Hi there, i dont post here much but been a member for a couple of years, im not a newb but still looking for ideas, which makes trading much more fun as you all know, professional trading is boring like any other job. This may sound stupid but just throwing out an idea and i'm also looking for a trade manager ea to help me test it.
sounds too simple to work but here goes:
take 2 trades to opposite directions just before big news. it would be curcial if there is a trade manager out there that lets you set an order at a certain time...
add stops for both trades, for example 5 pips. the reason to open trades before news, is that you would get requoted and makes the trade worthless. it would make a huge differents if using ea for the orders, as itl let you place them close and itl be stealth as well, so less likely to be ripped off by the broker, giving you the best possible price.
---------------------------------------------------- stop -5
xxx
xxxx entry
----------------------------------------------------stop -5
so when news comes out and price starts moving you let the ea close one trade and move tp to break even, this will pretty much guarantee a break even on every trade assuming your broker is nice to you.
if news results are unchanged or not sufficient to move the market, you'll likely to come out with 0
but if its something, then most likely there will be a spike and trailing that will get you some pips, also good might be to let trade close partially.
------x----------------------------- tp +5
xxxx
xx
------------------------------------ close -5
I haven't tested this theory much and i know there are problems, like high volatility which might give a false breakout but playing with stops might improve the odds a bit. worst thing you break even or lose a few pips. but today on the Core Durable Goods Orders m/m news i would have been perfect setup since price was flat and did not fluctuate, just formed a nice straight spike of a bout 20 pips, that wouldve been 15 pips profit if trailing it every 5pips.
Does anyone know if there is an ea out there that lets you enter a trade at a certain time, can break even both trades, trailing or jumping stops etc.?
just to make it all automatic for the right time. all you have to do is look upcoming news in the calendar and enter trades into ea for future, that way you wont have to wake up 4 in the morning just to take one trade. most of the time there will be no action on the news anyway.
all critics are welcome to say how stupid i am, but please let me know if you know any of these ea's. cheers!
sounds too simple to work but here goes:
take 2 trades to opposite directions just before big news. it would be curcial if there is a trade manager out there that lets you set an order at a certain time...
add stops for both trades, for example 5 pips. the reason to open trades before news, is that you would get requoted and makes the trade worthless. it would make a huge differents if using ea for the orders, as itl let you place them close and itl be stealth as well, so less likely to be ripped off by the broker, giving you the best possible price.
---------------------------------------------------- stop -5
xxx
xxxx entry
----------------------------------------------------stop -5
so when news comes out and price starts moving you let the ea close one trade and move tp to break even, this will pretty much guarantee a break even on every trade assuming your broker is nice to you.
if news results are unchanged or not sufficient to move the market, you'll likely to come out with 0
but if its something, then most likely there will be a spike and trailing that will get you some pips, also good might be to let trade close partially.
------x----------------------------- tp +5
xxxx
xx
------------------------------------ close -5
I haven't tested this theory much and i know there are problems, like high volatility which might give a false breakout but playing with stops might improve the odds a bit. worst thing you break even or lose a few pips. but today on the Core Durable Goods Orders m/m news i would have been perfect setup since price was flat and did not fluctuate, just formed a nice straight spike of a bout 20 pips, that wouldve been 15 pips profit if trailing it every 5pips.
Does anyone know if there is an ea out there that lets you enter a trade at a certain time, can break even both trades, trailing or jumping stops etc.?
just to make it all automatic for the right time. all you have to do is look upcoming news in the calendar and enter trades into ea for future, that way you wont have to wake up 4 in the morning just to take one trade. most of the time there will be no action on the news anyway.
all critics are welcome to say how stupid i am, but please let me know if you know any of these ea's. cheers!
