Semi Automated News Trading System

Quoting aparsai

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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

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Quoting Ghostpipper

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Obviosly im sure these would be EXTREMELY POPULAR

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Quoting ssotiro

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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

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Quoting ssotiro

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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

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Quoting BurgerKing

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@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.

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Quoting BurgerKing

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

Or just price action?

Why not simply STRADDLE?

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Quoting ssotiro

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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.

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Quoting iya

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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.

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Quoting blondy101

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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

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Quoting aparsai

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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?
- ...

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