CJ News Trading MT5
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There are some news within a day that can make the price jumps up or down very quickly and that is a good opportunity for traders to get some profits.
How to scalp a news?
- Before the news released 3 to 5 mins, open 2 stop orders (1 buy stop, 1 sell stop), 15 to 20 pips away from market price at that moment
- At the time news released, there are 3 scenerios
- Price does not move much and no orders triggered, in this case we simply close all 2 pending orders that were opened before and finish scalping here
- Price moves up and triggers BUY STOP order, we close SELL STOP order and keep the SELL order running
- Price moves down and triggers SELL STOP order, we close BUY STOP order and keep the SELL order running
Notice: Some brokers lock the chart from making order within 1-2 minutes before and after the news, so it is better if we open the trader sooner than 2 mins before the news release time.
- Auto open pending orders before new released
- Auto send notification to MT4/MT5 apps on mobile
- Can be handled manually
- Open pending orders
- Close pending orders
- Close all orders (orders opened by this EA, the other orders are still remained)