List of Recommended Pairs For Forex News Trading

GUIDELINES: The recommended pairs were derived from the historical behavioral pattern of currency pairs during

Automatic News Trading EA

news release taking into consideration the economy outlook of the strength and weakness of the pairs. 

To trade the news e.g. Australian Building Approval i would pair the (AUD) with any of the recommended pairs like USD, or JPY. I strongly advise trading against the weaker pairs for anticipated positive outcome on the major currencies, and counter/opposite or middle/stronger pairs for anticipated negative outcome. For more guidelines: See the article on how i trade the news Part 1, 2 & 3. 

Please see risk disclaimer notice below before applying any of these recommendations.

Type in the box below to Find or Filter news in the table

S/N	COUNTRY	NEWS	RECOMMENDED PAIRS
1	Australia (AUD)	Building Approvals	USD, JPY, CHF, NZD
2	Australia (AUD)	Retail Sales m/m	USD, JPY, CAD, CHF, NZD
3	Australia (AUD)	Employment Change	USD, CAD, JPY, EUR, NZD
4	Australia (AUD)	Unemployment Rate	USD, CAD, JPY, EUR, NZD
5	Australia (AUD)	CPI q/q	USD, CAD, JPY, EUR, NZD
6	Australia (AUD)	RBNZ Rate Statement	USD, JPY, NZD, CAD
7	Australia (AUD)	PPI q/q	USD, JPY
8	Australia (AUD)	RBA Rate Statement	USD, JPY, EUR, CAD
9	Australia (AUD)	Trade Balance	USD, CAD, JPY
10	Canada (CAD)	Trade Balance	USD, GBP, JPY, EUR
11	Canada (CAD)	Ivey PMI	USD, GBP, JPY, EUR
12	Canada (CAD)	Building Permits	USD, GBP, JPY
13	Canada (CAD)	Employment Change	USD, GBP, JPY, CHF, AUD
14	Canada (CAD)	Unemployment Rate	USD, GBP, JPY, CHF, AUD
15	Canada (CAD)	Manufacturing Sales m/m	USD, GBP, JPY
16	Canada (CAD)	Bank of Canada (BOC) Monetary Policy Report	USD, GBP, JPY, CHF, AUD
17	Canada (CAD)	Bank of Canada (BOC) Rate Statement	USD, GBP, JPY, CHF, AUD
18	Canada (CAD)	Bank of Canada (BOC) Press Conference	USD, GBP, JPY, CHF, AUD
19	Canada (CAD)	Core Retail Sales m/m	USD, GBP, JPY, CHF, AUD
20	Canada (CAD)	Retail Sales m/m	USD, GBP, JPY
21	Canada (CAD)	Core CPI m/m	USD, GBP, JPY, CHF, AUD
22	Canada (CAD)	GDP m/m	USD, JPY, GBP, EUR, AUD
23	China (CNY)	Manufacturing PMI	USD, GBP, EUR, CAD
24	China (CNY)	CPI y/y	USD, GBP, CHF, EUR, CAD
25	China (CNY)	PPI y/y	USD, GBP, CHF
26	China (CNY)	Trade Balance	USD, GBP, EUR
27	China (CNY)	GDP q/q	USD, GBP, CAD, CHF, AUD
28	China (CNY)	HSBC Flash Manufacturing PMI	USD, GBP, EUR, CAD
29	Euro (EUR)	French Flash Manufacturing PMI	USD, GBP, JPY
30	Euro Zone (EUR)	CPI Flash Estimate y/y	USD, GBP, JPY, CAD
31	Euro Zone (EUR)	Core CPI Flash Estimate y/y	USD, GBP
32	Euro Zone (EUR)	Retail Sales m/m	USD, GBP, JPY, CAD
33	Euro Zone (EUR)	Unemployment Rate	USD, GBP, JPY, AUD, CAD
34	Euro Zone (EUR)	ECB Press Conference	USD, GBP, JPY, CAD, AUD, GOLD, CHF
35	Euro Zone (EUR)	ECB President Draghi Speaks	USD, JPY, GBP, AUD, CAD, GOLD
36	France (CHF)	CPI m/m	USD, JPY, GBP, CAD
