Make profit out of major news situations like NFP or ECB – with MeetAlgo News Trading!
News trading is one of the most difficult disciplines – but it can also be one of the most profitable ones if you know the right method. It is true, nobody can predict figures delivered by a major news event like NFP or ECB decisions. And even if you knew the results – nobody knows how the market will react to the news. In fact, most of the time there are as many reasons for the market coming out bullish as there are for a bearish result.
The best way to take profit out of news events is to wait until the market has developed a trend after the news event. At the time when news is released, volatility rises, so you have to be sure not to enter the market too early. So at the moment news is published (or a few seconds before), you set a pending STOP BUY order in the bullish direction and a pending STOP SELL order in the bearish direction – at a certain distance from market price (best distance depends on what news event you are trading). Then you wait until the market decides to go in one direction and follow it. If you are right, your profit will be a multiple factor of your risk according to your specific stop loss. It is mostly appropriate to put stop loss at the other side of your pending order’s range.
MeetAlgo News Trading helps you automate such news trading almost completely. With MeetAlgo News Trading you can open one or more pending orders at news time (of course you can also open market orders at a specific time). You are in full control of the news event. You enter the time when news comes out (date and time when pending orders are opened), control the distance between market price and STOP BUY / STOP SELL, establish STOP LOSS and TAKE PROFIT depending on price of trade opening and delete opposite pending order if one order is triggered (OCO, one cancels other). You even have the comfortable choice between several ways to save your profit like moving STOP LOSS to break even after trend has gone some distance in the right direction or establishing a TRAILING STOP LOSS at a predefined distance.
With MeetAlgo News Trading, you can setup a SCHEDULE of news events you want to trade. You have the choice between trading a weekly schedule (trade on a certain day of the week, e.g. every Friday) or enter a certain date and time (like the date and time of NFP release) to place your orders (you can place up to 8 different dates in advance). After the news event, you can setup a time frame after which your pending orders are deleted (e.g. if the trend has not established within 30 minutes) or when your active trades should be closed (e.g. at the end of the day).
The EA performs the following tasks
- It can open pending/instant orders at a given distance from the current price by the one-click panel.
- It can open pending/instant orders at a specific day (like on a weekly schedule) and time.
- It can delete opposite pending orders if one order is triggered (OCO) (optional).
- It can delete/close pending/instant orders at a specific date/time (optional).
- This EA can work on a pair or an index.
Other cool features are
- One-click trading panel.
- Auto download news time from news website.
- Check the product in the strategy tester in Visualization mode.
- You can set Maximum Spread to open a pending order (useful for news traders).
- Integrated money management: auto lot sizing (optional).
- You can set a pending order by a floating price.
- Delete a pending order when the opposite pending order is active (true/false).
MeetAlgo News Trading helps you keep your equity safe! A define money management gives you the possibility to risk only a predefined percentage of your equity on one trade. Features like limitation of spread widening and slippage help you be safe even in extreme news situations. And the best (one thing most other News Trading EA’s don’t have): MeetAlgo News Trading eliminates the necessity to stay near your PC during news releases. Placing orders, opening, maintenance, closing or deleting orders — MeetAlgo News Trading will do it for you.