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How to trade NFP/FOMC and make pips

  • #281
  • Jun 3, 2015 9:47am Jun 3, 2015 9:47am
Quoting MathTrader7
{quote} So far the worst DD was 27%.

damn risky... using 1k .1lot?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #282
  • Jun 3, 2015 10:06am Jun 3, 2015 10:06am
Quoting MathTrader7
{quote} It may blow up a live account, so we are testing the strategy (and the EA) on demo accounts at the moment.
that's why, i tried it on my micro account, nothings happen.. thanks
  • #283
  • Jun 3, 2015 10:10am Jun 3, 2015 10:10am
Here is Version 1.35 of the EA that fixes a few minor bugs. In this version, first the market orders are closed and then pending orders.
Attached File(s)
File Type: ex4 MathTrader7_NFP_Hedge_EA.ex4   138 KB | 438 downloads
Trading is the hardest way to make easy money...
  • #284
  • Jun 3, 2015 10:12am Jun 3, 2015 10:12am
Quoting Soros
{quote} damn risky... using 1k .1lot?
Yes, 1K account with 0.1 lot size. It is for sure risky!
Trading is the hardest way to make easy money...
  • #285
  • Edited 10:34am Jun 3, 2015 10:22am | Edited 10:34am
Quoting chucrut
{quote} Sorry for my english, try to explain. We open a buy basket, in the pairs that go south when the double sized pending order get triggered (sell in this case) why not close the original buy order and let go only the new one? Just thinking if the basket would filled early.
What if market reversed from there ? It already happened to me

we may loose at least 100 pips, and our target with the second orders has to include this lost 100 pips so it will very difficult
  • #286
  • Jun 3, 2015 10:29am Jun 3, 2015 10:29am
Quoting MathTrader7
{quote} Yes, 1K account with 0.1 lot size. It is for sure risky!

were you trading news?
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #287
  • Jun 3, 2015 10:36am Jun 3, 2015 10:36am
Quoting Soros
{quote} were you trading news?
No, just testing by entering the market randomly.
Trading is the hardest way to make easy money...
  • #288
  • Jun 3, 2015 10:45am Jun 3, 2015 10:45am
Quoting MathTrader7
{quote} No, just testing by entering the market randomly.

oh thats why
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #289
  • Jun 3, 2015 10:51am Jun 3, 2015 10:51am
Quoting MathTrader7
I opened two baskets Buy and Sell 4 minutes before ISM news at the same time, on the same demo account with different magic numbers. Both baskets closed in profit: {image}
Very interesting Math
You had opened both at the same time and both are winners.
It's the proof than before news we can try buy and sell.
However I have a doubt about a random use.
  • #290
  • Jun 3, 2015 11:14am Jun 3, 2015 11:14am
Quoting madscalp
{quote} Very interesting Math You had opened both at the same time and both are winners. It's the proof than before news we can try buy and sell. However I have a doubt about a random use.
Don't deviate from major USD news NFP/FOMC , they are the biggest market movers. If you are trying on other news use micro lots to make low risk pips. good luck!
Scoobi doobi doo
  • #291
  • Jun 3, 2015 11:35am Jun 3, 2015 11:35am
I'm guessing this strategy goes against US FIFO rules?
The better looser you are the better winner you are
  • #292
  • Jun 3, 2015 11:54am Jun 3, 2015 11:54am
Quoting Scoobidoobi
{quote} Don't deviate from major USD news NFP/FOMC , they are the biggest market movers. If you are trying on other news use micro lots to make low risk pips. good luck!
I agree.
It's a good strategy only before news.
  • #293
  • Jun 3, 2015 12:00pm Jun 3, 2015 12:00pm
I'm looking for a board on my chart to visualize the NFP news according with my broker time (FXCM).
Many thx.
  • #294
  • Jun 3, 2015 2:40pm Jun 3, 2015 2:40pm
Quoting techlover
{quote} What if market reversed from there ? It already happened to me we may loose at least 100 pips, and our target with the second orders has to include this lost 100 pips so it will very difficult
I thought that on what i saw during the news (only 2 times right now, have to test more). I put at lower distance the pending orders (20 pips) and it filled the basket quickly.
With a reduced distance and during very high impact news at the time it reverse i hope my basket will be already close, but maybe you are right, i have to test more. And we have to remember that is totally different trying this demo o real.

