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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

Attachments: Straddle trading EA
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Straddle trading EA

  • #1,021
  • Mar 14, 2014 4:11am Mar 14, 2014 4:11am
Quoting Tutela
{quote} So according to you, Thinkforex, is Ok to work with Amazingea. What about the spread, there are fix spread ? Thanks
Absolutely, Amazing EA and other EAs work well at Thinkforex. The spread is the lowest (so I chose it) compared with other brokers, but the spread is not fixed, it fluctuates in accordance with the liquidity providers. Beside being a news trader, I am a scalper too so the slippage and spread are crucial and the most important thing for me. During the news spread certainly widened but returned to normal after that. I have bad experience with fixed spread broker (FXCM last year, DD account), it slipped me 880 pip!! (the fill price at the end of the spike) on XAUUSD so my TP became my SL and lost terribly. IMHO in trading News Report you have to look for the broker(s) with least slippage, because there is no relationship between fixed spread and slippage. As long as the price move in one direction much bigger than the widened spread you will get profit if the slippage is very small.
Here are the screen shots of zero spread on Thinkforex that I manage to capture after NFP.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Spread GU 7-3-2014;0.0 gbpusdprom5.png Size: 26 KB
Click to Enlarge Name: Spread zero on Thinkforex.7-3-2014.png Size: 115 KB
  • #1,022
  • Mar 14, 2014 7:24am Mar 14, 2014 7:24am
Hi drBBMM, are you using the VPS that offer with pro account to trade with amazing ea?
Thanks.
  • #1,023
  • Mar 14, 2014 12:31pm Mar 14, 2014 12:31pm
Quoting drBBMM
I have bad experience with fixed spread broker (FXCM last year, DD account), it slipped me 880 pip!! (the fill price at the end of the spike) on XAUUSD so my TP became my SL and lost terribly.
On what date did you experience that gold spike? It's possible you're referring to a market event that affected all brokers, not just FXCM. It's important to note that the past few months have seen several large spikes in gold. If your order was filled at the end of a spike, it's because that's where there was sufficient liquidity to fill your order. Often when a large market gap occurs, few if any orders can get filled at the in between prices due to lack of liquidity.

You don't have to take my word for it. Note the following 2 articles about the recent spikes in gold:

  1. http://www.zerohedge.com/news/2013-1...ld-market-halt
  2. http://blogs.marketwatch.com/thetell...-manipulation/

It's not my intention to take this thread off topic, but I felt I had to respond to your comments. If you still have concerns about this, I'd be happy to discuss them with you in the FXCM thread http://www.forexfactory.com/showthre...38#post7340038

  • #1,024
  • Mar 14, 2014 6:18pm Mar 14, 2014 6:18pm
another decent agent trying to defend his angelic broker!!

WE GOT SICK OF YOU!
  • #1,025
  • Mar 15, 2014 1:45am Mar 15, 2014 1:45am
[quote=Nortal;7341058]Hi drBBMM, are you using the VPS that offer with pro account to trade with amazing ea? Thanks.]

