Straddle trading EA

Hi traders,

I am using amazing ea for couple of weeks now, and it made overall profitable trades. I still use version 1.1.8, but didnt caused problems that couldnt be fixed. Very satisified and thanks for whoever made this possible and the ones who keep updating the ea.

I was wandering if anybody had an idea of using some kind of news feed to let the ea trade automatically, using xml or csv?

Alan111S

you know the straddle ea system you have coded , is at default an oco order is created or is there a way i can install this straddle ea system and when in use manually cancel it . also does your ea system have a tralling stop fucntion

These two scripts are for Abdulwakeel.....

I can't test them as market is closed so please test before use on Monday .....

Alan

Got 'em on skype already. Thanks Alan

Hi there

Glad you have been doing well with Amazing. The version you're using will work OK for small trades. If you are using larger lot sizes, I strongly recommend you use the latest versions.

Regarding automated trading, I found an ea in various places on the internet that was based on Amazing, and which downloads a csv calendar into it but whichever version I picked up, it doesn't work any more. I have made parts of it work, but it needs a lot more fixing!

The bits that work include downloading the news events and displaying them on a chart. Filtering the trades (for high impact only) and getting it to set the newstime and currency pair is where things get a little tricky.

It's not really top of my agenda because I don't think you can just fire and forget news trades anymore unless you are trading fairly small amounts. It's actually better to have an idea as to which direction to trade, what pairs to trade and whether to use Break Even, Trailing Stops etc. and change these parameters for each event.

Yes, by default an OCO is created. There is a config option OCO=true or false.

It works like this. A pair of orders will be created up until the event time that you set. If one order fires prior to the news event time, the other order is not cancelled yet, regardless of OCO setting. If the fired order closes, a new pending order is created to replace it.

After the news event time, if one order fires and you have OCO enabled the other order is cancelled. After an expiry time (called STWAN), pending orders are cancelled regardless of OCO. So OCO only affects things between the news event time and the expiry time.

Another feature is if you remove EA or close the chart or Disable all EA's and then change timeframe then the pending orders will be removed. If you change timeframe before the news event, then the pending orders are removed and re-instated. If it is after the news event time, they are removed but not re-instated. The idea with this is if you get nervous at news time that the price action looks dodgy you can change timeframe and your trades will be cancelled in about 1/10th of a second.

If you have an open order and you have set CloseTrades=true, and you change timeframes, the open order is closed automatically and any pending orders deleted. The system does have a trailing stop function, with a variable start point - you can start trailing from 10 pips profit for example.

When you download the ea, it comes with a readme that explains all the options.

Thank you Alan can the EA straddle more than one pair at the same time aslong as the charts are up and also is a trailing of 10 the minimum amount of trailing pips the ea can do?

Alan if also noticed that for some reason The ea i downloaded the latest version does not follow price until i till it to stop as the manual says its supposed to is there a reason why perhaps?

leor

The EA has this setting CTCBN which smoothes out the price action. If you set it to CTCBN=0, it will follow price exactly. In the comment, High and Low will show Ask and Bid respectively. BuyOrder and SellOrder will be Pointsaway from High and Low.

Stop Loss will be whatever SL distance from the opposite order. So by default the High Stop Loss will be 50 Points from the Low (Bid Price) if you have AddSpreadToSL=true.

With CTCBN=1 it works by tracking the high and low of the current candle. If you use CTCBN=2 it's the current and previous candles together. If you want it to be 2 hours you got to put it on the 1 hour chart and set it to 2.

Regards your other question, the most pairs I've seen it running on is 9 pairs but it does take longer to open and modify orders when there are so many instances so I would be wary of doing that. If you are keen to do that, I would stagger the time it opens trades or set SecBPO higher or set the straddle wider. There isn't a minimum on the trailing stop that I know of - unless there is on the broker. Remember the values are points not pips. Normally 10 points = 1 pip. You could probably set it to 1 point (1/10th of a pip) but it would stop out straight away!

Okay and do you know what brokers are good for news tradding as most brokers constantly slipp orders, stops and give requotes?
i am aware of GO markets and alpari could you mention some other brokers as i like to keep my money in different accounts as i dont trust brokers.

Hi leor

I'm afraid I don't have much luck with brokers. What I have found is that the ones with better price feeds slip you more, the ones with less slippage have the odd dodgy spike. The best thing is to pick one and open an account and start very small - like 0.1 lots, then see how things go and increase gradually.

Alan

Version 2.1.0 Released

New Setting MaxSlippage
Redesigned Stop Loss adjustment to work using a single order modification - if it fails, EA will try again next price tick
Slippage logged in Amazing-Symbol.log file
Removed StealthMode

Hi traders

This version is the culmination of a quest over the last few months to deal with broker slippage and high spreads. Some may think it is over the top. I take the comment that this EA is supposed to get you into trades not manage them. However, I feel it is a duty to give traders the tools to cope with the various situations news traders find themselves in! After all, we are trading at the market's most volatile times.

