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News Trading - Straddle 11 replies

Which Broker for News Straddle trading? 9 replies

Trading the news - straddle entries on GBPUSD 1 reply

Straddle technique for news announcement? 9 replies

Request: Reverse Straddle 1 reply

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Straddle trading EA

  • #681
  • Jul 17, 2013 8:33am Jul 17, 2013 8:33am
Quoting bisho777
{quote} i think his suggestion could be easily handled if u allow again negative bmo as it was before, am not sure if it still working with negative value or not... for me i dont like the idea if reopen orders, or keep orders running after certain value (CTWAN for example) coz i tried to trade some news with this EA while am not watching... the result was good... so i like to still have the ability to trade with ea while not being there...
I also don't like the idea of leaving orders opened because I also use this EA when I'm not watching and this is one of the most needed options for me. So please don't remove the option to automatically close the orders after CTWAN. Option OCO=false proved for me profitable few times when the whipsaw happened. But orders needs to be closed after CTWAN.

My idea was not to change SLs but to move SELL STOP order when BUY STOP order is triggered (and vice versa) to match the SL price of triggered one (or by some number of pips which we can setup). And of course pending order needs to be canceled when CTWAN expires.

It just came to me, that it could be also interesting if not-triggered order follow triggered one just as the "TrailImmediate" do with the SL value. I think that this is the same thing just solved in other way. I hope I'm not to confusing

Also, I had great result today on GBP news even I got wrong way at first, but the OCO = false saved the day!
  • #682
  • Jul 17, 2013 9:06am Jul 17, 2013 9:06am
Anyone knows why the spike of USDCAD (to trade the BOC Rate Statement) took place at the minute 59, instead of 00? In GMT 14h. Is it normal to happen 1 minute before? It would destroy the trade...
  • #683
  • Jul 17, 2013 10:28am Jul 17, 2013 10:28am
Quoting nquental
Hi again I think my settings are better now but today for example the GBP trade didn't open. I think it was because of maxspread = 50, probably too low. I'll have to see when I get back home. My question: what happens if pending orders are there, and suddenly the expert is disabled because spread > maxspread? Are the pending orders cancelled? Or they are kept with no change? Thanks nuno
Yes they are cancelled and ea waits 5 seconds. If spread is now below, it opens new orders if there is time.....
  • #684
  • Jul 17, 2013 10:30am Jul 17, 2013 10:30am
Quoting 350z 8877
Hi there, if anyone can help me, also with charge pm me. I have problem with my script. I would like to disable one of the functions. During trading, it will place buystop and sellstop and if one of them trigger, the other will be deleted immediately. I want to disable this function. Let it remain there. Thanks.
Set OCO=false and it will remain ! Until STWAN has expired or do you want it to stay after STWAN as well?
  • #685
  • Jul 17, 2013 10:37am Jul 17, 2013 10:37am
Quoting Thinh
hello! I have a problem. I used amazing ea version 3.0.0 in a time and it was ok. But, recently, it don't open any pending order. I can't understand why. Help me! This is picture: {image}
Hey Thinh

When you captured this image it was 10 seconds before news. With SecBPO=20 that means open orders 20 seconds before the news
The EA is designed to open orders 10,000 points away and then bring them in according to SecBAO which you have as 2 seconds, so 2 seconds before the news the orders will be brought close. If that doesn't happen, it's either not enough time for your broker or your internet is slow, or the broker has frozen.

In the time of the picture, the orders are supposed to be far away and will be brought close in 8 seconds time.