No. I seldom used VPS to trade Amazing EA because I used to compare the results were the same whether I used VPS or not. If I trade using SNW Elite, I always use VPS because latency makes the fill price different.
  • #1,026
  • Mar 15, 2014 2:18am Mar 15, 2014 2:18am
Quoting Jason Rogers
{quote} On what date did you experience that gold spike? It's possible you're referring to a market event that affected all brokers, not just FXCM. It's important to note that the past few months have seen several large spikes in gold. If your order was filled at the end of a spike, it's because that's where there was sufficient liquidity to fill your order. Often when a large market gap occurs, few if any orders can get filled at the in between prices due to lack of liquidity. You don't have to take my word for it. Note the following 2 articles...
NFP US 1-2-2013 pk 20.30 WIB (=13.30 FXCM)2013.02.01 20:07:49, AmazingEA-1.2.2 XAUUSD,M1 inputs: PointsAway=100; TP=300; SL=0; NYear=2013; NMonth=2; NDay=1; NHour=13; NMin=30; CTCBN=0; SecBPO=30; SecBMO=2; STWAN=60; OCO=true; BEPoints=50; BEOffset=10; TrailingStop=0; MM=false; RiskPercent=1; Lots=600; TradeLog="AmazingEA"; Buy Stop EA =1664.15, Fill = 1672.95→ Slippage = 1672.95 -1664.15 = 880 pip.
Attached File(s)
File Type: docx FXCM.NFP.XAUUSD.docx   37 KB | 445 downloads
  • #1,027
  • Mar 15, 2014 8:51am Mar 15, 2014 8:51am
1. Anyone can edit this ea(NewsTradingEA) to remove the "extern int CTCBN" function..
2. edit or change ea(straddle&trail) "extern int Pre.Event.Entry.Minutes=2;" functionso that it will op buy or sell stop in seconds before the news release not in minutes..
thank you..
Attached File(s)
File Type: mq4 NewsTradingEA.mq4   6 KB | 709 downloads
File Type: mq4 Straddle&Trail.mq4   50 KB | 685 downloads
  • #1,028
  • Mar 16, 2014 4:29am Mar 16, 2014 4:29am
Alan, you may be right concerning the risk involved in trading double data. But there are also cases where single data whipsaw also. i have experienced such cases. when we signed up for trading fx, we knew the risks involved. i have traded many double data that paid well. the best thing is to pray that the next trade one is about to take just goes as planned. happy trading friends
  • #1,029
  • Mar 18, 2014 11:01am Mar 18, 2014 11:01am
Hi All, I trust that everyone is well?

I traded the CAD speach this afternoon.

The EA set pending trades at 1000 points away, but did not move them in in order to take the trades.

I checked, my max spread is 240 points and max slippage was at 200 points. I was just wondering as to the reason why the ea would open the pendings but not move them?

Anyone experience the same yet?

Any feedback is welcome.

Cheers

H

  • #1,030
  • Mar 18, 2014 3:56pm Mar 18, 2014 3:56pm
Quoting HannesJoub
Hi All, I trust that everyone is well? I traded the CAD speach this afternoon. The EA set pending trades at 1000 points away, but did not move them in in order to take the trades. I checked, my max spread is 240 points and max slippage was at 200 points. I was just wondering as to the reason why the ea would open the pendings but not move them? Anyone experience the same yet? Any feedback is welcome. Cheers H
Brokers sometimes freeze prices - ticks make the EA work. No ticks, no move into position......
Other reason might be clock inaccuracies. If you have UseBrokerTime=True, check the time in the Market Watch window. Is it accurate? If you have UseBrokerTime=False, check your PC clock.....
Many people setup the gap from SecBAO to SecBMO as 5 seconds. To move 2 orders in 5 seconds requires very accurate timing. If you are more than 2-3 seconds out, forget it.

Alan
  • #1,031
  • Edited 1:26am Mar 19, 2014 1:13am | Edited 1:26am
Quoting Alan111S
{quote} Brokers sometimes freeze prices - ticks make the EA work. No ticks, no move into position...... Other reason might be clock inaccuracies. If you have UseBrokerTime=True, check the time in the Market Watch window. Is it accurate? If you have UseBrokerTime=False, check your PC clock..... Many people setup the gap from SecBAO to SecBMO as 5 seconds. To move 2 orders in 5 seconds requires very accurate timing. If you are more than 2-3 seconds out, forget it. Alan
Hi Alan, thanks for taking the time to reply. I thought as much, this is the first time that this has happened and otherwise the EA is working as desigened. So I figured that the problem is with the market and the broker.

Cheers

H

  • #1,032
  • Mar 19, 2014 7:04am Mar 19, 2014 7:04am
I tried something with this EA instead of straddling the news.

I placed it on a H1 TF NZDJPY pair and then changed the STWAN to around an hour. I make it trade when London opens. Trade opened today and hit TP after an hour or so. I will try it out again and see if I can continue getting profits from it.
  • #1,033
  • Mar 19, 2014 11:16am Mar 19, 2014 11:16am
Quoting drBBMM
{quote} NFP US 1-2-2013 pk 20.30 WIB (=13.30 FXCM)2013.02.01 20:07:49, AmazingEA-1.2.2 XAUUSD,M1 inputs: PointsAway=100; TP=300; SL=0; NYear=2013; NMonth=2; NDay=1; NHour=13; NMin=30; CTCBN=0; SecBPO=30; SecBMO=2; STWAN=60; OCO=true; BEPoints=50; BEOffset=10; TrailingStop=0; MM=false; RiskPercent=1; Lots=600; TradeLog="AmazingEA"; Buy Stop EA =1664.15, Fill = 1672.95→ Slippage = 1672.95 -1664.15 = 880 pip. {file}
Hi drBBMM,

