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Red News Hedge Trading + EA

  • #21
  • Nov 13, 2015 9:13am Nov 13, 2015 9:13am
Quoting techlover
{quote} Why cant it be Auto trading , we can set small profit and use for scalping leave the trader to chose the option of Buy/sell or Sell /Sell
To automate it, the question is what would be the entry logic? When to enter? There must be a logic behind it. I don't think randomly opening hedge positions would be profitable in long run....
Trading is the hardest way to make easy money...
  • #22
  • Edited 11:48am Nov 13, 2015 9:30am | Edited 11:48am
Interesting strategy,mt7.
Although my broker is not allowed EA.But I tested manually this strategy.I used it with the last NEWS：Prelim UoM Consumer Sentiment.Good results.
But I still have a doubt.I think the two symbols the fluctuation is not the same.We can win may also lose.This depends on whether we choose to buy or sell.And we need to stoploss?How to takeprofit?
Attached Image (click to enlarge)
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  • #23
  • Nov 13, 2015 11:25am Nov 13, 2015 11:25am
Im unable to open the file, i copy and paste across to MQL4 from my download folder but nothing adding to the chart
  • #24
  • Nov 13, 2015 11:55am Nov 13, 2015 11:55am
Quoting Stevefluff
Im unable to open the file, i copy and paste across to MQL4 from my download folder but nothing adding to the chart
In Post 1, I added a link to a youtube video that shows how to install any EA on MetaTrader 4 platform.
Trading is the hardest way to make easy money...
  • #25
  • Nov 13, 2015 11:56am Nov 13, 2015 11:56am
Thanks MathTrader 7 you`re a star
  • #26
  • Nov 13, 2015 1:22pm Nov 13, 2015 1:22pm
Quoting budidharma19
Dear MathTrader, Thanks for the EA,... truly I need the clear tutorial when to apply BUY/SELL , SELL/BUY, SELL/SELL or BUY/BUY,.... May be you have better clear hints how to determine that operation. Looking forward to have answer from you,... Thanks, Budi
I wonder about the same criterias?
  • #27
  • Nov 14, 2015 8:37pm Nov 14, 2015 8:37pm
I'd like to add a URL which may help this strategy:

http://fxtrade.oanda.com/analysis/currency-correlation

It's OANDA free currency correlation tables.

=========================================

MathTrader7,

Thank you for the EA. Very interesting. I'll try it when the market resumes.

I have one quick question.

In your post, you mentioned that opening the positions before the new just a couple of seconds. Generally, I think opening positions during the time will lead us to face the widen spreads which may (?) affect the spreads.

1.) Have you ever experienced a case when widen spreads ruined the setup?
2.) Have you tried opening the positions like 5 minutes before the news? If yes, did the position work as well as the one that opened just a few seconds before the news announcement?

K-Mun
  • #28
  • Nov 15, 2015 2:48am Nov 15, 2015 2:48am
Fantastistic EA. Can you make it have lines for SL and TP and lots auto calculated by risk settings.
  • #29
  • Edited 4:09am Nov 15, 2015 3:59am | Edited 4:09am
Quoting karamaramun
1.) Have you ever experienced a case when widen spreads ruined the setup?
2.) Have you tried opening the positions like 5 minutes before the news? If yes, did the position work as well as the one that opened just a few seconds before the news announcement?
Hi K-Mun,

First, thanks for the correlation table. I will put a link to a website for Forex pairs correlation in Post 1.

1) I have a true ECN account with IC Markets broker, where up to 30 seconds before a high impact red news they keep the spread in a normal range (for example, 0.5 pips for EURUSD). I actually open two positions about 30 seconds before the news release time.

2) No, I never open positions 5 minutes before a high impact red news.

Best,
Math
Trading is the hardest way to make easy money...
  • #30
  • Edited 6:08am Nov 15, 2015 4:07am | Edited 6:08am
Quoting Surgefx
Fantastistic EA. Can you make it have lines for SL and TP and lots auto calculated by risk settings.
I think you want to trade straddle strategy where asking for SL and TP. Please note that true ECN brokers won't respect to your SL levels; they close your position at the first available quote (price) which could be hundred pips far from where you have set your SL level. This is also the case for pending orders, they will execute your pending order at the first available quote (price). According to my experience, if you are working with true ECN brokers straddle strategy won't work. But it may work with market makers brokers (but there are other problems with such brokers). The philosophy of this thread's strategy is to hedge one position with another, and without using broker side stop loss / take profit levels.
Trading is the hardest way to make easy money...
  • #31
  • Nov 15, 2015 4:40am Nov 15, 2015 4:40am
Quoting MathTrader7
{quote} I think you want to trade straddle strategy where asking for SL and TP. Please note that true ECN brokers won't respect to your SL levels; they close your position at the first available quote (price) which could be hundred pips far from where you have set your SL level. This is the case for pending orders, they will execute your pending order at the first available quote (price). According to my experience, if you are working with true ECN brokers straddle strategy won't work. But it may work with market makers brokers (but there are other...
Hi Mathtrader

