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AmazingEA: Straddle Trading Expert Advisor

  • #101
  • Jun 16, 2015 7:21pm Jun 16, 2015 7:21pm
Alan, could you please please please add the next option to the EA?

When we set SecBMO=0 can you make that the last modification happens on the 1st tick of the news candle, rather than on the last tick of the previous candle?
I think it happens pretty often that there's a gap between the closing of the pre-news candle and the opening of the news candle. I saw it couple times, especially with comodities. For example I had such gap during the latest NZs interest rate cut. If I used AmazingEA instead of the FNG I wouldn't be able to have a good entrance, if at all.

Thanks for the effort that you're investing in this project. It's truly Amazing
  • #102
  • Jun 16, 2015 8:15pm Jun 16, 2015 8:15pm
Quoting Pupsik
Alan, could you please please please add the next option to the EA? When we set SecBMO=0 can you make that the last modification happens on the 1st tick of the news candle, rather than on the last tick of the previous candle? I think it happens pretty often that there's a gap between the closing of the pre-news candle and the opening of the news candle. I saw it couple times, especially with comodities. For example I had such gap during the latest NZs interest rate cut. If I used AmazingEA instead of the FNG I wouldn't be able to have a good entrance,...
Hi Pupsik

I don't really understand your fixation with candles ......

There is no need to modify the EA.....If you really want to do what you ask, you can set SecBMO=-1 or -2.

Alan
  • #103
  • Jun 16, 2015 8:32pm Jun 16, 2015 8:32pm
Quoting Alan111S
For those asking me about Brokers I added a question to the FAQ in the First Post. Tomorrow I will be releasing Version 6 with Timers added so it doesn't wait for Price Ticks to run ......
so its STP broker sir
so hard to search australian one
but i will try sir
thanks,i really appreciate this
  • #104
  • Jun 16, 2015 9:45pm Jun 16, 2015 9:45pm
All

I'm getting so sick of the broker question, I'm going to be really, really blunt.

If you news trade and you expect to be able to trade 2 or more lots as soon as news comes out, watch it shoot 100 pips in 30 seconds and close at the opposite end of the spike, then I'm afraid you are mistaken. It doesn't matter which broker you use. The chances of that happening is remote. You may manage it very occasionally but not trade after trade. Here's why:-

1) The STP brokers pass your trade to the Liquidity Providers, but the LPs will 'Gap' prices, and so will the Broker. Often, this is not the Brokers fault. Traders see this as 'Slippage'. I've experienced more than 60 pips Slippage in the past. One example (GBP GDP) , I had a TP of 80 pips, got slipped 60, the spread was more than 10 and I had 10 pips profit, but the move was actually 150 pips!. Serves me right for using a low TP. But the reason I like STP brokers is 'good' execution. There isn't any manipulation going on.
2) The B-Book or Bucket Shop Brokers have to trade against you. They put all the orders in a bucket and at some point net them off against each other. In the meantime they are mostly hedged, but they trade against the crowd to cover their exposure. The price you get is not necessarily 'real' prices, so for a while you may get good fills. Most of them have 'tricks' to prevent news traders exploiting them. Such as Freezing price feeds temporarily, 'Off quotes' messages and 'Requotes'. There is also a News Trader plug-in that many Bucket Shop Brokers install to slow down the execution around news times, and ensure News Traders encounter 'Slippage'. Some also have 'Clauses' in their Terms and Conditions to stop you withdrawing. Check their published rules regarding Slippage and how they can stop you withdrawing..... Many of them offer 'Incentives' such as Bonuses, Fixed Spreads etc. but this is just another way of 'manipulating'.

To me, the kind of News Trading I now do is based on Price Action. My account leverage is 50:1, but my effective leverage on each trade is less than 3:1. I keep my risk low relative to my account size, mainly using 0.5% per trade.

I also pay for a 'Squawk' service (Talking Forex, if interested) which helps me understand the market reaction to economic news. For example, UK CPI last night was a whipsaw. The short-term selloff happened because although the headline reading was as expected, the Core reading was lower. The market soon shrugged it off. US Building Approvals last night were really very good but mostly Units not Houses, so USD was actually sold off. I didn't trade it but was interested in how it would affect my GBPUSD trade.

Many traders say that News Trading is dead, as the Brokers and the Trading systems have evolved to the point where you can't take advantage of sudden price swings and I believe that is undeniably true. The Banks and the Brokers have removed the 'Risk' that News Traders pose.

However, I also believe that the markets reaction to News is a window on Market Sentiment, which is useful to anyone who is a Price Action Trader.

