Dislikedok, but we can implement the rule of not trading
1 hour before and 1 hour after the news !Ignored
Exactly! Well...almost exactly! It does depend on how the news comes out.
Personally, I'd definately be out 15 min - 1 hour before news, but depending on how it came out, would define when I get back in.
If news came out as expected, and it was not an interest rate or NFP announcement... you could start looking as soon as 30 minutes after, but an hour to be safe.
If it was an interest rate (for any country) or NFP (for U.S.), if it was as expected, i'd stay out for at LEAST an hour...but probably the rest of that session.
If it was a surprise that isn't NFP or interest rate... but it caused a big move, i'd wait an hour or two at least.
Of course, if an interest rate announcement, and it was either surprising, or even just an expected change, i'd stay out for 24 hours.
when it comes to NFP....probably best not to trade at all that day. too much seemingly random volatility.
So, set the bot to stay out 1 hr before all major news, until 1 hr after, and simply turn it off on potential interest rate annoucement days, or NFP days... this is how i'd do it anyway.
There is a mathematical way to do it..but i'd rather not get into here...this should be good enough for now, unless a coder wants some input, then i'll get into a math based way.