If you don't like this, set SecBPO and SecBAO to the same value.
  • #686
  • Jul 17, 2013 10:38am Jul 17, 2013 10:38am
Quoting nquental
{quote} Maybe you had the same problem I had. Perhaps the far away pending orders were opened correctly but then cancelled as the spread was higher than the max. spread, thus disabling the EA.
But, I can't use EA although spread was lower than max. I tried many times.
  • #687
  • Jul 17, 2013 10:40am Jul 17, 2013 10:40am
Quoting nquental
Anyone knows why the spike of USDCAD (to trade the BOC Rate Statement) took place at the minute 59, instead of 00? In GMT 14h. Is it normal to happen 1 minute before? It would destroy the trade...
Nuno

It happened at 2 seconds before so shows up in the 59 candle.
  • #688
  • Jul 17, 2013 10:54am Jul 17, 2013 10:54am
Quoting Thinh
{quote} But, I can't use EA although spread was lower than max. I tried many times.
Set SecBAO higher like 5. Also, your broker might be slow or freezing. If it doesn't work on 5 get a new broker

There are text files with the EA that explain how everything works and how to find your logfiles. If you read the logs, you should be able to work out why it isn't working.

Also, check the time of your broker. If it's a Demo server, it may be wrong.
  • #689
  • Jul 17, 2013 11:23am Jul 17, 2013 11:23am
Quoting Alan111S
{quote} Nuno It happened at 2 seconds before so shows up in the 59 candle.
But even so, in these two seconds we would lose a lot of pips. My question is not related to the EA, of course, it's related to the news itself.
  • #690
  • Jul 17, 2013 11:24am Jul 17, 2013 11:24am
Quoting Thinh
{quote} But, I can't use EA although spread was lower than max. I tried many times.
You have the smiley face happy?? It's strange, post your parameters here so people can better evaluate your problem.
  • #691
  • Jul 17, 2013 2:47pm Jul 17, 2013 2:47pm
Quoting rimpampa
{quote} I also don't like the idea of leaving orders opened because I also use this EA when I'm not watching and this is one of the most needed options for me. So please don't remove the option to automatically close the orders after CTWAN. Option OCO=false proved for me profitable few times when the whipsaw happened. But orders needs to be closed after CTWAN. My idea was not to change SLs but to move SELL STOP order when BUY STOP order is triggered (and vice versa) to match the SL price of triggered one (or by some number of pips which we can setup)....
I only want to leave the opposite order if you have OCO=false and one of your orders is live. If the orders are still pending at STWAN time, both orders are still deleted.

A few traders used OCO=false on the GBP news. Well done!
  • #692
  • Jul 17, 2013 3:30pm Jul 17, 2013 3:30pm
Quoting Alan111S
{quote} I only want to leave the opposite order if you have OCO=false and one of your orders is live. If the orders are still pending at STWAN time, both orders are still deleted. A few traders used OCO=false on the GBP news. Well done!
Thanks Alan!

What is your plan for situation when one order is triggered and one is pending and in meantime STWAN time passes and the triggered order get closed? Will then EA delete pending order?

Just have in mind that a lot of people need option to close pending orders since they are not always in front on their PCs.

Have a nice day!
  • #693
  • Jul 17, 2013 3:43pm Jul 17, 2013 3:43pm
Quoting rimpampa
{quote} Thanks Alan! What is your plan for situation when one order is triggered and one is pending and in meantime STWAN time passes and the triggered order get closed? Will then EA delete pending order? Just have in mind that a lot of people need option to close pending orders since they are not always in front on their PCs. Have a nice day!
Once the triggered order is closed, the other pending is also deleted.
  • #694
  • Jul 17, 2013 10:11pm Jul 17, 2013 10:11pm
Quoting Alan111S
{quote} Set SecBAO higher like 5. Also, your broker might be slow or freezing. If it doesn't work on 5 get a new broker There are text files with the EA that explain how everything works and how to find your logfiles. If you read the logs, you should be able to work out why it isn't working. Also, check the time of your broker. If it's a Demo server, it may be wrong.
I open pending order with live account. And before, i still used normal. may i got problem with broker?
  • #695
  • Jul 17, 2013 11:20pm Jul 17, 2013 11:20pm
Quoting Thinh
{quote} I open pending order with live account. And before, i still used normal. may i got problem with broker?
Maybe your broker is not fast.
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  • #696
  • Jul 17, 2013 11:31pm Jul 17, 2013 11:31pm
Quoting susantasaren
{quote} Maybe your broker is not fast.
My broker is Forex.com
  • #697
  • Jul 18, 2013 1:03am Jul 18, 2013 1:03am
Quoting Thinh
{quote} My broker is Forex.com

Thinh, send me a contact request on Skype - my user is alan.prothero then we can resolve your issue through chat. Just mention you are user Thinh on FF.