The one major change has been to have the EA react to trades being opened with slippage. The basic EA assumed that trades would not be slipped, so Stop Loss and Take Profits stayed where they were originally put. If the open price was subject to 20 pips slippage, then your take profit might now be 5 pips away and stop loss might now be 30 pips away. The EA now resets the Stop and Take Profit settings based on the Open Price. It does this in one trade modification which ensures that it either succeeds or fails. If it fails because price has moved too fast, it will try again on the next price tick.

In MT4, the Slippage setting in the OrderSend() command has no effect on Pending Orders. In other words, it isn't possible to control slippage on Pending Orders. So the MaxSlippage setting can't prevent slippage in the first place but it can reduce your exposure if your trades are slipped more than the MaxSlippage value. In this case, a minimum stop loss is applied to the trade, meaning that it only has to go a couple of pips against you before being stopped. All these tricks assume that the EA has a chance to modify the trade, of course. Sometimes it all happens too fast. If price is already past the Stop Loss level the EA will actually close the trade as opposed to modify it.

The idea is to maximize the profitable trades and minimize the losses. If anybody needs any feature explaining further let me know. This will be the last major update for a while. Any updates over the next couple of months will be bug fixes only.

Good Trading!

Alan

List of changes/improvements since 1.1.8.

New Setting MaxSlippage
Redesigned Stop Loss adjustment to work using a single modification - if it fails, EA will try again next price tick
Slippage logged in Amazing-Symbol.log file
Adjusted Trade Comment to show CTCBN and OCO settings
New Setting CloseTrades
New Setting MaxSpread
New Setting TrailOffset
New Setting AddSpreadToSL
Renamed TrailingStop setting to TrailPoints
Setting NYear, NMonth and Nday all to Zero enables EA every day at NHour:NMin
CTCBN now works on any timeframe not just M1. Just pick the timeframe before setting the EA.
Added an automated minimum distance check and adjustment for Pending Orders
Changed Stop Loss Code to Account for Slippage
Setting CTCBN to 0 really disables Candle Check now
Changed Risk Code to Allow Micro Lots
Added NMonth and NYear plus Broker Time Clock
Renamed Pips to Points Globally
Added Break Even Offset
Added Settings Info in Trade Comments
Fixed TP=0 disables Take Profit
Fixed Break Even Code
Added Order Delete Function to DeInit Routine
Improved Help Text and Logging

Good brokers for news trading fxopen(ecn) and go markets, sad to hear that if you are having issues then recommend go markets there execution is good and slippage is minimal.

i tried to download your ea system and keeps saying there is an unexpected error have you experienced it

Alan,

Sounds great... was able to compile.

In Change log Apr 15th, I noticed you say, Removed Stealth mode.

1. Any implications here we need to know?
2. Any comments on the pending NZD CPI update today at 22.45GMT, for NZDUSD trade?

Cheers,

Athar.

[quote=Alan111S;6607652]Version 2.1.0 Released

[quote=atharmian;6610365]Alan, Sounds great... was able to compile. In Change log Apr 15th, I noticed you say, Removed Stealth mode. 1. Any implications here we need to know? 2. Any comments on the pending NZD CPI update today at 22.45GMT, for NZDUSD trade? Cheers, Athar.
Hey Athar

I removed Stealth Mode because it was n't compatible with the way the Ea just makes one modification to slipped trades. I don't think many people are using it snyway
With regards to NZD CPI, it may be released up to 20 seconds early. I can't trade it as It's at 8:45am.for me. Got to get to the day job.

Alan

I'm not quite sure I understand at what time i'm supposed to set NHour and Nmin, i drBBMM has it set at 12:30 for all his charts, I'd like to know at what time i should set mine... My broker's time is gmt+0 and my local clock is gmt+1.
Is the default 23:59 ok for me, or should i set it to the times i see on FF homepage.

i'm quite puzzled and i don't even know if these questions i'm asking make any sense.

Edit: I think I almost understood: I have to insert the news time individually to every chart... please correct me if i'm wrong

Hi

Don't worry - it's confusing for everybody at first. You're right, you have to set the news time for every chart. So if your PC time is 21:00 and FF says there is news at 21:30 ( in half an hour ) and your broker time is 22:00 right now, then the time you want is 22:30 so set the NHour to 22 and NMin to 30.

Just make sure the clock on FF by your username at the top of the page is showing the correct time too.

When drBBMM set the time for 12:30 that was for NFP which is at 8:30 am EST.

Alan

Alan i straddled CAD interests rate with the ea system , it moved 24 pips , my points away from current price was 8 but i still managed to break even i dont think the trailling stop function is working ? have you experienced this

Alright, thanks for your help, unfortunately i read it now and missed the EurUsd jump , cause i had the time one hour ahead(my local time) instead of using the brokers time xD lets see how the next goes. Thanks again