NFP news trader.

looking for a coder on a little project of mine!



idea pretty simple -
EA check's when NFP is due and
open's a SELL and a BUY order X minutes prior to the release -
lot size can be a dynamic pick, depending on the balance.
trade parameters are simple too - both have a TP - X pips OR the trade, that is in profit X minutes AFTER NFP release, is closed - the other trade gets closed at a TP ( should be 0 pips ) like a break - even AND have a time limit, like X minutes, or prior to midnight ( markets closing for the weekend ) or maybe the trade gets closed on monday, lets say 3am.
the TP for break-even should not be mandatory, since the EA might get both trades in a positive balance, so i suggest the trade to get closed prior midnight, or after weekend.

anyone interested, in checking the results out/coding it?

p.s
the ea should check for the NFP releases on its own, otherwise it gets tricky to test long term runs, due to day-light savings, holidays, and sometimes landing a friday, NFP day after the 7th date ( like just now, 8th january, 2016 ).

This strategy doesn't work as you don't have SL.
As soon as NFP news leads to one direction only... on no zig zag price movement like you are expecting.
The winning trade will be closed and the second one will kill you on friday or monday 3am.

You should try my NFP EA:
https://www.forexfactory.com/showthread.php?t=547279

cheers

Hi,

theoretically the time-switch is the SL. ofcourse, a pre-set could be added, but the whole idea is about it is being dynamic, and controlled only by time.

also, i had seen your EA on NFP, its quite nice, tho so not what im looking for..
and it's somewhat manual.

all im talking about is a totally automated strategy check, nothing more.

and funny thing you say that it doesn't work .. i did a manual pip count for the last 12 months, and this is why i decided to write on a forum, for some help - i came down to around of 750 pips in profit, and 10 out of 12 NFP days - the price, after the big move, did somewhat come really close to the initial price of the NFP realease.

thanks tho!

CrazyTrader posted:
This strategy doesn't work as you don't have SL.
As soon as NFP news leads to one direction only... on no zig zag price movement like you are expecting.
The winning trade will be closed and the second one will kill you on friday or monday 3am.

yes the NFP event should gives of chance on drawing 2 contrast on reverse direction as the housing and the employment rate has with the converse of value with the option.
as the zigzag referring point with the limit to close order as opening 1 and leaves with the rest to wait to complete drawing of the second event on consequence.

the decision is correct as opening by the x times prior to event release and not to execute command by the times of release as shown by the link of checking ea to gives as those lost of the chance on collecting complete of pips with the evenr trading.

opening 1 order gives with the higher risks if the option failed to follows of drawing with the chart movesment,

@lawners1791 it's not as much about statements themselves, as it is about the generality itself - price tends to take the previous highs/lows due to the momentum.


in the picture added, the arrows indicate the following :
at 15:29 ( +2 GMT ) we have opened both long and short positions -
at 15:35 the short position is closed, and a long is opened -
at around 16:05 the first long position is closed at a break-even, and the second long is closed too.

this is the situation A, all together there are 3.
Situation B is when the time to close the trades is due, and the first long (opened at 15:29) is still in losses, however, the second long is in profit - thus we still are in profit.
Situation C is when the price breaks a resistance/support line, and takes on a new trend.
 

I wish you luck. It is impossible for me to find ANY fully automated News Trading EA that works as it is supposed to. Seems programmers either have never thought of doing this, or are keeping the working ones to themselves. 😞

BluePanther posted:
I wish you luck. It is impossible for me to find ANY fully automated News Trading EA that works as it is supposed to. Seems programmers either have never thought of doing this, or are keeping the working ones to themselves. 😞

there actually are a couple fully automated, - i'm just not really much of a news-trading person.

here, however, im purely discussing a theory - nothing more - the fact that the community here isn't as huge, and programmers, who could do the coding, are scarce and not eager to do participate without funding - just for the sake of the knowledge - i find that a little sad.
oh, and the last NFP produced the same result.

