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Thread: FOREX NEWS SPIKE TRADERS: 100% monthly

  1. #11
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    Quote Originally Posted by zalinarashid View Post
    Is there any problem with broker by using this EA ?
    Only with the cranked spreads during news. You can compare spreads from diffrent brokers during news events here, since nfp was yesterday real easy to see. MT4 Spreads

  2. #12
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    Does this EA work with ECN brokers? If no, could you amend it? Thanks!

  3. #13

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    Can someone post a basic set file ...........i cannot get it to take a trade..........takes/shows orders ..but none are ever executed ?

    regards fxloot

  4. #14
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    fxloot , you will have set the EA your self to place trade

    say there is news by 12:30 you set the EA it will trade the news some seconds or minutes

    before news, it will place two pending orders buy and sell,if one tigers the other will be deleted.

    i will send a brief note on how too use it better.

    but i used the EA to trade news spike

  5. #15
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    fxloot , you will have set the EA your self to place trade

    say there is news by 12:30 you set the EA it will trade the news some seconds or minutes

    before news, it will place two pending orders buy and sell,if one tigers the other will be deleted.

    i will send a brief note on how too use it better.

    but i used the EA to trade news spike

  6. #16
    Senior Member
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    READ ME CAREFULLY
    TRY IT FIRST ON A DEMO ACCOUNT UNTIL YOU FULLY UNDERSTAND HOW
    IT WORKS AND VERIFY BY YOURSELF THAT IT WORKS CORRECTLY
    BEFORE PUTTING REAL MONEY IN IT.

    QUICK DESCRIPTION

    The expert advisor can be used for 3 different scenarios, but its main aim is to allow us to trade the news events, which are very volatile and sometimes extreme market conditions. The main idea behind it is to be able to place a straddle (1 long pending order and 1 short pending order) at a pre defined time and distance from price, way before the news event takes place. This is mostly to avoid spreads that widen a few minutes before the events as per the standard practice of all MT4 brokers (or most of them), platform freezing, orders rejection and so on.
    Once the straddle is placed, the EA takes care of adjusting these 2 orders, maintaining a fixed distance from price as price goes on moving, finalizing the positions usually a few minutes (or seconds) before news get released.
    The second use can be to play a narrow range, a sideways market breakout.
    In that case, the straddle is placed immediately using the parameters we have set up.
    Finally, it can be used to simply baby-sit a manual trade already entered, automatically filling in the stops and TP if none is entered.
    The choice is yours.




    BASIC SETTINGS AND HOW TO USE IT

    1. IF YOU WANT TO USE THE EXPERT FOR NEWS
    EVENTS, MAKE SURE TO SET "Enable.News.Trading" TO TRUE AND
    "Place.Straddle.Immediately" TO FALSE.
    IN THAT CASE, ONCE A POSITION IS TRIGGERED, THE EA WILL NOT PLACE ANOTHER STRADDLES AGAIN UNTIL YOU INITIALIZE IT (THIS IS DONE BY CHANGING TIME FRAME OR DISABLING AND ENABLING THE EA AGAIN OR AT THE START OF A NEW DAY AUTOMATICALLY.

    The Stop Orders entered before the news release, either immediately if "Pre.Event.Entry.Seconds"=0 or xxx seconds before the event and they are tracked and adjusted ONCE EVERY MINUTE, from the moment they are entered by the ea until a few seconds before the event (specified by "Stop.Adjusting.Sec.Before.Event" parameter) modifying their entry price, stop loss and take profit, according to current Bid and Ask, if "Adjust.Pending.Orders"=True.
    Once one of them is triggered, the opposite one is removed if "Remove Opposite Order" = True.

    2. IF YOU WANT TO USE THE EXPERT FOR STRADDLING A NARROW RANGE BREAKOUT, UNRELATED TO NEWS, MAKE SURE TO SET "Enable.News.Trading" TO FALSE AND "Place.Straddle.Immediately" TO TRUE. IN THAT CASE, THE EA WILL IMMEDIATELY PLACE THE PENDING ORDERS AND ONCE A POSITION IS TRIGGERED AND CLOSED AT ANY POINT, THE EA WILL PUT A NEW STRADDLE AGAIN.

    In that case, the time event settings will be ignored and the long and short pending orders that will be entered immediately will not be adjusted according to price like they are when this parameter is set to false and we use the ea for news release. This is to be used as a narrow range, low volume breakout strategy like for instance during a ranging Asian period.

    3. IF YOU WANT THE EXPERT TO SIMPLY TAKE CARE
    OF YOUR MANUAL POSITION AND TOTALLY DISABLE
    ANY OTHER STRADDLE FEATURES, MAKE SURE TO SET
    "Enable.News.Trading" TO FALSE AND Place. Straddle. Immediately" TO FALSE.

