{quote} drBBMM, can I ask your logic in setting MaxSpread and MaxSlippage to zero?? How are you guarding against excessive spread and slippage?? many thnx again
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I set my spread to 0 to ascertain my orders will be executed. I used to set it 150 points and my orders were deleted as spread exceeded 150 points while the price moved more than 600 points on NFP so I missed the big profits. As long as the price moved beyond spread + 2 pips or more I got profit at least 1 pip (=BEOffset point). If the price doesn't move beyond the spread, I 'll lose and I 've calculated this risk as the cost of news trading. Regarding the Max Slippage = 0 ,according to Alan this value cannot prevent orders going live and being slipped in the first place. But if the slippage on an 'opened' order exceeds the value set here, the trade will have it's stop loss set to the minimum distance allowed by the broker. If the trade goes against you, it will be closed quickly. If it doesn't, then there is a chance to recoup some losses.
so that's what i got, 25 pips, could've taken more. I tend to set my max spread to 60 and points away to 40 so 40+40=80 which gives me at least 1pip above/below the spread. The execution was perfect because I only used 0.1 lots which gives me another idea - i could open like 20 charts with 0.2 which equals 4 full lots, but as far as my knowledge goes, if an order is 4 lots, they have to be executed at the same time and if I divide them into small pieces, at least half of them could get better fill prices. That's just my theory, i will try it next...
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ksofty if you want to use the Am EA on the same pairs on many charts you should differ its sec setting 1 sec apart on every chart otherwise it 'll confuse the EA as I experienced last year, or you can change the magic code for each chart.
Anyone care to share their opinion on what the hell happened to the AU Retail Sales trade today. We got a decent pop of 0.3 points, but spike up only 4 pips on AUDUSD and right back down. I am thinking this report is no longer reliable and no longer tradable. Doesn't make since anymore. JJ
@drBBMM thank you very much! But if I set the settings like 1sec apart it would be kinda slow, like the 20th order would have to stop adjusting the pending orders 20sec before the news. I think I will go for the magicnumber change. I just got my VPS account, so it should give me better results, i guess...
@JumpJack, why don't you try different pairs? For example if you plan on investing 1 lot on news trading you should try audusd, euraud, audjpy, audcad each with 0.25 for example. And, if you plan on investing like 30-40 lots, trust me - do it on variety of brokers. Pick 5 for example, each of them with 4 pairs and 2 lots on a pair. In that case if you get gapped by 1 broker, the other 4 will give you profit. Same thing happens with liquidity, execution, etc.
One day I accidentally did cross-pair news trading. I don't really remember what the news was about, but I will show you an example:
Let's take some AUD news for instance.
The most traded pairs on australian news would be the most liquid pairs - audusd and audjpy.
That day I had pending orders on usdjpy waiting for a swing trade and then something very interesting happened - AmazingEA on audusd and audjpy stopped because of the maxspread setting and both pairs got massive gaps from my broker but my U/J order was triggered. It was a smooth nice move in one direction, without hesitation or jumping up and down. I got my 20.8 pips and closed the order. I saw this thing happen 1 or 2 times since then on different pairs (last time it was CAD news) and that's why I am still trying to figure out a way I can exploit it.
Hello everyone , first off all let me thank Alan for his fine work and sharing , been trying out this EA , trying to tune it to suit my needs. Today at the AUD Retail sales i got a close order (Off quote) shortly after it got open, dont know what does this mean and i wanted to ask so i know what do i need to change to eliminate eventually this problem. Was this because of slippage or spread or something else ? (slipcheck was false)
@drBBMM thank you very much! But if I set the settings like 1sec apart it would be kinda slow, like the 20th order would have to stop adjusting the pending orders 20sec before the news. I think I will go for the magicnumber change. I just got my VPS account, so it should give me better results, i guess... @JumpJack, why don't you try different pairs? For example if you plan on investing 1 lot on news trading you should try audusd, euraud, audjpy, audcad each with 0.25 for example. And, if you plan on investing like 30-40 lots, trust me - do it on...
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Ksoftly, thnx for your comments and thoughts. I think we all understand it is best to spread across multiple brokers for best fills and results. I was asking for opinions of the lax response to a good reading on AUD Retail Sales. On further study I see AU had a bank holiday all day. That has got to be the reason - the major players in AUD were not at work. JJ
I am not sure but retail sales for australian dollar /monthly as it was/ doesn't seem like an opportunity for big targets. Probably it was the bank holiday that affected the results, but i still think that if it was really important, there are more than enough big players on the market to take advantage out of it. We really need to find a decent source of information about how those things actually work.
I am not sure but retail sales for australian dollar /monthly as it was/ doesn't seem like an opportunity for big targets. Probably it was the bank holiday that affected the results, but i still think that if it was really important, there are more than enough big players on the market to take advantage out of it. We really need to find a decent source of information about how those things actually work.
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K,
I think you got it right. There are many gurus publishing their expert opinions. There is where the projection numbers come from. And you see them wrong about 50% of the time. I thought the right thing was to study all these reports before hand, and form an opinion. Now unless something drastic comes along to change my mind, I just don't pay attention. I have the feeling most of the gurus need to publish something just to keep their job. Much like politicians generating ridiculous bills to keep their jobs (Dodd Frank Act). After the fact analysis seems more accurate and logical, but again publishing to keep their jobs.
