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News Trading - Straddle 11 replies

Which Broker for News Straddle trading? 9 replies

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Straddle trading EA

  • #1,041
  • Mar 27, 2014 7:54pm Mar 27, 2014 7:54pm
Quoting Alan111S
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 {file}
thank a lot to share your great job..
GBU
  • #1,042
  • Mar 28, 2014 9:46pm Mar 28, 2014 9:46pm
Quoting Gabmah
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.. {file} {file}
can you share your best set to trap next NFP on UsdJpy or EurUsd?
thank.
  • #1,043
  • Mar 29, 2014 5:40am Mar 29, 2014 5:40am
Quoting Alan111S
I really don't like it when people say the 'EA didn't work', when even in the attached screenshots I can see clearly that it was working! However, I am quite forgiving because I think daherxdaher meant to say "my trades didn't work". Here are the 3 issues that you probably encountered:- EAs only run when a Tick is received All EAs will execute once when a price 'tick' is received. When price (either bid or ask) changes, it generates a 'tick'. So just before NFP, many brokers choose to smooth prices or restrict the number of ticks sent to MT4. Latency...
Hi Alan

Thanks for the updated version. In connection with your above post I would like to have your opinion and suggestions for my following news trading strategy;

On major news releases I trade all related pairs. For example AUD news I set up the EA in AUDUSD, AUDJPY, AUDCAD, AUDCHF, EURAUD & GBPAUD. My sttings for placing orders - CTCBN=1, SecBPO=50, SecBAO=5, SecBMO=1, STWAN=20.

All the pairs are set with same settings as above. Some times all orders gets executed perfectly. However, as you observed when there is any delay from the Broker in receiving the ticks all pending orders gets deleted. I use VPS for news trading.

With your experience can you suggest the best way to do the set ups in multiple pairs.

Thank you
FxOptimus
  • #1,044
  • Mar 30, 2014 9:15pm Mar 30, 2014 9:15pm
Quoting Fx-optimus
{quote} Hi Alan Thanks for the updated version. In connection with your above post I would like to have your opinion and suggestions for my following news trading strategy; On major news releases I trade all related pairs. For example AUD news I set up the EA in AUDUSD, AUDJPY, AUDCAD, AUDCHF, EURAUD & GBPAUD. My sttings for placing orders - CTCBN=1, SecBPO=50, SecBAO=5, SecBMO=1, STWAN=20. All the pairs are set with same settings as above. Some times all orders gets executed perfectly. However, as you observed when there is any delay from the Broker...
Well there is 2 options:- one is to run more terminals. If your VPS has enough grunt you can login to the same account multiple times so just setup several copies of MT4. I use C:\MT4 as opposed to Program Files then AxiTrader1, AxiTrader2 etc. If you don't use Program Files, you can add /portable and then your 'Data Folder' will remain in C:\MT4\AxiTrader1\MQL4 etc.

The other option is to use a Tick Generator such as MT4Ticker . Tip: Make sure you don't set the gap between ticks to be too low - I use 500ms. With MT4Ticker running you can switch off UseBrokerTime (set it to false) and the EA will keep time perfectly without help from the brokers ticks.

It's quite interesting to watch the ticks coming in on MetaTrader for Android - if you have lots of currencies loaded, you can see big gaps with no ticks at all.

Alan

PS Do a search on this thread for MT4Ticker - you will need to register but it's free and I think the registration is so they can update you when new builds of MT4 break the functionality again
  • #1,045
  • Mar 31, 2014 1:06pm Mar 31, 2014 1:06pm
Quoting Alan111S
{quote} Well there is 2 options:- one is to run more terminals. If your VPS has enough grunt you can login to the same account multiple times so just setup several copies of MT4. I use C:\MT4 as opposed to Program Files then AxiTrade.......
Thanks Mr.Alan. From your reply I presume that you suggest to run the EA individually for each pair separately in each mt4. In other words one mt4 per pair. Is that right?

I have already created separate mt4 of same broker to trade different accounts. I also installed the latest MT4Ticker. I used it last week.

