Done and tested new signal module of expert advisor fxULTIMATE which allows to automate news trading.
Let’s check the settings:
This module have two instuments Manual News Trading and Auto News Trading:
when you using first Manual Trading module you should manually fill NewsEvents field with dates and time with dates and time of all events you want to trade.
If you don’t want to trade some days with your automated strategy just type dates to SkipDates field in this days the robot can’t automatically open a trades but you can open a trade manually from onchart trade panel buttons.
If you decided to trade news automatically you should use Auto News Trading module
In the settings you just choosing impact level of news to trade, also you can separate some specific events like Non Farm Payrolls, FOMC, Yellen or Draghi speech etc
Pre news start in minutes(typically it should be couple of minutes if you want to catch main impulse)
Timeframe of news period(which bar validate trading at current event from 1 minute to 1 day in the case if you want to trade whole day before and after news come out)
Also you can close your trades before news (you can just close all trades, only when your account in negative profit, only when you have profits and you want to close it before the news)
This module work with ForexFactory economic calendar indicator which pointing on a chart by vertical red lines to future news events and plotting other information with interest previous rates and forcast.
How to trade:
There’s two ways to react the news coming: 1 – trade this events 2 – stay out from trading high impact news
What to choose – decision is yours
Doesn’t matter what you choose the module will help you to trade the events or avoid losses with strategies which sensitive to this market impulses.
Alright guys, the info below for those who want to trade news and scalp the money right to their pocket in a couple of minutes
There is high impact events you should to separate from other news:
- Non Farm Payrolls (or Non Farm Employment Change, NFP) – this is high impact events coming at first friday of every new month. Change in the number of employed people during the previous month, excluding the farming industry. If actual rate is greater than forcast it makes USD strong.
- FOMC (Federal Open Market Committee) – happens 8 times per year. More hawkish than expected is good for currency
- Federal Reserve (Fed) Chair Janet Yellen – More hawkish than expected is good for currency
- European Central Bank (ECB) President Mario Draghi Speech -More hawkish than expected is good for currency
You can trade pre news and post news. It means after high impulse typically will be a pull back like with gaps so you have to choose which mehod fit perfectlty for you. Pre news can traded with fundamental analisys or technical (channel breakouts in most cases) post news – only technical.
For fundamentals you must analize economic data, forcasts and how currency whould react to the actual values.
For technical analisys exist many ways, indicators, drawing tools, methods.
I’ll give you an example of trading 06.10.2017 NFP event with auto news trading module and price channel breackouts module with some hacks for safety trades execution:
In this strategy used are: Auto News Trading module, Price Channel Breakouts module, AskHackPrice, Spread Control System, Graphic Take Profit and Stop loss feature, trailing stop, market orders expiration option and autolot.
Most broker rising spreads and slippage, some of them just don’t allowing you to open or close your orders at high impact news time this is their risk management strategy thats why you must control current spread and be sure your orders will close and open without high spread comission by any software. If you want to do this manually – good luck! Because luck in this case is very important thing for you.
The best moment about news trading – this high volatility periods is predictable actually you knew exactly when and why it’s happen. This is awesome money making oppotunity and high risk trading same time.
Want to talk about – feel free to ask a question.