Quickly, about correlation, may I suggest :

https://www.mataf.net/fr/tools/01-01-correlation

Best regards

BBF
BigBlackfeet Always on the(forex) war path !
  • #32
  • Edited 6:30am Nov 15, 2015 6:12am | Edited 6:30am
Quoting MathTrader7
{quote} I think you want to trade straddle strategy where asking for SL and TP. Please note that true ECN brokers won't respect to your SL levels; they close your position at the first available quote (price) which could be hundred pips far from where you have set your SL level. This is the case for pending orders, they will execute your pending order at the first available quote (price). According to my experience, if you are working with true ECN brokers straddle strategy won't work. But it may work with market makers brokers (but there are other...
Actually am working on hegding trades on a pair by opening trades seconds before news(not with pending orders like you assume), closing one at a SL below fib lines (hence the need for lines for positioning the SL. Then lots proportional to the SL position and risk ) allowing the other to run to TP. If it takes.
having market maker to carry out the strategy fine
  • #33
  • Nov 15, 2015 10:13am Nov 15, 2015 10:13am
Choose two similar ADR currency pairs, will be more safe?
  • #34
  • Nov 15, 2015 9:56pm Nov 15, 2015 9:56pm
Quoting MathTrader7
{quote} To automate it, the question is what would be the entry logic? When to enter? There must be a logic behind it. I don't think randomly opening hedge positions would be profitable in long run....
Hi MathTrader7,

Hm, I have some idea. What about...

 

  1. Calculating historical average correlation in a given timeframe... say EURUSD and USDJPY... we find that they have -0.9
  2. At the beginning of a new time, we calculate again and if the correlation deviates from the average, we will open a position.
  3. Essentially, we are assuming that the deviation is temporary and the pair will resume their correlation... For example, at the beginning of the trading day

Attached Image (click to enlarge)
Click to Enlarge Name: Screenshot1.png Size: 33 KB


These two deviate at the beginning of trading day (US EST)

So we initiate the positions. We will close when

  1. Profit target is reached
  2. Correlation back to normal
  3. SL is hit

K-Mun

  • #35
  • Edited 10:30am Nov 16, 2015 10:09am | Edited 10:30am
Placed my first trade with the EA today very please especially as the button goes blank after click thereb preventing multiple compulsive entry. Can we have a way to hide some of the buy/sell buttons that are not to be used. Also line controlled SL , lots proportional to risk and SL settings . The Close button to close all trades( currently it closes only trades opened by the EA) in a pair will be great. Thanks man
  • #36
  • Nov 16, 2015 10:20am Nov 16, 2015 10:20am
Quoting Surgefx
Placed my first trade with the EA today very please especially as the button goes blank after click hereb prevent multiple compulsive entry. Can we have a way to hide some of the buy/sell buttons that are not to be used. Also line controlled SL , lots proportional to risk and SL settings . the Close button to close all trades in a pair will be great. Thanks man
I can implement a correlation computation between the symbol of the chart that the EA attached to and the symbol that the user sets in the input settings of the EA, and accordingly I can make the EA to hide the buttons that are not to be used. wait for the next versions....
Trading is the hardest way to make easy money...
  • #37
  • Nov 16, 2015 10:33am Nov 16, 2015 10:33am
Quoting MathTrader7
{quote} I can implement a correlation computation between the symbol of the chart that the EA attached to and the symbol that the user sets in the input settings of the EA, and accordingly I can make the EA to hide the buttons that are not to be used. wait for the next versions....
Thanks man for the positive consideration. Also I know SL and Tp on each individual trade in pips and/or percentage of account can be great too if am not suggesting too much.
  • #38
  • Edited 5:45pm Nov 16, 2015 3:21pm | Edited 5:45pm
Version 1.20 of the EA released. In this version the EA calculates the correlation between two symbols based on which the EA automatically shows the relevant set of buttons for true hedge trading. The user can disable this auto button selection. I updated Post 1.
Trading is the hardest way to make easy money...
  • #39
  • Nov 16, 2015 4:19pm Nov 16, 2015 4:19pm
Quoting karamaramun
{quote} Hi MathTrader7, Hm, I have some idea. What about... Calculating historical average correlation in a given timeframe... say EURUSD and USDJPY... we find that they have -0.9 At the beginning of a new time, we calculate again and if the correlation deviates from the average, we will open a position. Essentially, we are assuming that the deviation is temporary and the pair will resume their correlation... For example, at the beginning of the trading day {image} These two deviate at the beginning of trading day (US EST) So we initiate the positions....
Thanks for sharing your idea. I will think about that...
Trading is the hardest way to make easy money...
  • #40
  • Nov 16, 2015 5:18pm Nov 16, 2015 5:18pm
A THING OF BEAUTY MATH

THANK YOU!!!



What do you think of a money flow cross trigger for auto trigger?

Crude but may be effective...
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Solutions ONLY!!!
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