Forex Straddle Trading

News Straddle Trading Basics

What is Straddle trading?
Straddle trading is simply a method of placing two pending orders, a buy stop above the
current price of a currency pair and a sell stop below the current price of a currency pair. Traders use
this method when they anticipate the continuation of current price movement or trend, or to take
advantage of quick spikes in price at the release of news information. The basic concept of straddle
trading is very straight-forward: you place a pending buy order just above the current price and a
pending sell order just below the current price (in our case: before a news is release) and you wait for
one of them to trigger when the price breaks out of the range (this breakout occurs very quickly when
this is a spike cause by a news release).
The idea is that price will spike sharply in one direction when the news is releases and because you have
pending orders in both directions, you will make a profit no matter which direction the breakout
occurred to. This sounds like a great strategy in theory, but unfortunately it is never that simple in
practice.
One of the biggest problem with this strategy (as regards to news releases) is that the pending orders
need to be set as close to the news release time as close as possible to avoid getting filled in before
the release (unfortunately, this is very risky doing manually).Another problem is fake spikes, where the
price spikes slightly in one direction to trigger your trade and then suddenly reverses and move in the
other direction. This happens way too often and It is usually the main problem of straddle trading
strategies. These fake breakouts usually occur because you either placed the pending orders far away
from the time of release of the news (placing the pending orders 20-30pips away) or because the news
release did not have enough impact on the market to cause a big, sharp spike in the currency pair..The
latter is caused by what is called INSIGNIFICANT/LOW DEVIATIONS!
This occurs when the Actual News release figures are not much different from the Expected figures
(this is called low DEVIATION), for example. If all the Expected figure for US GDP figures is 3.0 and
during the release time, the Actual released figure is 3.0 or 2.9 or 3.1, then there is would be no major
impact on the currencies (USD/JPY, EUR/USD, GBP/USD, USD/CAD..etc), but if the released figures are
dramatically different to what the analysts expected (called high DEVIATION) e.g it came out at 5.0 or 1.2, it usually results in very sharp movements (Significant spikes) in the currencies. You can get
information of all Expected figures from News trading calendars, www.forexfactory.com is a good
place. There, you would see details of all news scheduled to be released in a month, their expected
figures..and when the news gets released..youll see the Actual figures..
The idea is to straddle the market when the DEVIATION between the expected and the actual figures
is big enough to cause strong spikes in the charts, but unfortunately this all happens way too quickly for
the manual trader, FX brokers wont even allow you place your straddles manually during release times
except you place it 5min-10mins before the release, doing that would get you into big trouble as you are
likely to be triggered way before the release..To successfully straddle the news, you need to get both
pending orders set at least 5seconds before a news release, there is no way you can do that
manually..even if you are as fast as superman and gets your two pending orders set- seconds before the
release, theres no way you would set the Stoploss + Takeprofit targets on the buy pending order AND

the Stoploss + Take profit targets on the sell pending order AND other functions as trailing stops, OCO,
Move to breakeven..ALL within that 5seconds-PRACTICALLY IMPOSSIBLE!!.

The THG Straddle Trader Diamond system was developed to help reduce some of the problems
associated with the straddle method.
It would place both Buy and sell pending orders at X seconds to the release time (where X is the
desirable number of seconds you want to get your orders set..its totally determined by YOU)..e.g
6seconds..and THG straddle trader would allocate all the other functions-buystop and sellstops
Stoploss levels and Take profit levels(TP1,TP2&TP3),Trailing stop, OCO, moves your stop loss to
breakeven at a desired number of X pips in profit..and lots more!..*with THG straddle trader, you can
use very big TP levels e.g 20-50pips and very tight stop loss level e.g 10pips**funny thing is that Stoploss
rarely gets hit and in case of very bad trades, you get enough time to exit with 3-5pips losses before it
even hits your 10pips Stoplosson winning days, you could get your 40pips TakeProfit level hit within 10
seconds of the news release!..happens many times during SIGNIFICANT RELEASES!!!..thats why I ONLY
trade SIGNIFICANT RELEASES..and I recommend you to do same..
Scroll down and youll see the list of the Significant trades i trade..Nothing more !! (*But subject to
change as in future*)