37	German States (EUR)	German Prelim CPI m/m	USD, GBP, JPY, AUD, CAD
38	Germany (EUR)	German Retail Sales m/m	USD, GBP, JPY, CAD
39	Germany (EUR)	German ZEW Economic Sentiment	USD, GBP, JPY, CAD
40	Germany (EUR)	German Flash Manufacturing PMI	USD, GBP, JPY
41	Japan (JPY)	Monetary Policy Statement	USD, GBP, EUR
42	Japan (JPY)	Bank of Japan (BOJ) Press Conference	USD, GBP, EUR, CAD
43	New Zealand (NZD)	CPI q/q	USD, JPY, AUD, CHF
44	New Zealand (NZD)	Trade Balance	USD, JPY, CHF, AUD
45	New Zealand (NZD)	Reserve Bank of New Zealand (RBNZ) Governor Speech	USD, JPY, CHF
46	New Zealand (NZD)	Employment Change q/q	USD, JPY, CHF, AUD
47	New Zealand (NZD)	Unemployment Rate	USD, JPY, CHF, AUD
48	UK (GBP)	Manufacturing PMI	USD, CAD, JPY, EUR
49	UK (GBP)	Construction PMI	USD, CAD, EUR, JPY
50	UK (GBP)	Services PMI	USD, CAD, EUR, JPY
51	UK (GBP)	Halifax HPI m/m	USD, JPY, EUR
52	UK (GBP)	Manufacturing Production m/m	USD, CAD, JPY, CHF, NZD
53	UK (GBP)	CPI y/y	USD, CAD, JPY, EUR
54	UK (GBP)	Bank of England (BOE) Governor Speech	USD, CAD, JPY, EUR, CHF
55	UK (GBP)	Retail Sales m/m	USD, CAD, JPY
56	UK (GBP)	Claimant Count Change	USD, CAD, EUR, JPY
57	UK (GBP)	MPC Asset Purchase Facility Votes	USD, CAD, EUR, JPY
58	UK (GBP)	MPC Official Bank Rate Votes	USD, CAD, EUR, JPY
59	UK (GBP)	Unemployment Rate	USD, CAD, JPY, EUR, CHF
60	UK (GBP)	Prelim GDP q/q	USD, CAD, JPY, CHF
61	UK (GBP)	Bank of England (BOE) Inflation Report	USD, CAD, JPY, EUR, CHF
62	USA (USD)	Unemployment Claims	EUR, JPY, NZD, AUD, CAD
63	USA (USD)	ISM Manufacturing PMI	EUR, JPY, NZD, AUD, CAD
64	USA (USD)	Fed Chairman Bernanke Speaks	JPY, NZD, EUR, GBP, AUD
65	USA (USD)	FOMC Statement	JPY, NZD, EUR, GBP,
66	USA (USD)	ISM Non-Manufacturing PMI	EUR, JPY, NZD
67	USA (USD)	Trade Balance	JPY, NZD, EUR
68	USA (USD)	ADP Non-Farm Employment Change	JPY, NZD, EUR, AUD, CAD, GOLD, CHF
69	USA (USD)	Unemployment Claims	JPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
70	USA (USD)	Non-Farm Employment Change	JPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
71	USA (USD)	Unemployment Rate	JPY, NZD, EUR, AUD, CAD, GOLD, CHF
72	USA (USD)	Core Retail Sales m/m	JPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
73	USA (USD)	Retail Sales m/m	JPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
74	USA (USD)	PPI m/m	JPY, NZD, EUR
75	USA (USD)	Core PPI m/m	JPY, NZD, EUR, CAD
76	USA (USD)	Core CPI m/m	JPY, NZD, EUR, AUD, CAD, GOLD, CHF
77	USA (USD)	Fed Chairman (Bernanke) Speech	JPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF
78	USA (USD)	Existing Home Sales	JPY, NZD, EUR, GBP
79	USA (USD)	New Home Sales	JPY, NZD, EUR, GBP, CAD
80	USA (USD)	Core Durable Goods Orders m/m	EUR, NZD, JPY, AUD
81	USA (USD)	Durable Goods Orders m/m	EUR, NZD, AUD
82	USA (USD)	Pending Home Sales m/m	EUR, JPY, NZD
83	USA (USD)	Federal Reserve Chairman Statement	JPY, NZD, GBP, EUR, AUD, CAD, GOLD, CHF

Download this sheet to your computer.

