The Way - news trading system

This is what makes 10% per week
ENTRY:
An EA to place pending 10 pips at selected news time on two different pairs of the sympol to be traded.
News to be traded - no EUR news. Confirm spiky news from last 4 instance of the news using cashbackforex.com economic news analyser.

MM -
Three pairs each 1.5 % risk for other news and 2% risk for the special ones (NFP, employemnt and rate news).
No stoploss but Auto loss recovery by placing counter pending order 23 pips from entry of the news trade.
Close the auto loss recovery trade when its profit equals the loss of the news trade for non special news
For special news close auto loss recovery trade for profit of 15 pips
Take profit at next fib levels after x,y,z pips after entry.
10 pips breakeven for other news except NFP, employemnt and rate news
Trailing stop with Levelstop indy- close half position after close of 1 Min candle above/below levelstop indy
Re-entry/Additional entry for the special ones using PA retracing or pullback to the middle bollinger and back above/below BB Upper band.
Exit :
Using 1SSRC or Vertex indi
- Surgyfx is my ea that attemopts to do EA is welcome.

am i the only one who don't get what he's trying to say ?

I dont follow either.

Is that a kind of straddle, can you explain more?

Could you give us an trading example

For a given news e.g the us trade balance first go to cashback forex and analyse if this news gave a spike for the past 4 releases . Then yes straddle with 10 pips, when one is hit move the other to 23 pips from the entered one with lotsize double of the the original trade etc. The cad and us trade balance was profitable executing this strategy anyway on EURCAD, XAUUSD, CADJPY, and GBPUSD. Be wary of usdcad given that both symbols has news at same time so the pair will always likely flunctuate

Basically he is saying to trade either side of the news.

If it goes up, you take your profit.

If it goes down, you have a pending order to short and close your order once the short makes back your initial loss.

That's how I understand it anyway...

What I don't understand is the relationship with the indicator you use

The indicators are for exit and trialing stop.