    Notes:
    The "ShutDown.NOW" parameter will shut down all the trades specified by "ShutDown.What" parameter. On the ea's input tab you can see the possible values but here they are again as a reference.
    ShutDown.What ==>0=Everything,
    1=All Triggered Positions,
    2=Triggered Long
    3=Triggered Short,
    4=All Pending Positions,
    5=Pending Long,
    6=Pending Short

    If "ShutDown.Current.Pair.Only" then the ea will close all trades for the pair on which this parameter was set to true otherwise it will close ALL the trades on ALL the pairs.
    The ea will check the minimum distance allowed from the broker against the trail, stop loss and take profit values specified by the user in the expert parameters tab. If these values are below the allowed distance they will be automatically adjusted to that minimum value Scaling Out. Scaling out will not function when the new parameter “Use.Money.Management” is set to True. Assuming we have a position triggered with 3 lots, either manually or through the Straddle. If we set the "Take.Out.Lots" parameter to 1, then when the position will reach TP1, the expert will close 1 lot. As soon as TP2 is reached, it will close another lot etc...
    How to use the ea so it takes over manually entered trades.
    As soon as a position is manually initiated, the expert will check a few things.

    1. if your position has no SL or TP, it will modify the position and use the StopLoss.Pips and the TakeProfit.Pips to place SL and TP.

    2. Assuming you want to trail a position at 15 pips distance, all you have to do is Set the "Trail. Pips" parameter to 15 or to any other value you see fit.

    3. You will find also 3 other parameters which are related to how the trail will
    behave:
    a) "Trail.Starts.After.BreakEven" If set to true, then your trailing will only start
    after breakeven is accomplished. This parameter is independent from next

    2.
    b) "Move.To.BreakEven.at.pips" You specify here the amount of pips which once your trade is xx pips in profit the ea will move your SL to breakeven. This means that if you set it to 10, the ea will move to BE once you are at +10.

    c) "Move To BreakEven Lock pips" Amount of pips to secure once BE is
    reached. If you set it to 1, then with the previous parameter set to 10, this means the expert will move your SL at +1 once your trade is at +10

    So let's see some scenarios:

    Assuming we want to simply trail a position by 20 pips we can set:
    Trail.Pips=20
    Trail.Starts.After.BreakEven=False
    Move.To.BreakEven.Lock.pips= ANYTHING it isn't needed
    Move.To.BreakEven.at.pips = ANYTHING it isn't needed
    Or
    Trail. Pips =20
    Trail.Starts.After.BreakEven=True
    Move.To.BreakEven.Lock.pips= 1
    Move.To.BreakEven.at.pips = 20
    Assuming we want to trail a position by 15 pips and just securing 1 pip
    once 10 pips of profit are made:
    Trail.Pips=15
    Trail.Starts.After.BreakEven=False
    Move.To.BreakEven.Lock.pips=1
    Move.To.BreakEven.at.pips =10
    Assuming we want to trail a position by 15 pips but only after
    price moves 20 pips in our favor. We also want to at that point
    to secure 5 pips:
    Trail.Pips=15
    Trail.Starts.After.BreakEven=True
    Move.To.BreakEven.Lock.pips=5
    Move.To.BreakEven.at.pips =20
    I guess you've got the idea

    PARAMETERS / INPUTS REVIEW
    Lot.Size
    any value (in pips).
    This is your order size. You can use whatever lot size you want to trade with either full lots or fractional lots (mini or micro) depending on your broker. The value here can be use along with the “Take.Out.Lots” parameter below to allow the EA to support multiple lots positions, fractional or full, as well as scaling out positions (close partial values of the initial lot size).


    Take.Out.Lots

    Any value (in pips). MUST BE AN EXACT MULTIPLE of Lot.Size.
    The value here will be used by the expert advisor to partially close a multi lots position, each time it has to do so, which in turn depends on the various take profit levels below.
    i.e. Lot Size=1.20Take.Out.Lots=0.40 (3 x Take.Out.Lots exactly equals Lot.Size)
    Lot.Size=1.00Take.Out.Lots=0.50 (2 x Take.Out.Lots exactly equals Lot.Size)
    Lot.Size=0.50Take.Out.Lots=0.50 (1 x Take.Out.Lots exactly equals Lot.Size)
    Wrong-> Lot.Size=1.20Take.Out.Lots=0.50 (2, 4 x Take.Out.Lots = Lot.Size)

    Initial.TP1
    any other value (in pips).
    Initial.TP2
    any other value (in pips).
    Initial.TP3
    any other value (in pips).

    These are the 3 different profit targets you can use with the expert. Each value is defined in pips from entry price, but you are not obliged in any way to use all 3 values. This depends on your initial Lot.Size and the Take.Out.Lots parameters. The Initial.TP1 is mandatory and cannot be 0.
    The 2 others can be 0 or any number of pips, depending on how many “sub positions” you want your main trade to be broken in.

