News trading often brings the biggest price moves. Because of this, it’s no wonder that many trader’s seek out high importance news events to try and catch a big move.
News Bot EA is a trading robot only designed for trading News. To determine the direction it applies a straddle strategy by opening N seconds before the news one buy stop order and one sell stop order. As soon as one order is triggered the other one is removed and then a trailing stop is used in order to catch most of the movement.
Just need to configure from properties News time and the rest is automatically handled by the robot.
Example of time settings for a News released at 14:00
- Second Before News 5 - At 13:59:55 pending orders are placed at the defined distance from the current price;
- News Time 14:00 - Time of News release;
- Second After News 60 - If none of orders triggers in 60 seconds after the News release (14:00:00 + 60 seconds = 14:01:00), both pending orders are deleted.
- Second Before News - seconds before news to place pending orders;
- News Time - time of News release;
- Second After News - second after News release after which pending orders are deleted;
- Order Distance - distance to Buy/Sell order;
- Take Profit - take profit in pips;
- Stop Loss - stop Loss in pips;
- Use Trailing Stop - switch On/Off trailing stop;
- Trail Distance - trailing stop distance;
- Magic Number - magic number to distinguish orders from others EA;
- Money Management Method - method to compute the lot size;
- Fixed Lot - lot size on each if money management method is fixed lot;
- Percentage Balance - percentage of your balance to risk if money management is percentage balance;
- Works on all major currency pairs;
- Minimum recommended deposit is $100 for fixed lot set to 0.01;
- ECN broker with low spread and low slippage is highly recommended to get better results;
- Compatible with 4 or 5 digits account;
- Compatible with all brokers including US broker using FIFO rule