Trade Plan - FNG - Wed, Feb 6 2013 - Australia Employment Change 7:30pm

[Peter O]

​

Hello Fellow Traders,


Here are Forex News Gun trade parameters for this release:

Australia Employment Change > 7:30pm NY time

Traded pair	Expected figure	Deviation trigger
AUDUSD	5.0 (k)	±20.0 (k)

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

Actions:

	Buy	AUDUSD	if actual figure is or is above	25.0 (k)
	Sell	AUDUSD	if actual figure is or is below	-15.0 (k)

Configuration steps for Forex News Gun client:

1. Start trade terminal

- Open your trade terminal and open an order sending dialog with Buy and Sell buttons.​

- Select AUDUSD pair.​

- Set your lot size - use your constant risk level on balance.​

2. Start Forex News Gun client

- Open your Forex News Gun client ( and ).​

- Make sure that User text field is not empty on the login screen (type whatever) and click OK.​

- Drag the FNG window aside in order to make trade terminal's Buy and Sell buttons visible.​

3. Set a click

- Click the 'Set Click' button in the row of Australia Employment Change.​

- Double click on first row's 'Range To' cell. Type '-15.0' and hit Enter.​

- Click first row's 'Click Location' button.​

- Drag the mouse cursor over the terminal's Sell button but don't click. We just show FNG where it is by pressing 'S' key while mouse cursor is over the Sell button. You will see the screen coordinates appearing in the FNG client.​

- Double click on second row's 'Range From' cell. Type '25.0' and hit Enter.​

- Drag the mouse cursor over the terminal's Buy button but don't click. Press 'S' key there to register button location in FNG client.​

- Click OK on this 'Set Clicks' window​

4. Keep trading environment intact

- Make sure that your pc, trade terminal and FNG client is running at the time of the release: Wednesday 7:30pm NY time.​

- Make sure that trade terminal's Buy and Sell buttons are visible at that time in order to catch screen clicks from FNG client.​

Now you have an automated news trading entry environment that will enter the market in a fraction of a second if this release figure hits the deviation. Nevertheless, don't forget to be at the PC at the time of the release in order to manage your position and to take that pips on the first spike that lasts no longer than several minutes.

I cannot tell you where to exit in relation to your entry, because entries during news vary greatly, due to different spreads, slippage, and other factors. For this reason, it’s extremely important that you review historical charts for Australia Employment Change, where the same deviation of at least 20.0 occurred. Click here to see such history: Australia Employment Change history of charts.

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

If the release figure doesn't hit the deviation then FNG client won't click so you can either close it or set the next release. In this case don't forget to change currency pair if needed according to the new release details. Don't be surprised if most of the releases don't trigger. This is a conservative strategy and according to my statistics only every 4th or 5th release opens a position by hitting the deviation.

You can try to make money “while you sleep” with this. To do that, set it up on stable computer or server with stable internet connection, and pre-set your stop/loss and take/profit targets with your broker. As long as the platform and FNG remain open, your trade will be executed and exited automatically.

To get even more creative with FNG, when setting up clicks, you can set up first click instantly on let’s say “Buy”. Then you can set up second click with let’s say 20 minutes delay on let’s say “Sell” to automatically close your buy trade 20 minutes later. To do that, simply put 20 into the MM field next to the second click, and identify the “Sell” location. HH stands for hours. MM stands for minutes. SS stands for seconds. MS stands for milliseconds. The software will delay any click by your specified desired time parameters.

Due to so many releases not hitting the specified parameters, and due to them being released at such different time frames, being able to set it up, and leave it on auto-pilot may be attractive to some people, though it will be more risky.


>> Go to see other trade plans for Wednesday, February 6th, 2013


Sincerely,
Peter

 

[bncase]

australia employment change

Hi, I am having a hard time understanding exactly how to do this, I know this event will have passed by the time you read it, but it should be the same for others. This event has two different rows of change (unemployment and employment) at the same time, do i have to set both clicks with the same info? Also why do i have to "review historical charts for Australia Employment Change, where the same deviation of at least 20.0 occurred", what information should i get from that, is it Where to put my sl and tp? And can i "pre-set my stop/loss and take/profit targets with my broker" with MT4? i don't think i can. If i can't, do i set sl and tp after it triggers?
Thanks

 

[Klugec]

hey bncase

you ever dealing with the subject news trading???

please dont understand me wrong but i think sometimes we all have to research alone before we asking something elementary.

look the employment change comes early then the unemployment in AUD... so if you get a great deviation in the employment change, you will catch some pips

if you get a horrible conflict between employment and unemployment then you have to be very fast to get out of that trade

with the historical data you can make your own statistics to find your own perfect deviation

also you have to watch the news around the world and the data in the past, like today you saw positive numbers in employment and unemployment numbers but what happens after a smal initial spike it start a smal sell off
why? because the data should be very well because then there would be a chance for no rate cut
so with all the informations what you collect in the time before you make the trade you know that you need a greater deviation on better news and a smaller deviation on bad news

like me put only a deviation for a bad news from 8k because a saw good chance for a sell of on any bad news

i hope you got some new informations about news trading[/FONT]

 

[Klugec]

Topic: Asset Purchase Facility

Hey Peter

i would be very nice when it would be possible to trade with the forex news gun also the "Asset Purchase Facility" change during the Official Bank Rate decision

Is that possible to make it happen?

I see a smal chance of a increase and that would be have a chance up to 100 pips

A small answer if yes or no would be great

Thanks in advance