    Let’s see some examples to make things clear. What is important to have in mind is that all the values used with these parameters must match. You must give Initial.TP2 a value other than 0 IF your Take.out.Lots value is HALF your Lot.Size (and keep TP3 to 0), and accordingly you must give a value other than 0 to Initial.TP3 if your Take.Out.Lots is exactly at 1/3 than your Lot Size So here are some examples, with combinations for previous and current parameters depending on how you would like your trades to be handled. You can have the EA:

    1. Open a position which will be fully closed in one time, at Initial.TP1 = at +15:
    - Lot.Size= 1.20
    - Initial.TP1 = 15
    - Initial.TP2 = 0
    - Initial.TP3 = 0
    - Take.Out.Lots = 1.20 (Lot. Size)

    2. Open 1 Trade which will be handled in 2 steps (Lot.Size = Take.Out.Lots x 2) and will be partially closed at 2 different times, one portion (0.60 lots) at +15 and remaining at +25:
    - Lot. Size= 1.20
    - Initial.TP1 = 15
    - Initial.TP2 = 25
    - Initial.TP3 = 0
    - Take.Out.Lots = 0.60 (Lot Size / 2)

    3. Open 1 Trade which will be handled in 3 steps (Lot.Size = Take.Out.Lots x 3) and will be partially closed at 3 different times, one portion (0.40 lots) at +15, second portion (0.40 lots) at +25 and remaining at +50:
    - Lot.Size= 1.20
    - Initial.TP1 = 15
    - Initial.TP1 = 25
    - Initial.TP1 = 50
    - Take.Out.Lots = 0.40 (Lot.Size / 3)

    So you can consider Take.Out.Lots as the ‘portion’ of your trade you want to close at each Initial TP level. If the ‘portion’ of your trade is the same as Lot.Size, then your trade will be fully closed when the EA reaches the pips specified in Initial.TP1 If the ‘portion’ is half your lot size, then ˝ of your trade’s lot size will be closed when / if EA reaches Initial.TP1 and the remaining half when / if Initial.TP2 is reached. If the ‘portion’ is one third your lot size, then 1/3rd of your trade’s lot size will be closed when / if EA reaches Initial.TP1, another 1/3rd when / if Initial.TP2 is reached and remaining 1/3rd when / if EA reaches Initial.TP3.

    I hope the ‘relation’ between Lot.Size, Take.Out.Lots and the 3 Initial.TP
    levels is now clear, and you should know when to set a Initial.TP parameter
    to 0, or when to assign a specific value. If not then this is the 1st thing you have to clarify getting in touch with us as soon as possible.

    Stop Loss Pips Longs any value (in pips):

    This is the amount of pips which the expert will use as a stop loss for a long entry you can have different settings for longs and for short positions) ☺
    StopLoss Pips Shorts any value (in pips). This is the amount of pips which the expert will use as a stop loss for a short entry.

    AutoSL Prev Bars to Count:

    0 or any other value (Bars on current period).
    If this parameter is set to any value above 0, then the expert will use that number and check the highs and the lows xx bars ago to automatically set the stop loss for any upcoming trade.

    So if you set it to 6 for instance, and you are on a 30 min chart, the EA will check the high and the low up to 6 bars ago and set the stop loss accordingly either for a short entry or for a long entry.
    Auto.SL.Prev.Bars.TimeFrame:

    0 or any other value (valid chart periods in minutes – 5/15/30/60/240/1440).
    If this parameter is set to any value above 0, then the expert will use that number as time frame to calculate the highs and the lows above, for the stops. If set to 0, then the chart’s time frame is used.

    Trail. Pips:

    Any value (in pips).
    This is the amount of pips which the expert will use to trail a position. This means that when a position will be in profit by the number of pips specified here, the EA will move the initial stop loss level to your entry price (at break even) without ever moving it back again. From that point on, your stop loss will be moved by 1 pip for every additional pip made by price in your favor. If at some point the position is in profit by 35 pips, your stop loss would be at that point 20 pips below price and of course the expert will have secured 15 pips (stop loss would be at your entry price +15 pips). If you use a value of 0, you completely disable the trail mechanism described above. This parameter is also combinable with all the “Breakeven” parameters discussed below.

    Trail.Starts.After.BreakEven: True or False.

    If true, the EA will start trailing a position (discussed with the “Trail.Pips” parameter previously) ONLY when and if, breakeven point is reached. Let’s see an example to catch the difference between true and false here.
    Assume following scenario. We have a long position opened at 1.9300, current price is at 1.9320 and we have set Trail.Pips=15 and Move.To.BreakEven.at.pips = 25.

    If we set Trail.Starts.After.BreakEven to True, then the expert will not move the Stop Loss before price reaches 1.9325. This will happen because we ask the ea to move to breakeven at +25 pips (1.9300 + 0.0025 = 1.9325) so although our trail is set to 15 pips and we do have those 15 pips gain actually, the SL won’t be moved yet.
    On the other hand, if Trail.Starts.After.BreakEven is set to False, then as soon as price reaches 1.9315 (1.9300 + 0.0015 pips Trail), our trail will kick in, and from that point it will follow price pip by pip since in that case Move.To.BreakEven.at.pips will be ignored.

    Move.To.BreakEven.Lock.pip:

    10 or any other value (in pips). You specify here the amount of pips to lock once the amount of pips specified below by the “Move.To.BreakEven.at.pips” parameter is reached.

    Move.To.BreakEven.at.pips:

    15 or any value (in pips). This is used to lock in a profit, when a trade is in profit by the number of pips specified here. Price must exceed breakeven by this number of pips in order to lock in the profit.
    How many pips will be locked is specified by the “Move.To.BreakEven.lock.pips” parameter above.