*VERY IMPORTANT*
To get the ultimate satisfaction from this EA..please once a news is released and you are triggered,
the next step is to quickly see if your TP gets hit, if it gets hit..thats a great WIN trade..but! if you get
triggered and TP has not been hit, its either you are in small profits..or..its already heading to your
StopLoss level (very rare)..What next is to go and checkout the DEVIATION for that particular news
released..Immediately after your straddle is triggered, go to forexfactory.com and check the Actual
figure compared with the Expected figure (difference btw the actual figure and the expected
figure is called a deviation)
If the deviation is SIGNIFICANT..it means you shouldnt worry pal, you would see bigger profits soon
in your charts..so just hold unto your trade till it hit your TP or close out when you are comfortable with
the amount of money you are seeing as profits..But if after you check and the deviation is
low/insignificant..just quickly close out with anything you see on you chart i.e whether profit or loss,
that way you are exiting before you hit your Stoploss..thus making your minimize your risks to barest
minimum.

Below is a list of the acceptable Trades and SIGNIFICANT DEVIATIONS TO WATCHOUT FOR AFTER
GETTING TRIGGERED:

US Reports

Tradable Deviations

Movement range (within 1-60mins)

Core CPI m/m

0.20%

50pips

Core Retail sales m/m

0.50%

50pips

Interest rates

0.25%

70pips

**Non-Farm Payroll

70k

70pips

ADP NFP Changes

50k

40pips

ISM Manufacturing PMI

2.5

50pips

ISM Non-Manufacturing PMI

3.0

50pips

New Home sales

70k

50pips

Existing Home sales

400k

50pips

GDP q/q

0.30%

70pips

Canadian Reports

Movement range (within 1-60mins)

Core CPI m/m

Tradable
Deviations
0.30%

Interest rates

0.25%

70pips

Employment Change

30k

60pips

IVEY PMI

3.0

50pips

GDP m/m

0.30%

50pips

Core Retail Sales m/m

0.50%

50pips

50pips

UK Reports
CPI y/y

Tradable Deviations
0.30%

Movement range(within 1-60mins)

50pips

Interest Rate

0.25%

70pips

Manufacturing PMI

2.0

50pips

Service PMI

2.5

50pips

Retail Sales

0.50%

60pips

GDP q/q

0.30%

50pips

New Zealand Reports

Movement range (within1- 60mins)

CPI q/q

Tradable
Deviations
0.30%

Interest Rate

0.25%

70pips

Retail Sales

0.50%

40pips

GDP q/q

0.30%

40pips

50pips

Australian Reports

Tradable Deviations

Movement range (within 60mins)

Interest Rate

0.25%

70pips

Employment Change

30K

60pips

GDP q/q

0.30%

50pips

Retail Sales

0.50%

50pips

CPI q/q

0.30%

50pips

*Make sure two or more heavy impact news are not released at the same time, but if they are, then
trade it with minimal lot size or avoid such trades completely.
**NFP is categorized as fair event because it is known to spike in both directions although it is the
heaviest of all news releases..please only trade NFP with very minimal lot sizes or dont trade it at all if
you are not comfortable with it.
*As you see we have over 30 high impact News releases scheduled to be released monthly that could generate
numerous amount of pips, you do not need to over trade, Even If you only get to trade 10 news successfully in a
month with each producing 30-40 pips, thats about 300-400pips..and trading 1 standard lots? you can do the
math-thats getting $3000- $4000 (Sometimes you get to trade lesser, sometimes more..patience is the key).*

For more info visit http://www.tradehouseglobal.com or

Email: [email protected]

THG Straddle Trader Diamond v2.8.2 EA

Copyright 2012, www.TradeHouseGlobal.com
[email protected]
[email protected]

