Preview of 5th week 2013 (Jan 27 - Feb 2)

Peter O

Special Consultant to the FPA
Messages
3,999
Hello Fellow Traders,

On the next week (Jan 27 - Feb 2) we have 8 tradable releases:


--- Wednesday, Jan 30 ---
USAADP Nonfarm Payroll Employment8:15am NY time
USAAdvance GDP8:30am NY time
USAInterest Rate12:30pm NY time
New ZealandInterest Rate15:00pm NY time

--- Thursday, Jan 31 ---
CanadaGDP8:30am NY time

--- Friday, Feb 1 ---
UKManufacturing PMI4:28am NY time
USANonfarm Payroll Employment8:30am NY time
USAManufacturing PMI10:00am NY time

Find other details here:

>> Go to the review of the 4th week 2013 (Jan 20 - Jan 26)

>> Go to the economic calendar

>> What is FNG and DTS? Go to the Introduction.

Sincerely,
Peter
 
Last edited:

tony orah

Private
Messages
25
Dear Peter,
I requested for your assistance in putting me through with the new softwares as I travelled when you started it all. I complained of being unable to save the download on my desktop and other follow up. Our fellow trader who is through with guides can help out.
Orah Tony
 

qbitz1

Private
Messages
21
Pierre, here's a couple of screenshots which might help you out :)

1. Start your trading platform and FNG

Start FNG.PNG

2. FNG displays a list of tradable news for the following week. Choose the one you're interested in and click the "Set Click" button next to it. A new window opens as shown below. In this example I'm trading "US Durable Goods New Orders To" which is forecast to be 0.8. According to my trading plan, I'm going to sell EUR/USD if the actual figure for the news release is greater than 1.2 so I double click on the top left "Range from" box and enter 1.2 (sorry I put 2.1 in the screen shot by mistake).

From Range.PNG

3. FNG's job is to click the mouse automatically for you as soon as the news release arrives, on either the BUY button or the SELL button. So, I now bring up my order window.

Set Click.jpg

In order for it to do it's job, it needs to know where on the screen these buttons are, so on the same row, I click the "Click Location" button and a new message appears which says "Press S to save mouse location". I now move the mouse over the BUY button and press S. I DO NOT CLICK THE BUY BUTTON AT THIS POINT!!

You will notice that two new numbers have appeared in the row corresponding to X and Y coordinates of where you moved your mouse to. So long as the order window is open and in the same place as when you set the click location, this button will be clicked if the condition is met (i.e. the news release actual is >= 1.2)

In my case, I decide that I want to buy EUR/USD if this release is less than 0.5, so I click the Range To box on the second row and enter 0.5. I then do click the "Click Location button on the second row and move the mouse over the BUY button on my order window before pressing S.

I have now set up my trade to buy EUR/USD if the news release is <= 0.5 and sell EUR/USD if it is >= 1.2 so I press ok on the FNG click setting window. I need to make sure that my order window contains all the correct details for the trade that I want to make, e.g correct lot size and leave it open in the same place on the screen till the news release happens.

Judging by the almost immediate spike in popular news releases, I can only assume that many people program their trading platform in some way to achieve this effect. I'd be interested to know from anyone using this program what sort of fills do you get since I would imagine that if the price spikes very quickly, one could easily get filled at the end of the spike instead of at the beginning which was probably the hope.

Cheers,

Jon
 

Pierre3

Private, 1st Class
Messages
59
In the Range to box (in the first line) you put 0.5 and click "click location button in the first line; I type "S" the coordinates appear
In the Range from box (in the second line) you put 1.2 and click "click location button" in the second line; I type"S" and the coordinates appear

What I mean the value in the range to are in the first line and the value of Range from in the second line

Is it correct?

I attach file of click settingPicture 2013-01-28 19_25_40.png
 

qbitz1

Private
Messages
21
Pierre,

You appear to be selling if the price is>= 1600 and buying if the price is <= 600. Is this correct? Also, check your currency pair for the news release and ideally ensure you select the pair which is likely to have the greatest fluctuation.

You can use this website to work this out.

Forex Calendar @ Forex Factory

Click on the detail column of the news release you're interested in and look for SMQ. Click in this column and you should arrive at a website similar to this:

OlsenScale - Scale of Market Quakes (SMQ) - 2013/01/03 09:00

Here you can see which currency pairs will be most affected by the news release. Bigger number should mean bigger effect.

Jon
 

Pierre3

Private, 1st Class
Messages
59
I attach "CLICK SETTING" for ADP today 8.15

I buy USDJPY if => 215
I sell USDJPY if =< 115

Tell me if all is okPicture 2013-01-30 12_58_26.png
 

onenikos

Corporal
Messages
89
Set up ideaw

For setup if using MT4: Go to "Insert" choose "Andrews' Pitchfork". Click in an area and establish the fork. Double click and drag points to establish equivalent distances, say 15 pips. With middle dot move fork as price changes before trigger time. Also place trhee vertical lines at the times specified (start -Finish of retrace and end of trade. Good luck.
 
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