EasyTrader's News Trading

Hi

I'm going to trade the news with a high impact on a live account.

Method:

 

1. Get quotes from Dustin Pass (Oracle Trader). http://forextradersdaily.com/forexnewstrading/

1. I'll post the news events and quotes here on this thread.

1. Compare quotes to Henry Liu's quotes
   http://www.forexpeacearmy.com/forex-...ading-signals/

Optional:

1. Use the following EA to place buy and sell orders 10 sec before the news release:
   Attached File(s)

   News Trading.ex4   21 KB | 1,110 downloads

Next:

1. Wait for the news feed

1. Retrace method:
   Wait for retrace back to 10-15 pips from the pre-release price and enter in the direction of the spike

1. If no SAFE BUY or SELL. It is a NO trade... We shout out: DAMMIT!!! and then wait for the next news release.

Happy trading

The first news release I'm going to trade:

AUSTRALIA LABOR FORCE EMPLOYMENT @ 01:30 GMT, 12 Aug (21:30 EDT, 11 Aug)
Expected: 20.0
Pair: AUDUSD

According to the Oracle Trader the deviation for a safe buy or safe sell is 15.

Henry Liu's:
http://www.forexpeacearmy.com/forex-...nt-change.html

According to Henry the the deviation should be 30.

Let's go with 30 to play it safe. I'm using the Oracle Trader and I'm going to change the trigger from 15 to 30.

The movement expected is 40-50 pips. So I will place the straddle 10 sec before the news release with 10 pips away aiming for 20 pips TP. That gives us enough room for profit. RR 1:1, SL = 20 PIPS.

20 PIPS not more than 1% of the equity of the account. Here is a MM calc that I have made myself.

I'll be back tomorrow morning

COUNT ME IN.
I'm planning to place the GAP ORDER around 6, and place the TIME ORDER at exact moment of the release. and BE at 10 and maybe Trail my stop for 15. Hope it will not be conflicting the ea.

I'm up and waiting.

It is 03:11 in the morning...in South Africa

Internet connection problems...but

Straddle set and ready to go...

Getting up too early huh? 9:17AM here in Mongolia

I'm going back to bed after this trade...

Message from Oracle Trader:

Keep a very close eye on the price just before the data is released. If you see it jump seconds before the data comes out be sure to turn of your auto click (I dont have - using demo). This is known for coming out late...

Is it possible to set the seconds to place trades on the ea?

Yes!

time is set to 03:29

what seconds to set is set to 50 sec

Mine got whipsawed during the up move. damn -470$

Deviation was 3.5 = no trade....

closed orders

gap 6 = to small

hmm, i guess you are right.

I took an after spike retracement trade SELL @ 0.89415

Let see....

Seems like this could have been a winner if I have placed my gap at 10. Well lesson learned.

I'm trailing this with 15 pips, lets see.

The next trade I will be looking for is:

US Adjusted Retail Sales Less Autos Condition:
Sell if Lower Expected:
Release date: 13-Aug-2010 08:30:00 EDT
Set for EUR/JPY

cheers

6 pips locked in so far...

Good, so ur gap was 10 and it didn't get hit? Hmm, If I have my gap was wide for at least 10 then I would have gotten +2%. Grrrr

Closed for only 6 PIPS.

'll be back for the next one... hope it will be better....