 

RISK DISCLAIMER NOTICE: News Trading is associated with extreme volatility, which has the capacity to cause undesired effects on your account. The outcome from news release cannot be fully predicted, and released figures are sometimes subjected to reviews without notice. The negative effect of this is capable of causing huge draw down in your account in a split of seconds especially when you over leverage. There are strong possibilities that certain unexpected change in some economic factors could cause strange behaviour on currency pairs hence FXTradeCity would not be held liable for any undesired results arising from the decisions taken by you when applying these recommendations. Please use Stop Loss, seek further financial advice, and apply best discretion always.

How I Trade The News (Tools, Setup, Source) - Part 2

In the previous part i outlined some basic facts about News Trading, and the major currencies/investments that attracts investors, which drives the market.

This section reveals step by step guide on how i trade the news with sample illustrations. The first step is the introduction of some vital materials i use.

1st Step: Setup Materials
The charts below illustrates some tools i used to setup my chart to get prepared for news release.

 Click image to enlarge...

 Click image to enlarge...

The 1st picture shows a sample of my chart setup containing some tools that alerts me when a news is about to be released at a specified time configured by me. It also keeps me informed of upcoming and past news events. The setup also contains a dynamic Support & Resistance Indicator as well as a dynamic Pivot Point, which acts as a guide to help me study the psychology of the market and to locate the best places to place orders. The One Click Trading

One Click Trading

tool is also part of the chart setup. I use it to place quick order(s) during a quick counter retracement or to trade spike trade reversals.

Download My Trade Setup Indicators Here: https://docs.google.com/uc?export=download&id=0B2cGd02M-NmRV3ZBckc5ajdjVEE





The 2nd chart is a little different from the the 1st chart only for the news economic tool which displays the actual release on the chart. However the release is not as fast as other 3rd party news engine sources, so i rarely use it.

Other important resources:
1. Forex Factory
2. My personal News Calender on my blog.
3. Henry Liu's pre-news analysis
4. News Trading EAs (I seldom use them)
5. Cable/Satelite Network (for live speeches, press release, interviews, e.t.c.)

2nd Step: Get Pre-News Release Schedule 
I get this weekly from several sources to get me prepared adequately. When reviewing the news calendar or schedule for the week I put more interest on the impact and the time schedule. Getting this information on a Sunday before the beginning of the working week is the best. It helps me to plan adequately for the week or days ahead most especially for midnight news release due to my geographic location.

Apparently there are far lesser economic activities on Sundays around the World except in some Asian Markets.

Lookout for daily analysis of the news release hours or if possible a day before. Henry Liu's pre news analysis is one of the best i can recommend. Apart from analyzing the expectations of the news release, they offer trade guidelines on the best pairs to trade.   

High impact news are the best to trade. However their impact is still subject to amount of data released. So not all of them could be profitable. Therefore take the advise or guidelines of pre-news analysis from experts seriously.

3rd Step: Watch For Signs Prior To The News Release
Watch out for certain market signs that indicates the likeliness of a possible high impact or apparent closeness to a news release. See some of the signs below:

- Narrow price movement extending for hours before the news release.

 

- Pre-news reaction. In some cases there is a slight or consistent push in the market arising from traders sentiments towards the expected outcome of the news release. Be very careful with this sign. It's most often seen with an engulfing candle pattern.

- A very slow or an abrupt halt in the market movement. It is what i call the market quiet time. This sign means the market participants (i.e. bulls/bears) are waiting earnestly or holding back for an important information, which would decide the long or short term direction of the market. It's one of the major positive sign of an upcoming news release with a very high impact. This sign helps me to detect which pairs are likely going to have a greater impact.

- Inconsistent and continuous series of candle patterns (doji's, hammers, inverted hammers, kickers, e.t.c.). The inconsistent candle patterns is a display of the irrational reaction of the market to an upcoming news release.

 

4th Step: Place Orders
This should be done systematically. You need to understand the signs, and market behavior before placing orders. There are cases where your orders would be triggered at the wrong time due to what i call tremor of the market (i.e. mini shocks before the real impact). So placing of orders is a dynamic thing. It might require constant modification until the news release.