INSTRUCTION MANUAL
(READ ME CAREFULLY)
TRY IT FIRST ON A DEMO ACCOUNT UNTIL YOU FULLY UNDERSTAND HOW
IT WORKS AND VERIFY BY YOURSELF THAT IT WORKS CORRECTLY
BEFORE PUTTING REAL MONEY.
QUICK DESCRIPTION

The expert advisor can be used for 3 different scenarios, but its main aim is to allow us
to trade the news events, which are very volatile and sometimes create extreme
market conditions. The main idea behind it is to be able to place a straddle (1 long
pending order and 1 short pending order) at a pre defined time and distance from price,
way before the news event takes place.
This is mostly to avoid spreads that widen a few minutes before the events as per the
standard practice of all MT4 brokers (or most of them), platform freezing, orders
rejection and so on.
Once the straddle is placed, the EA takes care of adjusting these 2 orders, maintaining
a fixed distance from price as price goes on moving, finalizing the positions usually a
few minutes (or seconds) before news get released. The second use can be to play a
narrow range, a sideways market breakout. In that case, the straddle is placed
immediately using the parameters we have set up.
Finally, it can be used to simply babysit a manual trade already entered, automatically
filling in the stops and TP if none is entered. The choice is yours

HOW TO INSTALL THE STRADDLE SOFTWARE

After purchasing the THG Straddle Trader, you would receive a package in your e-mail address in form of
a Zipped file, this package contains 4 files namely Guardian.exe, a Read-Me file, THG straddle trader
manual and an Installer. Your package comes with a license code and this is found in the Read-Me file.
The first step is to run Guardian.exe and click show my CID (A CID means Computer Identification
and its a unique code that distinguishes a computer from the rest, we use CID authentication to prevent
unauthorized use of our EA)..clicking the show my CID would show you your computers CID, you
MUST copy and send this code along with your license code to [email protected]
immediately and well activate your CID ASAP!.. The second step is to run the Installer, make sure you
dont have any meta4 platform currently running during the installation process..it looks like this:

Click Next to Go to second step, then accept the agreement

Click Next againto Go to the next page to select the meta4 Installation where you would like to install
the EA, you can add multiple Meta4 instances.

Follow through to the last step to finish your installation

After clicking Finish, you can now launch your meta4 platform and youll see the EA under the expert
Advisors tab as grey (its colored that way because its a commercial EA, nothing to worry about!!)..but
note that it WONT WORK YET..If you try to click it, it wont do anything until you input your license
(Either Trial or Full license)..to do that, you would need to open the Guardian.exe once again(its
actually a software to manage all your licenses and authorization with us) .

..Open the Guardian.exe and it would look something like the picture below:

Click on the License manager button this time around and input your license code (this code could be
found inside the Read-Me file)

Click on Add license and input the license code, then click OK, the software would validate the license:

Then click OK once again to finish the activation process..After this, the EA would become functional and
you would be able use it on your Meta4 platform..IMPORTANT!! ALWAYS RUN GUARDIAN.EXE
EVERYTIME YOU WANT TO USE THE EA,YOU DONT NEED TO RE-INPUT THE LICENSE BECAUSE ITS
ALREADY STORED IN GUARDIANS MEMORY..JUST SIMPLY RUN IT AND YOU ARE GOOD TO GO!
To launch the EA on chart, simply double-click it from the Expert Advisors tab

After double-clicking, a dialog would pop-up!