FxOptimus
  • #1,046
  • Apr 1, 2014 10:45am Apr 1, 2014 10:45am
Dear Alaan and Users,
What is the difference b/w
1. BEPoints & Trailpoints
2. BEOffset & TrailOffset?
  • #1,047
  • Apr 1, 2014 12:19pm Apr 1, 2014 12:19pm
Latest version has bug. I have selected 20 pointsaway and you can see in screenshot that pending orders on eur/jpy are executed 142.83 and 152.951.
Attached Image (click to enlarge)
Click to Enlarge Name: image.jpg Size: 242 KB

Any solution ?
  • #1,048
  • Apr 1, 2014 8:58pm Apr 1, 2014 8:58pm
Quoting Alpha007
Latest version has bug. I have selected 20 pointsaway and you can see in screenshot that pending orders on eur/jpy are executed 142.83 and 152.951. {image} Any solution ?
It's not a bug and it's not the latest version either. The version you were using was V3.0.0 and the latest is V4.3.0.

The orders are opened far away and moved into position between SecBAO and SecBMO. If no ticks are received from the broker during that time then the orders won't be moved. Looks like you were testing at a random time. During news there is normally more price ticks (unless the broker is playing dirty tricks). In fact your Sell was moved into position but the Buy was not. In that version the distance was hard coded to 10000 points but now you can set it using PointsGap. If you don't want to use this set SecBAO and SecBPO to be the same value.

From the ReadMe Instructions file:-
SecBAO - Seconds Before Adjacent Orders
If you set SecBAO, a special technique will be employed where the orders are opened 'PointsGap' points away + Pointsaway setting from current price, which allows you to open orders earlier but safely. When the time reaches SecBAO seconds before the news, the orders will be moved into place. If you set this to the same value as SecBPO, the code is ignored and the EA just opens the orders at the normal distance and doesn't move them. On Demo, you may find the orders aren't moved because there aren't enough price ticks generated. In this case try setting SecBAO higher than 10. On Live, during news you may be able to set as low as 3 seconds. Default Setting is 5.
  • #1,049
  • Edited 9:00pm Apr 1, 2014 8:59pm | Edited 9:00pm
Quoting Alpha007
Dear Alaan and Users, What is the difference b/w 1. BEPoints & Trailpoints 2. BEOffset & TrailOffset?
From the ReadMe Instructions file:-

BEPoints - Break Even Points
Points In profit which EA will Move SL to Break Even + BEOffset; a nice way to lock in some profit. If you leave it at 0 nothing will happen.

BEOffset - Break Even Offset
Number of points to move beyond Break Even (allows to cover Broker Commissions etc.) Set to 0 to disable.

TrailPoints - Trailing Stop
Enter the amount of Points you want to trail by. If you set this to 20 points, the EA will maintain a distance of 20 points behind current price. Setting to 0 disables trailing stops.

TrailOffset - Trailing Stop Offset
Enter the amount of Points after which you want Trailing to start. Setting to 0 enables Trailing to start as soon as the trade is in profit. If you set this to 150, and TrailPoints is 50, then after 200 points in profit, your Stop will jump to 150 points and maintain a distance 5 points behind current price as long as price keps moving in the correct direction of course.
  • #1,050
  • Apr 2, 2014 1:55am Apr 2, 2014 1:55am
dear Alan and all user amazing Ea,

I set use broker time false, but i can conect to my local time?

can u help me?

and With your experience can you suggest the best set up to next NFP?
thank alot
  • #1,051
  • Apr 3, 2014 8:01am Apr 3, 2014 8:01am
Hi Alan,

first of all I'd like to thank you for all the effort you've put into enhacing this EA into the great thing it is today. I am using the EA in a wide range of markets and it is actually the only reason for what I still use MT4 for.
Anyways - I'd like to come up with a proposal that I believe would be a great add:

I use the Straddle EA to trade the initial spike of news. I never use Take Profit because I'd like to see what the market is willing to give me. But in 95% of the cases I close my order within the first three seconds of the release. So I thought it would come handy if there'd be an option to automatically close any executed order after x seconds. Basicly like STWAN but for the open positions.

