Make Easy Pips With Economic Calendar
Does it really work? What if the price goes to the opposite direction?
See that winning streak of 11 trades. I'm pretty confident that this system will work. USA employment situation is the best time you make pips with this system, for now. I need to unlock secrets of other indicators before it's good for trading.
If it goes to opposite direction, you lose the SL pips or maybe more if SL doesn't hit.
XML datafeed request from
your Economic Calendar and forecast
like forexfactory:
Please answer me.
Best regards,
Barna Otvos
What if is gone wrong? Where do we put the stop loss?
Thanks
Using our forex economic calendar and its forecast, we will enter a market order 30 mins before news release and close it 2 or 3 hours later. Set SL and TP to the "Price Range" shown. We don't trade just every news listed in the calendar. Stick with only the ones that set off high and medium volatility on price, i.e. employment situation, interest rate announcement, ISM PMI, Chigago PMI, etc. Look for the ones with red icon. You should improvise the market order with like stop/limit order to gain some more pips. Here's an example, in the attached calendar image, the calendar forecasted that on January 05 2007 13:30 GMT, the EURUSD would be moving down 80 pips. So at 13:00 GMT, you would short selling EURUSD with SL = 80 pips and TP = 80 pips. See the attached chart, we made at least 80 pips with this one event alone! Here's past results trading USA Employment Situtation: Feb 2007 13:00: Short EURUSD, Profit: +63 pipsJan 2007 13:00: Short EURUSD at 1.3089, Profit: +80 pipsDec 2006 13:00: Long EURUSD at 1.3275, Profit: +80 pips2006/11/03 13:00: Short EURUSD at 1.2760, Profit: +80 pips.2006/10/06 13:00: Short EURUSD at 1.2662, Profit: +80 pips.2006/09/01 13:00: Short EURUSD at 1.2815, Profit: +10 pips.2006/08/04 13:00: Long EURUSD at 1.2793, Profit: +80 pips.2006/07/07 13:00: Long EURUSD at 1.2774, Profit: +80 pips.2006/06/02 13:00: Long EURUSD at 1.2814, Profit: +80 pips.2006/05/05 13:00: Long EURUSD at 1.2691, Profit: +52 pips.2006/04/07 13:00: Short EURUSD at 1.2176, Profit: +80 pips.And the profit goes on...
Yes, SL will protect you. But the loss can go higher from specified stop.
I set SL and TP around 80 pips from the price for high impact news, 50 pips away for medium impact, and 30 pips away for low impact. And you enter the order exactly 30 minutes before news release.
It appears recommendations are not made for all medium and high impact news?
Do you trade any low impact news? if so how do you about that?
Is there any expert whereby one can enter SL/TP and time to enter trade? Such expert might be very helpful for news happening at one's own odd period.
Thanks
Thanks for providing this calendar. Some questions.
1. Is there a way to export the calendar? I can't even seem to copy/paste from my Web browser. Would be nice to be able to insert this data into my own database/spreadsheet to analyze trades and keep a trade log, etc.
2. Once a Direction and Future Chart prediction are made, are they ever changed either pre- or post- news?
3. Is there a way to filter out the Low Volatility events? Just want to focus on the High and Medium events.
4. Once a Volatility assessment is made, will this change either pre- or post- news? Forex Factory will change their ratings after the news event which skews the historical record (at least in terms of using the record for backtesting). Hopefully you don't change anything once it gets posted, but, just want to make sure.
5. I assume the Volatility assessment is made based on average past movement for said news event? How far back have you gone in your analysis? Is it weighted with more emphasis placed on recent news events? I see that the calendar goes back to January 2006. Is that how back you've gone with your analysis?
BTW, I love how you can click on the month name to get a pop-up to jump to other years or to Today. Would love to see data there for the other years!
6. Small issue. On Mac Safari, the Direction, Volatility, etc buttons do not display correctly. They get bunched up vertically rather than spaced apart horizontally. No issue with Firefox on Mac. Must have different JavaScript requirements.
7. I see the preliminary vs final tags, but, I don't see any listings with these tags. Is this not implemented yet?
8. Any plans to integrate this with an MT4 EA? I see two approaches. One which follows your predictions, and, another which simply straddles the market based on the best pair to trade for the event. Of course, TP/SL would adjust according to expected volatility. And, a time-based exit trigger could take you out after xx minutes have elapsed. The event name would be logged to the order history comments field. And, for the straddler, maybe provide an option to more heavily adjust the lot size in the direction of the Future Chart prediction if one exists, otherwise, just go with the standard risk setting for both pending orders in the straddle.
Anyway, thanks again for providing this calendar, and I look forward to it's progress and development.
Bill
Whoa, that's a long post of questions that I like to answer. First off, i have to mention that this calendar is in beta, so many changes are on the way.
>> 1. Is there a way to export the calendar?
I can turn the export switch on. You'd be able to export in csv or excel. But i'm not sure if it'd do any good to the calendar especially the data license policy vendor imposed on me.
>> 2. Once a Direction and Future Chart prediction are made, are they ever changed either pre- or post- news?
They will never change. Stay the same before and after the news.
>> 3. Is there a way to filter out the Low Volatility events? Just want to focus on the High and Medium events.
Not yet possible now, but i'll consider it in the next release. I wanted to keep the calendar simple.
>> 4. Once a Volatility assessment is made, will this change either pre- or post- news?
Volatility is fixed. Good for you.
>> 5. I assume the Volatility assessment is made based on average past movement for said news event? How far back have you gone in your analysis? Is it weighted with more emphasis placed on recent news events? I see that the calendar goes back to January 2006. Is that how back you've gone with your analysis?
It's weighted average of data since Jan 2006. I spent months doing it manually.
