Forex News Trader is a unique robot that allows you to trade the news by your predefined strategy. It loads every piece of news from several popular Forex websites. You can choose any news and preset the strategy to trade it, and then Forex News Trader will trade that news by selected strategy automatically when the news comes.
This tool uses unique technology to load data with full details from popular forex websites. Currently, it supports 3 news feed data sources: ForexFactory.com, DailyFx.com and Myfxbook.com. An alert will be sent to your mobile/email before an upcoming news release. Moreover, it also marks the news release points on the chart for further review and research.
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Forex News Trader support up to 5 advanced strategies that effective with news trading. The order controlling is very professional and absolute automated. Moreover, you can use it as a powerful tool to trade manually with those automated strategies.
News release gives opportunity to have pips since the price usually has big move at that time. Now, with this tool, trading news becomes easier, more flexible and more exciting than ever. No waiting, no missing, no confusing anymore. Just setup for important news once a week, and this tool will trade all those news exactly as you planned.
This is frequently asked questions (FAQ) and our answers relate to features of product Forex News Trader (FNT). For other general FAQ, please check at our main FAQ area. If you have further concern, please leave your question at our contact page.
Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
News Trader opens one or two trades (Buy and Sell by default) some time before the news announcement (10 seconds by default). It applies stop-loss and take-profit levels according to the input parameters given by a trader. If requested by the trader, the EA continues to modify stop-loss and take-profit levels until the very release of the news to keep them relevant to the current price. When the news is out, the expert advisor will apply trailing stop according to the trader's choice. If one or both trades remain active one hour (by default) after the news, the EA closes them.
The chart screenshot shows the EA operation during and after the US and Canadian monthly employment reports combined with the Canadian trade balance report. The news came out at 8:30 EST on December 4, 2015.
The currency rate gapped up after the news, executing the Sell position's stop-loss. Unfortunately, it does not reach the take-profit of the Buy trade. The position is closed by timeout one hour after the news release (blue arrow pointing left). The profit was about three times the loss in this case, which is good but not great. Apparently, it could be bigger if a tighter take-profit was used.
The expert advisor can use Average True Range indicator to automatically choose stop-loss and take-profit levels for a news trade base on the preceding volatility of the currency pair. ATR value is calculated based on the given period. The stop-loss and take-profit are then calculated based on separate multipliers before entering opening a position.
Any big news are good for this EA: interest rate decisions, central bank minutes releases, CPI, GDP, trade balance, employment reports, etc. The more important the news the better the chance to hit take-profit.
I recommend setting 10 standard pips stop-loss and 50 pips take-profit on such news as GDP, CPI, or retail sales. 15-20 pips stop-loss and 75-100 pips take-profit on such news as FOMC rate decision, FOMC minutes, or NFP.
It can work with all trading instruments, but I recommend using it with very liquid currency pairs only: EUR/USD, GBP/USD, USD/CAD, NZD/USD, etc. Slippage and spread widening on exotic currency pairs may result in premature stop-loss execution.
This EA is ECN-compatible. If you are trading with an ECN broker (with market execution for orders), you cannot set SL/TP on position opening. You have to open a position first without SL/TP and only then modify it, adding stop-loss and/or take-profit level. This EA will do it automatically.
Trading the news is a technique to trade equities, currencies and other financial instruments on the financial markets. Trading news releases can be a significant tool for financial investors. Economic news reports often spur strong short-term moves in the markets, which may create trading opportunities for traders. Announcements about corporate profits, a change in management, rumors of a merger, are events that can cause a company's share price to move wildly up or down. Interest rates, unemployment and export rates, or the central bank's policy shifts, can cause a deep change of an exchange rate.
Event-based algorithmic trading, also known as programmed trading, is not a new phenomenon. This trading technique has been increasing in popularity since the early 2000s. As of 2009, studies suggested HFT firms accounted for 60-73% of all US equity trading volume, with that number falling to approximately 50% in 2012.[1][2] Algorithmic trading allows investors to fine-tune their computers to scan live news feeds and watch for items affecting any listed company.
Social information is now as powerful as proprietary data feeds. Today social networks are more than just a space to communicate and share ideas, it has become the information source that can rock financial markets to their ground. Twitter alone provides an enormous opportunity for investors and traders:
News trading has been becoming increasingly popular among Forex traders because it offers opportunities to make large profits within a relatively short period of time. However, just like not all fingers are not the same, not all macroeconomic news events have a similar impact on the market. For example, the German Flash Manufacturing PMI will always have more impact on the Euro compared to the French Flash Manufacturing PMI.
Compared to low impact news like the CB Leading Index, the unemployment rate of Australia or the overnight cash rate set by the Reserve Bank of Australia (RBA) will have a severe consequence on the rate of AUD/USD or any other currency pair involving the Australian Dollar.
So, out of the hundreds of news releases, how do you know which news events you should keep an eye on? The good news is, just like the Pareto principle, only a handful of news releases are responsible for the bulk of the price movement for most currency pairs. Some of these news events are common for almost all currencies and if you can just understand how these affect your favorite currency pair, then you will be far ahead as a trader than most novice traders who are only looking at a chart.
One of the key responsibilities of the central banks around the world is to maintain a low unemployment rate. All of the major monetary policy decisions taken by any central bank is to keep it near the Non-Accelerating Inflation Rate of Unemployment or NAIRU.
If you see a consensus forecast saying the unemployment rate of the European Union would go down next month, but it would remain unchanged in the United Kingdom, you can consider it as bullish news for the EUR/GBP.
The Gross Domestic Product (GDP) is like the scorecard for a game. It measures the overall health of an economy and the higher the GDP growth rate, the stronger the currency would be. If you are trading the GBP/USD, just by keeping an eye on the GDP growth of the US and the UK, you can easily figure out which way the pair would move in the coming weeks.
The Consumer Price Index (CPI) measures the inflation rate in the economy compared to a base year. You do not need to be an economist to understand how inflation affects a given set of currency pair, but some basic understanding would help you go the extra mile. You see, most central banks have a monetary policy that tries to limit inflation rate to a certain predefined range. When inflation goes above this range, central banks usually increase the interest rate to curb down inflation.
Most central banks try to limit inflation rate to 2.0% and use the CPI to measure it. However, the Federal Reserve, the central bank of the USA, uses the Personal Consumption Expenditure index instead of CPI. So, if you are trading the U.S. Dollar and want to anticipate the future interest rate landscape, use the PCE index.
Nevertheless, anytime you see a forecast of growing CPI, it would be bullish news for the currency. For example, if the forecast for CPI of UK is 2.5% for a quarter, and the CPI of Australia remains at 1.5%, then it will have a bullish effect on the GBP/AUD.
You see, banks also borrow money from each other, but they do it on an overnight basis. Central banks try to influence the overnight rate by lending in the money market at their own overnight rate and it is an important tool in their monetary policy arsenal.
Overnight interest rate is the key reason prices fluctuate in the market as it also affects the swap rate. In fact, many traders think that the main purpose of fundamental analysis is to predict future interest rates of major central banks.
While understanding monetary policy is difficult, even for veteran economists, the way to interpret this news is rather easy. If you see a forecast that says the Federal Reserve will likely increase the overnight rate, it will likely have a bullish effect on the U.S. Dollar. So, for example, if the Japanese Central Bank keeps its rate unchanged, it will be a piece of bullish news for the USD/JPY. 152ee80cbc
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