News release accounts for a higher percentage of market volatility, and hence can cause irrational price feed lags, which results to error messages such as "Trade Context Busy", "Invalid SL/TP", "Requote", platform hang, e.t.c. More often traders blame their brokers for this but it is not entirely their fault. The steps presented here reveals a way out of this problem.

In the final part we will learn which pairs are the best to trade for a particular news release, and how to place orders and manage them.

Meanwhile i recommend looking up on our article: Forex Currency Pairs & How They Relate.

Watch out for Part 3.

Image (News Dice) courtesy of Stuart Miles / FreeDigitalPhotos.net

Discovered Secrets of JohnPaul77 Forex Signal Services - Exclusive From MQL5.com

JohnPaul77 actually known as Traders Family are a group of Forex enthusiast and experts who came with the idea of building a community of Forex traders in Indonesia. They offer trade recommendations (Forex Signal Services) in various social platforms including MQL5.com community signal services. 

Their proficiency in Forex has kept them at the Top of the table consistently for several months even up to years amongst over 2,160 MT4 Signal Providers in MQL's community signal services.

HotNews! Hotforex Launches MQL 4 & 5 Forex Signals On Their Trading Platform. Click here for more info.....

The secret of their success has been a subject in the minds of his subscribers and other interested traders. The only information available to us is the insufficient summary of their system posted on their signal services page on Mql5.com, which is not sufficient enough to tell what is behind their trading strategy.  However thanks to the recent interview conducted by MQL5 team and the Traders Family, which opened up a lot we can learn from them to make us better traders.

Do they rely on EAs?, Manual Strategies? or Special Indicators? Are they bankers? Well lets find out from the excerpt of the interview conducted on 11th July, 2014.

Hello! Could you please introduce yourself and your team members? 

My name is Tito Hayunanda and the rest of our trader’s team are Lorry Marthias, Hendro Sasmito and Levi Giovanni.
 

The name of John Paul is an alias. Why did you take it?
John Paul is actually our “God Father” who gathered us in one team five years ago. He is the one who taught us everything about Forex business. We used to be gamers, and as the time goes by, we are more dedicated to trading than to doing business. We took his name in recognition of his invaluable help.
 

What attracts you in Forex and social trading?
There are three reasons why we have chosen Forex:
 

1. Two-way opportunities investment

In Forex, we are able to adapt to the market conditions, no matter if they are bullish or bearish. Any other investment puts us on hope and makes us pray for price increases. It is too dependent on other people, we assume. In short, only in Forex we can really ignore the economic conditions and conduct maneuvers to follow the fluctuations.

2. The most liquid investment 

In Forex, we can quickly disburse our funds whenever we need that. Even some brokers can transfer the funds in a few minutes. Its 24-hour market makes it even more beautiful, since we can always receive the current market price without the need to bargain with others.

3. High-return investment
Some might say that Forex is a high-risk and high-return investment. We believe it is because they don’t use a proper risk management. If they do, then it could become a low-risk and high-return investment. In a year, we are able to get at least 50% of return. What kind of investment could possibly be higher than that?

Please note that we always say “investment” because it really is. At least, that’s how we treat it, while most people don’t. It’s not a “get-rich-quickly” business, in which we can judge the results day by day. It becomes a “get-poor-quickly” business instead for those who chase fabulous profits. Maybe that is the reason why we have survived in this industry until now. To be honest, we were surprised to know that it is so hard to find a portfolio older than 2 years. Surprisingly, our account is the oldest one in MQL5!

We think that social trading is the best solution not only for Forex industry, but also for the entire investment world. It has grown into a fully controlled investment. Thanks to social trading, now all investors are connected to each other, and they can have full control of their assets with their own suitable risk.

 

So, you are a team of traders. But who exactly controls your account monitored at Trading Signals? Is it managed by one or several persons?
The current account on MQL5.com is managed by me and Hendro. However, we combine the analysis from all four of us, so that we are able to detect every possible opportunity. After we all do our analysis, Hendro and I choose, which pair to trade. For the most part (95%), we rely on technical analysis.

 

How different is your forecast compared to the ones of your team members?
We all do technical analysis, and then we correlate it with the economic news to estimate the usual daily range. We apply different methods – some of us use chart patterns, while others may prefer candlestick patterns. Finally, we combine all analysis and decide on the best way to enter the market based on risk/reward ratio. Basically, we trade only when the risk is worth it.


