How to trade NFP/FOMC and make pips | Page 16 | Forex Factory

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Attachments: How to trade NFP/FOMC and make pips
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How to trade NFP/FOMC and make pips

  • #301
  • Jun 4, 2015 9:56am Jun 4, 2015 9:56am
Quoting madscalp
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 ?
To avoid whipsaws if you keep it so close, market might hit and reverse hence the reason madscalp
Scoobi doobi doo
  • #302
  • Jun 4, 2015 10:31am Jun 4, 2015 10:31am
I understand the principle but why especially 30 pips ?
It's your experience ?
  • #303
  • Jun 4, 2015 10:33am Jun 4, 2015 10:33am
Today I opened a Sell basket 5 minutes before Unemployment Claims news, and the basket closed in profit (target 50 USD):
Attached Image (click to enlarge)
Click to Enlarge Name: 2015-06-04.png Size: 32 KB
Trading is the hardest way to make easy money...
  • #304
  • Jun 4, 2015 10:36am Jun 4, 2015 10:36am
Quoting MathTrader7
Today I opened a Sell basket 5 minutes before Unemployment Claims news, and the basket closed in profit: {image}
The same here. Waiting for tomorrow!
  • #305
  • Jun 4, 2015 10:39am Jun 4, 2015 10:39am
Quoting MathTrader7
Today I opened a Sell basket 5 minutes before Unemployment Claims news, and the basket closed in profit (target 50 USD): {image}
and the buy basket too
  • #306
  • Jun 4, 2015 10:48am Jun 4, 2015 10:48am
However I don't like the idea to open 2 baskets at the same time because we pay two times spread and commissions.
We have to create 2 groups the buyers and the sellers and see after 2-3 weeks if a basket is better than other
  • #307
  • Jun 4, 2015 11:05am Jun 4, 2015 11:05am
Quoting chucrut
{quote} 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...
What you suggest is just to do Martingale. The strategy itself is risky, so let's not adding more risk to it at the moment.
Trading is the hardest way to make easy money...
  • #308
  • Jun 4, 2015 12:30pm Jun 4, 2015 12:30pm
Quoting MathTrader7
{quote} I use IC Markets, demo account with no problem.
Thank you. I have the IC platform and still the EA does not open trades. How do use the EA at anytime?
  • #309
  • Jun 4, 2015 12:32pm Jun 4, 2015 12:32pm
Quoting aelimian
{quote} Thank you. I have the IC platform and still the EA does not open trades. How do use the EA at anytime?

This is not Auto Ea , you have to trade manually

to open buy basket press Fire Buy

to open sell basket press Fire sell
  • #310
  • Jun 4, 2015 2:57pm Jun 4, 2015 2:57pm
tomorow NFP and FOMC, gona go live due to the volitility of both releases.
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #311
  • Jun 4, 2015 4:29pm Jun 4, 2015 4:29pm
Would be nice to have an optional function to fire buy and sell trades by a timer, e.g. 5 min before news, set by trader manually. RS
  • #312
  • Edited 2:13am Jun 5, 2015 1:19am | Edited 2:13am
Attachment
hi there.

great post and idea. really glad i spot this thread in time. NFP today soon.
I tried to open 3 pairs Short USD XXX and 3 pair Short XXX USD as explain in the thread, all done. and open 6 set of Buystop with double the position size earlier. OK all done. EA put onto chart... And i made sure everything is ticked, Allow live trade bla bla, but i see nothing happened ? The EA doesnt close trades or do anything ... Autotrading button in MT4 is press on as well.

When i press FireSell or Firebuy nothing happen , as well as Close Basket.
Question : What is the button function of FireBuy and FireSell and Close Basket? it suppose to close all trades rite?
can someone explain ? are there anything i miss or skip doing ? thank you so much !!
Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot4.png Size: 20 KB

