News Trader EA - page 13
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Further development of NewsTrader EA
Also I think that we should use different settings for different news trades.
We can use one settings(TP,SL,TS and gaps) for NFPs, other settings for Trade Balance and so on.Glad to see your plans, my second proposal contained something similar here: https://www.mql5.com/en/forum/175898/page2
Thank you for your excellent work Igorad, it is a great EA and I am happy with the further development.
What do you think about my first proposal?
I would try to code it into the EA once I had time, though I am not a programmer...
NZD retail sales
My settings for NZD retail sales @ 10:45pm CET later...
NZDUSD
------
Lots=2.00000000
TimeZone=1
TimeGap=5
OrderDuration=10
ProcessTime=2
SessionEnd=23
TakeProfit=50.00000000
TrailingStop=20.00000000
InitialStop=20.00000000
PendOrdGap=10.00000000
I ve decided to remove AUDNZD, my broker spread is to wide for this pair. so i've doubled my lots on NZDUSD.
You guys are somewhat missing the boat on news trades. The best way to make money is not to try to take the profit on a sudden upward or downward move in the EUR/USD for example, around the NFP, but to make money on the retracement. I have seen an EA that does just that. Whenever there is a big move there is always (nearly) a big retracement that is profitable and more consistent. One person I know took 40K and turned it into 100K in about 4 months with this method. You need to build a strategy around this method for news trading.
agree with u on retracement. But for sure, with the help of Igorad this powerful EA could catch both : News and retracements.
NZD retail sales : nothing on this one... my Ordergap was small... so EA created 3 times pending order but my broker or mt ? delete them...
agree with u on retracement. But for sure, with the help of Igorad this powerful EA could catch both : News and retracements.
My opinion that this retracements may be optional as 'true' and 'false' in the settings.
My opinion that this retracements may be optional as 'true' and 'false' in the settings.
agree too. but following my experience with GBP/USD, using fibo as exit point to catch retracements should be efficient.
The question is "if retracement= true" then "how/when detect the start of reversal/retracement", if detected, close the first trade (the news trades) and open a new trade (the retrace trade), until it touch the fibo retrace point as first TP, perhaps with an option for a second TP....
Another thing : after some analysis, we really new differents settings/pairs for each news... gap between movements/pair are too big to let the pc alone in live...
just an idea.
retracement...
Here is an example of nice retracement...
GBP/USD retail sales of today...
Check the pic :-)
Hi,
I've finished new version of NewsTrader with Currency and rating filters.
So with these options you can use common calendar for different pairs and ratings.
Concerning retracement:
I think in this case we should not delete opposite pending orders and move these orders like trailing stop.
agree too. but following my experience with GBP/USD, using fibo as exit point to catch retracements should be efficient.
The question is "if retracement= true" then "how/when detect the start of reversal/retracement", if detected, close the first trade (the news trades) and open a new trade (the retrace trade), until it touch the fibo retrace point as first TP, perhaps with an option for a second TP....
Another thing : after some analysis, we really new differents settings/pairs for each news... gap between movements/pair are too big to let the pc alone in live...
just an idea.According to my experience with asctrend M5 system the retracements (i call it 'correctional trend') is very risky and the order may be opened during the several hours up to the next day. I tested it for more than 2 months. But good thing is the following: it may be very thin stop loss value.
Just affraid to get the other DayTrading3 EA
I think it may be optional as false and true:
UseRetracement= false
is for the people who do not want to use retracement at all.
May be, we do not need to trade every week?
Anyway we may catch 10 or 15 pips for every significant news spikes ...
May be, it is just subject for different settings and good MM as dswk suggested?
I will wait for Igorad's next version.
As he wrote in some previous post:
- news filter for currencies that should be used in trade
- filter for news ratings.
Also I think that we should use different settings for different news trades.
We can use one settings(TP,SL,TS and gaps) for NFPs, other settings for Trade Balance and so on.According to my experience ......(please read post above) May be, we do not need to trade every week?
Yes is another solution ;-)
Anyway we may catch 10 or 15 pips for every significant news spikes ... May be, it is just subject for different settings and good MM as dswk suggested?
I thinks differents settings are mandatory.
I will wait for Igorad's next version.
Thanks for Igorad for this version 4. I will test it for next week now....
NewsTrader V4 is there : https://www.mql5.com/en/forum/175898/page9