News Trader

[cryptedid]

I allowed Algo trading in MT5 options and now the News Trader is started. Now I have different errors. Please check the attachment. I also attached the set file.
I didn't understand what is 66.23? I also add 15 pips for SL and 75 pips for TP. But as I can see in the error message the tp and sl is wrong.

Btw I have money on my demo account.

 

[Enivid]

I allowed Algo trading in MT5 options and now the News Trader is started. Now I have different errors. Please check the attachment. I also attached the set file.
I didn't understand what is 66.23? I also add 15 pips for SL and 75 pips for TP. But as I can see in the error message the tp and sl is wrong.

Btw I have money on my demo account.

It looks like you've attached the same screenshot here.

 

[cryptedid]

It looks like you've attached the same screenshot here.

Sorry. There you go.

 

[Enivid]

Sorry. There you go.

66.23 is the calculated position size for 1% risk you set to use. I have no idea what your account size is and what are your broker's margin requirements for XAUUSD, so I cannot comment here, but it looks like you cannot opening a 1%-risk trade with such a close stop-loss (15 points). I'm not even sure if such a close stop-loss would be allowed on gold in a live account.

 

[cryptedid]

Hi there. The NewsTrader is working great but I experienced something strange. I have opened trades where the NewsTrader replaces their own SL. Where I can adjust just to add SL to trades only what NewsTrader are opened?

 

[Enivid]

News Trader version 1.12 is out now. It fixes some important bugs and adds new trailing stop and breakeven features:

• Added input parameters to control the minimum profit to trigger breakeven, breakeven extra profit, and minimum profit to start trailing stop. (@Bhushan)
• Added an option to combine trailing stop and breakeven.
• Changed the news date and time parameter to default to the current local time. (@EnrichWave)
• Fixed some issues with trailing stop and breakeven application.
• Fixed the bug with the MT5 version not filtering positions by magic number. (@cryptedid)

Please test and report any bugs you might encounter. Thank you!

 

[cryptedid]

News Trader version 1.12 is out now. It fixes some important bugs and adds new trailing stop and breakeven features:

• Added input parameters to control the minimum profit to trigger breakeven, breakeven extra profit, and minimum profit to start trailing stop. (@Bhushan)
• Added an option to combine trailing stop and breakeven.
• Changed the news date and time parameter to default to the current local time. (@EnrichWave)
• Fixed some issues with trailing stop and breakeven application.
• Fixed the bug with the MT5 version not filtering positions by magic number. (@cryptedid)

Please test and report any bugs you might encounter. Thank you!

Thank you I'll test it out. Can you tell me how the NewsTrader can react faster to price? Today because of fast price bouncing my SL hit double as I set up.

 

[Enivid]

Thank you I'll test it out. Can you tell me how the NewsTrader can react faster to price? Today because of fast price bouncing my SL hit double as I set up.

No, it already reacts as soon as it can. Execution can be very slow during news that's why it's important to open the positions beforehand.

 

[cryptedid]

No, it already reacts as soon as it can. Execution can be very slow during news that's why it's important to open the positions beforehand.

I open 5 seconds before the news. I need to increase seconds? It's really that matter how much time before you opening the trade? Hope you understand my question. Sorry for bad english.

 

[Enivid]

I open 5 seconds before the news. I need to increase seconds? It's really that matter how much time before you opening the trade? Hope you understand my question. Sorry for bad english.

Yes, from my experience, it's best to set to at least to 15 seconds for important news releases and at least 18 seconds for something like nonfarm payrolls or Fed rate decision.

 

[cryptedid]

News Trader version 1.12 is out now. It fixes some important bugs and adds new trailing stop and breakeven features:

• Added input parameters to control the minimum profit to trigger breakeven, breakeven extra profit, and minimum profit to start trailing stop. (@Bhushan)
• Added an option to combine trailing stop and breakeven.
• Changed the news date and time parameter to default to the current local time. (@EnrichWave)
• Fixed some issues with trailing stop and breakeven application.
• Fixed the bug with the MT5 version not filtering positions by magic number. (@cryptedid)

Please test and report any bugs you might encounter. Thank you!

What is your best advice to place SL when trading with XAUUSD? Do you have saved inputs for other currencies what we can use by own risk?

Yes, from my experience, it's best to set to at least to 15 seconds for important news releases and at least 18 seconds for something like nonfarm payrolls or Fed rate decision.

Thank you I'll try.

 

[Enivid]

What is your best advice to place SL when trading with XAUUSD? Do you have saved inputs for other currencies what we can use by own risk?

Thank you I'll try.

First, I've never tried it with XAUUSD. Second, the actual SL should also depend not only on the currency pair but also on the expected impact of the news event and on your broker's trading conditions (Does it widen the spreads a lot? Is there slippage?). I don't think this can be solved without taking a few test trades on a small live account.

 

[Raziel]

Thanks bro, testing.

 

[gavanb]

I can confirm it wasn't working for me before setting the balance parameter as wellView attachment 18974
this worked for me testing on FTMO demo 100k DAX30

I'm new at this, I note here your SL and TP is at 500 and 2000 respectively. Far greater than the 15 and 75 default. Is there a reason for this due to your broker?

Post automatically merged: Nov 27, 2024

I'm new at this, I note here your SL and TP is at 500 and 2000 respectively. Far greater than the 15 and 75 default. Is there a reason for this due to your broker? I'm using the 15 and 75 but both trades are hitting SL within about 10 pips?

 

[Enivid]

I'm new at this, I note here your SL and TP is at 500 and 2000 respectively. Far greater than the 15 and 75 default. Is there a reason for this due to your broker?

The defaults there are set up for a brokers with 4 decimal places in their quotes (e.g., 1.0456) with major currency pairs in mind. In your case, you should probably increase them x10 seeing as your broker uses 5 decimal places.

 

[gavanb]

The defaults there are set up for a brokers with 4 decimal places in their quotes (e.g., 1.0456) with major currency pairs in mind. In your case, you should probably increase them x10 seeing as your broker uses 5 decimal places.

Great, thanks Enivid. I did have some success after raising them after posting yesterday. Great job with EA btw.

 

[nainglydia]

Discuss News Trader expert advisor here. News Trader is a simple EA to help traders automate their news trading opportunities. News Trader is available for MT4, MT5, and cTrader. You can ask any questions about this expert advisor here.

News Radar EA is Free? I downloaded backtest, it did not work.

 

[Enivid]

News Radar EA is Free? I downloaded backtest, it did not work.

What's a News Radar EA?