FNG and DTS Daily Trade Plans Summary - Wednesday, July 10 2013

[Peter O]

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Forex News Gun Trade Plan

Australia Employment Change - 9:30pm NY time (Wednesday, July 10)

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	Traded pair	Expected figure	Deviation trigger
	AUDUSD	-2.5 (k)	±20.0 (k)

	Buy	AUDUSD	if actual figure is or is above	17.5 (k)
	Sell	AUDUSD	if actual figure is or is below	-22.5 (k)

Expected move during first 20 minutes after the release is 30 pips or more.


Review historical charts where the same deviation of at least 20.0 (k) occurred:

Australia Employment Change history of charts.

Once there, set filter to Difference Actual-Forecast >= 20.0 and click "Filter" to see list of charts.


To review Forex News Gun step by step trade plan go to weekly detailed posts.


--–––––————— FNG Configuration —————–––––--

Release name in FNG client: Australia Labor Force Employme

Clicks: first row is for Sell AUDUSD button, second one is for Buy AUDUSD button:



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O O O
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Diamonds Trading Signals Trade Plan

Australia Employment Change - 9:30pm NY time (Wednesday, July 10)

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	Traded currency pair	:	AUDUSD
	Initial spike duration limit	:	20 seconds
	Initial spike price action threshold	:	20 pips
	Triggering retracement percentage	:	30 %
	Retracement duration limit	:	60 seconds
	Maximum trade hold time after release	:	15 minutes
	Stop loss	:	10 pips
	Take profit	:	10 pips
	Maximum spread	:	2 pips

1. If between 09:30:00pm and 09:30:20pm, so during the first 20 seconds you see AUDUSD move up or down by 20 pips or more, then enter in the direction of the initial spike at the very first 30% retracement if it doesn't take more than 60 seconds (till 09:31:00pm) – and if spread is at 2 pips or less. Set stop/loss at 10 pips, and set take/profit at 10 pips immediately.
   
   
2. If the move either up or down was less than 20 pips during the first 20 seconds, then the actual number of the report did not generate sufficient interest in the market, and you simply skip the trade.
   
   
3. If by 09:45:00pm, so 15 minutes after the report release, neither your stop/loss nor your take/profit points were hit, then close the trade automatically at market price of the time.

To review Diamonds Trading Signals more detailed trade plan go to weekly posts.

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[wakeel86]

is it possible for anyone who's good @ mql4 to create an EA that can detect the entry conditions for the DTS parameters and have them reported on the chart as they are detected, as well as whether to enter the trade or not

I believe this should be possible....with the user inputting the broker time the news is gonna occur, as well as the necessary DTS parameters for that news

Anyone thought of this

 

[wakeel86]

-news time (broker time)

-Initial spike duration limit (starting from news time)

-Initial spike price action threshold (minimum of the input points)

-Triggering retracement percentage (taking open price into consideration as well as every recorded high or low, and working out the necessary percentage retracement)

-Retracement duration limit (starting from news time)

-In case of whipsaw, EA makes use of which is farther from the open price; high or low
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These can be included if one wants to make the EA take the trade

-Maximum trade hold time after release
-Stop loss
-Take profit
-Maximum spread

 

[Peter O]

is it possible for anyone who's good @ mql4 to create an EA that can detect the entry conditions for the DTS parameters and have them reported on the chart as they are detected, as well as whether to enter the trade or not

I believe this should be possible....with the user inputting the broker time the news is gonna occur, as well as the necessary DTS parameters for that news

Anyone thought of this

Hi wakeel86,

Actually I have a zeroth version of that EA - it does most activities instead of the treader. I'd like to publish it for free on FPA's Forex Tactical Squad forum but I'd like to make it bulletproof first because it may trade real money. There are many continuously changing parameters and I'm about to figure out something that protects your money much better. For example it may cost much money for you if you just make a typo in input parameters - I need to be very cautious before I give you a tool for trade automation.

Peter

 

[wakeel86]

That's cool...It's good to know you trying to make it a possibility...Can't wait to lay my hands on it

 

[Peter O]

That's cool...It's good to know you trying to make it a possibility...Can't wait to lay my hands on it

Hmmm... Possibly I could make a version that doesn't actually enters the market and closes trades but draws on the chart to help you to act. That's a safer thing and you can start making money more conveniently sooner.

 

[wakeel86]

Will be cool to have that for a start, just to have a feel of it & also make some recommendations