    Use.Money.Management
    False or True.
    If this option is set to True, then the expert will automatically calculate the lot size for each trade, based on a risk percentage defined below with the “Trade.Maximum.Risk” parameter, your initial Stop Loss and your available equity at the moment of the trade.
    For example, let’s assume you have $10,000 free equity in your account, you want to risk 3% maximum of your equity in any trade (in that case you have set the Trade.Maximum.Risk below to 0.03) and you have set up your stop loss to 40 pips. In that case the expert will calculate your lot size to 0.75 lots. It will then check your broker’s allowance in mini/micro lots and depending on that, it will use 0.75 if micro lots are allowed, 0.80 if mini lots are allowed, otherwise 1 lot.
    In case MM (Money Management) is used, the expert uses only the 1st take profit level (Initial.TP1 parameter) no matter your take out lots size. It will not allow for partial positions to be closed, so you must remember to use the desired / correct value when setting Initial.TP1 and set the other 2 take profit levels to 0 since your trade will be closed in 1 step and only Initial.TP1 will be used.

    Trade.Maximum.Risk
    0.03 Or any other percentage expressed like that (3% => 0.03, 5% => 0.05 etc...).

    Enable News Trading:

    False or True.
    If this option is set to True, then the expert will use all the parameters needed for trading an upcoming news release. If set to true, then the news parameters will be ignored. Set it to false only if you are using the ea either for babysitting a manual position, or for using the ea for an immediate straddle (Set the parameter Place.Straddle.Immediately to
    true – explained below)

    Enable.Auto.News:
    Not used for the moment.

    Distance.From.Price.Longs:
    Any value (in pips). This is the distance from price at which the EA will place the Long entry pending order, either for trading the news, or for the simple straddle.
    Distance.From.Price.Shorts:
    Any value (in pips). This is the distance from price at which the EA will place the Short entry pending order, either for trading the news, or for the simple straddle.

    Event.Start.Hour (*):
    Any value (From 0 to 23). This is the Hour part of the time we expect the news event. Assuming for instance that news is awaited at 13.30, and then we set up this parameter to 13.

    Event.Start.Minutes (*);
    Any value (From 0 to 59). This is the Minute part of the time we expect the news event. Assuming for instance that news is awaited at 13.30, and then we set up this parameter to 30.
    CAUTION (*)
    Both these parameters must be set up based on your broker’s
    chart time. Assuming your broker is on GMT+2 and news are
    expected at 13.30 GMT, this means that you must set up the
    time to 15.30.

    Pre.Event.Entry.Seconds:
    Any value (in seconds). This is the number of seconds BEFORE the news event you want the EA to place the straddle. For instance if you decide to place the straddle 30 minutes before the news release, then you have to put 1800 (30 min x 60 seconds = 1800).


    Stop.Adjusting.Sec.Before.Event:
    Any value (in seconds). This is the number of seconds BEFORE the news event you want the EA to stop adjusting the pending orders that are already placed and activated (Remember the pending orders are automatically adjusted by the EA to keep them at a constant distance from price) every minute. For instance if you decide to stop adjusting 1 minute before the event, then you have to set up this parameter to 60.

    Remove.Opposite.Order: False or True.
    If Set to true, once a pending order get triggered, the opposite one will immediately be removed. Otherwise, opposite pending order will remain in play.

    Adjust.Pending.Orders: False or True.
    If this parameter is set to true, then the EA will automatically adjust the pending orders to keep them at a fixed distance from price until

    Stop.Adjusting.Sec.Before.Event:
    seconds before the event. If set to false, then once the pending orders are placed, they won’t adjust and they will stay at the entry levels.
    .
    Kill.Pending.After.Seconds:
    Any value (in seconds). This is the number of seconds the EA will wait after the event to see if the pending orders are still in play. If they are and this parameter is set to true, it will remove them automatically. Set to 0 to disable the feature.

    Kill.Triggered.After.Seconds:
    Any value (in seconds) This is the number of seconds the EA will wait after the event to see if the triggered order is still in play. If it is, meaning it hasn’t reach its SL or its TP and this parameter is set to true, the position will be closed. Set to 0 to disable the feature.


    Place.Straddle.Immediately: False or True.
    Set it to true if you wish to place a straddle immediately upon EA activation. Must be set to false if you want to trade the news or if you just need to baby-sit a manually entered position.

    COMMENT:

    This is our trading method that makes real money; we are expecting to double our account on 6th Nov. 09, Friday which is NFP report, the news will spikes within 2seconds of release more than 40pips, you can build your dream house, buy your dream car , marry your dream wife if you are not married, and live life to the fullest with this FOREX BOMB Trading formula that will make your broker stand still.

    The first Friday of every month could change your life for better only when you have the formula. Why full of regret in your previous losses, God has giving you salvation today. FOREX is real and money is been made secretly by those who have the formula, we have ensured you regain your confidence to survive in RECENT ECONOMIC DEPRESSION IN OUR COUNTRY trading to make real money in FOREX by the Grace of God. Try this today and your FOREX life will never be same again. We love all Nigeria FOREX Traders and we are out to wipe those tears and Poverty among FX. Traders.