Is that possible and what do you think about it?

Regards

Fib
  • #1,052
  • Apr 4, 2014 12:36pm Apr 4, 2014 12:36pm
UJ and GU moved whipsawed today because the deviation was very small (- 7 k), but fortunately I still got profit because the slippage is zerro.

UJ gave 2587.88 USD to me. Here is the setting: 2014.04.04 . UJ 19.30 WIB, AmazingEA 4-3-0.NFP12 USDJPYpro,M1 inputs: PointsAway=120; PointsGap=2000; ModifyGap=10; TP=500; SL=100; NYear=2014; NMonth=4; NDay=4; NHour=19; NMin=30; NSec=0; CTCBN=0; SecBPO=20; SecBAO=5; SecBMO=1; STWAN=70; OCO=true; BEPoints=20; BEOffset=10; TrailPoints=50; TrailOffset=150; TrailImmediate=false; MM=false; RiskPercent=2.5; Lots=9; MaxSpread=0; AddSpreadToSL=true; SlipCheck=false; MaxSlippage=200; AllowBuys=true; AllowSells=true; UseBrokerTime=false; TradeLog="AmazingEA"; P/L 2587.88 USD (29.8 pip)

GU only gave 930 USD to me. here is the setting:2014.04.04 GU, 19.30 WIB, AmazingEA 4-3-0.NFP12 GBPUSDpro,M1 inputs: PointsAway=120; PointsGap=2000; ModifyGap=10; TP=600; SL=100; NYear=2014; NMonth=4; NDay=4; NHour=19; NMin=30; NSec=0; CTCBN=0; SecBPO=20; SecBAO=5; SecBMO=1; STWAN=70; OCO=true; BEPoints=20; BEOffset=10; TrailPoints=50; TrailOffset=150; TrailImmediate=false; MM=false; RiskPercent=2.5; Lots=10; MaxSpread=0; AddSpreadToSL=true; SlipCheck=false; MaxSlippage=200; AllowBuys=true; AllowSells=true; UseBrokerTime=false; TradeLog="AmazingEA"; P/L = 930 USD (9.3 pip)
It is interesting although the price moved only 11.1 pip, smaller than the widened spread (15.8 pip) but the result was still profit, may be the spread had returned back to normal during spike.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: nfp uj, 4-4-2014, 19.30 wib.thinkforex australia metatrader 4.png Size: 125 KB
Click to Enlarge Name: nfp gu 4-4-2014, 15.30 thinkforex australia metatrader 4.png Size: 136 KB
  • #1,053
  • Apr 9, 2014 11:56pm Apr 9, 2014 11:56pm
Dear Alan and drBBMM
I already tested this amazing EA with some brokers. But it's only run in demo account. When I set up EA in Real account, it's do nothing. Can't understand!
Or if broker do not allow to run EA in Real account? So Could you help me a resolution to run EA?
Many thanks and waiting yours
  • #1,054
  • Apr 15, 2014 10:52am Apr 15, 2014 10:52am
Quoting bigboss1811
Dear Alan and drBBMM I already tested this amazing EA with some brokers. But it's only run in demo account. When I set up EA in Real account, it's do nothing. Can't understand! Or if broker do not allow to run EA in Real account? So Could you help me a resolution to run EA? Many thanks and waiting yours
Hi bigboss Check if the smiley face appears, and check also logs file:File/Open Data Folder/logs and MQL4/logs if there are any errors. If STWAN is to small the orders will be deleted soon. If spread exceeded the Max spread nothing will happen on your chart.
Some bad Dealing Desk brokers hate good EAs, so ask your broker whether it allows EA or not.
Good ECN brokers will allow all EAs to run.
Amazing EA should run well on live account.
Here is another example of good performance of Amazing EA on CPI GBP that has given me profit on live account.
CPI GBP 15-4-2014 didn't move much because the deviation was zero (it must be 0.3 or more).
Regards
drBBMM
Attached Image (click to enlarge)
Click to Enlarge Name: cpi gbp,15 april 2014.thinkforex australia metatrader 4.png Size: 125 KB
  • #1,055
  • Apr 15, 2014 4:32pm Apr 15, 2014 4:32pm
Hi Doc,

Thanks for sharing It is always usefull.

