Snorms News Trading EA

[immy]

I have NEVER touched the SL settings. I believe in following the strategy as given to you with only minor tweaks to suit you. FOMC and NFP has the tendency to create upto and over 100 pips spikes. So my TP for these two news is 10 SL (default never changed) 100TP. I use EU and UJ
for Interest rates i was using 50 but this past GU interest rates had something in it. I used 100 and it hit it bang on. There are two ways of using it. One is to set your TP's and LEAVE. the other is my way, where i look for spikes only. You know that i was trading news before this EA. I have some experience in it. I'm looking for hte first instant spike. if it spikes and halts a little and i have anything over 20, i take it. does not matter if it hits the tp or goes over later. News can go up and down very fast don't want to give away nice 10Rs. If it goes to 95 pips do you think i'll wait for it to go back to 50 and then hope it hits 100 again? nope. i'll take it. thank you very much. which style you use is up to you.

ps: if a news has the potential to produce a 20 pips move. I won't trade it. not enough RR.

[Tomi]

Thank you Immy for ideas. Everything you said are inline with my thoughts. I'll check from forex factory calendar earlier news dates and check what kind of chart behaviour there has been in the last months, to get some experience and make realistic targets.

[ElBarto]

I'm just wondering, if anyone is (still) trading DAX (or any other instrument) at LO (respectively NEO) with Steve's EA?

[Tomi]

Today's news trades:
USD Core Retail Sales m/m
USD PPI m/m
USD Retail Sales m/m
USD Core PPI m/m

2016.08.12_aims_journal_eu_uj_news.png

[immy]

Thanks for the Post, good results mate.. Well chosen. and thansk for sharing

[Tomi]

News trading is fun. I gather history information before taking those. I check few months of charts to see if there have been movement earlier and if it seems that particular red flagged news makes moves -> go for it. ForexFactory calendar shows the dates when particular news occurred in the past.

Some example:

2016.08.18_aims_journal_gu_news.png

[immy]

To All Users of Snorms News Trading EA:

Even though this product is not part of AIMS package, I am more than happy to offer support and guidance to all Members of AIMS Skype Live Trading Room, who own a copy of Snorms News Trading EA.

Moreover Steve is also part of this group so I'm sure he won't hesitate providing support there as well as and when he can spare a minute out of his busy schedule.

[Dave]

Thoroughly impressed by the simplicity of Steve's ATM I'm now interested in this news trader. I'd appreciate any feedback and experiences of those using this EA. My biggest concern is slippage on both open and close, but I recognise this is a broker issue and not a reflection on the EA.
Thanks in advance for any details you're willing to share!

[immy]

Thoroughly impressed by the simplicity of Steve's ATM I'm now interested in this news trader. I'd appreciate any feedback and experiences of those using this EA. My biggest concern is slippage on both open and close, but I recognise this is a broker issue and not a reflection on the EA.
Thanks in advance for any details you're willing to share!

Hi Dave

This is a very good method. The method as well as the coded logic are elegant and robust. I've been sharing this with Hunt members throughout the year. I have a live account on myfxbook dedicated to News Trading. The reason I like this EA is that the concept of this method and my own NEWS trading concept is nearly the same. There are 4 ways to trade news.

1. Straddle/saddle entries (like this EA) bracket the market each side
2. As per AIMS News Strategy the initial spike and pullback (no chart required) and
3. Post News Pullback based on m1 candles and
4. Hunt or Setup 1 after all the news are out on m1 or m5

It all depends on you but number 1 is pretty easy. I only trade the BIG news on EUR/USD and USD/JPY and some GBP/USD news. (I have learned that had I chosen one pair per news, it would have been better)

2016-11-06_11-32-28.png

This Method has experienced 71% profit growth to my account in the last 12 months.

2016-11-06_11-38-18.png

And 12 months is a good enough period to evaluate a method on live accounts.

Here is the link to public account running this method (it does take a few extra trades here and there but with lower lots that does not affect profitability much)

when I run filters and show ONLY NEWS EA trades (a comment that NEWS EA adds to trades by default) then it shows even better figures. But since I've been progressively depositing into the account based on its performance the calculations are a bit complex.

Nevertheless its 71% growth in 13 months with 9 winning months and 4 losing months. The last two months, Sep and Oct were losing months and before that there were two losing months Dec 15 and Jan 16.

We started in Oct Last year, that was a winning month (smaller test lots) followed by a massive explosion of 35% month (risk only 1% per trade) Nov 2015 which was followed by two losing months. Now here without the 35% injection beginners would have ran away and missed the consecutive 8-9 months of profit. So Dec was a loss (actually some mistakes on my side otherwise it was to be a BE month nevermind). Then January was a loser, again here I can actually say i traded some news events I would not normally touch but learning process continues. Then smashing months all the way till august with average 6% per month. then two losing months, sept and oct. And now we have a winning month already with 3.27% in the bag.

Hope this helps...


ps:
(to me this is a gold mine, to dman and eman, and harry and dick, not so much because the moment they bought the license, the strategy experienced drawdowns and so like it goes typically in the world of trading, the trader joins in the wrong time, gets frustrated, leaves ,and the strategy goes into growth mode again

in the end it all depends on a trader's ability to remain consistent. I've noticed people stop using it after they have a couple of bad trades/periods. This is true for any method automated, semi automated or manual.

Those traders will NEVER find success in trading or anything else for that matter. In business we don't always make money on every transaction.

Business and JOBS are different things. A JOB (the salary of a job) is an expense ... (for a business) think about it. While you work for a company, you are a RENT..(because we call a losing trade a rent and paying-out salary is a "money going out" (i.e. a loss) for the company)

Without you, business can't survive. (The work needs to be done) If you hate a losing trade, it's akin to hating paying your employees. The trades we take are our assets, our employees, our inventory... call it what you like... Its all about "a trader's" understanding of what s/he's doing.

Why is one using a strategy and what are its longer term implications. It just does not make sense to me, that if a strategy goes through a drawdown period that it would mean, this strategy does not work. And the worst thing is that most often its the case for traders who are not yet disciplined, they do not possess the ability to follow a plan, never trained themselves for it and on top of that their understanding the strategy is very limited and they expect to turn a 10K account into 100K in 3 months. Actually most even don't think like that. They just think, trade and tomorrow we'll be millionaires. Sorry, that is not going to happen unless you have solid realistic plan in place and an iron clad discipline and "the will" to achieve those goals. But I digress.

[snorm]

Thanks Immy - that's a nice and fair review of the News EA. I would just add that unlike many news trading strategies, this EA straddles the bid/ask price, rather than the bar, which gives lower risk and obviously better returns; when the trades work out of course.

The last two NFPs and FOMC have not delivered much in the way of surprises, so we did indeed experience some DD. Prior to that, the returns were incredible. This week's GBP interest rate news gave a very nice return, to make up for the lacklustre NFP After more than two years of using the EA on my live account, I can say, hand-on-heart, that I'll continue using it for a very long time to come. The occasional DD is expected, as are the more frequent gains.