    Do not take this package with unserious hands because it has cost us a lot of dollars to code and programme the system that trade News Spike which has always been looked upon with great fear and as a deadly ground in FOREX perfectly.

    We only trade all High impact News with red color on Forex Factory

  7. #17
    Senior Member
    Join Date
    Dec 2008
    Posts
    501

    Default

    READ ME CAREFULLY
    TRY IT FIRST ON A DEMO ACCOUNT UNTIL YOU FULLY UNDERSTAND HOW
    IT WORKS AND VERIFY BY YOURSELF THAT IT WORKS CORRECTLY
    BEFORE PUTTING REAL MONEY IN IT.

    QUICK DESCRIPTION

    The expert advisor can be used for 3 different scenarios, but its main aim is to allow us to trade the news events, which are very volatile and sometimes extreme market conditions. The main idea behind it is to be able to place a straddle (1 long pending order and 1 short pending order) at a pre defined time and distance from price, way before the news event takes place. This is mostly to avoid spreads that widen a few minutes before the events as per the standard practice of all MT4 brokers (or most of them), platform freezing, orders rejection and so on.
    Once the straddle is placed, the EA takes care of adjusting these 2 orders, maintaining a fixed distance from price as price goes on moving, finalizing the positions usually a few minutes (or seconds) before news get released.
    The second use can be to play a narrow range, a sideways market breakout.
    In that case, the straddle is placed immediately using the parameters we have set up.
    Finally, it can be used to simply baby-sit a manual trade already entered, automatically filling in the stops and TP if none is entered.
    The choice is yours.




    BASIC SETTINGS AND HOW TO USE IT

    1. IF YOU WANT TO USE THE EXPERT FOR NEWS
    EVENTS, MAKE SURE TO SET "Enable.News.Trading" TO TRUE AND
    "Place.Straddle.Immediately" TO FALSE.
    IN THAT CASE, ONCE A POSITION IS TRIGGERED, THE EA WILL NOT PLACE ANOTHER STRADDLES AGAIN UNTIL YOU INITIALIZE IT (THIS IS DONE BY CHANGING TIME FRAME OR DISABLING AND ENABLING THE EA AGAIN OR AT THE START OF A NEW DAY AUTOMATICALLY.

    The Stop Orders entered before the news release, either immediately if "Pre.Event.Entry.Seconds"=0 or xxx seconds before the event and they are tracked and adjusted ONCE EVERY MINUTE, from the moment they are entered by the ea until a few seconds before the event (specified by "Stop.Adjusting.Sec.Before.Event" parameter) modifying their entry price, stop loss and take profit, according to current Bid and Ask, if "Adjust.Pending.Orders"=True.
    Once one of them is triggered, the opposite one is removed if "Remove Opposite Order" = True.

    2. IF YOU WANT TO USE THE EXPERT FOR STRADDLING A NARROW RANGE BREAKOUT, UNRELATED TO NEWS, MAKE SURE TO SET "Enable.News.Trading" TO FALSE AND "Place.Straddle.Immediately" TO TRUE. IN THAT CASE, THE EA WILL IMMEDIATELY PLACE THE PENDING ORDERS AND ONCE A POSITION IS TRIGGERED AND CLOSED AT ANY POINT, THE EA WILL PUT A NEW STRADDLE AGAIN.

    In that case, the time event settings will be ignored and the long and short pending orders that will be entered immediately will not be adjusted according to price like they are when this parameter is set to false and we use the ea for news release. This is to be used as a narrow range, low volume breakout strategy like for instance during a ranging Asian period.

    3. IF YOU WANT THE EXPERT TO SIMPLY TAKE CARE
    OF YOUR MANUAL POSITION AND TOTALLY DISABLE
    ANY OTHER STRADDLE FEATURES, MAKE SURE TO SET
    "Enable.News.Trading" TO FALSE AND Place. Straddle. Immediately" TO FALSE.

    Notes:
    The "ShutDown.NOW" parameter will shut down all the trades specified by "ShutDown.What" parameter. On the ea's input tab you can see the possible values but here they are again as a reference.
    ShutDown.What ==>0=Everything,
    1=All Triggered Positions,
    2=Triggered Long
    3=Triggered Short,
    4=All Pending Positions,
    5=Pending Long,
    6=Pending Short

    If "ShutDown.Current.Pair.Only" then the ea will close all trades for the pair on which this parameter was set to true otherwise it will close ALL the trades on ALL the pairs.
    The ea will check the minimum distance allowed from the broker against the trail, stop loss and take profit values specified by the user in the expert parameters tab. If these values are below the allowed distance they will be automatically adjusted to that minimum value Scaling Out. Scaling out will not function when the new parameter “Use.Money.Management” is set to True. Assuming we have a position triggered with 3 lots, either manually or through the Straddle. If we set the "Take.Out.Lots" parameter to 1, then when the position will reach TP1, the expert will close 1 lot. As soon as TP2 is reached, it will close another lot etc...
    How to use the ea so it takes over manually entered trades.
    As soon as a position is manually initiated, the expert will check a few things.

