Need help with pre-news hedging EA
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Thread: Need help with pre-news hedging EA

  1. #1
    Greetings all. I have an idea that I believe it's useful and I would like to post it here to see if any coder can help us. Trading new can be redeemed if there aren't any spillages for brokers. So I thought of a way to avoid this by hedging the market a few minutes prior to news in order to make the most of the spike. The notion is this

    buy and sell place at the exact same time 3 minutes prior to news time. Our EA will place the take profit and stop loss in stealth mode at about 20 minutes prior to the news. Tp 30 and sl 15 for example. If at news price heads north, the sell stop loss will be trigered at 15 pips and the buy make profit will fly. Can any coder assist us in this respect.

    I have traded this system using the attached ea but the trouble with this wukar ea is that I needed to reset the stop loss and thereby loose time. Secondly, it doesn't have input signal for predefined stop loss and take profit to adapt at specific time hour minutes and instant.

    Coders assist please.
    https://www.forexforum.co.za/attachm...1297867237.mq4

  2. #2
    If you would like to trade news you shouldn't use a stealth tp since the ea will need time to ship the actual stop loss order to the broker leading to unnecessary slippage. Do a little reading on the subject price time priority. Even if this doesn't apply to your broker you continue to be a tick overdue for your sl to be executed.

  3. #3

  4. #4
    Quote Originally Posted by ;
    Greetings all. I have an idea I think it is useful and I want to post it here to see if any coder can help us. Trading new can be redeemed if there aren't any spillages for brokers. So I thought of a way to prevent this by hedging the market some minutes prior to news in order to make the most of this spike. The notion is that this buy and sell place at the exact same time 3 minutes prior to news time. Our EA will set the take profit and prevent loss in stealth mode at about 20 minutes prior to the news. Tp 30 and sl 15 for example. If at news...
    that isn't going to work since slippage is a killer.

  5. #5
    I know that slippage is the major monster of news trading but I am looking for a way to avoid it. I believe entering the transaction prior to news is the very first thing but how it will affect my stop loss and tp is what I am fighting. Thanks all for your gifts though.

  6. #6
    Hi, I use the same egy but with manual trading, as the sudden spread widening that happens during high impact news can screw up the bot logic fairly hard. You can consider extending your ceases and hedge interval and start lower lot size, this way you can manage the chaotic minutes before the real spike appears-

  7. #7
    Quote Originally Posted by ;
    Hi I use the exact same egy but with manual trading, as the unexpected spread widening that happens during high impact news can screw up the bot logic fairly hard. You are able to consider widening your stops and hedge span and start lower lot size, this way you are able to handle the chaotic minutes before the actual spike seems -
    Correct. I am not positive if there were a means to go around the effect of the enormous spreads and huge slippages during major news releases.

    When large effect news emerge, both (i.e. upper and lower) stop losses could be triggered in a minute with huge slippages, so the setup may wind up with 2 x -15 pips ( slippage) in 1 minute.

  8. #8
    Imagine if your 15 pips SL (on the market hedge) is triggered, but the upward spike does not reach the 30 pips TP and the price starts heading down...?

    Also, as a result of elevated spread and major slippages observed during major news the 15 pips SL could be easily filled at -25 or even -35 pips, i.e. the reduction could be even bigger than the profit.

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