Hierarchy. Allen or anyone. Did I read somewhere there is a hierarchy between BPO, BAO, and BMO??? One has to be greater than the other and that greater than the third??? Seems I read that somewhere but searching grants no results. thnx in advance. JJ
Hierarchy. Allen or anyone. Did I read somewhere there is a hierarchy between BPO, BAO, and BMO??? One has to be greater than the other and that greater than the third??? Seems I read that somewhere but searching grants no results. thnx in advance. JJ
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From the Troubleshooter Text File that comes with the EA:-
8) There is a hierarchy for SecBPO, SecBAO and SecBMO. SecBPO has to be greater or equal to SecBAO which has to be greater than SecBMO.
Because this thread is so long I include that kind of info with the EA .....
Out of curiosity has anybody suffered frozen price feeds lately?
i think the issue of price freeze has to do with the broker, their execution type (market making or NDD), or the liquidity providers they work with. i have experienced that often, though not regularly. GBP industrial production was ok, no price freeze. oh! and by the way, $102 on manufacturing production is not a bad way to start my day.
This morning we had UK Manuf. Production. Unfortunately with -0.3 Dev. there was no continuation in PA, but fortunately i could made few pips ...(I was stopped out with 2.5 pips Trailing Stop)
I am also trying to create a news straddling script, and I am testing with the FXOpen ECN demo.
The script tries to open a buystop and sellstop. The sellstop opens fine without any issues, but I get an error code == 0 and ticket # == -1 whenever the script tries to open the buy stop. Is this perhaps a limitation in the script or with the trading platform? I have looked online but have gotten no answers is why I decided to ask on this forum.
hello all ,
first i am new to join this website , a special thanks to Mr\Alan . for all your best good job it is really fantastic .
but i have a question and i hope to get answer from any one .
please Mr\Alan . can you tell me which kind of news to be traded as there is a lot of news like employment not to be traded with your ea .
please all . i hope to get answer to this question , and really it is possible to make profit from news ??
Hey Allan, Are you going to convert the EA to work on cTrader.
I just traded the AUD job report which was not bad. However I just noticed that I can’t make the same money I make on MT4 as I do with cTrader.
My spread + commission during news events on cTrader is on average 2-3 pips (the spread goes up and then returns to 1-2 pips before the spike). Yes, I do get slippage but if I’m to choose between slippage and spread I would choose the slippage.
Moreover the Lot sizes of traders on cTrader are greater compared to MT4, which means bigger fills are easier during those low liquidity events.
I only trade about 2-3 events a month and earn an average of 10-15 pips per trade but the Lot sizes are large using cTrader.
This is just what I have noticed but thanks a lot for the EA and its sad to know that you don’t trade news anymore.
Hey Allan, Are you going to convert the EA to work on cTrader. I just traded the AUD job report which was not bad. However I just noticed that I can’t make the same money I make on MT4 as I do with cTrader. My spread + commission during news events on cTrader is on average 2-3 pips (the spread goes up and then returns to 1-2 pips before the spike). Yes, I do get slippage but if I’m to choose between slippage and spread I would choose the slippage. Moreover the Lot sizes of traders on cTrader are greater compared to MT4, which means bigger fills...
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Max, I don't want to throw cold water on what you are doing, but in my humble opinion Allen is not going to take the time to convert Amaz to another platform. That is a huge ask. And there are dozens of specialized platforms out there to trade on. If he does cTrader, then where does he stop?? Further, there are programmers/coders out there that will do that for you. As I understand it (maybe I am wrong) cTrader is just another STP broker. There are dozens of STP/ECN brokers out there using MT4 that will give you the same or better fills and service as cTrader. Why reinvent the wheel. Just switch to ThinkForex as recommended by several in here or like brokers. Just follow drBBMM, he is one of the brighter sparks in this thread. If you joined FF in 2014, and that is also about the time you started trading, you have about 5 years of steep learning curve before you get there. And if you only got 10-15 pips on this AUD employ move of 50-60 pips you ain't doing it right. Just my two cents.
hello all ,
first i am new to join this website , a special thanks to Mr\Alan . for all your best good job it is really fantastic .
but i have a question and i hope to get answer from any one .
please Mr\Alan . can you tell me which kind of news to be traded as there is a lot of news like employment not to be traded with your ea .
please all . i hope to get answer to this question , and really it is possible to make profit from news ??
I just starting reading this thread and installed the Amazing EA to my Mt4, im having trouble testing it when i set the Time and Date ect, it just opens the Pending orders and then closes them. Wanted to ask fellow traders help?. I have a news coming up, so i wanted to test it out using the last candle High and Low. But it seems im doing something wrong.
If i wanted the to trade lets say in 3 minutes time, and lets say 10pips from the last candle High for Stop buy and 10pips candle low for stop sell, what settings do i need to input? TP lets say 10pips and Sl 20pips?.
Right now im Doing:
Points away = 10
TP= 10
SL= 20
Nyear= 2014
NMonth= 8
Nday= 7
Nhour= 10
Nmin= 40
Nsec= 0
CTCBN= 1
SecBPO= 20
SecBMO=0
SecBAO=2
STWAN=5
OCO=True
BEpoint= 10
and the rest is default.
...(I was stopped out with 2.5 pips Trailing Stop)
