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Straddle trading EA

  • #1,541
  • May 10, 2015 7:29am May 10, 2015 7:29am
well i did read the thread matter of fact, thats why im asking these questions
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #1,542
  • May 11, 2015 6:58am May 11, 2015 6:58am
I just received a PM asking about running AmazingEA on indices with 1 decimal place. I thought I'd post my reply:-

AmazingEA shouldn't need any modification to make it run. The code uses Point() everywhere. It's just the default settings that mess it up as they assume a 5 digit instrument.

OK, I tried it on FT100 which is 2 decimal places. The default for MaxSpread is 60 so I just set that to 0 as that was disabling the EA as the normal spread on FT100 is 150. Because I had to try it on Live I switched off AllowLiveTrading (or set AllowBuys and AllowSells to False). Or just make sure the current time and News Time are way different. I don't have indices on my Demo account.

Once you have the display up and running you can work out the distances for PointsAway and SL/TP etc.

I'm going to copy this to the forum as it might be interesting for others....

Attached Image
  • #1,543
  • May 11, 2015 7:31am May 11, 2015 7:31am
Quoting Soros
well i did read the thread matter of fact, thats why im asking these questions
Welcome to the thread, Soros. If you read the whole thread, you may have noticed that everybody trades with it differently. Some with more success than others. It can only help get a trade live at the exact time news hits the market. Some trades will experience bad slippage if there's no liquidity. So it's important to pick your trades carefully and manage your risk. Many traders try to trade just the news spike but I find that to make any money that way you have to risk huge losses.

Personally I now use it with wider SL and TP than I ever did before. I also keep the opposite trade for an hour after the News in case of a reversal. If the news isn't market moving I'll aim to close for Break Even if possible. On big deviations, my aim is to make at least more than 3R, and I combine it with some other trading information to ride a trend for upto 10R.

But although I have added extra features, I have tried to stick to the original concept.

Historically, Straddle Trading was very successful over 5 years ago - so much so that brokers learnt and invoked many tricks to get out of paying out. Metaquotes created a Virtual Dealer plug-in to slow down news trades and invoke slippage. Some guys here try to use the Market Makers but they will often delay orders, freeze platforms or just refuse withdrawals.

The safer option is to use a reputable STP broker and be careful out there ! I think it's better to use it to enhance your own strategy.....

Alan
  • #1,544
  • May 11, 2015 8:08am May 11, 2015 8:08am
Quoting Alan111S
{quote} Welcome to the thread, Soros. If you read the whole thread, you may have noticed that everybody trades with it differently. Some with more success than others. It can only help get a trade live at the exact time news hits the market. Some trades will experience bad slippage if there's no liquidity. So it's important to pick your trades carefully and manage your risk. Many traders try to trade just the news spike but I find that to make any money that way you have to risk huge losses. Personally I now use it with wider SL and TP than I ever...

I have alocated a very good and honest stp broker that will not do any tricks on my trading, what method of trading the EA would you recomend for me?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #1,545
  • May 11, 2015 10:33am May 11, 2015 10:33am
Alan,

When u say keep the opposite trade open for 1hr. Do you mean keeping yr pending order open for both without cancellation? Sorry for being a noob, what do u mean by 3R and 10R?

Personally I have been using it on big news like NFP. But recently, it is pretty bad. Especially the recent one which was release 10 sec earlier. Killed me badly.
  • #1,546
  • May 11, 2015 6:38pm May 11, 2015 6:38pm
Quoting Soros
{quote} I have alocated a very good and honest stp broker that will not do any tricks on my trading, what method of trading the EA would you recomend for me?
OK this is not your usual Set and Forget EA. The setup for each event is manual and you have to make many decisions yourself like:-

How far away to place your Pending Orders, SL and TP.?
Should one trade in both directions?
How much should be risked?
What if the news is as expected?

News Trading is based on the idea that Economic Events increase or decrease the value of a currency vs another one. But how much is already priced in affects the trade and market sentiment also plays a huge part in this.

So the setup for each trade can't be done based on a formula.

The best way to get familiar with it is to setup some trades on Demo. I recommend using major currency pairs initially and switch off anything you haven't learnt yet like what MaxSpread does.

Alan
  • #1,547
  • May 11, 2015 6:43pm May 11, 2015 6:43pm
Quoting Olalala
Alan, When u say keep the opposite trade open for 1hr. Do you mean keeping yr pending order open for both without cancellation? Sorry for being a noob, what do u mean by 3R and 10R? Personally I have been using it on big news like NFP. But recently, it is pretty bad. Especially the recent one which was release 10 sec earlier. Killed me badly.
Yes, keeping the opposite trade open for an hour. Some of the best trades are news events followed by a reversal (NFP is famous for the V-shaped reversal)

