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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The information in the upper left corner (High, Low, Buy Order, Sell Order, Stoploss, Takeprofit) are no signals for trading. That is just the data which would be used for opening orders if there is a news announcement "now" (when these numbers appear/change).
If you place any order manually the EA won't touch these, because it can only modify/delete orders/trades it placed by itselve.
So if you run the EA you don't need to to anything, as long as you don't get any error (you will see that in jour jounal)/alert (a error window pops up) message.
Just some more general information: If jou have an EA (never minde where from), you will not need to place any trades manually from the information you get from this EA, otherwise it would be no EA but an indicator.
Happy trading,
Philipp
After I got an eMail from one user who tried to test my EA I had to realize that there were still some bugs in it. I fixed those I found and uploaded the ex4- and the mq4-file on my server. If I find any other bugs or somebody reports other bugs to me I will update the files there.
You can download the files here:
News_open.ex4
News_open.mq4
Happy Trading,
Philipp
No pics were found. Please resubmit carefully following the instructions. Thank you.
Hi Philipp, wonderful job and great effort, we salute experts like you guys contribution to this place.
after activating the EA, Found the left portion of screen displaying information (attached pic)and placed order based on that manually
scenario
Sell order 1.5033 S/L 1.5057 T/P 1.5003
Buy order 1.5051 S/L 1.5027 T/P 1.5081
Market activates my sell first and it went +ve then, reverse back my numbers are running in -ve, then hits S/L lost =24, nevertheless my buy order is activated went +ve for some time again roll back down hit S/L
Please tell me how to act in this situation.
As promised I finished the EA. I also added a description for the most important settings and a file with some future news announcements.
This file has to be placed into files folder of your MetaTrader (described in the description). If you want to backtest just place it in the files folder which is located in the tester folder of your MetaTrader.
As this robot would trade with every pair it is attached to make sure you only attach it to the pairs I recommend or you made some research. So you can download the EA here:
News_MarketOpen.zip
Feel free to test and/or modify it, but please notify me via email (my email address can be found in the header of the .mq4-file) if you find any bugs or make any modifications.
Happy Trading,
Philipp
@Luke:
What du you mean with daily strategy?
I can't remember mention anything about that. All I said was that I will make an EA (Expert Advisor = Trading Robot) for this strategy.
@Manus168:
The you will have to wait for just a few weeks from now on. I already finished the EA, but I need to optimize some parts of my code as far as CPU and RAM usage is concerned. After that it needs to be checked, recheckt and checked again that it does exactly what it is meant to do.
Happy trading,
Philipp
thanks for sharing Philipp.. very simple just the way we all like it.. look forward to your daily strategy.
Live the dream.
Luke
we will waiting your EA my Friend, Thanks a lot.
Regards;
Manus168
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