On its Common Tab, Make sure that you always tick Allow live trading and Allow DLL imports (Untick Confirm DLL function calls). After that click on the Inputs tab, this is where you customize your
trades setting e.g Lot size, Stoploss and Take-profit levels, Money management, Trailing Stops etc

Full details about these could be found before the end of this article..You dont need to edit most of the
input, most people prefer to leave everything at default except Lot.size and
Event.Start.Hour/Minute. Youll need to edit those two frequently (per trade).
Anyway, its important to understand each input settings, what they do and how they work, that would
give room for customizing your own setups in the future. Make sure you test everything carefully on a
demo account and get the hang of it..once you are used to it, it would be super-simple to use on live
account.
Once youve adjusted your Inputs, click OK and you EA would be attached to your chart and looks like
this:

Make sure the EA is enabled and a smiley face shows on your chart as below:

A smiley face means the EA is fully active and ready for action..thats it, you are all set to make some
good money trading Forex News events..It would be wise and advisable to setup all your inputs and
settings way before the news is release, at least 30minutes before the scheduled news event. Its good
to make sure everything is in place and have peace of mind trading rather than rushing things up couple
of minutes to the event..
After the event, the EA would not do any other extra work placing unnecessary trades..it would simply
awaits you to set-it up for a new event, meaning-Itll work once until you set it up again for another
event.

N*B: You can only use a single license on a single computer (whose CID weve activated),your license
will Never work on another computer ,to use more than one PC, simply buy additional license via our
website http://www.tradehouseglobal.com. License currently sold for $65/month OR $150/3months OR
$700/year. We accept two forms of payment-Naira (N) or Liberty reserve ($).As soon as your license
expires, your EA would cease to function and you would need to contact us to acquire a new license.
If you have any questions or complaints, simply send us an e-mail to [email protected] or
call Albert on (+234)703-217-5763.
WWW.TRADEHOUSEGLOBAL.COM

BASIS SETTINGS AND HOW TO USE IT

Before you proceed,on the Experts Common TAB,always make sure
Allow Live trading is ticked
Other Input Setting:

1. IF YOU WANT TO USE THE EXPERT FOR NEWS EVENTS

Make sure to set "enable.news.trading" to true and "place.straddle.immediately" to false.IN
THAT CASE, once a position is triggered, the ea will not
Place another straddle again until you initialize it (this is done by changing time frame or
disabling and enabling the ea again or at the start of a new day automatically).
The Stop Orders is entered before the news release, either immediately if
"Pre.Event.Entry.Seconds"=0 or xxx seconds before the event and they are tracked and
adjusted ONCE EVERY MINUTE, from the moment they are entered by the ea until a few
seconds before the event (specified by "Stop.Adjusting.Sec.Before.Event" parameter)
modifying their entry price, stop loss and take profit, according to current Bid and Ask, if
"Adjust.Pending.Orders"=True. Once one of them is triggered, the opposite one is removed
if "Remove.Opposite.Order"= True.

2. IF YOU WANT TO USE THE EXPERT FOR STRADDLING A NARROW

RANGE BREAKOUT
Unrelated to news, make sure to set "enable.news.trading" to false and
"Place.Straddle.Immediately" to true. In that case, the ea will immediately place the pending
orders and once a position is triggered and closed at any point, the ea
will put a new straddle again. In that case, the time event settings will be ignored and the
long and short pending orders that will be entered immediately will not be adjusted
according to price like they are when this parameter is set to false and we use the ea for
news release. This is to be used as a narrow range, low volume breakout strategy like for
instance during a ranging Asian period.

