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Hi
I have done this strategy with some success. I do find though that you need to enter about 15 seconds before the announcement otherwise natural movement will take you out.
I do this via a script and not an EA which has been quite good.
Just a word of warning - I have found some brokers - seem to create a 'spike' ion the opposite direction at the time of the announcement. This of course triggers both the Buy and Sell which is a problem. I overcome this by have having a SL buffer and a TP buffer for both orders. If there is a spike, the 'wrong' order has a very low SL while the 'good' order has a high TP. Seems to work
If you are interested I can make it available.
I have done this strategy with some success. I do find though that you need to enter about 15 seconds before the announcement otherwise natural movement will take you out.
I do this via a script and not an EA which has been quite good.
Just a word of warning - I have found some brokers - seem to create a 'spike' ion the opposite direction at the time of the announcement. This of course triggers both the Buy and Sell which is a problem. I overcome this by have having a SL buffer and a TP buffer for both orders. If there is a spike, the 'wrong' order has a very low SL while the 'good' order has a high TP. Seems to work
If you are interested I can make it available.
- #1,667
- Jan 6, 2016 10:34am Jan 6, 2016 10:34am
{quote} Thanks for your quick response,is ther any indicator that measures this or its done manually,pls pardon me for my stupid question
Maybe Mr.plexyroad have good idea about this topic,you are the expert about EA and setting,we will be glad to here from you sir.
Anyway i will talk to my friends who have expertise about this matter whether it can be done or not and will update here.
Good idea commander.
{quote} Hello commander365,it's not a stupid question my friend,i think it's a good question because the (indicator measure retracement) still not exist until now,who knows maybe someone will create it after read this discussion (indicator+EA) measure retracement EA sound good to me and you are the founder of this idea
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- #1,678
- Jan 11, 2016 1:59am Jan 11, 2016 1:59am
{quote} I did some on NZD/USD, but trade was closing today morning only - 17 pips
I have measure spreads in several forex brokers and different account type from VPS and from my PC in the past 3 years. Including high impact news events, and normal trading hours. (day, and night) . My conclusion: those brokers with lowest "measured" spread using the highest latency. If add spread and slips (latency) sometimes is higher than any other broker with higher spread.
There is another think: ECN accounts.
Most of the brokers are not sending your trading request to the (Big Pool) if you are trading with small lots. Even if you are using ECN account.
This is a working business model.
I'm not complaining. We just have to know about those details and we can adjust our softwares and trading strategies to fit to this difference.
- #1,680
- Jan 11, 2016 9:01am Jan 11, 2016 9:01am
{quote} I make 20+ pip on USD/JPY
. Good start for this year
My next trade-able news release is the Australian Employment change.
I'm a bit scary. I didnt earn much money as I expect on NFP news on last week, so I have to set bigger trading lot size on Australian Employment Change. What you guess about set 2 different PipsAway (Buy Distance= 12 pips, Sell Distance = 6 pips)
Because USD is strong, so I could wait in short position for longer time.
Thank you for your comment.