And writing this i had this crazy idea: if market reverse, where was the original order we will put a new double sized pending order. I try to explain better. We buy 0.1, it go south and trigger the pending sell of 0.2 and close the buy, then reverse and where was the original buy it will be a 0.04 new buy pending order. I think that soon or later the basket will be filled. Have to check the DD. Just an idea. Something like martigale. What do you think?
  • #295
  • Edited 3:22pm Jun 3, 2015 3:08pm | Edited 3:22pm
Random test, one side at a time with direction decision by eyes, all closed in profit ... nice Thanks for sharing.
RS

Attached Image (click to enlarge)
Click to Enlarge Name: 2015-06-04 05_00_53-120019615_ FXOpen-ECN Demo Server - Demo Account - USDCAD,M1.png Size: 49 KB
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-06-04 05_02_11-120019615_ FXOpen-ECN Demo Server - Demo Account - USDCAD,M1.png Size: 155 KB
  • #296
  • Jun 4, 2015 2:46am Jun 4, 2015 2:46am
e.g.
Quoting MathTrader7
Here is Version 1.35 of the EA that fixes a few minor bugs. In this version, first the market orders are closed and then pending orders. {file}
Thanks MT7 - appreciate you sharing your coding with us.
I would like to suggest an added selection option.
in post 1 the strategy rules was set to trade USD-X. and your code does that.
But these trades/testers have been using the same rules on other news/currencies.

Will it be posable to add the 4 mayor currency crosses. you can then create an "case" statement for the different currencies.
e.g. case selection option
1 - USD-x
2 - GBP-x
3 - EUR-x
4 - AUD-x

the trader then select the currency that will be impacted by the news.
the EA will open the 6 trades for the currency as in the rules of post1

when it NFP - the trades select USD-x, when its AUD CPI you select AUD-X

or the other option is the let the trades manualy enter the 3 currency to sell and the 3 currencies to buy.
e.g. Sell-input: (AUDUSD,EURUSD,GBPUSD) or (EURUSD,EURAUD,EURJPY)
Buy-input: (USDCAD,USDCHF,USDJPY) or (EURCAD,EURNZD,EURCHF)

Hope it make sense.
Regards
Leon
  • #297
  • Jun 4, 2015 2:49am Jun 4, 2015 2:49am
Quoting chucrut
{quote} I thought that on what i saw during the news (only 2 times right now, have to test more). I put at lower distance the pending orders (20 pips) and it filled the basket quickly. With a reduced distance and during very high impact news at the time it reverse i hope my basket will be already close, but maybe you are right, i have to test more. And we have to remember that is totally different trying this demo o real. And writing this i had this crazy idea: if market reverse, where was the original order we will put a new double sized pending...

Hmm yeah thats a good idea but have to test it practically
  • #298
  • Edited 11:03am Jun 4, 2015 5:11am | Edited 11:03am
Quoting vanwyklm
e.g.{quote} Thanks MT7 - appreciate you sharing your coding with us. I would like to suggest an added selection option. in post 1 the strategy rules was set to trade USD-X. and your code does that. But these trades/testers have been using the same rules on other news/currencies. Will it be posable to add the 4 mayor currency crosses. you can then create an "case" statement for the different currencies. e.g. case selection option 1 - USD-x 2 - GBP-x 3 - EUR-x 4 - AUD-x the trader then select the currency that will be impacted by the news. the EA...
Good idea but first let's see how the strategy works for NFP/FOMC news.
Trading is the hardest way to make easy money...
  • #299
  • Jun 4, 2015 5:56am Jun 4, 2015 5:56am
Quoting techlover
{quote} Hmm yeah thats a good idea but have to test it practically
I would like to ask to math if he could implement this feature so we can test it.
I thought this also: every time a pending order get triggered where was the opposite order will appear a new opposite and double sized pending order. I think in this way we can try also to operate the moments of strenght or weakness of the currency and not only news, or try to put it randomly on the market to see how it work. I think that the market wont stay in a range of 200 or 300 points forever (the distance between the original orders), soon or later the basket will be filled.

For example:
1 - At price X open buy of Z lots
2 - At price X - Y pips put pending sell of 2xZ lots
if 2 get triggered:
3 - At price X put pending buy of 4xZ lots
if 3 get triggered:
4 - At price X - Y pips put pending sell of 8xZ lots4
and so on...
And i thought that maybe is better don't close the trade when the opposite pending get triggered because if the new one reverse, the first could balance a little.
Just my thoughts. Waiting for opinions, and for tomorrow NFP.
  • #300
  • Jun 4, 2015 8:56am Jun 4, 2015 8:56am
This afternoon ( for me in France) both baskets buy and sell winners 2 x 20 $ = 40 $
We have a good system before news ...thx scoobidoo.
just a question: why the pending orders are at 30 pips ? any important reason ?
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