News Trader EA - page 7
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Just out of curiosity I've done little excel file (which is attached) to calculate which currency is the best to concentrate on but looks like it is not very important since theres no huge difference in profits. p.s. newdigital, Please add excel (xls) file extension to allowed file upload list. I can not see why .doc is allowed but no xls.
Thanks for the file.
I really think now to trade less with more profit: NFP and some other news. Just once per week may be enough. And not all 4 pars: it should be depends on the news.
I think we should start some discussion about the news: why, some analytical discussion and so on. Otherwise we will fully rely on somebody who created some forex calendar (forexfactory for example). I am not using forexfactory calendar ...
May be we should create a section for this EA inside elite section (news discussion, our own forex calendar, EA, trading, settings ...)? And does not mater how many people will follow because it will be still elite section.
I found the following:
the news we are trading is more important than any otyher options in this EA.
For example it was the following news (see text file in post #1):
It is 45 minutes between the news. And because of that I got my first losses (demo acount).
I should select the news more carefully.?? I have the same news text file of you, trading live and do not occur loss....
How do you make your loss ?
.... May be we should create a section for this EA inside elite section (news discussion, our own forex calendar, EA, trading, settings ...)? And does not mater how many people will follow because it will be still elite section.
Fully agree. this one is good and we could optimize it more.
?? I have the same news text file of you, trading live and do not occur loss.... How do you make your loss ?
Losses. For EURUSD. -50 pips. Because the time between the news is 45 minutes only. I am not closing anything manually because i am just testing on demo.
Igorad,
Just a suggestion for some improvement:
may this EA check open trades first, and if any - close it, the then only place pending orders? because it may be 2 or 3 news events during the day so it is the better to trade tham all.
Yes... Thanks for the great coding Igorad.
I already use it live with success. I will now test more settings.
Question : can we include a new functionnality ?
When the EA try to place a pending order who is not accepted by the broker because of increased swap before the new, the EA try immediatly the replace another order but + or - 1 pips until it's able to place the order. (in a loop)
I know we have the PenOrdGap variable but it's to place as soon as best the order...
just a question ;-)Well, it is a good EA.
But success of news trading very much depends on the broker (increasing spread, requoting, trading environment busy, etc.).
dswk,
Which broker do you use for news trading?
HI.. I have a first problem for us which might be not a problem but just a answer to the question I am asking myslef...
Q:Why news jump some times one way, than another , than jump again in a short time.. is it reaction to the news???
A:No.. I've just realized that what is happening! Different news at the same time report
f.e.: Today, Friday we will have this news:
USD Import Price Index (MoM) (DEC) 13:30
USD Import Price Index (YoY) (DEC) 13:30
USD Advance Retail Sales (DEC) 13:30
USD Retail Sales Less Autos (DEC) 13:30
I can only imagine what will happen after the first report... of course it will be a jump but what if other news will move market opposite way? It is a simple LOSS....
BUT!!! I think it is everybody's logic is to give more important news first and then less important after... so I think if 2nd,3rd,4th reports will not be able to move market price.
That is my thoughts.. I might be wrong... Let me know what you think about it or how to deal with it..
Thanks.
Thanks for the file.
I really think now to trade less with more profit: NFP and some other news. Just once per week may be enough. And not all 4 pars: it should be depends on the news.
I think we should start some discussion about the news: why, some analytical discussion and so on. Otherwise we will fully rely on somebody who created some forex calendar (forexfactory for example). I am not using forexfactory calendar ...
May be we should create a section for this EA inside elite section (news discussion, our own forex calendar, EA, trading, settings ...)? And does not mater how many people will follow because it will be still elite section.you are right kanaps, there is an important point;
all the news important for the market but one of them has more impact than others. for example tomorrow market awaits retail sales index because of measuring consumer attitudes not import-export prices that will seen in CPI and PPI.
shortly, we wanna trade throught market direction so we prepare ourself for market news direction the other parameters in the short term just only a prediction for other datas may be....
Is it possible to have a third party data feed into MT4? That way preset triggers could be set up ahead of time in the EA and if the data feed of the release is different by the forecasted number it automatically places the trade. If its in line with forecasted numbers, no trigggers are hit and it doesnt place a trade. There are some subscription services currenttly doing this.
Mike
Kanaps,
Well, choppy behaviour of market after issuing news is partly due to the publishment of different indexes at the same time and in other cases there are corrections of the earlier published versions of the same data.
When news differ from the market expectation then sometimes there are several minutes spent while the market tries to understand, analyse and evaluate the actual situation and its impact on the economy. In this cases there is no relevant movement for a while then the market starts to run or there are several whipsaws one after the other before the market decides what the preferable direction is.
Forexmentorprogram,
I agree: big movements start up when the news differ from the market expectation (e.g. BOE decision yesterday) since they are really news. The market expectation is always published in the media well before the news come out, so it can be programmed into an EA.
I think the difficult part of implementation of this idea is to receive the news in due time and load the necessary data into the computer within microseconds. A direct connection to one of the biggest news agencies (e.g. Bloomberg, Reuters, etc.) would be nice to ease the implementatin of the strategy you posted.
Newdigital and Igorad,
For the EA development, I would like to mention the grid straddle strategy again that I posted earlier to here: https://www.mql5.com/en/forum/175898/page2
I had cases in my short FX experience when at a strongly whipsawing market I realized profit both sides of the initial market price with manually placed grid straddle. One can diminish the risk using that technique - but a good broker is inevitably necessary for the successful implementation.
...........
Newdigital and Igorad,
For the EA development, I would like to mention the grid straddle strategy again that I posted earlier to here: https://www.mql5.com/en/forum/175898/page2
I had cases in my short FX experience when at a strongly whipsawing market I realized profit both sides of the initial market price with manually placed grid straddle. One can diminish the risk using that technique - but a good broker is inevitably necessary for the successful implementation.Yes it may be good idea as an option (switching on and off).
I got PM from Igorad yesterday in the evening that he will implement this idea: close all open oeders from the last news before placing new pending orders for upcoming news. In this case we may test many news in a day.
Yesterday was "our case": it was some news and price moved to one direction with profit but suddenly we got the other news after 45 minutes and price was moved to the other direction (with profit as well). But I did not get this profit because my last orders with last directon were still opened.
I know that some people closed the orders manually (because they are testing with real money). I did not (because I am testing on demo account).
So we may wait for the next versions.