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Attachments: Semi Automated News Trading System
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Semi Automated News Trading System

  • Opened Nov 16, 2006 | Never Closes | 103 Votes
  • Poll Results
Semi Automated News Trader  
My broker uses MetaTrader and I definitely like to use a semi-automated MT4 EA to trade news 52 Votes
50%
My broker uses MetaTrader but I prefer to trade news manually 14 Votes
14%
My broker does not does not use MetaTrader but such an EA can be beneficial to me 18 Votes
17%
My broker does not does not use MetaTrader. I also prefer to trade news manually 19 Votes
18%
  • Post #1
  • Quote
  • First Post: Nov 16, 2006 10:12am Nov 16, 2006 10:12am
Hi Folks,

I am a great fan of news trading. Although I stopped trading news in the last four months due to my full time job workload I'll get back on track ASAP.

Anyway my plan is to develop a couple of Expert Advisors for MetaTrader to help myself and others make the newstrading a little bit or hopefully a lot easier and more successful. I need your suggestions though to make it the best software application out there.

I also need to know that how many of you are interested in such a system.

It's no doubt that I'll eventully share the EAs with you for FREE. I say EAs as I might develop more than one for different tastes.

Cheers,
Al
Quoting aparsai
Hi Folks,

I am a great fan of news trading. Although I stopped trading news in the last four months due to my full time job workload I'll get back on track ASAP.

Anyway my plan is to develop a couple of Expert Advisors for MetaTrader to help myself and others make the newstrading a little bit or hopefully a lot easier and more successful. I need your suggestions though to make it the best software application out there.

I also need to know that how many of you are interested in such a system.

It's no doubt that I'll eventully share the EAs with you for FREE. I say EAs as I might develop more than one for different tastes.

Cheers,
Al
Obviosly im sure these would be EXTREMELY POPULAR
Ghost Swoopen in for my pips while no one is lookin !!
Please be specific and let me know which approach would be the best.

Thanks in advance.
Quoting Ghostpipper
Obviosly im sure these would be EXTREMELY POPULAR
Hi Ghost,

Thanks for your feedback. Could you also respond to the poll?

Good Luck,
Al
My problem is that I end up too late if I wait to "learn" the news and then act.
So, an EA of this kind, is really someting I would like to see.

Thanks aparsai
Quoting ssotiro
My problem is that I end up too late if I wait to "learn" the news and then act.
So, an EA of this kind, is really someting I would like to see.

Thanks aparsai
Thanks SSotiro for your feedback.
@aparsai,

If you are using MT4, there are lots of software already available.

Straddle EA, AmazingEA to name a few.

OK, so there are multiple news coming out.
Solution:
Have as many charts on your favorite currency pair.
If you have 3 news, then have 3 charts.
Set one EA for each of the charts. each having its own datetime, SL, TP for the particular news.

Example: Today we had 2 news US CPI and UK Retail Sales.
Open GBPUSD chart, set the EA to fire off at 4:30AM EST
Open GBPUSD/EURURS, set another EA to fire off at 8:30AM EST
DONE.


Some EAs gets too complicated; You were told to set ALL the date/time of the news on a single EA... Thats confusing! Just one EA for each news.

PS. Is it profitable to sell EAs? Just wondering, I sure like to profit some money MT4 scripts.
Thank you for your effort.
Quoting ssotiro
My problem is that I end up too late if I wait to "learn" the news and then act.
So, an EA of this kind, is really someting I would like to see.

Thanks aparsai

Your thinking of making an EA that will combine a news feed with the price action?

Or just price action?

Why not simply STRADDLE?
  • Post #10
  • Quote
  • Edited at 10:50am Nov 16, 2006 10:39am | Edited at 10:50am
It would be great if you let me know what is your favorite method to trade news. It will definitely help me to develop a proper EA. For example it would be great if you answer to the following or similar questions?

- Do you straddle? How?
- Do you enter the market - based on your analysis - ahead of the market?
- Do you risk a specific percentage of your account (i.e. a fixed VAR)?
- Do you trade a fixed number of lots?
- How do you setup profit target (i.e. TP level), stop loss?
- Do you use a trailing stop? Based on what criteria?
- When do you move your stop loss to Break Even?
- Do you close the whole open trade at the same time?
- Do you close part of the trade when you reach a certain level of profit?
- Do you use a specific indicator or set of indicators to help you out with your decision?
- ...
Quoting BurgerKing
@aparsai,

If you are using MT4, there are lots of software already available.