3. IF YOU WANT THE EXPERT TO SIMPLY TAKE CARE OF YOUR

MANUAL POSITION AND TOTALLY DISABLE ANY OTHER STRADDLE
FEATURES
Make sure to set "enable.news.trading" to false and place.straddle.immediately" to false.
Notes:
The "ShutDown.NOW" parameter will shut down all the trades specified by
"ShutDown.What" parameter. On the ea's input tab you can see the possible values but
here they are again as a reference.
ShutDown.What ==> 0=Everything,
1=All Triggered Positions,
2=Triggered Long
3=Triggered Short,
4=All Pending Positions,
5=Pending Long,
6=Pending Short
If "ShutDown.Current.Pair.Only" then the ea will close all trades for the pair on which this
parameter was set to true otherwise it will close ALL the trades on ALL the pairs. The ea will
check the minimum distance allowed from the broker against the trail, stop loss and take
profit values specified by the user in the expert parameters tab. If these values are below
the allowed distance they will be automatically adjusted to that minimum value Scaling Out.
Scaling out will not function when the new parameter Use.Money.Management is
set to True.
Assuming we have a position triggered with 3 lots, either manually or through the Straddle.
If we set the "Take.Out.Lots" parameter to 1, then when the position will reach TP1, the
expert will close 1 lot. As soon as TP2 is reached, it will close another lot etc...How to use
the ea so it takes over manually entered trades.
As soon as a position is manually initiated, the expert will check a few things.
1. If your position has no SL or TP, it will modify the position and use the StopLoss.Pips and
the TakeProfit.Pips to place SL and TP.
2. Assuming you want to trail a position at 15 pips distance, all you have to do is Set the
"Trail.Pips" parameter to 15 or to any other value you see fit.
3. You will find also 3 other parameters which are related to how the trail will behave:
a) "Trail.Starts.After.BreakEven" If set to true, then your trailing will only start after
breakeven is accomplished. This parameter is independent from next 2.
b) "Move.To.BreakEven.at.pips" You specify here the amount of pips which once your trade
is xx pips in profit the ea will move your SL to breakeven. This means that if you set it to 10,
the ea will move to BE once you are at +10.

c) "Move.To.BreakEven.Lock.pips" Amount of pips to secure once BE is reached. If you set

it to 1, then with the previous parameter set to 10, this means the expert will move your SL
at +1 once your trade is at +10 So let's see some scenarios:

Assuming we want to simply trail a position by 20 pips we can set:

Trail.Pips=20
Trail.Starts.After.BreakEven=False
Move.To.BreakEven.Lock.pips= ANYTHING it isn't needed
Move.To.BreakEven.at.pips = ANYTHING it isn't needed
Or
Trail.Pips=20
Trail.Starts.After.BreakEven=True
Move.To.BreakEven.Lock.pips= 1
Move.To.BreakEven.at.pips = 20
Assuming we want to trail a position by 15 pips and just securing 1 pip once 10 pips of profit
are made:
Trail.Pips=15
Trail.Starts.After.BreakEven=False
Move.To.BreakEven.Lock.pips=1
Move.To.BreakEven.at.pips =10
Assuming we want to trail a position by 15 pips but only after price moves 20 pips in our
favor. We also want to at that point to secure 5 pips:
Trail.Pips=15
Trail.Starts.After.BreakEven=True
Move.To.BreakEven.Lock.pips=5
Move.To.BreakEven.at.pips =20
I guess you've got the idea

PARAMETERS / INPUTS REVIEW

Lot.Size
any value (in pips).
This is your order size. You can use whatever lot size you want to trade with either full lots or
fractional lots (mini or micro) depending on your broker. The value here can be use along with the
Take.Out.Lots parameter below to allow the EA to support multiple lots positions, either fractional
or full, as well as scaling out positions (close partial values of the initial lot size).

Take.Out.Lots
any value (in pips). MUST BE AN EXACT MULTIPLE of Lot.Size. The value here will be used by the
expert advisor to partially close a multi lots position, each time it has to do so, which in turn depends
on the various take profit levels below.
i.e. Lot.Size=1.20 _ Take.Out.Lots=0.40 (3 x Take.Out.Lots exactly equals Lot.Size)
Lot.Size=1.00 _ Take.Out.Lots=0.50 (2 x Take.Out.Lots exactly equals Lot.Size)
Lot.Size=0.50 _ Take.Out.Lots=0.50 (1 x Take.Out.Lots exactly equals Lot.Size)
Wrong-> Lot.Size=1.20 _ Take.Out.Lots=0.50 (2,4 x Take.Out.Lots = Lot.Size)

Initial.TP1
any other value (in pips).

Initial.TP2
any other value (in pips).