    1. if your position has no SL or TP, it will modify the position and use the StopLoss.Pips and the TakeProfit.Pips to place SL and TP.

    2. Assuming you want to trail a position at 15 pips distance, all you have to do is Set the "Trail. Pips" parameter to 15 or to any other value you see fit.

    3. You will find also 3 other parameters which are related to how the trail will
    behave:
    a) "Trail.Starts.After.BreakEven" If set to true, then your trailing will only start
    after breakeven is accomplished. This parameter is independent from next

    2.
    b) "Move.To.BreakEven.at.pips" You specify here the amount of pips which once your trade is xx pips in profit the ea will move your SL to breakeven. This means that if you set it to 10, the ea will move to BE once you are at +10.

    c) "Move To BreakEven Lock pips" Amount of pips to secure once BE is
    reached. If you set it to 1, then with the previous parameter set to 10, this means the expert will move your SL at +1 once your trade is at +10

    So let's see some scenarios:

    Assuming we want to simply trail a position by 20 pips we can set:
    Trail.Pips=20
    Trail.Starts.After.BreakEven=False
    Move.To.BreakEven.Lock.pips= ANYTHING it isn't needed
    Move.To.BreakEven.at.pips = ANYTHING it isn't needed
    Or
    Trail. Pips =20
    Trail.Starts.After.BreakEven=True
    Move.To.BreakEven.Lock.pips= 1
    Move.To.BreakEven.at.pips = 20
    Assuming we want to trail a position by 15 pips and just securing 1 pip
    once 10 pips of profit are made:
    Trail.Pips=15
    Trail.Starts.After.BreakEven=False
    Move.To.BreakEven.Lock.pips=1
    Move.To.BreakEven.at.pips =10
    Assuming we want to trail a position by 15 pips but only after
    price moves 20 pips in our favor. We also want to at that point
    to secure 5 pips:
    Trail.Pips=15
    Trail.Starts.After.BreakEven=True
    Move.To.BreakEven.Lock.pips=5
    Move.To.BreakEven.at.pips =20
    I guess you've got the idea

    PARAMETERS / INPUTS REVIEW
    Lot.Size
    any value (in pips).
    This is your order size. You can use whatever lot size you want to trade with either full lots or fractional lots (mini or micro) depending on your broker. The value here can be use along with the “Take.Out.Lots” parameter below to allow the EA to support multiple lots positions, fractional or full, as well as scaling out positions (close partial values of the initial lot size).


    Take.Out.Lots

    Any value (in pips). MUST BE AN EXACT MULTIPLE of Lot.Size.
    The value here will be used by the expert advisor to partially close a multi lots position, each time it has to do so, which in turn depends on the various take profit levels below.
    i.e. Lot Size=1.20Take.Out.Lots=0.40 (3 x Take.Out.Lots exactly equals Lot.Size)
    Lot.Size=1.00Take.Out.Lots=0.50 (2 x Take.Out.Lots exactly equals Lot.Size)
    Lot.Size=0.50Take.Out.Lots=0.50 (1 x Take.Out.Lots exactly equals Lot.Size)
    Wrong-> Lot.Size=1.20Take.Out.Lots=0.50 (2, 4 x Take.Out.Lots = Lot.Size)

    Initial.TP1
    any other value (in pips).
    Initial.TP2
    any other value (in pips).
    Initial.TP3
    any other value (in pips).

    These are the 3 different profit targets you can use with the expert. Each value is defined in pips from entry price, but you are not obliged in any way to use all 3 values. This depends on your initial Lot.Size and the Take.Out.Lots parameters. The Initial.TP1 is mandatory and cannot be 0.
    The 2 others can be 0 or any number of pips, depending on how many “sub positions” you want your main trade to be broken in.

    Let’s see some examples to make things clear. What is important to have in mind is that all the values used with these parameters must match. You must give Initial.TP2 a value other than 0 IF your Take.out.Lots value is HALF your Lot.Size (and keep TP3 to 0), and accordingly you must give a value other than 0 to Initial.TP3 if your Take.Out.Lots is exactly at 1/3 than your Lot Size So here are some examples, with combinations for previous and current parameters depending on how you would like your trades to be handled. You can have the EA:

    1. Open a position which will be fully closed in one time, at Initial.TP1 = at +15:
    - Lot.Size= 1.20
    - Initial.TP1 = 15
    - Initial.TP2 = 0
    - Initial.TP3 = 0
    - Take.Out.Lots = 1.20 (Lot. Size)

    2. Open 1 Trade which will be handled in 2 steps (Lot.Size = Take.Out.Lots x 2) and will be partially closed at 2 different times, one portion (0.60 lots) at +15 and remaining at +25:
    - Lot. Size= 1.20
    - Initial.TP1 = 15
    - Initial.TP2 = 25
    - Initial.TP3 = 0
    - Take.Out.Lots = 0.60 (Lot Size / 2)

    3. Open 1 Trade which will be handled in 3 steps (Lot.Size = Take.Out.Lots x 3) and will be partially closed at 3 different times, one portion (0.40 lots) at +15, second portion (0.40 lots) at +25 and remaining at +50:
    - Lot.Size= 1.20
    - Initial.TP1 = 15
    - Initial.TP1 = 25
    - Initial.TP1 = 50
    - Take.Out.Lots = 0.40 (Lot.Size / 3)

