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Suggestion News Expert Advisor - worth to try it.

Andy4Rum

Andy4Rum

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Hey all,

News are quite good in trading (IMHO). You need to spend 5-10 mins and moves brings good
Pips fast. Sure, there is a bad side as risk. Anyway, if you manage it right - I'd forget about the
bad side. Files are attached. Below a little more details + video about its idea. You can use ANY
news source and share one you are using. As for me, I prefer forex factory with news calendar -
quite happy with it. What news calendar do you use?

news_ea_1pic.png


First of all, you can set it for 1 week and forget about it. Use just big news (normally flagged with red color).
All you need - just fill the time and activate DAY. Add any comment (news name is the best way) and you
will see it in the comment to order (ID, magic). This will help to identify trades by news.

Just in brief:
Step 1: set news time and name/comment for you (use terminal time - Market watch)

Step 2: set lot size, distance in Pips for upcoming Buy/Sell stop orders (above/below the current price). You will see 2 lines (blue and red) on X distance from the price 1 minute before the time you set. Lines will move up and down and strictly follow the price on distance Pips

Step 3: 5 sec before news time you get 2 stop orders.

Step 4: You may set cancellation time is seconds. By default its 60 sec. In 60 seconds both stop orders will be removed. If you get a BUY or SELL order - it will cancel other stop order.


 

Attachments

BrookeM said:
what time should I use? Confused a bit.
Click to expand...

You should use terminal time (Market watch). Previously, it was fine with GMT. But due wrong offset
they changed it to Market watch to avoid any possible mistakes.

By the way, this week is plenty of "red" news... good way to try it out!
 
I trying this ... Any clue on "best Settings"?
For now, what I understand is that "cancel sec" should be set to 120 seconds.
because it happens that the orders closed already and then the price moved..
what about TP and SL?
I will try with:
TP:25
SL:30
BE:10
 
Thanks, so far I never use ea based news, almost ea I am trying martingale based
maybe this will become incredible trading software for traders to help them to make money.
 
bobbythomas said:
I trying this ... Any clue on "best Settings"?
For now, what I understand is that "cancel sec" should be set to 120 seconds.
because it happens that the orders closed already and then the price moved..
what about TP and SL?
I will try with:
TP:25
SL:30
BE:10
Click to expand...

It depends on news type. Quite often, I expect up to 50 Pips on big news (but latelly fluctuations are
definetly smaller than in the past).

TP 35, SL 25 & BE on 10 is quite OK.
120 sec is more than enough, Market reacts fast on good / important news.
 
blackking said:
Thanks, so far I never use ea based news, almost ea I am trying martingale based
maybe this will become incredible trading software for traders to help them to make money.
Click to expand...

I know that Martingale has 2 sides. I don't think it's bad or good, but definetly worth to try. With the right MM you can easily manage
your risks. But idea of Martingale helps to cover losses much faster than any other diamond tool. But just if you strictly follow MM rules
and lot size should be smaller than by trading with the usual system.
 
Thanks for the sharing.

If for example the AUD is flagged with red color(High impact), which pairs should I trade with?
 
bobbythomas said:
I Think AUD/USD or better GBP/AUD as GBP has more volatility.
Click to expand...

I am thinking of trading all the major currencies with AUD if AUD is flagged RED.

AUDUSD, GBPAUD,EURAUD, AUDNZD, AUDCAD, AUDCHF and AUDCAD, total 7.

So If GBP is flagged RED, same idea, will be 7 pairs if using the rest of the 7 major currencies.

What do you and the rest think?
 
lengendsh said:
I am thinking of trading all the major currencies with AUD if AUD is flagged RED.

AUDUSD, GBPAUD,EURAUD, AUDNZD, AUDCAD, AUDCHF and AUDCAD, total 7.

So If GBP is flagged RED, same idea, will be 7 pairs if using the rest of the 7 major currencies.

What do you and the rest think?
Click to expand...

Yes, that's true. Also, agree that GBP pairs have more volatility :)
 
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