Initial.TP3
any other value (in pips).
These are the 3 different profit targets you can use with the expert. Each value is defined in pips
from entry price, but you are not obliged in any way to use all 3 values. This depends on your initial
Lot.Size and the Take.Out.Lots params. The Initial.TP1 is mandatory and cannot be 0. The 2 others
can be 0 or any number of pips, depending on how many sub positions you want your main trade
to be broken in.
Lets see some examples to make things clear. What is important to have in mind is that all the
values used with these parameters must match. You must give Initial.TP2 a value other than 0 IF
your Take.out.Lots value is HALF your Lot.Size (and keep TP3 to 0), and accordingly you must give
a value other than 0 to Initial.TP3 if your Take.Out.Lots is exactly at 1/3 than your Lot.Size
So here are some examples, with combinations for previous and current parameters depending on
how you would like your trades to be handled. You can have the EA:
1. Open a position which will be fully closed in one time, at Initial.TP1 = 15pips@ 1.20:
- Lot.Size = 1.20
- Initial.TP1 = 15
- Initial.TP2 = 0
- Initial.TP3 = 0
- Take.Out.Lots = 1.20 (Lot.Size)

2. Open 1 Trade which will be handled in 2 steps (Lot.Size = Take.Out.Lots x 2) and will be partially
closed at 2 different times, one portion (0.60 lots) at +15 and remaining at +25 :
- Lot.Size = 1.20
- Initial.TP1 = 15
- Initial.TP2 = 25
- Initial.TP3 = 0
- Take.Out.Lots = 0.60 (Lot.Size / 2)

3. Open 1 Trade which will be handled in 3 steps (Lot.Size = Take.Out.Lots x 3) and will be partially
closed at 3 different times, one portion (0.40 lots) at +15, second portion (0.40 lots) at +25 and
remaining at +50:
- Lot.Size = 1.20
- Initial.TP1 = 15
- Initial.TP1 = 25
- Initial.TP1 = 50
- Take.Out.Lots = 0.40 (Lot.Size / 3)

So you can consider Take.Out.Lots as the portion of your trade you want to close at each Initial.TP
level. If the portion of your trade is the same as Lot.Size, then your trade will be fully closed when
the EA reaches the pips specified in Initial.TP1
If the portion is half your lot size, then of your trades lot size will be closed when / if EA reaches
Initial.TP1 and the remaining half when / if Initial.TP2 is reached.
If the portion is one third your lot size, then 1/3rd of your trades lot size will be closed when / if EA
reaches Initial.TP1, another 1/3rd when / if Initial.TP2 is reached and remaining 1/3rd when / if EA
reaches Initial.TP3.

I hope the relation between Lot.Size, Take.Out.Lots and the 3 Initial.TP levels is now clear, and you
should know when to set a Initial.TP parameter to 0, or when to assign a specific value. If not then
this is the 1st thing you have to clarify getting in touch with us as soon as possible.

StopLoss.Pips.Longs
any value (in pips).
This is the amount of pips which the expert will use as a stop loss for a long entry (You can have
different settings for longs and for short positions).

StopLoss.Pips.Shorts
any value (in pips).
This is the amount of pips which the expert will use as a stop loss for a short entry

Auto.SL.Prev.Bars.to.Count
0 or any other value (Bars on current period).
If this parameter is set to any value above 0, then the expert will use that number and check the
highs and the lows xx bars ago to automatically set the stop loss for any upcoming trade. So if you
set it to 6 for instance, and you are on a 30 min chart, the EA will check the high and the low up to 6
bars ago and set the stop loss accordingly either for a short entry or for a long entry.

Auto.SL.Prev.Bars.TimeFrame
0 or any other value (valid chart periods in minutes 5/15/30/60/240/1440).This is rarely adjusted.
If this parameter is set to any value above 0, then the expert will use that number as time frame to
calculate the highs and the lows above, for the stops. If set to 0, then the charts time frame is used.

