Trade News is an event-trader that places orders few minute before news related with economic calendar such as NFP GDP CPI Building permits and others.
It works with all currency pair especially with EUR/USD USD/CAD USD/JPY NZD/USD AUD/USD GBP/USD.
It’s a semi-automatic expert, it means that you’ve to enter the day and time of the event and EA will do the work for you.
This kind of approach is good to have the control of single economic event and it’s a way to trade efficiently events such as NFP where it’s very difficult to perform MANUAL trading due to high volatility and volumes.
It works correctly on M15 and M30 period.
- risk - it works only if Lot is 0.0 (Autolot). 10 means 10% of account.
- Magic - Magic number for orders opened by EA.
- Lot - put 0.0 in order to have autolot (EA will calculate automatically lot size basing on free assets and risk parameter).
- TrailingStop - 30 means 3 pips (Only if active).
- Slippage - slippage! Change it only in case broker has a big spread (not recommended).
- Pipstep - 120 is optimized with EURUSD
- Day_of_month – event day to be filled (12 means may 12 for example)
- StartHour – hour of event (NFP, GDP, must be GMT time)
- StartMinute – minute of event
- GMT_Offset - 25 means autoGMT offset detecting (for backtesting put GMT offset of the broker).
- delta – GAP for stop orders, to be adjusted per each pair
- Trail_active - if true EA will manage orders with a trailingstop.
As example if you want to trade event @ 14:15 on may 12 put:
- Day_of_month = 12
- StartHour 14
- StartMinute 15
If you want to trade an event on july 7th @ 15:00 put:
- Day_of_month = 7
- StartHour 14
- StartMinute 60