in the end i manually close all the trades, and it was in profit ! , buystop triggered.
  • #313
  • Jun 5, 2015 2:17am Jun 5, 2015 2:17am
Quoting mercilez
1689389 hi there. great post and idea. really glad i spot this thread in time. NFP today soon. I tried to open 3 pairs Short USD XXX and 3 pair Short XXX USD as explain in the thread, all done. and open 6 set of Buystop with double the position size earlier. OK all done. EA put onto chart... And i made sure everything is ticked, Allow live trade bla bla, but i see nothing happened ? The EA doesnt close trades or do anything ... Autotrading button in MT4 is press on as well. When i press FireSell or Firebuy nothing happen , as well as Close Basket....
You attach the EA to a chart, a few minutes before NFP news release you click on either Fire Buy! or Fire Sell!, the EA executes the strategy.
Note: The EA only works on demo accounts at the moment.
Trading is the hardest way to make easy money...
  • #314
  • Jun 5, 2015 2:29am Jun 5, 2015 2:29am
only works when near NFP data? ok...

i guess now only manual trades for NFP then. Do you cancel the pending order after the nfp data comes out? or keep it open ?
  • #315
  • Jun 5, 2015 3:17am Jun 5, 2015 3:17am
Quoting MathTrader7
{quote} You attach the EA to a chart, a few minutes before NFP news release you click on either Fire Buy! or Fire Sell!, the EA executes the strategy. Note: The EA only works on demo accounts at the moment.
please make it work live acc!! wana trade NFP today!
I am what Many Dream to be but only a few can achieve, im a part of the 1%
  • #316
  • Jun 5, 2015 4:33am Jun 5, 2015 4:33am
Here is Version 1.40 of the EA that trades on Live accounts.
Attached File(s)
File Type: ex4 MathTrader7_NFP_Hedge_EA.ex4   138 KB | 575 downloads

Note: The EA has not been fully tested yet, so there may be some bugs that cause your account blow up. USE IT AT YOUR OWN RISK, I DO NOT TAKE ANY RESPONSIBILITY.
Trading is the hardest way to make easy money...
  • #317
  • Jun 5, 2015 5:17am Jun 5, 2015 5:17am
Quoting MathTrader7
Here is Version 1.40 of the EA that trades on Live accounts. {file} Note: The EA has not been fully tested yet, so there may be some bugs that cause your account blow up. USE IT AT YOUR OWN RISK, I DO NOT TAKE ANY RESPONSIBILITY.
MathTrader - live accounts only? Or will this work on demo and live? Is it the same as the earlier version except for that?
  • #318
  • Jun 5, 2015 5:22am Jun 5, 2015 5:22am
Quoting blueruby
{quote} MathTrader - live accounts only? Or will this work on demo and live? Is it the same as the earlier version except for that?
Works on both Demo and Live accounts. I fixed a few minor bugs in this version as well.
Trading is the hardest way to make easy money...
  • #319
  • Jun 5, 2015 5:28am Jun 5, 2015 5:28am
Thanks. Also, a set of instructions would be good. I'm scrolling through the 16 pages and not really finding out everything I want to know.

Correct me where I'm wrong:

Attach to any chart.
7 minutes before the news, hit the "Fire BUY" button.
EA places 6 buys, and 6 pending sells 30 pips away, on the pairs described in Post 1 of this thread.
When you have 10 dollars profit (if original settings were left intact), it closes all open and pending orders (basket close).
20 minutes after the news, if profit target is not hit, all open and pending orders are closed.
Stops need to be set and adjusted manually or with a different EA.
At any time, user can hit "Close Basket" and all open and pending orders which were opened by this EA will be closed.

Is that it?
  • #320
  • Jun 5, 2015 5:31am Jun 5, 2015 5:31am
Quoting blueruby
Thanks. Also, a set of instructions would be good. I'm scrolling through the 16 pages and not really finding out everything I want to know. Correct me where I'm wrong: Attach to any chart. 7 minutes before the news, hit the "Fire BUY" button. EA places 6 buys, 6 pending sells, on the pairs described in Post 1 of this thread. When you have 10 dollars profit (if original settings were left intact), it closes all open and pending orders (basket close). 20 minutes after the news, if profit target is not hit, all open and pending orders are closed. Stops...
That's right! However, the EA doesn't close the basket after 20 minutes. The user must close the basket whenever he/she thinks that there is no point of keeping the basket open. Also, the EA will not set any stop loss for the orders, the stop loss of the initial orders are the pending orders in fact.
Trading is the hardest way to make easy money...
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