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News Trading - Straddle 11 replies

Which Broker for News Straddle trading? 9 replies

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Straddle trading EA

  • #1,381
  • Feb 5, 2015 11:10pm Feb 5, 2015 11:10pm
Quoting wakeel86
No problem Alan. It's ok since you've taken it into consideration. But to note: the timer isn't just 'Time To Live', it goes hand-in-hand with the BE function. If BE has kicked in before timer expires, then closing of the trade becomes overruled/nullified. Closure only comes to effect if no BE & timer expires. Cheers NB: still no reply yet on Amazing's magic number
wakeel

Magic is made of the News Time including seconds.

So, 11:30:00 would get a Magic of 113000

The EA checks the Currency Pair as well so this means you can only run the EA once per Currency and News Time.

Alan
  • #1,382
  • Feb 6, 2015 9:39am Feb 6, 2015 9:39am
What happens if i want to put the ea in many pairs for the same news event?

Is there any option to change magic number?

If not, could you tell me a way to make it trade on different charts
  • #1,383
  • Feb 7, 2015 6:27pm Feb 7, 2015 6:27pm
Quoting Alan111S
{quote} wakeel Magic is made of the News Time including seconds. So, 11:30:00 would get a Magic of 113000 The EA checks the Currency Pair as well so this means you can only run the EA once per Currency and News Time. Alan
ok bro, thanks
  • #1,384
  • Feb 8, 2015 6:33pm Feb 8, 2015 6:33pm
Quoting christarola
What happens if i want to put the ea in many pairs for the same news event? Is there any option to change magic number? If not, could you tell me a way to make it trade on different charts
Christarola

To be clear, I meant Currency Pair and News Time not Currency. So another way of putting it is you can't use it on 2 charts of the same pair and for the same news event down to the second. Even then, if you really wanted to you could but you'd need to make a difference in the News Time of 1 second.

However, I would advise you to be careful with using it on multiple pairs - using it multiple times will flood the connection and slow down responses from the trade server.

Many people new to EAs don't realise the EA only runs when it receives a 'tick'. That is why the clock doesn't always change every second for example.

So, things like ModifyGap are there to reduce the amount of interaction with the server. So that it's ready to react to price changes. Multiple copies might be detrimental to it.
  • #1,385
  • Feb 9, 2015 5:23am Feb 9, 2015 5:23am
Quoting Alan111S
{quote} wakeel Magic is made of the News Time including seconds. So, 11:30:00 would get a Magic of 113000 The EA checks the Currency Pair as well so this means you can only run the EA once per Currency and News Time. Alan
so let's say a news to occur @ 01:30:00 would have its magic number as 13000 (without a 0 in front), am i right?

I also noted that the EA is either slow to modify SL & TP or does not modify 'em @ all, when a pending order gets executed with a slip from last stop order price. when my order was hit, the SL & TP remained @ the same price level set with the last stop order price. SL only changed when my BE was activated.

So can you help look into it Alan

cheers
  • #1,386
  • Feb 9, 2015 10:35am Feb 9, 2015 10:35am
Thanks a lot Alan

I have another one question
What type of broker is preferable to use this ea? I dont trust market makers and most of ecn brokers have high slippage or many Requotes.

So what would you suggest?
  • #1,387
  • Edited 10:00pm Feb 11, 2015 9:05pm | Edited 10:00pm
Quoting wakeel86
{quote} so let's say a news to occur @ 01:30:00 would have its magic number as 13000 (without a 0 in front), am i right? I also noted that the EA is either slow to modify SL & TP or does not modify 'em @ all, when a pending order gets executed with a slip from last stop order price. when my order was hit, the SL & TP remained @ the same price level set with the last stop order price. SL only changed when my BE was activated. So can you help look into it Alan cheers
I noticed that too wakeel - there is a bit of code that prevents the reset of SL and TP if you are using BE and the price is beyond the BE level. The reason for this is to prevent the Reset SL Code moving the BE SL back once you are already at Break Even (the two bits of code will interfere with each other). At the moment, both SL and TP are reset at the same time.

I've thought of a way round this - if price is in between SL and BE then both the SL and TP will be reset, but if it's beyond BE (and you are using BE) then just TP will be reset and SL will be set to BE. I can add some logic to determine this.

I'm about to publish Version 5, so I'll include this change.
  • #1,388
  • Edited 5:11pm Feb 12, 2015 4:53pm | Edited 5:11pm
All

Today I am releasing Version 5.00 of Amazing EA. The new version includes an MT5 version which includes all the features from the latest MT4 version. I've made changes to the MT4 version too.

Change Log:-

13-Feb-2015
Version 5.00 Modified by Alan Prothero
Published new MT5 Version
Minor changes to MT4 version designed to make the MT4 and MT5 versions similar so they are easier to maintain
Improved Logic for PointsGap and SecBAO - Setting either to 0 disables the PointsGap and SecBAO feature
SlipCheck used to skip the SL/TP Reset when using Break Even and trade was in profit, resulting in reduced TP and Profit due to Slippage
Updated Error Code Translations to include latest MT4 Errors and added MT5 Errors
Improved Logfile Writing to latest standards
Converted Print Commands to Write to Logfile Commands
Version Number Style has changed from N.N.N to N.NN as per MetaTrader standards


One thing that I must stress is that MT5 does not allow Hedging, so if a Buy Stop Order triggers then the Sell Stop Order triggers, the original Buy order will be closed. So there is no point in setting OCO=false. I've left it in the code for now that you can set it to false, but I'm considering disabling it.