So please, please, please STOP asking about Brokers. If you are a newbie News Trader looking for the 'Holy Grail' broker, I can't help you. Do your own research, and factor in where you live, your account currency, leverage etc. Most people I know who are still doing this have gone with a reputable broker that doesn't offer any Big Bonus incentives etc. What they get is a fair execution of their trades and the knowledge that they will probably still be around for years to come.
  • #105
  • Jun 17, 2015 2:14am Jun 17, 2015 2:14am
Quoting shreyash
{quote} Dear Alan, Thank you for this wonderful EA! Have been testing this on a live account for the last 1 month with great results! All thanks to you! But, today unfortunately while trading the UK CPI i faced big losses! Orders in both the directions were triggered almost instantly and some trades were triggered at 11:29:58 itself (my broker server time) So, just trying to figure out what went wrong! I am using the following settings please share your valuable inputs on the changes are required: PointsAway=80 PointsGap=2000 ModifyGap=10...
this is where using amazing EA together with FNG helps. with low deviations you don't want, you can set FNG to click a script that closes all trades (live & pending)

As for me i skipped the trade since FNG was down during the news time
  • #106
  • Jun 17, 2015 2:17am Jun 17, 2015 2:17am
Quoting Alan111S
For those asking me about Brokers I added a question to the FAQ in the First Post. Tomorrow I will be releasing Version 6 with Timers added so it doesn't wait for Price Ticks to run ......
really don't get the gist. can you pls explain
  • #107
  • Jun 17, 2015 4:58am Jun 17, 2015 4:58am
Quoting Alan111S
{quote} Hi Pupsik I don't really understand your fixation with candles ...... There is no need to modify the EA.....If you really want to do what you ask, you can set SecBMO=-1 or -2. Alan
You're right And thanks!! AmazingEA has just made me 14 pips on UK's employment change even though it wasn't even tradable this time.
My broker did gap 6 pips at the opening though, so it made the buy stop placed about 15 pips above the Ask (my setting was 20 pips/200 points away).

p.s. With FNG I would not even enter, moreover that it went the "wrong" direction.
  • #108
  • Jun 17, 2015 5:05am Jun 17, 2015 5:05am
Quoting shreyash
{quote} Dear Alan, Thank you for this wonderful EA! Have been testing this on a live account for the last 1 month with great results! All thanks to you! But, today unfortunately while trading the UK CPI i faced big losses! Orders in both the directions were triggered almost instantly and some trades were triggered at 11:29:58 itself (my broker server time) So, just trying to figure out what went wrong! I am using the following settings please share your valuable inputs on the changes are required: PointsAway=80 PointsGap=2000 ModifyGap=10...

Dear Mr Alan,
Your EA is awesome.
I using about one month and the wining result was quite good. Thank you very much.

My case similar to shreyash.
On 16-Jun-2015 UK CPI i encountered big loses.
Orders in both the directions were triggered almost instantly and some trades were triggered. And the worst case was it does not trigger the SL (15) that I set. I do not know what went wrong.

I am using the following settings please share your valuable inputs :
Pairs : GBPUSD
PointsAway=70
PointsGap=2000
ModifyGap=10
TP=2000
SL=15
NYear=2015
NMonth=6
NDay=16
NHour=11
NMin=30
NSec=0
CTCBN=0
SecBPO=50
SecBAO=20
SecBMO=0
STWAN=7
OCO=true
BEPoints=0
BEOffset=0
TrailPoints=200
TrailOffset=800
TrailImmediate=false
MM=false
RiskPercent=5.0
Lots=0.5
MaxSpread=150
AddSpreadToSL=false
SlipCheck=true
MaxSlippage=20
AllowBuys=true
AllowSells=true
UseBrokerTime=true
DeleteOnShutdown=true
Attached File(s)
File Type: zip AmazingEA-Ticks-GBPUSD-2015-06-16.zip   111 KB | 518 downloads
  • #109
  • Jun 17, 2015 7:09am Jun 17, 2015 7:09am
i dont know what happened to my broker
my order cancelled two second after EA put Pending order
is there anyone know why?
this is often happened, i didnt know why
EA put order
and my order cancelled by itself before news release
  • #110
  • Jun 17, 2015 7:17am Jun 17, 2015 7:17am
Quoting Pupsik
{quote} You're right And thanks!! AmazingEA has just made me 14 pips on UK's employment change even though it wasn't even tradable this time. My broker did gap 6 pips at the opening though, so it made the buy stop placed about 15 pips above the Ask (my setting was 20 pips/200 points away). p.s. With FNG I would not even enter, moreover that it went the "wrong" direction.
Not really a good idea to use FNG when you have so many releases at the same time, Amazing EA works better for this. It wasn't in the wrong direction the ave earning index was a positive reading and the minutes were also positive therefore GBP got stronger
'Stability breeds Instability' Hyman Minsky
  • #111
  • Jun 17, 2015 7:22am Jun 17, 2015 7:22am
AmazingEA Version 6 Released

16-June-2015
Version 6.00 Modified by Alan Prothero
New: Minimum Requirement MT4 Build 600 or MT5
New: OnTimer Events Capability allowing EA to function without Ticks
Modified: Minor changes to Logging File Layouts

This new version can't run on MT4 older than Build 600. It uses a newish feature in MT4 to run every 50ms as well as when Price Ticks arrive. Which means that if the Broker freezes the Price Feed the EA will still be able to check the Time for SecBPO, SecBMO etc. You should notice the EA creating, modifying and deleting orders in a more timely fashion.