3R refers to making 3 times profit vs the amount you risked. Most traders won't enter a trade unless there is a potential for at least 2R profit.
  • #1,548
  • May 11, 2015 9:46pm May 11, 2015 9:46pm
Yes I do notice such reversal at times. By the way, have you ever tried coding a version of this EA on other platform? Like currenex? probably they don't allow plugin like what MT4 does?
  • #1,549
  • May 13, 2015 4:33pm May 13, 2015 4:33pm
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  • #1,550
  • May 18, 2015 10:54am May 18, 2015 10:54am
Is there any chance to make this EA automatical to take data from news indicator or something like that??
  • #1,551
  • May 19, 2015 2:37am May 19, 2015 2:37am
Quoting vladik939
Is there any chance to make this EA automatical to take data from news indicator or something like that??
That will be awesome.
  • #1,552
  • May 19, 2015 2:52am May 19, 2015 2:52am
I have this indicator that have in buffer minutes before the news apear but it have some problemes (don't show all the time) . I tryed to make it by myself but something is going wrong(sometime is show minutes but sometime no).
Attached File(s)
File Type: mq4 CalendarFX-I-A12.mq4   77 KB | 472 downloads
  • #1,553
  • May 19, 2015 2:58am May 19, 2015 2:58am
Quoting Surgefx
{quote} That will be awesome.
And EA supposed to select the major currency pairs.
  • #1,554
  • May 19, 2015 3:57am May 19, 2015 3:57am
Quoting plexyroad
{quote} And EA supposed to select the major currency pairs.
Better if the currency pairs it selects can be preset for each news .
  • #1,555
  • May 19, 2015 6:37am May 19, 2015 6:37am
Quoting Alan111S
I just received a PM asking about running AmazingEA on indices with 1 decimal place. I thought I'd post my reply:- AmazingEA shouldn't need any modification to make it run. The code uses Point() everywhere. It's just the default settings that mess it up as they assume a 5 digit instrument. OK, I tried it on FT100 which is 2 decimal places. The default for MaxSpread is 60 so I just set that to 0 as that was disabling the EA as the normal spread on FT100 is 150. Because I had to try it on Live I switched off AllowLiveTrading (or set AllowBuys and...
Hi Allan. Thanks again for such a wonderful system.

My question relates to the Points Away, Points Gap and Modify Gap. On my terminal, whenever I use the default 80, 2000 and 10 settings, it seems to set my trades at over 200pips away from the price. If I want that to be, lets say, 10 pips, shouldnt it be 100, 10, 10 respectively?

Thanks.
  • #1,556
  • May 19, 2015 7:51am May 19, 2015 7:51am
Hi Branac and Alan,
I just found this thread this day. Great job, mates. I really appreciate for your effort to make this amazing ea. I had been looking for this kind of ea. Here my result from USD news a few moments ago, Building Permits. Real/live acc. I put it on GBPUSD. But when I put it on several pairs, the ea only opened 1 position. What I miss?

Quoting Surgefx
{quote} That will be awesome.
Totally agree
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MAKE SURE you still can TRADE tomorrow
  • #1,557
  • May 19, 2015 9:13pm May 19, 2015 9:13pm
Quoting vladik939
Is there any chance to make this EA automatical to take data from news indicator or something like that??
I do have an old version that does that but it doesn't work - I could get it working but with a lot of effort. It uses the DailyFX calendar and some other routines.

It connects to the internet to download calendar data once per week. I think it could be good if one could also apply a filter that tells it to pick certain news events and ignore others. It would also need a preferred currency pair list for each event and whether to trade both ways or not. You can see how already its' getting more and more complex.

Personally I pick the best 2 or 3 events of the week and set the EA manually. Right now, I prefer it that way.
  • #1,558
  • May 19, 2015 9:24pm May 19, 2015 9:24pm
Quoting dcblair
{quote} Hi Allan. Thanks again for such a wonderful system. My question relates to the Points Away, Points Gap and Modify Gap. On my terminal, whenever I use the default 80, 2000 and 10 settings, it seems to set my trades at over 200pips away from the price. If I want that to be, lets say, 10 pips, shouldnt it be 100, 10, 10 respectively? Thanks.
The idea of PointsGap is to open trades 200 pips away at SecBPO seconds before the news and move them into the correct position (8 pips away) according to SecBAO seconds before the news. Trades get modified until SecBMO seconds before.

If you don't want to use this feature set PointsGap=0 or SecBAO=SecBMO or SecBAO=0. Any of those will disable it.

ModifyGap tells the EA to only modify if price moves more than 1 pip i.e it stops unnecessary small changes so the EA is ready for bigger price changes.....

If the trades aren't moved you might be setting SecBAO too low.....minimum is a value of 5 seconds higher than SecBMO.

The last possibility is your broker is playing tricks.....some brokers 'freeze' just before news events. If they don't send any prices (ticks) then the EA can't function and it messes up the timers too.

If you need me to check it more carefully you can send me your logs and ticks files via PM

Alan
  • #1,559
  • May 19, 2015 9:43pm May 19, 2015 9:43pm
Quoting senanata
Hi Branac and Alan, I just found this thread this day. Great job, mates. I really appreciate for your effort to make this amazing ea. I had been looking for this kind of ea. Here my result from USD news a few moments ago, Building Permits. Real/live acc. I put it on GBPUSD. But when I put it on several pairs, the ea only opened 1 position. What I miss? {quote} Totally agree {image} {image} {image}
Are you using the Brokers Clock? UseBrokerTime=True ? If so, maybe your brokers time is wrong. If not, your PC time is wrong. The trades deleted about 6-7 seconds after 15:30 so if your clock is 10 seconds wrong, you'd miss the move.

Alan
  • #1,560
  • May 19, 2015 10:15pm May 19, 2015 10:15pm
Quoting Alan111S
{quote} The idea of PointsGap is to open trades 200 pips away at SecBPO seconds before the news and move them into the correct position (8 pips away) according to SecBAO seconds before the news. Trades get modified until SecBMO seconds before. If you don't want to use this feature set PointsGap=0 or SecBAO=SecBMO or SecBAO=0. Any of those will disable it. ModifyGap tells the EA to only modify if price moves more than 1 pip i.e it stops unnecessary small changes so the EA is ready for bigger price changes..... If the trades aren't moved you might...
Thanks for the clarification. I do believe that my broker, forex.com, is doing what you say.
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