I have been trading the news using Straddle Trader Pro for the past 3 years. I can honestly say that this software works well. Barry is always available to assist with any queries and the Skype room helps a lot to discuss strategies with other users.
I would highly recommend this software for news trading.
I wrote a comment on the vendor’s website but he did not post it. That alone tells me that the vendor only selectively posts the positive comments and we should steer clear of this product.
Unfortunately, he does not realize that one can always post on neutral forums like FPA. I decided to make a special effort to locate this thread on FPA to post it to warn others.
I would appreciate if FPA can post a summary of my comment to them so that readers can be made aware. ALWAYS BE CAREFUL OF VENDORS WHO ARE NOT FULLY HONEST. It’s your own money you are risking.
The EA will not work given the high latency of MT4. There is no way you can place 2 stop orders seconds before the news release. The extremely fast price spike, the MT4 virtual dealer and high latency all work against you. This means you do not get filled or get hit with a large slippage or face multiple requotes. It does not matter how good is the EA as the problem lies with MT4 and the brokers.
Brokers who practice guarantee fills usually imposed a minimum pip distance for you to place your orders. This effectively neutralizes the spike in price.
Be careful of vendors who promote the virtues of an EA while hiding these facts and refused to post them on their website.
I have been using Straddle for a couple of years now and it has been one of the most consistent pieces of forex software that I have used. Taking advantage of the spikes in the market with built in parameters to limit your exposure was great tool that Barry developed and I look forward to continue to make money. I'd say overall I have made over 10k using this strategy with a time commitment of 2hrs/month (10 min to setup each trade).
Thanks Barry/Dustin and Team!!
The software works fine, its the brokers that are the issues. So far I have opened three broker accounts with no success. Forex Yard suffers from execution timings and rarely open any of your trades. 4XP Forex suffers from the same issues. FXDD on the other hand executes all the trades but the spreads become so wide during new releases that I have yet to have a spike that exceeds the spread. All in all I have lost on every trade. I would be willing to change my tune if someone would recommend a broker that they are having success with this trading strategy. I'll give it another 30 days, other wise I will pursue further investigation to recover the cost.
News trading is hard to manage and their software really makes it a lot easier. Price is steep $2000 and trades about 1-2 a week. But when it does the trades have been nice. I just did one trade gaining 60 pips. If you trade a 0.1 lot size you will have the system paid off in about 3 months. They even tell you what settings and what time to trade. Their training videos + guide are pretty much all you need. Very happy with the system. Remember it takes time to get wealthy.
i am now a subscriber of STP for about a month. The conclusion is that it is a nice EA trading the news. The hole problem is not t he EA which is a very nice build but the news trading itself. It is very difficult to be always succesfull due to many parameters like Brokers slippage, spreads, early news releases, internet connections, and the list goes on.
But it is very nice to see a trade going live and giving you 50 or 90 pips in 1 or 2 minutes. It happens rare, but it happens. The usuall trade is +20 , -10 or no trade at all. The big downside is the price. It is about 2000 USD one time payment or 2500 in 3 or more payments, no refund policy. So if you want to pay them from your winnings and not overtrade you must have at least a 5000 usd account to trade 10% every time and have the results to pay them and have something for yourself. Also the support could be better and faster.
Conclusion, whoever has a good stomach and wants to come in you are welcome.
2011-07-01 No RatingDownloaded 2 days ago. Used it in demo account.
Followed guide in his website, which informs about which trade and what settings to use.
Traded GBP Purchasing Manager Index Manufacturing today, and made 25 pips in 1 minute with minimal risk, and consider that the speciffic announcement was medium of impotance.
And all that for free.
I will continue with demo for a month and than go to live.
The product sounds good in theory but the actual news releases it trades are few and far between. I tried on several news trades with poor results: 4 times it did not trade the releases,
2 times it lost money. Considering the huge price tag on this software it has failed to meet expectations of being a reasonable product for the money. It is not the easy money maker it has been made out to be.
This is product from same kitchen of Bill Polous and friends as Forex Income Engine etc.
Same marketing, idea, package and price.
They repackage time after time same ideas slightly modified.
In reality, it performs like most of even free of charge SWs.
If most of paramaters are in order for algorithm than it wins.
I had few losses and overal still around zero, but definitelly not miracle.
I think that every 2-3 months we'll see something new.
I do not recommend this purchase, as it is not clear how to get money back in case of being non-satisfied.
Without effective money back guarantee, any such SW is scam by definition.
FPA needs to investigate more.
Interesting that you can now get the Nova system for free if you buy this system. Nova was $2k also. All very suspicious.
I was attend a webinar and after read all Dustin Pass here at FPA, i would like paste this text directly from his payment access, NO REFUNDS. see below :
I understand that the $1,997 (or $2,497 if 3-Pay option is selected) is a non-refundable StraddleTrader registration fee. I understand that this will be billed to my credit card and credit card payments are processed through Global Profit System International's merchant account. I also understand that I will be billed $69 per month after the initial six (6) month period expires to maintain StraddleTrader Pro access. If I selected the optional $499 OracleTrader option, then I understand that I will also be billed at $199 per month after the initial four months' access expires, starting at month five (5). I hereby authorize these charges and state these transactions are valid and understand that if I desire to cancel either StraddleTrader monthly renewal or to cancel the OracleTrader monthly renewal, I must send an email to firstname.lastname@example.org at least twenty-four (24) hours prior to the start of the respective renewal period. I must receive a confirmation email back from Global Profit Systems confirming the cancellation, otherwise the cancellation request will be considered to NOT be received. I affirm that the name and personal information provided on this form are true and correct. I further declare that I have read, understand and fully accept the terms for this sale.
I have read and understand the terms of this agreement.
Please, please be very careful.