading platform, which will also take no more than a couple of minutes. It is better to use the popular MetaTrader4 or its newer version, MetaTrader5. The installation is standard for all indicators, and it is easy, but if you have some problems in the process of installation, you can find the needed information on the Internet. After the installation, you need to set the parameters of the tool. They aren’t too complicated to configure, but you need to understand something if you are setting a trading tool for the first time.
The standard parameters of the Phantom:
- The width of the channel is 4;
- Fast EMA is 8 (number of bars, that will be analyzed on the concrete timeframe);
- Slow EMA is 17 (the number of bars, that will be analyzed on the specific timeframe);
- Distance EMA is 10 (the number of pips);
These indexes are optimal, however, if you understand the technical analysis, you can vary them based on the chosen trading strategy. In addition to the mentioned above settings, you can also choose the color of lines, their shape and other settings, which has each indicator by default and they don’t require special attention.
After you have selected all the settings, you can start trading with the Phantom robot. It isn’t recommended to pick too short time periods, M30 and H1 are appropriate . You can experiment, but it’s better not to deviate from the mentioned time frames.
Most often this tool of technical analysis is used for trading 14 currency pairs (buy):
A significant advantage of this instrument is that it can be used simultaneously with each of the currency mentioned above pairs. It means that the robot is based on a complex mechanism and the strategy of the tool is not a standard one. To make a long story short, it is an optimized tool for technical analysis and if you have any doubts whether to use the trading advisor Phantom, then try it on the demo account and when you see the first positive results, your doubts will at once disappear.
The advantages and disadvantages of trading with the Phantom indicator
About the benefits of this advisor will much better say the statistics, which says:
- In six months, the deposit will increase by 300%;
- Maximum drawdown not more than 37%;
- Loss transactions - less than 1%;
- The probability of success is 91%;
- Risk - 11%.
Also, the advantages are:
- The comfortable and quick installation;
- The simultaneous opening of transactions by 14 currency pairs;
- It is automatic;
- Minimum drawdown.
Despite such an amount of advantages, the Phantom also has drawbacks:
- It opens deals very rarely (on average - a couple of times per week);
- Working with this robot you will not learn how to trade, as it is set up to open and timely close profitable orders;
As you can see, Phantom has more advantages, than disadvantages. This and the multi-functionality of the advisor makes it very popular among the professional traders and the beginners in this field.
If you don’t want to spend a lot of time learning the specifics of technical analysis and the trading process as a whole, the Phantom Robot will make all the work instead of you. Download the Phantom on the website MTDownloads for free and get the first profit today.