    So you can consider Take.Out.Lots as the ‘portion’ of your trade you want to close at each Initial TP level. If the ‘portion’ of your trade is the same as Lot.Size, then your trade will be fully closed when the EA reaches the pips specified in Initial.TP1 If the ‘portion’ is half your lot size, then ˝ of your trade’s lot size will be closed when / if EA reaches Initial.TP1 and the remaining half when / if Initial.TP2 is reached. If the ‘portion’ is one third your lot size, then 1/3rd of your trade’s lot size will be closed when / if EA reaches Initial.TP1, another 1/3rd when / if Initial.TP2 is reached and remaining 1/3rd when / if EA reaches Initial.TP3.

    I hope the ‘relation’ between Lot.Size, Take.Out.Lots and the 3 Initial.TP
    levels is now clear, and you should know when to set a Initial.TP parameter
    to 0, or when to assign a specific value. If not then this is the 1st thing you have to clarify getting in touch with us as soon as possible.

    Stop Loss Pips Longs any value (in pips):

    This is the amount of pips which the expert will use as a stop loss for a long entry you can have different settings for longs and for short positions) ☺
    StopLoss Pips Shorts any value (in pips). This is the amount of pips which the expert will use as a stop loss for a short entry.

    AutoSL Prev Bars to Count:

    0 or any other value (Bars on current period).
    If this parameter is set to any value above 0, then the expert will use that number and check the highs and the lows xx bars ago to automatically set the stop loss for any upcoming trade.

    So if you set it to 6 for instance, and you are on a 30 min chart, the EA will check the high and the low up to 6 bars ago and set the stop loss accordingly either for a short entry or for a long entry.
    Auto.SL.Prev.Bars.TimeFrame:

    0 or any other value (valid chart periods in minutes – 5/15/30/60/240/1440).
    If this parameter is set to any value above 0, then the expert will use that number as time frame to calculate the highs and the lows above, for the stops. If set to 0, then the chart’s time frame is used.

    Trail. Pips:

    Any value (in pips).
    This is the amount of pips which the expert will use to trail a position. This means that when a position will be in profit by the number of pips specified here, the EA will move the initial stop loss level to your entry price (at break even) without ever moving it back again. From that point on, your stop loss will be moved by 1 pip for every additional pip made by price in your favor. If at some point the position is in profit by 35 pips, your stop loss would be at that point 20 pips below price and of course the expert will have secured 15 pips (stop loss would be at your entry price +15 pips). If you use a value of 0, you completely disable the trail mechanism described above. This parameter is also combinable with all the “Breakeven” parameters discussed below.

    Trail.Starts.After.BreakEven: True or False.

    If true, the EA will start trailing a position (discussed with the “Trail.Pips” parameter previously) ONLY when and if, breakeven point is reached. Let’s see an example to catch the difference between true and false here.
    Assume following scenario. We have a long position opened at 1.9300, current price is at 1.9320 and we have set Trail.Pips=15 and Move.To.BreakEven.at.pips = 25.

    If we set Trail.Starts.After.BreakEven to True, then the expert will not move the Stop Loss before price reaches 1.9325. This will happen because we ask the ea to move to breakeven at +25 pips (1.9300 + 0.0025 = 1.9325) so although our trail is set to 15 pips and we do have those 15 pips gain actually, the SL won’t be moved yet.
    On the other hand, if Trail.Starts.After.BreakEven is set to False, then as soon as price reaches 1.9315 (1.9300 + 0.0015 pips Trail), our trail will kick in, and from that point it will follow price pip by pip since in that case Move.To.BreakEven.at.pips will be ignored.

    Move.To.BreakEven.Lock.pip:

    10 or any other value (in pips). You specify here the amount of pips to lock once the amount of pips specified below by the “Move.To.BreakEven.at.pips” parameter is reached.

    Move.To.BreakEven.at.pips:

    15 or any value (in pips). This is used to lock in a profit, when a trade is in profit by the number of pips specified here. Price must exceed breakeven by this number of pips in order to lock in the profit.
    How many pips will be locked is specified by the “Move.To.BreakEven.lock.pips” parameter above.

    Use.Money.Management
    False or True.
    If this option is set to True, then the expert will automatically calculate the lot size for each trade, based on a risk percentage defined below with the “Trade.Maximum.Risk” parameter, your initial Stop Loss and your available equity at the moment of the trade.
    For example, let’s assume you have $10,000 free equity in your account, you want to risk 3% maximum of your equity in any trade (in that case you have set the Trade.Maximum.Risk below to 0.03) and you have set up your stop loss to 40 pips. In that case the expert will calculate your lot size to 0.75 lots. It will then check your broker’s allowance in mini/micro lots and depending on that, it will use 0.75 if micro lots are allowed, 0.80 if mini lots are allowed, otherwise 1 lot.
    In case MM (Money Management) is used, the expert uses only the 1st take profit level (Initial.TP1 parameter) no matter your take out lots size. It will not allow for partial positions to be closed, so you must remember to use the desired / correct value when setting Initial.TP1 and set the other 2 take profit levels to 0 since your trade will be closed in 1 step and only Initial.TP1 will be used.