this time the following happened - if following already the pre-thought steps - at 15:29 (my local time) the EA would had opened both trades, and we would actually had a TP by default set at some 30~ pips or so, the result would be quite satisfactory.
anyways, from what i gather - there are pretty much only 3 scenarios - this was the 'mediocre' one.

thanks for the interest, Matt.

naurismucenieks posted:

BluePanther posted:
I wish you luck. It is impossible for me to find ANY fully automated News Trading EA that works as it is supposed to. Seems programmers either have never thought of doing this, or are keeping the working ones to themselves. 😞

there actually are a couple fully automated, - i'm just not really much of a news-trading person.

here, however, im purely discussing a theory - nothing more - the fact that the community here isn't as huge, and programmers, who could do the coding, are scarce and not eager to do participate without funding - just for the sake of the knowledge - i find that a little sad.
oh, and the last NFP produced the same result.

this time the following happened - if following already the pre-thought steps - at 15:29 (my local time) the EA would had opened both trades, and we would actually had a TP by default set at some 30~ pips or so, the result would be quite satisfactory.
anyways, from what i gather - there are pretty much only 3 scenarios - this was the 'mediocre' one.

thanks for the interest, Matt.

I could do it in couple of hours as I said, i have already a NFP EA So 80% of the job is already done.
I just don't understand well your strategy.
You can send pm if you want...

so, another NFP day - another day to analyze results.
68pips on the first drop - plus another 70 on the reverse-break-even.

happy to say - the idea came through - again.
even CrazyTrader agrees, which is very nice and pleasant to hear.

sadly, the best suggestion i got was to order it somewhere online, or to go manual, since i can't code myself..
maybe one day.

till then, i'll just hope for my knight in shining armor to come around in this deserted place, and to code it up!

cheers, and everyone - have a nice weekend!

Hi everyone,
just to show that this idea is still alive and well, and i'm still sort of looking for someone to code up this simple little tool.

last friday was NFP again, and everything worked out well, following the best case scenario - A - a total of 42+42+2 pips.

@naurismucenieks if you still need your tool coded, let me know, I might have time this weekend and would be interested in doing it.

@Professional4X
Hi,

thanks for letting me know - i'll send you a PM.
much appreciated!

It's another beautiful Sunday, - two day's ago was NFP release again.
this time it came around to 80-85pips, scenario A.

in other news, - the idea still hasn't been converted into an EA - even those who ask for PM's - fail to even respond to them.
i still don't have the time, nor the interest to pursue this, so it's a whatever.

here's a cool chart picture, proving once again, that this idea is pretty neat.
https://imgur.com/eLlRIKw

I'm in the middle of a project now so I can't help right now.

Hey guys,
I missed out last month on NFP due to being busy, but today, on this beautiful Sunday I'm having here, in London, I'll do a double.

so, 7th of July :
the typical price move and reverse/correction
situation A :
 75pips down, cut around 50 or so, + 50 reverse, and add another few gratis.

https://imgur.com/UCvj5oo

3rd of June :
finally a situation C :
strong movement in one direction, no reverse - closing out trades at midnight would result in around 230~ pip loss.
i haven't had a chance to pull any proper charts with more details, since I'm semi-detached from my PC.

https://imgur.com/1BeyzEY

There are many breakout EAs or News Trading EAs on MQL5.com. Even if your concept is unique, market saturation of using your (future) EA would yield many disillusioned customers with inefficient results. Price fills are poor at the best of News times, but would be noticeably worse were everyone using the same EA, expecting the same fills.

But I hope you can prove me wrong with your concept. I sincerely wish you the best of luck and look forward to your results! 😄

I have a news ea that works best during just news time. A little slippage,yes but its better than letting that pip go down the drain without actually taking a bite of some. Straddles and its good enough for me. Need a Comprehensive list of High Impact news that moves the forex market so i can trade it too.

Thanks