Straddle EA, AmazingEA to name a few.

OK, so there are multiple news coming out.
Solution:
Have as many charts on your favorite currency pair.
If you have 3 news, then have 3 charts.
Set one EA for each of the charts. each having its own datetime, SL, TP for the particular news.

Example: Today we had 2 news US CPI and UK Retail Sales.
Open GBPUSD chart, set the EA to fire off at 4:30AM EST
Open GBPUSD/EURURS, set another EA to fire off at 8:30AM EST
DONE.


Some EAs gets too complicated; You were told to set ALL the date/time of the news on a single EA... Thats confusing! Just one EA for each news.

PS. Is it profitable to sell EAs? Just wondering, I sure like to profit some money MT4 scripts.
Thanks for your feedback. There is always room for improvement. I'm going to write an EA that addresses several issues, including money management and proactive behaviour to market behaviour.

I've never sold an EA before so I can't answer your question whether it is profitable or not.

I'm not going to make things complicated. My intention is to make it as easy to use as possible.
Quoting BurgerKing
Your thinking of making an EA that will combine a news feed with the price action?

Or just price action?

Why not simply STRADDLE?
One of the EAs that I'd like to wirte is an EA for straddling. However, it depends on the feedback that I get from the folks on this trade.
I do not understand how you could go around without straddling.
Unless, there is a way to know how other traders are functioning (i.e mass buying or selling). But, as far as I know, you cannot see that.
Quoting ssotiro
I do not understand how you could go around without straddling.
Unless, there is a way to know how other traders are functioning (i.e mass buying or selling). But, as far as I know, you cannot see that.
There can be other approaches. For example you wait for a close outside the box and then based on that you decide whether to enter the trade or not and how.

Some people may use some indicators to validate the breakout for example CCI or RSI.

The timeframe that is used is also different among news traders.

That's why I said potentially there can be more than one EA to meet everybody's needs. I insist that I'll share the EAs with FF members for free as I did so far with my Pip_Boxer set of EAs.
  •  iya
  • | Joined Oct 2006 | Status: always protect yourself | 129 Posts
Do you know how to access the news feed from mq4?
Would be interesting to parse and analyse the data to either enter with a market order or just use the historical statistics to calculate an exit.
Quoting iya
Do you know how to access the news feed from mq4?
Would be interesting to parse and analyse the data to either enter with a market order or just use the historical statistics to calculate an exit.
I'm not quite sure if it would be possible.
So far 16 out of 22 responders (over 68%) showed interest in such a system. While I still need more feedback on this, I definitely need your feedback on what kind of system you are looking for. Please read through the following post and then let me know about your ideal trading system.

http://www.forexfactory.com/forexfor...9&postcount=10

Thanks very much. Note that I'll spend my time on this and then share it with you for FREE. It will be a system that we all can benefit from. It can be a combination of one to 3 Expert Advisors and probably a couple of scripts and maybe even some custom indicators.

Have Fun,
Al
it sounds pretty good.
i would love to test it as soon as you develope it; in fact i was always interested to trade the news, but sometimes it's hard to find the way market will react, so i think this EA will be very popular
Quoting blondy101
it sounds pretty good.
i would love to test it as soon as you develope it; in fact i was always interested to trade the news, but sometimes it's hard to find the way market will react, so i think this EA will be very popular
Thanks for your feedback.
Quoting aparsai
It would be great if you let me know what is your favorite method to trade news. It will definitely help me to develop a proper EA. For example it would be great if you answer to the following or similar questions?

1- Do you straddle? How?
2- Do you enter the market - based on your analysis - ahead of the market?
3- Do you risk a specific percentage of your account (i.e. a fixed VAR)?
4- Do you trade a fixed number of lots?
5- How do you setup profit target (i.e. TP level), stop loss?
6- Do you use a trailing stop? Based on what criteria?
7- When do you move your stop loss to Break Even?
8- Do you close the whole open trade at the same time?
9- Do you close part of the trade when you reach a certain level of profit?
10- Do you use a specific indicator or set of indicators to help you out with your decision?
- ...
1- Yep, depended on the news we trade, straddle (5,8,10)
4- Usualy 1lot till master news trading
5- Every news have Tp, and SL ('ll be contain in V 0.4)
6- Some guys here using it, for me nope !
7- usually....Depended in which news we trading
8- Yep
9- Nope
10-Nope (I heard there's some systems for news trading.. telling you the news direction...u long or short before news 30sec !! , works around 70%)
Charting Markets into the Future...MǎҖ€¥.
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