Trail.Pips
any value (in pips).
This is the amount of pips which the expert will use to trail a position. This means that when a
position will be in profit by the number of pips specified here, the EA will move the initial stop loss
level to your entry price (at break even) without ever moving it back again. From that point on, your
stop loss will be moved by 1 pip for every additional pip made by price in your favor. If at some point
the position is in profit by 35 pips, your stop loss would be at that point 20 pips below price and of
course the expert will have secured 15 pips (stop loss would be at your entry price +15 pips). If you
use a value of 0, you completely disable the trail mechanism described above. This parameter is
also combinable with all the Breakeven parameters discussed below.

Trail.Starts.After.BreakEven
True or False.
If true, the EA will start trailing a position (discussed with the Trail.Pips parameter previously)
ONLY when and if, breakeven point is reached. Lets see an example to catch the difference
between true and false here.
Assume following scenario. We have a long position opened at 1.9300, current price is at 1.9320
and we have set Trail.Pips=15 and Move.To.BreakEven.at.pips = 25.
If we set Trail.Starts.After.BreakEven to True, then the expert will not move the Stop Loss before
price reaches 1.9325. This will happen because we ask the ea to move to breakeven at +25 pips
(1.9300 + 0.0025 = 1.9325) so although our trail is set to 15 pips and we do have those 15 pips gain
actually, the SL wont be moved yet.
On the other hand, if Trail.Starts.After.BreakEven is set to False, then as soon as price reaches
1.9315 (1.9300 + 0.0015 pips Trail), our trail will kick in, and from that point it will follow price pip by
pip since in that case Move.To.BreakEven.at.pips will be ignored.

Move.To.BreakEven.Lock.pip
10 or any other value (in pips). You specify here the amount of pips to lock once the amount of pips
specified below by the Move.To.BreakEven.at.pips parameter is reached.

Move.To.BreakEven.at.pips
15 or any value (in pips).
This is used to lock in a profit, when a trade is in profit by the number of pips specified here. Price
must exceed breakeven by this number of pips in order to lock in the profit. How many pips will be
locked is specified by the Move.To.BreakEven.lock.pips parameter above.

Use.Money.Management
False or True.
If this option is set to True, then the expert will automatically calculate the lot size for each trade,
based on a risk percentage defined below with the Trade.Maximum.Risk parameter, your initial
Stop Loss and your available equity at the moment of the trade.
For example, lets assume you have $10,000 free equity in your account, you want to risk 3%
maximum of your equity in any trade (in that case you have set the Trade.Maximum.Risk below to

0.03) and you have set up your stop loss to 40 pips. In that case the expert will calculate your lot
size to 0.75 lots. It will then check your brokers allowance in mini/micro lots and depending on that,
it will use 0.75 if micro lots are allowed, 0.80 if mini lots are allowed, otherwise 1 lot.
In case MM (Money Management) is used, the expert uses only the 1st take profit level (Initial.TP1
parameter) no matter your take.out.lots size, It will not allow for partial positions to be closed, so you
must remember to use the desired / correct value when setting Initial.TP1 and set the other 2 take
profit levels to 0 since your trade will be closed in 1 step and only Initial.TP1 will be used.

Trade.Maximum.Risk
0.03 or any other percentage expressed like that (3% => 0.03, 5% => 0.05 etc...).

Enable.News.Trading
False or True.
If this option is set to True, then the expert will use all the parameters needed for trading an
upcoming news release. Set it to false only if you are using the ea either for babysitting a manual
position, or for using the ea for an immediate straddle (Set the parameter
Place.Straddle.Immediately to true explained below)

Enable.Auto.News
Not used for in this version of EA.

Distance.From.Price.Longs
Any value (in pips). This is the distance from price at which the EA will place the Long entry pending
order, either for trading the news, or for the simple straddle.

Distance.From.Price.Shorts
Any value (in pips). This is the distance from price at which the EA will place the Short entry pending
order, either for trading the news, or for the simple straddle.

