Trade The News...... - page 3
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Today (8/24/06) was a breakeven day for pullback trader. It triggered both the long and short trades, but both were closed at 0 pips profit, strange coincidence. That means the markets moved both sides of the orders at equal distances to trigger the trailing stop. The straddler was a 12 pip loser
Here is today's chart for the pullback trade.
Trade The News......
Is there anything out there for MT4 to help with that? Some kind of indicator that gives signals for buy and sell events in the news? There has to be.....Please someone help me out on this. I want to learn how to Fundamentally trade. Thanks.
Is there anything out there for MT4 to help with that? Some kind of indicator that gives signals for buy and sell events in the news? There has to be.....Please someone help me out on this. I want to learn how to Fundamentally trade. Thanks.
Theolive:
No technical indicator will help you to trade the news accuratly, coz even fundamental traders only have clues about news releases.
As far as i know, there are some ways to trade the news: a) Waiting the news releases to trigger the trade; b) Some brokers allow you to put two conditional orders: one to buy and other to sell, each one with a stop loss (it has risk too) , and c) enter the trade minutes before the news and wait hoping that go in your way, placing a tight SL. That way, if you loose, will be lets say 10 pips. If you win, can be 60 or more pips. Good risk-to-reward ratio.
Anyway, there are some indicators i use with a good winning performance, to spot the direction of the move minutes before it happens. Stochastics is a good one too.
I dont know if other traders here can give us more information and enligthment.
regards,
Hi,
My opinion is that NEWS EAs are not good. You must trade manually.
More info about News trading:
News1
News2
News3
News4
News5
Hope that his will help you.
Good Luck!
Avoiding News Releases
Hi Folks!
I am working on design for a new EA. I would like to shutdown the EA during times where news impacts are high. I may be wrong, but did I see somewhere on here where someone had an EA that used the ForexFactory or another forex news calendar to avoid trading during news releases?
Thanks folks and have a great night!
SirWolf
I moved your post to news section.
You will find here some our forex-tsd tools (indicator and so on).
Besides, some people are discussing FF calendar indicator (if you like to use FF calendar indicator instead of our forex-tsd calendar and indicator).
So, look at sticky thread here https://www.mql5.com/en/forum
and on some other threads as well.
Trading the news
tomorrow are the BOE and EUR Interest Rate Statements, mainly the BOE
if the BOE didn't increase the rate or we have the expected rate which was already priced in, then we are talking about 50-150 pip move down, its not that strong move as there is no data from US to support the US dollar, its just traders collecting profit and getting out of their trades.
If BOE increased the rate beyond the predicated rate then we will saw a 200+ move as trader will jump to a high swap rate currency.
in both cases its worth to wait for the news and lose 15-30 pip during the news to confirm the entry.
How to trade tomorrows news ?
put your entry at the channel on EU/US & GBP/US and on the triangle on the EU/JAP and GBP/JAP with stoploss 10 pips lower than the other side of the channel and on the traingle the jap pairs are moving more than the US pairs so be careful with the stoploss
Good luck everyone , and watch out guys there might be a whipsawin this move lots of orders are stacked on both side of the channel and brokers might take advantge of that
hi
tomorrow are the BOE and EUR Interest Rate Statements, mainly the BOE
if the BOE didn't increase the rate or we have the expected rate which was already priced in, then we are talking about 50-150 pip move down, its not that strong move as there is no data from US to support the US dollar, its just traders collecting profit and getting out of their trades.
If BOE increased the rate beyond the predicated rate then we will saw a 200+ move as trader will jump to a high swap rate currency.
in both cases its worth to wait for the news and lose 15-30 pip during the news to confirm the entry.
How to trade tomorrows news ?
put your entry at the channel on EU/US & GBP/US and on the triangle on the EU/JAP and GBP/JAP with stoploss 10 pips lower than the other side of the channel and on the traingle the jap pairs are moving more than the US pairs so be careful with the stoploss
Good luck everyone , and watch out guys there might be a whipsawin this move lots of orders are stacked on both side of the channel and brokers might take advantge of thatis it proven strategy to trade tomorrows news ? anyway thanks for your information
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Forex Indicators Collection
my suggestion would be not to trade the news unless u r a master at doing it..cos the brokers out there screw u thru various means when there is news release...so as far as possible, dont trade the news and stay out of the market...it might look attractive but it aint...