I am sure that many traders are already anticipating my next question. What tools of technical analysis do you use?
Believe it or not, we only apply the most basic strategy everyone forgets about – support and resistance levels. We just use horizontal lines and that’s it.

 

Could you please be more specific on how you make your decisions? Suppose that today is May 1, and I think that EURUSD will go up for 300 points. However, one of my team mates believes that the pair will go down, while the third one has his own idea. But finally, we are still able to come up with a trading decision: “Buy EURUSD with Take Profit of 100 points”. Can you provide such an example from your everyday activity?
Yes, we can. Suppose that one of us thinks that EURUSD is still in a bullish trend with the movement of 70 points based on the normal daily range. But then the second guy detects a double top chart pattern. After that pattern is fulfilled, the price movement becomes bigger, while the risk usually decreases. In that case, we prefer to put a Sell Limit order at the double top level instead of following the bullish trend. Basically, we are working intraday, so we do not really focus on long-term trends.


Why have you chosen these analytical tools instead of others (for instance, Bill Williams tools)? Do you think your strategy is better than others?
We have been using this strategy for more than 3 years now, and it remains profitable so far. So why would we change it? Besides, the tools you have mentioned are not able to detect daily range changes and major economic events.


Why do you need a team? It seems to me, that all this can be made by one person, while the most part of the analysis can be performed by an Expert Advisor.
A single person may conduct a good analysis and make a trading decision. But there is also an emotional side that matters as well. That is why we always need other team members to remind us of controlling ourselves. As for Expert Advisors, we see that many traders trust them too much. But as I have already said, no trading robot or an indicator is able to detect daily range changes. Manual labor is always very expensive, isn’t it?

 

You are doing very well for a long time now receiving much profit from trading. Why have you decided to distribute your trading signals and thus, share your results with other traders?
We are traders, and what we need is a good broker. The reputation of Forex industry is worsening with each passing day, especially in our country (Indonesia). We simply want to prove that real traders actually exist, and trading for a living is not a dream. Some might say that only 5% of traders can survive in this industry. Hopefully, by distributing our signals, we can change that 5% into whatever possible bigger number. We believe that we can change the current public image of Forex industry.


However, you have set a price for your signal. Have you done this deliberately?
Initially, the signal was free, but we have received negative reviews from people reacting vehemently to every trade we made. Most of them could not afford the losses. Therefore, we have set the price. Now, only those who are willing to spend money and aware of the risk can follow our signal and leave comments about it. But we still keep the monthly subscription fee at the lowest possible level. We are not naive. If we can get extra income without extra effort, we see no reason why not to do it. By pricing our signals, we feel more responsibility for every trade we make. That helps us to enhance our trading skills and moves us closer to our cherished dream of becoming hedge fund managers.


You have mentioned bad reputation of Forex industry in Indonesia. Why don’t you choose a broker from another country then?
We did, but had the similar experience. Besides, it is more convenient to trade locally because we can simply visit our broker’s office in case there is a problem. By the way, even an international broker behaved unfairly towards us a couple of years ago.


Suppose that you have a lot of subscribers from different countries, and they ask you to change the broker for more convenience. Will you comply?
Indeed, many of our subscribers are constantly asking us to change the broker. However, it would be unreasonable for us to do so, since the broker’s trading conditions suit our system well. We feel comfortable enough with our current brokerage company, since they never interrupt our trades and have no problems with payments – that is the most important.

Thank you for your interesting answers. We wish you good luck and many new subscribers

End of Interview. Source https://tradersfamily.com/mql5-exclusive-interview-johnpaul77/

There are some important tips worth taking to heart about their view of the word "investment"....;

"Please note that we always say “investment” because it really is. At least, that’s how we treat it, while most people don’t. It’s not a “get-rich-quickly” business, in which we can judge the results day by day. It becomes a “get-poor-quickly” business instead for those who chase fabulous profits. Maybe that is the reason why we have survived in this industry until now. To be honest, we were surprised to know that it is so hard to find a portfolio older than 2 years. Surprisingly, our account is the oldest one in MQL5! "

It's also quite amazing to note that the simple Support & Resistance approach is the core secret behind their successful trading strategy all this while. Although a few traders complained about their counter trend trading style which seems a bit awkward but somehow works for them. Recently they have been experiencing difficulties in their performance due to market inconsistencies in the past months being their worst ever. It's understandable because it reflected on other trading systems as well.

