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How to trade NFP/FOMC and make pips

  • #161
  • Aug 24, 2014 11:51pm Aug 24, 2014 11:51pm
Thank you Binnie,
Very funny post. You are absolutely correct about the markets. I couldn't agree more...
  • #162
  • Aug 26, 2014 2:43am Aug 26, 2014 2:43am
i had bad experience in trading these events, its hard to be consistent. maybe i this thread will help
  • #163
  • Aug 27, 2014 9:53pm Aug 27, 2014 9:53pm
Quoting Ducdaovn
{quote} Hi Scoobidoobi, I think that I can code an EA to follow the way you trade. BTW, can you please confirm: 1/ EA will open trade at special time (I mean time that STRONG NEWS will be release) 2/ EA will open total 12 trades, eample with USD news: 3 buy USDXXX, 3 buy XXXUSD, 3 sell stop USDXXX and 3 sell stop XXXUSD (with 30pips distance) 3/ EA will close all trades when reach profit target (Example: when total profit reach 50 pips or anymore with input value) Right here waiting for you. PS: Hope that you can understand me, sorry because English...

Sounds good Ducdaovn!

Following should be inputs : i) Symbol1 to Symbol6 and ii) initiallot /pendinglot along with iii) pip distance for pending order iv) profit target in dollars ==> if it reaches closes all orders including pending orders.

Also there is a FFCalendar indicator available, if you can use the same and find out when the next impact news for the chart on which EA is attached would make it completely automated instead of we attaching the EA everytime say 7min before event manually...

If you can make an EA for the same we can test it out on few major events and revert back to u....
Scoobi doobi doo
  • #164
  • Aug 27, 2014 10:28pm Aug 27, 2014 10:28pm
Quoting Scoobidoobi
{quote} Sounds good Ducdaovn! Following should be inputs : i) Symbol1 to Symbol6 and ii) initiallot /pendinglot along with iii) pip distance for pending order iv) profit target in dollars ==> if it reaches closes all orders including pending orders. Also there is a FFCalendar indicator available, if you can use the same and find out when the next impact news for the chart on which EA is attached would make it completely automated instead of we attaching the EA everytime say 7min before event manually... If you can make an EA for the same we can...
Exciting stuff Scoobi - wish I had even a basic idea of building EA's . Ha ha
looking forward to being part of this.
  • #165
  • Aug 27, 2014 10:38pm Aug 27, 2014 10:38pm
Quoting binnie
{quote} Exciting stuff Scoobi - wish I had even a basic idea of building EA's . Ha ha looking forward to being part of this.
Binnie,
I know even less than you do. I don't even know what 'EA' stands for, but I completely agree with you---looking forward to being part of this.
  • #166
  • Aug 27, 2014 10:51pm Aug 27, 2014 10:51pm
Quoting Jimtrade
{quote} Binnie, I know even less than you do. I don't even know what 'EA' stands for, but I completely agree with you---looking forward to being part of this.
. Stick around JimT - EA means Expert Advisor or in simple terms a sort of programme that will place trades based on the instructions it has been coded with by its maker - in this case , Ducdaovn who will build the EA based on Scoobi's rules .
Will be fun to watch its progress.
  • #167
  • Aug 27, 2014 10:59pm Aug 27, 2014 10:59pm
Quoting binnie
{quote} . Stick around JimT - EA means Expert Advisor ...
Thought that it was EURAUD ... Still learning
MT4/MT5 EAs/Indicators/Alerts coder
  • #168
  • Aug 28, 2014 12:01am Aug 28, 2014 12:01am
Quoting FerruFx
{quote} Thought that it was EURAUD ... Still learning
FerruFX you trickster. LOL
  • #169
  • Aug 28, 2014 1:14am Aug 28, 2014 1:14am
Quoting binnie
{quote} FerruFX you trickster. LOL
Sometimes
MT4/MT5 EAs/Indicators/Alerts coder
  • #170
  • Aug 28, 2014 7:52am Aug 28, 2014 7:52am
Thank you Binnie,
I agree, it will be a lot of fun to watch it's progress.
  • #171
  • Sep 2, 2014 11:14pm Sep 2, 2014 11:14pm
Aussie RedNews today - tried a hedge set up on my Sim Account - nice spike initially but spat me out real quick . I think the only positive comment I can make is to keep focussed on the USD crosses as originally set out by Scoobi.
Anyone have any comments on recent news events?
  • #172
  • Sep 2, 2014 11:51pm Sep 2, 2014 11:51pm
Quoting binnie
Aussie RedNews today - tried a hedge set up on my Sim Account - nice spike initially but spat me out real quick . I think the only positive comment I can make is to keep focussed on the USD crosses as originally set out by Scoobi. Anyone have any comments on recent news events?

binnie,

for this week calendar main events are ECB and NFP , first event is EUR XXX (ecb) and other is both USD XXX + XXX USD FOR nfp expecting good moves...