Alan
  • #698
  • Jul 23, 2013 11:11pm Jul 23, 2013 11:11pm
Hi All,

Nice to meet you, Ive come to learn more about this news spike trading.

Thank you all for your contributions so far and noteably, Alan - you seem to be leading the way.

I look forward reading more and I will share with you some insights as I can. Ive some experience in news trading and though its not via a straddle trading EA, it experiences many of the same issues/challenges Ive read about in this thread.

Best of fortune to us all.

Adam
  • #699
  • Jul 23, 2013 11:46pm Jul 23, 2013 11:46pm
Quoting bisho777
this is really huge work... one small tip... u can optimize ur settings for next event by trail n error same event history... by using strategy tester... for example if i used below setting for last nfp i could caught around 50 pips in nzd/usd n gbp/usd pairs; PointsAway=120; TP=0; SL=100; CTCBN=0; SecBPO=20; SecBMO=0; STWAN=30; OCO=true; BEPoints=50; BEOffset=9; TrailPoints=100; TrailOffset=0; MaxSpread=100; isnt that nice guys?!

Hi Bisho,

I like your logic and had thought something similar myself.

Beware though, that standard MT4 data uses interpolated (fake) ticks, its not a recording of the actual price action, so your determination is based on fake ticks and therefore only as indicative as the data is accurate, over the number of sample used.

The solution is get real tick data, either downloaded from Dukascopy (or directly recorded from the broker, there are scripts to to do that), every tick with variable spread, and then average the (variable) spread to match the feed you are trading, add in X volume commission to match your broker, plus an allowance for slip (add the average expected to the vol commission works fine), and then test a range of setting on the same release each time its occured for as many sesssion back into history as possible (the higher the number the better). Though its not perfectly accurate, its the most indicative in advance of a high number of real time trading examples/data.

This would be using statistical modelling via backtesting over a statistically significant number of past trading sessions (of the same release) to determine the best settings. There appears to be some good baseline setup now, so it would be more about refinement and tailoring to each news announcement I think or better yet to determine settings that work consistently on most pairs/news releases.

This is the theory, and Ive accurate av spread, and slip data on 100's of trades (during news releases) on some good brokers that work with the current EA system I use for trading news, but my IT skills lack sufficiently to preclude me from doing all of what Ive outlined above (ie the statistical validation based on past news releases), myself.

Maybe there's someone here with the required IT skills - who lacks the technical specs and broker advice I could provide - that would be prepared to work together to determine the best/most robust settings via the method outlined above ?

Adam
  • #700
  • Jul 24, 2013 7:48am Jul 24, 2013 7:48am
Hi All

I'm releasing the latest code.

24-Jul-2013
Version 3.1.0 Modified by Alan Prothero
Bugfix: Fixed SL=0 causing Risk Calculation to fail (Div by Zero error)
Changed Risk Code to *Not* Allow Micro Lots because some brokers don't allow them
After STWAN logic changed to keep opposite order as hedge unless OCO=true or both pending orders cancelled due to STWAN
Better Magic Number Definition

PLEASE READ:- Please be aware that OCO now defaults to false. Also, if you use OCO=false and 1 order goes live, the other order will remain past the time specified by STWAN until you manually delete it. If neither order is hit by STWAN, then both orders are deleted as normal.
Attached File(s)
File Type: zip Amazing EA 3-1-0.zip   14 KB | 529 downloads
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