I would also be very grateful if people would post logfiles to the thread so I can see how either version of the EA is performing. The instructions on where to get the logfiles are in the documentation in the EA zip file.

Enjoy and hope this makes you $$$$$

Alan
Attached File(s)
File Type: zip Amazing EA 5-00.zip   30 KB | 651 downloads
  • #1,389
  • Feb 15, 2015 2:57am Feb 15, 2015 2:57am
thank you Alan
great job
  • #1,390
  • Feb 15, 2015 8:28am Feb 15, 2015 8:28am
Quoting Alan111S
All Today I am releasing Version 5.00 of Amazing EA. The new version includes an MT5 version which includes all the features from the latest MT4 version. I've made changes to the MT4 version too. Change Log:- 13-Feb-2015 Version 5.00 Modified by Alan Prothero Published new MT5 Version Minor changes to MT4 version designed to make the MT4 and MT5 versions similar so they are easier to maintain Improved Logic for PointsGap and SecBAO - Setting either to 0 disables the PointsGap and SecBAO feature SlipCheck used to skip the SL/TP Reset when using Break...
Thank you!!! You're awesome!
  • #1,391
  • Feb 15, 2015 11:30am Feb 15, 2015 11:30am
@Alan111S
Thx a lot!!

I guess you should start a own thread, to be able to post modifications in the first post of your thread.
  • #1,392
  • Feb 18, 2015 10:40am Feb 18, 2015 10:40am
Quoting Alan111S
Guys I have recently replied that I tried coding a version of Amazing EA that used Market Orders instead of Pending. So, the code tried to monitor price (that is, using a virtual straddle) and execute a market order if price exceeded a certain value. Unfortunately, it didn't work well, and the slippage was just as bad ! You still got slippage due to delays in execution etc. In theory, it's a nice idea but in practice, your client does not have a constant stream of prices and instant execution ! So I gave up on that idea. With limit orders, price...
allan how much slippage is too much?

i think we could work this out im currently trading HFT with a broker and its doing great. max slippage i recorded was 7.2 points during news and it varies so i think this will work in the broker i work with if the slippage is youre only concern.

making huge returns is not a problem i already made 3k% and withdrawn
i can request fixed spreads.

what else needed?
  • #1,393
  • Feb 18, 2015 8:33pm Feb 18, 2015 8:33pm
Quoting tankbeta
{quote} allan how much slippage is too much? i think we could work this out im currently trading HFT with a broker and its doing great. max slippage i recorded was 7.2 points during news and it varies so i think this will work in the broker i work with if the slippage is youre only concern. making huge returns is not a problem i already made 3k% and withdrawn i can request fixed spreads. what else needed?
Good job, max slippage of 7.2 is low. Can I ask whether this is a Market Maker or STP/ECN broker?. I'm guessing MM as only a MM can offer Fixed Spreads.

Also, what news events did you try so far.? Reply privately if you prefer. Be careful because some MMs have clauses in their contract that allows them to not pay out to news traders.
  • #1,394
  • Feb 18, 2015 8:35pm Feb 18, 2015 8:35pm
Quoting meathome
@Alan111S Thx a lot!! I guess you should start a own thread, to be able to post modifications in the first post of your thread.
Yes that would be preferable. I might ask the mods if we can keep the same thread but they can insert a new Post 1 that I can use to publish it.
  • #1,395
  • Feb 18, 2015 8:38pm Feb 18, 2015 8:38pm
MM/STP for account below 10k
above 10k ECN directly to the LP's
all news. NFP and FOMC the most profitable for me
  • #1,396
  • Feb 20, 2015 8:49am Feb 20, 2015 8:49am
I just traded the cad news with a broker called 3tgbroker and I got a 35pips slippage..anyone here traded the news too?
  • #1,397
  • Feb 20, 2015 10:26am Feb 20, 2015 10:26am
Quoting tankbeta
MM/STP for account below 10k above 10k ECN directly to the LP's all news. NFP and FOMC the most profitable for me
Hi tankbeta,
can you kindly share your .set file?

Thank you.
  • #1,398
  • Feb 20, 2015 11:25am Feb 20, 2015 11:25am
0.0 pip slippage, i wasn't expecting that especially on usd/cad.
sure i had to take the 11.7 pip spread with me, but on an almost 100 pip move thats nothing.
pretty good first impression , let's hope the next trades will be as good.
this was a first try for me, lets hope others goes as well.
Quoting kohonez
{quote} Hi tankbeta, can you kindly share your .set file? Thank you.
never heard of that broker, also, their website hasn't been refreshed since 2013 !

"Copyright 2013. All Rights Reserved. 3TG FX Financial Limited Partnership"

that doesn't look serious at all, if i were you i would get the hell out of the ASAP.
i lose money for a living
  • #1,399
  • Feb 21, 2015 3:35am Feb 21, 2015 3:35am
I traded the Canadian news yesterday . Got 45 pips! One of the best ever But I did it with fng. When analyzing it I came to conclusion that I don't won't to use straddle on this one. Not enough clear history of independent movement. It usually comes with other news.
  • #1,400
  • Feb 21, 2015 10:23am Feb 21, 2015 10:23am
hey folks, can the EA manage manual trades?
Scan all 28 Forex pairs with ONE chart... Currency Strength28 Indicators
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