News Trader EA - page 17
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Hi Newdigital,
It is very good idea from Igorad
It will be the most sophisticated news trading EA ever if he completes the developments you mentioned above.
Since you are very busy now, I would like to ask you if it is better to prepare the news file for ourselves this time? Or do you think you will have time to do that tomorrow?
Regards,
ChrisstoffI think I will have time to do it tomorrow.
May you post some possible settings for this v5 before Monday as an example if you will try to estimate some settings for yourself? Because I am not very comfortable with grid trading. Of course I will use my own may be but just to have some example may be good.
Thanks Igorad and Newdigital
Can somebody, when you have time, explane a bit how to set up the EA for a news event, so that a dumass as myself can also help in the testing of this new toy.
JP
Newdigital,
Thank you for preparing the text file.
OK, I will try to find out some settings for the following events later today:
2/13/2007 USD Trade Balance 13:30 (GMT)
2/14/2007 USD Advance Retail Sales 13:30
2/14/2007 USD Business Inventories 15:00
2/15/2007 USD Net Treasury International Capital Flows 14:00
2/15/2007 USD Industrial Production 14:15
2/16/2007 USD Producer Price Index 13:30
Nevertheless, I do not think there will be much difference in settings. But it will be a test only since I do not even know completely how the EA will work. After some experiments we will know more.
Thanks Igorad and Newdigital
Can somebody, when you have time, explane a bit how to set up the EA for a news event, so that a dumass as myself can also help in the testing of this new toy.
JPSome explanation you may find in the first post. I will try to explain later all the settings of this new EA (will backtest it in visual mode just to see how it works).
Post #1 was updated.
And post #2 on this thread was updated with all the settings explanation.
And please find EAs attached for every pair with default settings which I will use for this week testing.
Please do not repeate my settings. Just change it a little. Most critical parameters are the following:
1. PendOrdGap = 10;
I will use 10. It is distance between price and pending order price to one side.
PendOrdGap = 10 and PendOrdGap = 20 were tested during ther whole months and seems it's ok. So I will use more risky 10 and somebody please use 20.
2. OrdersNum = 3;
I will use 3: 3 pending orders will be opened to both side.
Somebody may use 2 or more than 3.
3. OrdersStep = 10
Distance between pending orders. I will use 10.
4. DelOpposite = 0.
If 0 so opposite pending orders will not be deleted immediately afer real order opened. I will use 0.
5. TrailOpposite = 1;
I am not recommending to change it.
6. BreakEven = 0.
I will not use breakeven (BreakEven = 0).
Somebody may use BrakEven = 10 or 5 for example.
7. TakeProfit = 100; // Take Profit in pips
TrailingStop = 10; // Trailing Stop in pips
InitialStop = 30.
I will use this settings for take profit, trailing and stop loss.
The other settings already tested:
- Take profit= 100, TrailingStop =30 and InitialStop = 50 (it was good during NFP news).
- Take profit= 20 or 10 or 15 or 30, TrailingStop =0 and InitialStop = 20 or 30 or 50 and some variations (for usual news trading).
8. I will test the news with rating 2 and 3 only (MaxRating = 3 and MinRating = 2). I will not test the news with rating 1 so somebody may test all the news (MaxRating = 3 and MinRating = 1) or only news with rating 3 (MaxRating = 3 and MinRating = 3).
Thats all.
Text file (forex calendar for this week) will be updated on the post #1 today in the evening.
Text file (forex calendar) was uploadd on the post #1.
Well, I tried to find out some settings for certain news trades for next week. I attach them in an Excel file here.
Well, I tried to find out some settings for certain news trades for next week. I attach them in an Excel file here.
Hi chrisstoff,
Thanks. You did settings for every news?
I will try to test with the same settings whole week. Will see.
I backtested this EA and found that very important thing is Rating Filter. BTW I am not very comfortable with hedge.
I created text file (post #1) and explanation of the settings (somebody asked- post #2).
Hi Newdigital,
You are welcome
No, I have not elaborated different settings for every news just for a several ones that I mentioned in my post #166. These all are US news.
I will see how the EA works with that settings and I will modify the settings accordingly later. After a couple of weeks (months?) practice we will find out the right settings, I think.
And we should not forget, we need a very good broker to find for trading news live with this EA because news trading in demo and in live are desperately different things.
Hi chrisstoff,
Thanks. You did settings for every news?
I will try to test with the same settings whole week. Will see.
I backtested this EA and found that very important thing is Rating Filter. BTW I am not very comfortable with hedge.
I created text file (post #1) and explanation of the settings (somebody asked- post #2).First Trial
Attached is the result of the first trial with the v5 version. The EA worked fine.
(The result could have been better but I closed the trade manually and too early.)