However as a veteran trader i quite support systems that integrates support & resistance in their trading logic. Our 40 to 50 pips trading strategy works well with it.

My advise: Before trying any Forex signal services use it on a demo account first.

Happy Trading.

How I Trade The News - Part 1

Image courtesy of [Stuart Miles] / FreeDigitalPhotos.net

News trading accounts for more of the huge success I have achieved in Forex Trading. I want to share with you my personal news trading strategy, which got me over 78 win trades, and about 26 loss trades since April 2014 till date. The money management made the bad trades highly insignificant when compared to the overall account equity and balance.

An infallible fact is that news trading is one of the highly profitable trading methods in Forex. It is precise and most times have a definite outcome because of the fundamental factors involved. However it is not that easy, hence a good deal of experience, and broad knowledge of the economic and political events in the world is necessary.

In my early years in Forex, i was quite glued to the technical way of trading. My first live account got burnt through the effects of an economic news release. At that time i was ignorantly trading during the news release, and in less than few seconds i got a margin call. I never knew at first that i was exposed to the swift impact of the news release.

News release most often comes with great volatility enough to drain an unprotected account. Brokers tend to widen their spreads at such times thereby compounding the effects. (In subsequent chapters i will share some tools to help you get prepared adequately for the news release).

I am not about to reinvent the wheel on news trading but to share with you my personal method, which i have been successfully using to trade the news. But before this is revealed, its important we understand some few basics and facts about news trading especially for those who do not have any knowledge on this subject.  

 

Don't Trade Alone - Copy Winning Trade Signals from MQL's best Signal Services Providers

Some Basics & Facts

• Forex in the real sense is not just buying and selling of currencies. There is something that drives the appetite to buy or sell a currency.

• Financial investors invest only in areas where they expect high returns. The choice of investment is determined by the economic performance, and strategic financial programmes of a country. The economic performance or financial statistics are released periodically. These figures serves as a guide to investors. 

• Real investors invest in the commodity (tangible & intangible) of a country, which in-turn affects the currency positively or negatively. This is reflected in the price of the currency being bought or sold by the Forex traders.

• Investors watch out closely for the outcome of economic news release. A good release would spur investments (BUY) and a bad release will cause withdrawal of investments (SELL). This is a simple way to define fundamentals in Forex.

• The effects of these fundamentals in Forex is what drives the market. It is like the fuel a vehicle needs to move. Ordinarily the market would still move but the fundamentals has the capacity to change its course, and most often sends it wild.

• There is bound to be an economic news release every week. See economic news calendar

• News trading can be discomforting due to time factors. I am most often fortunate to trade the US & UK news release due to my geographic location. However i find it difficult to trade Australia, New Zealand, Asia & some other country's news release because it sometimes comes out at midnight in my location. 

• Technical tools and strategies are most often useless or fails during a high or medium impact economic news release.

• There is a high probability of spread widening by brokers during news release. So not all brokers are good to trade the news.

• A very high impact news release can cause extreme movement of price (spikes) in nanoseconds faster than the eyes can see.

• Most sideways movement and narrow movements usually occur as a sign of an upcomming news release.

• Do not expect the best from your broker during news release. Prepare for unlikely mishaps, and unprecedented issues due to sever overload, and heavy request from data feeds. This often is responsible for error messages like "off quotes", "Invalid SL/TP", "Trade
  

  

  Automated News Trading System

  Timeouts", "Trade Context Busy", e.t.c. (My strategy takes care of this).

• There is no Holy-Grail system to trade the news. However some systems have shown proven performance trading the news.

Major Currencies/Investments That Attracts Investors

We could refer this to the major news trading currencies. 

Major Trading Currencies:

United States of America (USD), United Kingdom (GBP), Japan (Yen), German (EUR) France (CHF), Canada (CAD), Austrialia (AUD)

Major Investments/Commodities (Tangible & Intangible):

Housing, Food, Energy, Fuel, Mining, Jobs, Sales, Manufacturing, Production, Services, Bank Rates, e.t.c.

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In the next chapter we'll reveal the necessary resources required for news trading. Meanwhile go through your charts and look out for areas where you can spot a spike. Study the chart pattern before it occurred and the reactions that followed.