>> Would love to see data there for the other years!
I'd love to, but the data provider doesn't share the archives with us.
>> 6. Small issue. On Mac Safari, the Direction, Volatility, etc buttons do not display correctly. They get bunched up vertically rather than spaced apart horizontally.
Thanks for feedback. It's maybe bug in CSS rendering. I'll test on Mac when have chance.
>> 7. I see the preliminary vs final tags, but, I don't see any listings with these tags. Is this not implemented yet?
Not implemented yet. These are all finals. I'll consider it.
>> 8. Any plans to integrate this with an MT4 EA?
I don't have any plan for this yet. Automation is cool as long as you don't overuse it. I'll go with manual, hand-on trading for a while. With EA, many people will surely skip business logic, pass the enlightenment they should get, and come back here with question like "1 hour already but no trade?"
Thanks for dropping by this forum and give a lot feedbacks, billworld.
Thanks. Exporting (or at least copy/paste) would be quite helpful. I like Forex Factory's implementation of filtering out Low/Medium/High impact events. But, unlike you, they will change these after the fact, which really makes it not as helpful as your calendar which remains fixed.
One more request, like FF, can you please allow a cookie to be set (or something comparable) in one's Web browser so one's localization settings remain? That would be great!
Sounds like you've done a lot of analysis of the effects of prior news events on price action. Have you looked much into FXEngine's similar research? I believe they've gone back a longer period of time than just the previous year.
Have you researched methods of analyzing longer periods of data programmatically? I can sure understand the challenge in doing that, just as much as I understand and appreciate the huge commitment and effort involved with manually analyzing said history. It's just you never know if the reactions over the last 1 year to news events will reflect just what will happen for the next year.
Anyway, thanks much the calendar and for being open to ideas and dialogue on enhancements. Doing something similar has been on my project to-do list for a while...
Cheers
Bill
Whoa, that's a long post of questions that I like to answer. First off, i have to mention that this calendar is in beta, so many changes are on the way. >> 1. Is there a way to export the calendar? I can turn the export switch on. You'd be able to export in csv or excel. But i'm not sure if it'd do any good to the calendar especially the data license policy vendor imposed on me. >> 2. Once a Direction and Future Chart prediction are made, are they ever changed either pre- or post- news? They will never change. Stay the same before and after the news. >> 3. Is there a way to filter out the Low Volatility events? Just want to focus on the High and Medium events. Not yet possible now, but i'll consider it in the next release. I wanted to keep the calendar simple. >> 4. Once a Volatility assessment is made, will this change either pre- or post- news? Volatility is fixed. Good for you. >> 5. I assume the Volatility assessment is made based on average past movement for said news event? How far back have you gone in your analysis? Is it weighted with more emphasis placed on recent news events? I see that the calendar goes back to January 2006. Is that how back you've gone with your analysis? It's weighted average of data since Jan 2006. I spent months doing it manually. >> Would love to see data there for the other years! I'd love to, but the data provider doesn't share the archives with us. >> 6. Small issue. On Mac Safari, the Direction, Volatility, etc buttons do not display correctly. They get bunched up vertically rather than spaced apart horizontally. Thanks for feedback. It's maybe bug in CSS rendering. I'll test on Mac when have chance. >> 7. I see the preliminary vs final tags, but, I don't see any listings with these tags. Is this not implemented yet? Not implemented yet. These are all finals. I'll consider it. >> 8. Any plans to integrate this with an MT4 EA? I don't have any plan for this yet. Automation is cool as long as you don't overuse it. I'll go with manual, hand-on trading for a while. With EA, many people will surely skip business logic, pass the enlightenment they should get, and come back here with question like "1 hour already but no trade?" Thanks for dropping by this forum and give a lot feedbacks, billworld.
Scorpion
The Price Range [in PIPs], is that an average over a period of time? It would be nice if we can see the min and max PIPs
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Using our forex economic calendar and its forecast, we will enter a market order 30 mins before news release and close it 2 or 3 hours later. Set SL and TP to the "Price Range" shown. We don't trade just every news listed in the calendar. Stick with only the ones that set off high and medium volatility on price, i.e. employment situation, interest rate announcement, ISM PMI, Chigago PMI, etc. Look for the ones with red icon. You should improvise the market order with like stop/limit order to gain some more pips.
Here's an example, in the attached calendar image, the calendar forecasted that on January 05 2007 13:30 GMT, the EURUSD would be moving down 80 pips. So at 13:00 GMT, you would short selling EURUSD with SL = 80 pips and TP = 80 pips. See the attached chart, we made at least 80 pips with this one event alone!
Here's past results trading USA Employment Situtation:
2007/04/06 13:00: Long EURUSD at 1.3419. P/L: -50 pips.
Mar 2007: No data. No trade.
Feb 2007 13:00: Short EURUSD, Profit: +63 pips
Jan 2007 13:00: Short EURUSD at 1.3089, Profit: +80 pips
Dec 2006 13:00: Long EURUSD at 1.3275, Profit: +80 pips
2006/11/03 13:00: Short EURUSD at 1.2760, Profit: +80 pips.
2006/10/06 13:00: Short EURUSD at 1.2662, Profit: +80 pips.
2006/09/01 13:00: Short EURUSD at 1.2815, Profit: +10 pips.
2006/08/04 13:00: Long EURUSD at 1.2793, Profit: +80 pips.
2006/07/07 13:00: Long EURUSD at 1.2774, Profit: +80 pips.
2006/06/02 13:00: Long EURUSD at 1.2814, Profit: +80 pips.
2006/05/05 13:00: Long EURUSD at 1.2691, Profit: +52 pips.
2006/04/07 13:00: Short EURUSD at 1.2176, Profit: +80 pips.
And the profit goes on...