    Trade.Maximum.Risk
    0.03 Or any other percentage expressed like that (3% => 0.03, 5% => 0.05 etc...).

    Enable News Trading:

    False or True.
    If this option is set to True, then the expert will use all the parameters needed for trading an upcoming news release. If set to true, then the news parameters will be ignored. Set it to false only if you are using the ea either for babysitting a manual position, or for using the ea for an immediate straddle (Set the parameter Place.Straddle.Immediately to
    true – explained below)

    Enable.Auto.News:
    Not used for the moment.

    Distance.From.Price.Longs:
    Any value (in pips). This is the distance from price at which the EA will place the Long entry pending order, either for trading the news, or for the simple straddle.
    Distance.From.Price.Shorts:
    Any value (in pips). This is the distance from price at which the EA will place the Short entry pending order, either for trading the news, or for the simple straddle.

    Event.Start.Hour (*):
    Any value (From 0 to 23). This is the Hour part of the time we expect the news event. Assuming for instance that news is awaited at 13.30, and then we set up this parameter to 13.

    Event.Start.Minutes (*);
    Any value (From 0 to 59). This is the Minute part of the time we expect the news event. Assuming for instance that news is awaited at 13.30, and then we set up this parameter to 30.
    CAUTION (*)
    Both these parameters must be set up based on your broker’s
    chart time. Assuming your broker is on GMT+2 and news are
    expected at 13.30 GMT, this means that you must set up the
    time to 15.30.

    Pre.Event.Entry.Seconds:
    Any value (in seconds). This is the number of seconds BEFORE the news event you want the EA to place the straddle. For instance if you decide to place the straddle 30 minutes before the news release, then you have to put 1800 (30 min x 60 seconds = 1800).


    Stop.Adjusting.Sec.Before.Event:
    Any value (in seconds). This is the number of seconds BEFORE the news event you want the EA to stop adjusting the pending orders that are already placed and activated (Remember the pending orders are automatically adjusted by the EA to keep them at a constant distance from price) every minute. For instance if you decide to stop adjusting 1 minute before the event, then you have to set up this parameter to 60.

    Remove.Opposite.Order: False or True.
    If Set to true, once a pending order get triggered, the opposite one will immediately be removed. Otherwise, opposite pending order will remain in play.

    Adjust.Pending.Orders: False or True.
    If this parameter is set to true, then the EA will automatically adjust the pending orders to keep them at a fixed distance from price until

    Stop.Adjusting.Sec.Before.Event:
    seconds before the event. If set to false, then once the pending orders are placed, they won’t adjust and they will stay at the entry levels.
    .
    Kill.Pending.After.Seconds:
    Any value (in seconds). This is the number of seconds the EA will wait after the event to see if the pending orders are still in play. If they are and this parameter is set to true, it will remove them automatically. Set to 0 to disable the feature.

    Kill.Triggered.After.Seconds:
    Any value (in seconds) This is the number of seconds the EA will wait after the event to see if the triggered order is still in play. If it is, meaning it hasn’t reach its SL or its TP and this parameter is set to true, the position will be closed. Set to 0 to disable the feature.


    Place.Straddle.Immediately: False or True.
    Set it to true if you wish to place a straddle immediately upon EA activation. Must be set to false if you want to trade the news or if you just need to baby-sit a manually entered position.

    COMMENT:

    This is our trading method that makes real money; we are expecting to double our account on 6th Nov. 09, Friday which is NFP report, the news will spikes within 2seconds of release more than 40pips, you can build your dream house, buy your dream car , marry your dream wife if you are not married, and live life to the fullest with this FOREX BOMB Trading formula that will make your broker stand still.

    The first Friday of every month could change your life for better only when you have the formula. Why full of regret in your previous losses, God has giving you salvation today. FOREX is real and money is been made secretly by those who have the formula, we have ensured you regain your confidence to survive in RECENT ECONOMIC DEPRESSION IN OUR COUNTRY trading to make real money in FOREX by the Grace of God. Try this today and your FOREX life will never be same again. We love all Nigeria FOREX Traders and we are out to wipe those tears and Poverty among FX. Traders.

    Do not take this package with unserious hands because it has cost us a lot of dollars to code and programme the system that trade News Spike which has always been looked upon with great fear and as a deadly ground in FOREX perfectly.

    We only trade all High impact News with red color on Forex Factory

  8. #18
    Member
    Join Date
    Jun 2010
    Location
    USA
    Posts
    386

    Default

    Thanks for the manual. You are very famous! Is this EA is the one that Turn $1800 To $6,000 in 6 Days ?
    Last edited by 4x4me; 08-08-2010 at 17:40.

  9. #19

    Default

    Thankyou........... regards fxloot

  10. #20
    Senior Member
    Join Date
    Dec 2008
    Posts
    501

    Default

    yes, the EA did that for real

    ZRK the EA can now be used with ECN

    check the version 4 on this thread,

    we need to find broker that allow it without increasing spread.

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