I advise every user to move to this new version to avoid one of the major issues with the old one. A lack of price ticks could mean the EA may skip performing actions on time. In some cases this would mean that orders weren't moved into position etc.

Please download it from the first post.

Alan
  • #112
  • Jun 17, 2015 7:31am Jun 17, 2015 7:31am
Quoting xDivine
i dont know what happened to my broker my order cancelled two second after EA put Pending order is there anyone know why? this is often happened, i didnt know why EA put order and my order cancelled by itself before news release
You probably have MaxSpread set too low, which would cancel your orders. Set MaxSpead to 0 and this won't happen.
  • #113
  • Edited 7:49am Jun 17, 2015 7:36am | Edited 7:49am
Quoting zeromax2u
{quote} Dear Mr Alan, Your EA is awesome. I using about one month and the wining result was quite good. Thank you very much. My case similar to shreyash. On 16-Jun-2015 UK CPI i encountered big loses. Orders in both the directions were triggered almost instantly and some trades were triggered. And the worst case was it does not trigger the SL (15) that I set. I do not know what went wrong. I am using the following settings please share your valuable inputs : Pairs : GBPUSD PointsAway=70 PointsGap=2000 ModifyGap=10 TP=2000 SL=15 NYear=2015 NMonth=6...
Your broker is one of those that gives Off Quotes, Invalid Price error messages instead of actually closing your trade. Your Stop Loss is set to 1.5 pips and MaxSlippage is set to 2 pips. Both of these are far too low. Minimum SL should be at least 10 pips which would mean setting 100. On a 5 digit broker you need to multiply the number of pips x10 to make Points which is what the Settings use.
  • #114
  • Jun 17, 2015 8:40am Jun 17, 2015 8:40am
Quoting Alan111S
{quote} You probably have MaxSpread set too low, which would cancel your orders. Set MaxSpead to 0 and this won't happen.
oh i thought its better,
it means the spread has widened before news release
it would made me so safe
  • #115
  • Jun 17, 2015 12:34pm Jun 17, 2015 12:34pm
Quoting johan4292
hello Alan, caould u please make this news ea? I ve been using this ea for month.. this is good ea for news...but it didnt work anymore since mt4 updated.. and unfortunatelly i dont hve the .mql file. the ea will open buy and sell at the same time 5 minutes before news and place stop loss 5 pips.. ea will automatically change the stop lose if price going up or down.... until news time release... when news release the SL stop changing ... so the price hit SL after news release (buy/sell will hit SL but the other still going profit until hit TP or...
Take a look decompiled EA:
Attached File(s)
File Type: mq4 hedging_news_gh.mq4   9 KB | 461 downloads
  • #116
  • Jun 17, 2015 6:54pm Jun 17, 2015 6:54pm
Quoting xDivine
{quote} oh i thought its better, it means the spread has widened before news release it would made me so safe
OK in that case set MaxSpread to what you are ok with. So if 15 pips spread is too much set MaxSpread=150. You can look in the logfiles to see if the orders were cancelled due to high spread

Also, it only works if the spread spikes before the orders go live......
  • #117
  • Jun 17, 2015 9:58pm Jun 17, 2015 9:58pm
hi allan, this version is work for me it place pending order but 3 second after all pending order deleted... what happened?
  • #118
  • Jun 17, 2015 10:21pm Jun 17, 2015 10:21pm
Quoting johan4292
hi allan, this version is work for me it place pending order but 3 second after all pending order deleted... what happened?
I changed some of the default settings STWAN is now 5 (used to be 30). The defaults are now set to be as low risk as possible, but can be changed.
  • #119
  • Jun 17, 2015 10:25pm Jun 17, 2015 10:25pm
you re right for very big news i should use stwan 5.. thanks alan i see how it work now...
  • #120
  • Jun 18, 2015 3:59am Jun 18, 2015 3:59am
GBP Core Retail 18-Jun-2015

Had a bad day with this one, even with a good deviation

Entry Slip: 15.9 pips

SL Used: 30 pips
Exit Slip: 12.5 pips
Loss: 42.5 pips
Attached Image (click to enlarge)
Click to Enlarge Name: GBP Core Retail 18-Jun-2015.PNG Size: 6 KB
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