As you have noted, the order in question was triggered during NFP. It's important to keep in mind that when a stop order is triggered, it becomes a market order. That means it will be filled at the best available market price. The chart you posted shows how the market gapped during the news announcement and began trading at a much higher price. That would seem to explain why your stop order experienced slippage. However, I would still like to have this trade instigated further for you to be sure. Please email me at [email protected] with your account number and the ticket number, so the Trade Audit Committee can take a closer look.

Thanks,
Jason
  • #1,034
  • Mar 27, 2014 2:35am Mar 27, 2014 2:35am
Hi Allan

Thanks. I could able to use the EA profitably so far.

However, I noticed the following 26 warnings while compiling the EA today. This never happened after you had updated the 4.2.0 version.. Can you please check them? Will the present Amazing EA 4.2.0 work correctly with these warnings?

Your early response would be appreciated.

FxOptimus
Attached Image
  • #1,035
  • Mar 27, 2014 4:05am Mar 27, 2014 4:05am
Hello,
I don't understand the programmation I see on this forum. I see TP=300 for example, so 30 pips. It's enormous for a news.
How can amazingea works, if the news give only 10 pips, we lose. So what's the interest to set TP=300 ?
Thanks for your help.
  • #1,036
  • Mar 27, 2014 6:29am Mar 27, 2014 6:29am
Quoting Fx-optimus
Hi Allan Thanks. I could able to use the EA profitably so far. However, I noticed the following 26 warnings while compiling the EA today. This never happened after you had updated the 4.2.0 version.. Can you please check them? Will the present Amazing EA 4.2.0 work correctly with these warnings? Your early response would be appreciated. FxOptimus {image}
It seems that MQL4 is getting stricter about coding standards. On previous builds of MT4 there weren't any warnings displayed, but on Build 625 these warnings are shown. What they mean is that the code is not checking the return value of the OrderModify/OrderClose/OrderDelete functions. This means that if there is an error the code won't pick it up and display it properly.

When placing the orders the EA checks for errors.

It won't change the behaviour or success/failure of the EA in any way, compared to before. However, I have to add error checking logic in multiple places - which isn't a five minute job. Sigh!
  • #1,037
  • Mar 27, 2014 7:01am Mar 27, 2014 7:01am
Hi Allan

Thanks for your reply. I can understand your point of view. However, I deployed the EA on 5 GBP pairs when RetailSale news was released today. The EA worked perfectly alright and the buy order picked up in GBPUSD got me $20. I kept the lotsize small to check the EA works correctly in build625 despite the warnings.

My experience with Amazing is that for a small risk big profits can be made when deployed in multiple pairs. The small Vs big can be attributed to risk vs reward. So far it has been successful with couple times lost about 5%. Thank you so much for the EA for the stress free news trading.

I hope you will make necessary changes in the EA and make it warnings free soon.

FxOptimus
  • #1,038
  • Mar 27, 2014 7:39am Mar 27, 2014 7:39am
New Release

27-Mar-2014
Version 4.3.0 Modified by Alan Prothero
Fixed Compile Warnings generated by MT4 updating to Build 625
The warnings were due to not checking return codes from OrderModify, OrderClose or OrderDelete Functions
Errors are now displayed in the AmazingEA LogFile, with expanded descriptions

Attached File(s)
File Type: zip Amazing EA 4-3-0.zip   18 KB | 1,865 downloads
  • #1,039
  • Mar 27, 2014 10:16am Mar 27, 2014 10:16am
Thank you boss, you are far too kind. v4.3.0 here we go
  • #1,040
  • Mar 27, 2014 10:19am Mar 27, 2014 10:19am
@All.. are you still having problems saving your EAs to your new build MT4? simply go to file on your metatrader, scroll down and click OPEN DATA FOLDER, select MQL4 folder and save it to experts... VOILA!!!!!!
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