Here is a workable Straddle EA. It places stop orders any distance from the open.
www.iliketechnology.com
www.iliketechnology.com
go to this thread in forexfactory and download amazing_ea 1.1.8 - it's free and it works perfectly.
then go back and read the whole thread. don't waste your money buying from this leecher.
http://www.forexfactory.com/forexforum/showthread.php?t=6854&page=8&pp=15
All the best
Michael
then go back and read the whole thread. don't waste your money buying from this leecher.
http://www.forexfactory.com/forexforum/showthread.php?t=6854&page=8&pp=15
All the best
Michael
Depth Trade
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Straddling' in forex is a quick way to lose money, off news even faster. One is out instantly twice the spread just to catch one position.
There are so many factors to think about even before attempting this.
When news comes out, spreads can widen out up to 15/20+ pips. Triggering losses before news has even been released.
If one is watching most extreme price traded for Pair being traded and sets s/l off of extreme price. When spreads return to normal, one's position/risk will not be where one would have wanted their % risk to be. That is a best case senerio. One that would be if spreads did widen before news released.
You would have to be calm and efficient enough to see where spreads widened to, calculate where risk/SL would be then enter trades seconds before the big move.
This is still not factoring in time or type of news one is trading off of. If one takes random trades(different news releases) you can expect random trades. Even with 50/50 odds this puts one's losses far into the red from spread paid alone.
DT
There are so many factors to think about even before attempting this.
When news comes out, spreads can widen out up to 15/20+ pips. Triggering losses before news has even been released.
If one is watching most extreme price traded for Pair being traded and sets s/l off of extreme price. When spreads return to normal, one's position/risk will not be where one would have wanted their % risk to be. That is a best case senerio. One that would be if spreads did widen before news released.
You would have to be calm and efficient enough to see where spreads widened to, calculate where risk/SL would be then enter trades seconds before the big move.
This is still not factoring in time or type of news one is trading off of. If one takes random trades(different news releases) you can expect random trades. Even with 50/50 odds this puts one's losses far into the red from spread paid alone.
DT
nihon06 said:
Leecher!!! I had this EA coded- I own the copywrite- and show me an EA that can place limit or stop orders, has requote parameters, trailing stop, distance setting. I repeat, show me a free EA that does what this does! This cost me much more than I am selling it for and it is a good deal. I have sold 5 now and have got nothing but good reports.
And by the way, it has an hour AND minute setting. So you can set it to go off right down to the minute. Its not just for news trading by the way. I know people who work and want to trade the daily bars with stop orders and a long stop and short target. It can be profitable if you crunch the range figures. If you have straddle ideas, I challenge anyone to find a free EA that can do what this does. Its simple to run too.
Plus I guarantee the EA to perform as advertised and provide good customer support. The programming is tight and the EA works very well.
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It's nice of you to post your ebay link but I think you may have overestimated my interest.
I don't know what "and more" means but the free ea I posted does everything you've listed.
I'm a firm believer in keeping all my cash for actually trading. I've made more than I've lost with the free ea, it's a lovely piece of work and just glad there are those traders out there who actually help other traders.
That said, the news trading business is getting more difficult with MT4 retail brokers and see the day when it's damned near impossible.
I don't know what "and more" means but the free ea I posted does everything you've listed.
I'm a firm believer in keeping all my cash for actually trading. I've made more than I've lost with the free ea, it's a lovely piece of work and just glad there are those traders out there who actually help other traders.
That said, the news trading business is getting more difficult with MT4 retail brokers and see the day when it's damned near impossible.
nihon06 said:
Just not happy with the slander. Not a good act. PR 10:18 He that hideth hatred with lying lips, and he that uttereth a SLANDER, is a fool.
Nothings free, and yes, my EA does more than the free one. Limit orders for one. Free updates for two. Like you said, news trading is becoming tough so you use the limit order function for ranging markets. My EA also has a slippage function to control requotes, plus outstanding customer service. That answers your little comment on "and more". I quit counting after my 6th sale and ALL of my clients are happy with the product AND the customer service.
You can't win here.
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JP1966 said:
Not sure of the question but probably not much. Folks who work during the day like to straddle the daily bars and not even worry about the news. For example, once the Pound gets going say 50 pips, you may want to place a trade thinking it is going to go even further. With the Straddle EA, you don't need to be at your computer to accomplish this.