Nevertheless, I am wondering why you keep OCO = true ? In case of a Spike reverse, you should get benefit of the second order (and limit your lost)
  • #1,056
  • Apr 16, 2014 4:25am Apr 16, 2014 4:25am
Hi Alan, Hi all,

I know that Alan is not recommended to trade employement news. I tried to catch few pips in a UK Claimant Count this morning with 0.1 lots and short trailing stop.

It was not a great success as the broker I used (Thinkforex Pro Live Account) slipped me by 30 pips away .
I am a bit unhappy as I tried to protect myself with slippage=true (200), without great success :

UK Claimant Count 2014 April 16
PA=50 Trailoffset=50 Trailpoint=20 (see picture attached)

Someone has also experienced such a massive slippage today ? I am going to compete several brokers to see the difference)
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot2.png Size: 104 KB
  • #1,057
  • Apr 16, 2014 11:16am Apr 16, 2014 11:16am
Quoting totowah
Hi Doc, Thanks for sharing It is always usefull. Nevertheless, I am wondering why you keep OCO = true ? In case of a Spike reverse, you should get benefit of the second order (and limit your lost)
I use Amazing EA to trade spike only not the reversal, as I never know whether the reverse move will occur or not,or if it does occur the move will be big enough or not to yield profit, otherwise -if the whipsawed moves are too small- I 'll get lost on both side. For post news release trade I use Ajax.ex4 from Boris and Kathy Lien.
In today's Interest Rate CAD trade , the whipsawed move were too small as the deviation was 0 (deviation must be 0.25 or more to trigger big move), and if your broker gave big slippage the result would be lost in both direction. Fortunately my broker,thinkforex gave zero slippage to me so I still got profit though very little (36.4 USD = 1 pip).
Attached Image (click to enlarge)
Click to Enlarge Name: Interest Rate CAD, 16-4-2014, pk 21.00 WIB.usdcadpro-m1-thinkforex-com-3.png Size: 125 KB
  • #1,058
  • Apr 17, 2014 2:27pm Apr 17, 2014 2:27pm
Been using AmazingEA for a while and was great,but i've been facing huge slippage from brokers lately..Anyone have a broker with little or no slippage i can use?i wouldn't mind using a VPS if that would help..I wanted to join ThinkForex but they don't accept clients from my country..so every recommendation would be appreciated.
  • #1,059
  • Apr 17, 2014 3:13pm Apr 17, 2014 3:13pm
Quoting Tutela
{quote} So according to you, Thinkforex, is Ok to work with Amazingea. What about the spread, there are fix spread ? Thanks
Hi Tutela,
Am also in search of a good broker just like you are in search,I would have love to join ThinkForex,seems drBBMM is really doing well over there on the pro ac..however,ThinkForex doesn't allow registration from my country..really sad..Gotta keep searching..Am using TenkoFX presently,slippage getting excessive these days! Altho spreads are low and ALWAYS fixed..would be nice to get a great broker with good slippage control..dunno which broker Alan is using
  • #1,060
  • Apr 19, 2014 5:56am Apr 19, 2014 5:56am
Quoting totowah
Hi Alan, Hi all, I know that Alan is not recommended to trade employement news. I tried to catch few pips in a UK Claimant Count this morning with 0.1 lots and short trailing stop. It was not a great success as the broker I used (Thinkforex Pro Live Account) slipped me by 30 pips away . I am a bit unhappy as I tried to protect myself with slippage=true (200), without great success : UK Claimant Count 2014 April 16 PA=50 Trailoffset=50 Trailpoint=20 (see picture attached) Someone has also experienced such a massive slippage today ? I am going to...
that news moved with a flash. it was too fast to catch a reasonable price..
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