Also I heard on Sept 18 there is a big event in GBP on scotland independent vote whether to stay with UK or move out of pound perhaps join euro union that would mean stellar moves on GBP XXX will need to trade if its part of calendar event too...

lets see, good pips for u!
Scoobi doobi doo
  • #173
  • Sep 2, 2014 11:52pm Sep 2, 2014 11:52pm
Ya, I found albeit DEMO, to use just the pairs that match by their listings. As in Aussie news to do AUD/USD, AUD/JPY then a listing mirror of those that end in AUD which is just EUR/AUD and GBP/AUD. So, that is 4 trades going one way and 4 going the other on a separate account with matching stop loss and hedge. After just a small sample size of 7 trading days and 5 news trades I am back in the positive by $4. This is trading different country news too not just US. Weak, but im only interested in a small profit at first no matter if it is $0.04 or $4 the rest will come in time. Also a key interest I have found is to keep those trades open for the next trading day or two as those news events that kinda just hit some of the stops and reverse need more time to make up the loss. I am also not trading if there is say AUD rate quote at 8 o'clock then an AUD trade balance at say 10 O'clock. If they are super high important news I find trading the last one to be a little safer. At least in my minds eye.
  • #174
  • Sep 3, 2014 9:56am Sep 3, 2014 9:56am
Quoting Senikmonk
Ya, I found albeit DEMO, to use just the pairs that match by their listings. As in Aussie news to do AUD/USD, AUD/JPY then a listing mirror of those that end in AUD which is just EUR/AUD and GBP/AUD. So, that is 4 trades going one way and 4 going the other on a separate account with matching stop loss and hedge. After just a small sample size of 7 trading days and 5 news trades I am back in the positive by $4. This is trading different country news too not just US. Weak, but im only interested in a small profit at first no matter if it is $0.04...

Cool Monk, thanks for sharing!
Scoobi doobi doo
  • #175
  • Sep 3, 2014 2:19pm Sep 3, 2014 2:19pm
The Aussie news at EST 9:30pm should be a good set up. I'll be at work but will try to take a break to set up a proper hedge. It is also the last Aussie news for the week. So i have a day or so to let it run before NFP on Friday. I think this is the last one i would do for the week till NFP. Everything is soo clustered this week. GL!
  • #176
  • Sep 4, 2014 4:34am Sep 4, 2014 4:34am
I still don't get how you guys are getting across the Actual Price Filled issue. The entire strategy hinges upon what price the Opposite Pending Orders gets filled at during an explosive volatile news event.
  • #177
  • Sep 4, 2014 1:21pm Sep 4, 2014 1:21pm
Ronnie I have found that it gets sloppy with some of the trades. Like yesterday while on a break at work I traded the Aussie news 9/3/2014. 4 orders up 4 orders down. The sloppy trade was the long GBP/AUD for the 30 pip stop, after 5 minutes, the stop was hit but my reversed sell order was not filled and cancelled due to spread and slippage. The other stops didn't get touched so I in effect had a hedge of 3 long and 4 short.
Long story short I said fine i am not going to re-enter because I still have a GBP/AUD short with a stop on the other account. The market would probably be less
volatile when and if it crosses that stop that the order should be filled just fine. I did leave the trades open till New York close 9/4/2014 and it proved good after a nice sell off in the xxx/AUD my "news basket" I would cal it was profitable by about 50$. I need to scale this back to numbers I will be using upon live trading if and when I feel more confident in the system. Which will be more like 5$ profit.

Best wishes,
Monk.
  • #178
  • Sep 5, 2014 10:53am Sep 5, 2014 10:53am
Dear Scoobi,

Today i executed the live trade of NFP using the system.. I decided to BUY the USD/XXX for total 6 pair, however due to NFP result is negative, resulted my trade is having 3 pair is currently is float where another 3 pair was AUTO STOP LOST 1 min before the news was announced but with a GAIN of few cents or USD 1 dollar plus. (Attached image livetrade 1 & 2) i don't know which part i done wrong which resulted the system to perform such action. hope you advice on these matters. Thanks

Note: I set the TP profit to be USD150
Attached Image(s) (click to enlarge)
Click to Enlarge Name: LiveTrade1-page1.jpg Size: 746 KB
Click to Enlarge Name: LiveTrade2-page-001.jpg Size: 288 KB
  • #179
  • Sep 5, 2014 11:21pm Sep 5, 2014 11:21pm
It was a bad news spike. I had the same happen it just so happens that one of my baskets of pairs namely usd/jpy, usd/cad, eur/usd, gbp,usd is in the positive.
Too much whiplash on this NFP event. Lost half my winnings for the week but i still kept the aformentioned basket open because it could make the loss not so bad.
Ohwell I am still thankfull to have had a positive week. Hopefully next week ill catch another mover.
  • #180
  • Sep 6, 2014 11:10am Sep 6, 2014 11:10am
Quoting Senikmonk
It was a bad news spike. I had the same happen it just so happens that one of my baskets of pairs namely usd/jpy, usd/cad, eur/usd, gbp,usd is in the positive. Too much whiplash on this NFP event. Lost half my winnings for the week but i still kept the aformentioned basket open because it could make the loss not so bad. Ohwell I am still thankfull to have had a positive week. Hopefully next week ill catch another mover.
I like that word, "Whiplash." Very accurate description Monk. That's exactly what happened, whiplash (up and down, up and down). Mr. Market was hunting for stop losses, hitting them, and then reversing. I think the market has figured out our Scoobi maneuver.....
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