Happy Trading. 

How To Subscribe To MQL Forex Signals With Brokers That Do Not Have Signal Tab

This guide presents solutions for traders who wish to subscribe to MQL's signal services but do not have the Signal Tab installed on their platform.

Metaquotes integrated some functionality like Signal Tab, Market, Code Base, e.t.c into MT4. However some MT4 Platform do not have the Signal Tab because some brokers stopped supporting it, and took it off due to reasons best know to them.

 

MQL has one of the largest auto signal services, which directly places trades on subscribers platform. They have about 3,670 trading signals available for subscription as at 30th April, 2014, while the community has grown to over 236,910 users as at May, 2014.

(02/06/2014) Update!!! HotForex has launched MQL Signal Services on their Trading Platform. Click here for more info or Open a HotForex Account and subscribe directly to MQL's Signal Services Providers.

 
If your platform does not have the Signals Tab or your broker does not support it then follow the steps below:

1. Open an account with a broker that supports signal trading from MQL. A demo account is sufficient. I recommend AxiTrader


2. Configure the demo account with a deposit higher than your original account size. For example if your account is $1,000.00 then use either $1,000.00 or $2,000.00 preferably on the demo account. The master account sometimes get depleted due to some uncontrollable factors so its better to increase the deposit on the master account and replenish it more often. The client has more filtering features to control and discard bad trades.





3. Configure the signal services in the demo account. See Axitrader Signals Guide


4. Select a signal service provider from the list of providers in the signals tab, or goto www.mql5.com to subscribe directly to a signal provider.


5. Download a Forex Copier Application. You will need this to copy signals from the demo account to your real account. I recommend Forex Copier, LTC Copier and Trade Copier Software


6. Install the Forex Copier Application to the server (master) and client (slave) platforms. The server platform will be the demo account which has the Signal Tab, while the client platform is your platform, which would copy the trades from the demo account platform.


7. When configuring the Forex Copier ensure that the following features are configured properly; Lot Multiplier, Risk Ratio, Lot Size, Pending Order Manipulation, Synchronization, Magic Number, News Feature, Reverse Trade, Filters.


8. Ensure you have subscribed to a signal provider before going to step 8. See picture below for a subscribed signal service on a master account.


9. Open the platform with the demo account, and attach the Forex Copier to a chart (preferably EURUSD). Please follow the instructions from the Forex Copier User Guide.


10. Wait for sometime for synchronization to take place. Usually if there is an ongoing trade the Forex Copier would require your confirmation to copy them or you can configure an automatic action.


11. Give sometime before opening the receiving platform (client) in order to enable trade synchronization to be sorted out in the master platform. This is necessary to guide against copying negative trades.


12. If step 1 to 12 is done correctly then trades would be copied from the master to the client whenever the signal provider places an order.

CAUTION AND TIPS

1. Do not use proxy internet connection, and do not turn off your platform rapidly.


2. I strongly recommend using a reliable VPS Provider to ensure 100% utilization of the trade signals so that you will not miss important signals when your computer is off or when you go offline.





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3. The quality of your internet connection is crucial to how fast the signal trades are synchronized, copied, modified, and manipulated.


4. The quality of your computer system resources matters a lot in terms of the ability to handle speed, and processing (See: How To Fix Slow & Frequent Crashing Platforms).


5. You can manually manipulate the trades on the server and master platforms (i.e. adjust TP, SL, TS, e.t.c.).


6. Always monitor the signal provider's trade performance against the trades sent to your account. You can check this MQL website.

Feel free to contact us if you experience any issues with the guide above.

Further Reading:

1. Top 5 VPS Providers
2. Why You Might Need A Forex VPS Service
3. Guide To Selecting A Forex VPS Provider 
4. How To Convert Your Trading Strategy Into Forex Signal Services

Forex News Trading (Straddling Vs Autoclick Systems)

"Forex News Trading can be extremely profitable if you have an understanding of fundamental analysis and have access to low latency Forex trading software." - FNG (Forex News Gun)

Since the beginning of this year we've noticed a higher percentage of fundamental factors driving the market much more than the technical factors. It is obvious that investors are currently paying more attention to issues like quantitative easing, rate hikes/cuts, fiscal tightening, Job market, and other economic key factors in the Global market.

