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Look - lm making profit with my EA

Discussion in 'Personal Trade Journals' started by Alon, Jul 2, 2008.

  1. Alon

    Alon Private, 1st Class

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    Hi

    I have MetaTrader EA like the one in the videos ahead.
    I will try to make profit with a strategy that i create + the EA and show here the result.
    Here you can see videos on how to straddle the news .
    The trader use an Metatrader EA .I have an EA like that and even better.


    Alon
     
    #1 Alon, Jul 2, 2008
    Last edited: Jul 2, 2008
  2. Alon

    Alon Private, 1st Class

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    Thos are the videos

    &feature=related
     
    #2 Alon, Jul 2, 2008
    Lasted edited by : Aug 15, 2015
  3. Alon

    Alon Private, 1st Class

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    More video

    &feature=related


     
    #3 Alon, Jul 2, 2008
    Lasted edited by : Aug 15, 2015
  4. Alon

    Alon Private, 1st Class

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    Made 6 pips by working with the EA

    Hi

    1 Jul even that the AUD Interest Rate Statement didn't move the price much
    but i succeed to have 6 pips profit with the EA




    Alon
     

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  5. Alon

    Alon Private, 1st Class

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    More profit with the EA

    Hi

    1 July 2008

    As you see in the pic the EA made a profit of 7 pips ( my TP setup ) for the US ISM manufacturing

    also in the AUD Retail Sales m/m the EA made 10 pips profit

    Alon
     

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  6. Alon

    Alon Private, 1st Class

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    This is my strategy

    I want to tell you my strategy :

    I'm going to those 3 calendars :

    Forex news trading calendar with economic events analysis and currency exchange charts
    Forex Forum, Forex Calendar, Forex News @ Forex Factory
    Economic calendar | financial calendar | Forex economic calendar

    I am using the filter in all the calendars to see the high impact news event only, ( in forexpeacearmy calendar i use 4 and 5 stars events) then im looking for those event that all 3 calendars agree that it will have high impact. its about 1 0r 2 news every day.
    Those are the only news that im trading .

    On those news im putting the EA for straddling 10 pips away from the price that is currently in the news time and about 7 + - pips TP, that's its , im not greedy.
    also its important that the orders will have SL and TP from the start to prevent slippage.
    I hope that most of the time i will success to scalp those 7 pips.

    What you need to be careful is if the price move and execute one order but the price dont have strength to go all the way to the take profit and start to go against you this is the time to close the position and dont wait to the price go all the way to 10 pips Stop lose. But dont close the position to early

    This is my startegy What do you think about it ?

    Alon
     
    #6 Alon, Jul 2, 2008
    Last edited: Jul 2, 2008
  7. Alon

    Alon Private, 1st Class

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    Loss 10 pips but ....

    Thu, 03 Jul 04:30 AUD Trade Balance

    As you see i lost 10 pips
    Because the news was in the night i could not minimise the lost by exiting the position before it will go all the way to my SL

    But i want to show you something interesting and how the broker platform is playing unfair

    Look at my take profit it was at 9609 in my broker platform the price stop at 9612 and don't catch the TP look at the second pic you will see other chart and in the other chart as you see the price go all the way down to 9609.

    second you can see that in my broker platform the price after the news go up amazingly exactly to my SL at 9226 just to close my position and going down again

    Those unfair play of the brokers are known and we should be careful from them

    Well in that news the price moved 20 pips i put an order 10 pips away and 7 pips take profit and still lost :)
     

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  8. Alon

    Alon Private, 1st Class

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    More profit with the EA

    15:30 USD Nonfarm Employment Change :D

    In this trade my setup was 7 pips away from current price in the time of the news and TP 6 pips
     

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    #8 Alon, Jul 3, 2008
    Last edited: Jul 4, 2008
  9. Alon

    Alon Private, 1st Class

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    lost this time

    Fri, 04 Jul 17:00 CAD IVEY PMI

    The last 20 second before the news was so volatile that the EA failed to modify the price in the pending orders

    when the news came out the price was 0175 and i setup the EA to be 7 pips away so it should be 0168 instead it was 0156 12 pips below and that make me lost

    I think that next time i will not put a pending orders 1 minute before news i will open position 3 seconds before the news and will see if it better
    But i will need to wait to Monday :)

    By until then
     

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  10. Alon

    Alon Private, 1st Class

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    Thought about news trading

    I know that there is a lot of disagreement about trading the news because a lot of reason :
    Volatility times
    Brokers tricks include freezing the platform, widen the spread , filled way far from the price you wanted to ( slippage ).
    limitation about scalping and on.

    Well im thinking that there is one reason that the brokers do all this tricks and that it because in the news you can profit.

    There is a big move of the price in a known time and this can make you profit.

    When im looking at the Forex chart at any time its like an equation that all data's are unknowns, look at the chart and tell me if you know where the price will move now - no one know.
    But in the news we have two things in the equation that we know 1- that there is going to be a move in the price 2 - and the time that it will happen.
    Those two things help us to solve the equation just like in mathematics equations.

    So what about the brokers tricks ?
    Lets be realistic its a big problem we are trading through their platform, the brokers will therefore have an advantage over us.
    But we can find some solutions to the problems, lets thing about the solutions :

    Restrictions and freezing the platform - first we need to find a broker that declared that he have no restrictions about scalping and trading in the news time, also send him a mail and ask him to be sure about that. there are brokers that have no limitation about scalping and news trading.

    Filled far from the price and slippage - What we can do in our site to prevent delay in filling the orders is a good Internet connection, and using an automated software like MetaTrader and match an EA ( Expert advisor ) to the trading technique . One more very important think about that and preventing slippage is to put a full orders that contain stop loss and take profit. I know that all of us want to take the all 30 pips of the movement in the price, but we should not be greedy
    , you need to decide how much pips you want for TP ( im usually put 7 , if you think its few pips please give me 7 pips every day and im in haven in the rest of my life ) be reasonable ,think about the widening spread in the news and put it in the order setup from the start and not after the order will execute - it will be to late.

    Volatility in news times - also big problem but we can provide a partial response again by not be greedy. we should put a limit order far enough that the whipping and the widening of the price will not catch our order. only the real mouvement of the price.
    This will need to be checked with the broker platform. No less then 8-9 pips away from the current price in the news time.

    One more important thing is practice practice and more practice a lot of practice don't be hasty and not to hurry opening live account.

    I know the trading is complicated and i didn't give you here answers to 100% success ( who can ? ).
    But i hope that i help you a little to overcome the news trading problems and to be a better traders.

    If i will remember more solution i will add them in the future.

    Good trading to all of us :)

    Alon
     

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