Forex trading strategy #16 (Capture Market Opening Pips)
Submitted by User on April 21, 2009 - 00:10.
Submitted by Philipp
I think many of you noticed that price move quite some Pips directly after opening markets in certain countries. So why not taking advantage of these movements and grab a few Pips?
The only problem is how can you know in which direction the market will move?
The answer is quite easy: You don't know.
And there this strategy comes in play:
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Hi philipp,
got a great ea.Please I try opening ea on my metatrader but kept geting alert on "NO News.csv file".As aresult ea disabled.HOW do I resolve this issue.How and Where do I get the News.csv file .I need to get everything in order to start testing this promising ea.secondly, what is the percentage winning ratio? Thanks a lot.
michael.
Hi Philipp,
I got your ea but gets alert messages saying "NO file named News.csv in the folder".ea is disabled. how do I solve this problem.How do I get the News.csv file.thanks.
mike
@michael, @mike: If you don't want to use the news trading function you can use any file which is named News.csv. In my second post I attached a file named News_MarketOpen.zip. In this file is a little description about the settings of the EA and also a News.csv file. Just copy this file into your files folder (explained in the little description).
In the next update (probably next week) I will modify the EA that there is no error but just a warning in your jounal. There are also some other mofications that some of you recommended to me which I will add to my EA.
About the winning percentage: I can't realy say anything about that yet, because I use the EA just since a few weeks and I did not have enough trades for a reliable number. Also it is difficult to backtest because the EA uses 1 min timeframe where you have a lot of data errors. But I can tell you, when I traded this strategy manually it worked quite good (but as I was not able to trade every market open I don't have a winning percentage either).
happy trading,
Philipp
Hallo Phillipp, thank you for sharing this simple system with this forum. I was just wondering whether I can download the EA into the VT Trader platform?
Remlad
Hi Remlad,
I don't know anything about VT Trader, but this ES is designed for MetaTrader. But maybe somebody who uses VT Trader can hlep you.
Happy trading,
Philipp
Dear Philipp,
Thank you for sharing the strategies. I am new to FOREX and they are a great help. In the above strategy, when we calculate the price for Stop Sell and Stop Buy order, do we base the calculation on the lowest/highest price of the last few candles?
Thank you very much in advance.
Yes, it will be the lowest/highest value among the last 2-3 or 5 candles, depending on a chosen time frame.
Thomas
where copy news.cvs file?
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