While reviewing search index on news trading systems, we found out that most traders are on the lookout for straddling, and auto click news trading systems. The question is which of them is better? This article clearly compares, and brings out the true potentials between both systems.

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See: Top 6 News Trading EAs & Software Applications

What is Straddling?

Straddling is a trading strategy where an order is placed above or below the market current price or two orders are placed in an opposite direction of the current price prior to a news release in anticipation that price would move in favor to either of the positions. In most cases the investor is not sure of the direction of the market's next immediate movement.

What is Auto Click News Trading?

Auto click trading systems are semi automated tools, which triggers the buy or sell button on your trading platform as fast as milliseconds. They are designed to trade fast news spikes.

BASIC DIFFERENCES AND WHAT YOU SHOULD KNOW ABOUT THEM

NB: Both systems comes in different forms like expert advisers, scripts, manual systems, stand alone client systems, executable programs, signal services, e.t.c.

Parameters	Straddling	Auto Click
How It Works	It uses a client/server technology. The server is the core system which handles the news feed, client data, and news trading strategy. Signals are sent from the server to the client app, which is mostly in the form of an EA, Indicator or Scripts installed in the trader's (subscriber) trading platform. The client app connects to the server from the trading platform where it picks the signal to straddle the news release. Other functions such as deleting and modifying orders can be controlled from the server or the client system.	Some auto click news trading systems utilizes the client/server technology. However quite a number of them are 100% client based (i.e. they depend on the platform's news source or other news source programmed in the system). The system generates its decision to buy or sell through its inbuilt logic, which checks the difference between the forecast and previous figures to ascertain if the deviation figure is met. When the condition is met the application uses an API function to detect the coordinates (position) of the buy/sell button of the order window to activate a buy or sell order.
Accuracy/Precision	Much more accurate than auto click systems because they are rarely exposed to requotes, slippage and latency issues. You stand a better chance to get good fills since pending orders are set on the client platform, and activated in the broker's server.	There are issues with accuracy and precision because it places market orders which are subject to latency, slippages, requotes, and other broker/platform issues. You can get a very fast click but a late entry and bad fills from the broker. Sometimes the high impact of the news can make the market move in lightning speed which sometimes is much faster than the auto click system thereby causing inaccurate entries.
Speed	Straddling systems do not  necessarily require speed to trade the news when compared to auto click systems. However speed is a factor but not too necessary. Although most of them come with options to place orders in few minutes or seconds before the actual news release. In terms of speed auto click systems are much faster.	They are primarily designed to trigger the buy or sell button of the trading platform in milliseconds if the conditions for a news release is met. Speed is an essential requirement for auto click news trading systems. However you cannot guarantee a good fill or exact lightning entry for some news release with lightning spikes.
Broker	Straddling systems generally work with all brokers that allows news trading. However it might not be suitable for some brokers who deliberately frustrate news trading.	They're mostly standalone applications and are therefore not limited to broker platforms unless the trading platform uses complex or complicated order window.
News Source	More often utilizes news source from its server only.	Auto click systems are capable of utilizing platform news source, external news source, user news source, and the news source from its server.
VPS	Works effectively in a VPS	Not suitable for VPS since it requires trader's intervention.
Automation	Fully automated	Semi automated
Simplicity	Very easy to use. The system handles virtually all the trading process. Its a set and forget system.	Not as easy as the straddling systems. It requires you to enter the news inputs all the time, and also set the trading platform for it to work.
Protection	Very good in-built protection in terms of deleting orders if triggers (deviation) is not met, and trade management (TP, SL, BE & TS). However certain sharp reversals and counter reactions cannot be fully managed.	In-built protection is quite low especially for some platforms that do not allow placement of Stop Loss and Take Profit for market orders. This is very risky for counter or irrational spikes. You have to manually manage the trade or use trade managers.
Profitability	Straddling systems are more profitable based from experience, and system reviews. They are designed to trade all kinds of news.	Auto click systems are most often designed to trade spikes, and other news types. They are profitable but not as much as straddling systems.

News trading can be very lucrative but at the same time very risky due to extreme volatility. But with the right tools and good broker you can make the best out of it. Feel free to contact us for some of these tools, which would help you get prepared before the news release occurs.