Event.Start.Hour(*)
Any value (From 0 to 23). This is the Hour part of the time we expect the news event. Assuming for
instance that news are awaited at 13.30, then we set up this parameter to 13.This Parameter MUST
be from your BROKERS TIME..and NOT your local computer Time

Event.Start.Minutes(*)
Any value (From 0 to 59). This is the Minute part of the time we expect the news event. Assuming for
instance that news are awaited at 13.30, then we set up this parameter to 30. This Parameter MUST
be from your BROKERS TIME..and NOT your local computer Time

CAUTION(*)
Once Again..Both these parameters must be set up based on your brokers
chart time. Assuming your broker is on GMT+2 and news are expected at
13.30 GMT, this means that you must set up the time to 15.30.

Pre.Event.Entry.Seconds
Any value (in seconds). This is the number of seconds BEFORE the news event you want the EA to
place the straddle. For instance if you decide to place the straddle 30 minutes before the news
release, then you have to put 1800 (30 min x 60 seconds = 1800).

Stop.Adjusting.Sec.Before.Event
Any value (in seconds). This is the number of seconds BEFORE the news event you want the EA to
stop adjusting the pending orders that are already placed and activated (Remember the pending
orders are automatically adjusted by the EA to keep them at a constant distance from price) every
minute. For instance if you decide to stop adjusting 1 minute before the event, then you have to set
up this parameter to 60.

Remove.Opposite.Order
False or True.
Also known as OCO, If Set to true, once a pending order get triggered, the opposite one will
immediately be removed. Otherwise, opposite pending order will remain in play.

Adjust.Pending.Orders
False or True.
If this parameter is set to true, then the EA will automatically adjust the pending orders to keep them
at a fixed distance from price until Stop.Adjusting.Sec.Before.Event seconds before the event. If
set to false, then once the pending orders are placed, they wont adjust and they will stay at the entry
levels.
.

Kill.Pending.After.Seconds
Any value (in seconds). This is the number of seconds the EA will wait after the event to see if the
pending orders are still in play. If they are and this parameter is set to true, it will remove them
automatically. Set to 0 to disable the feature.

Kill.Triggered.After.Seconds
Any value (in seconds). This is the number of seconds the EA will wait after the event to see if the
triggered order is still in play. If it is, meaning it hasnt reach its SL or its TP and this parameter is set
to true, the position will be closed. Set to 0 to disable the feature.

Place.Straddle.Immediately
False or True.
Set it to true if you wish to place a straddle immediately upon EA activation. Must be set to false if
you want to trade the news or if you just need to babysit a manually entered position.

OUR RECOMMENDED SETTINGS FOR NEWS TRADING:

Leave everything at Default Except the following:
1. LOT.SIZE :Here specify the desired lot size you which to trade during the upcoming news
event.
2. Take.Out.Lots : You can edit this field to specify the amount of lot size you want your initial
TP to close.
3. Initial TP1 : Set your desirable TP in pips or most people leave it at defaults..
4. StopLoss.Pips.Longs : Set your Initial SL level..Try to use something between 10-20 pips
to keep it tighter.
5. StopLoss.Pips.Shorts: Same value as above
6. Distance.From.Price.Longs : you can leave at default if your broker allow 8pips gaps for
pending orders,if they dont you should adjust this value to the acceptable one.
7. Distance.From.Price.Shorts : Same as above
8. Event.Start.Hour

and Event.Start.Minutes: This is the most important settings and is

frequently adjusted. You should adjust this on every news trade using your Brokers Chart
time.
9. Pre.Event.Entry.Seconds : You can leave at default or set to 10.
10. Every other thing,leave at default!!!

**HINTS**ONLY TRADE HIGH IMPACT NEWS EVENT WITH SIGNIFICANT EFFECTS ON THE FOREX MARKET,BELOW
ARE THE RECOMMENDED NEWS EVENTS TO TRADE WITH THE SOFTWARE,YOU DONT HAVE TO TRADE EVERY
SINGLE MARKET..ONLY ONES THAT HAVE HIGH TENDENCY TO CREATE HUGE SPIKES.

The Table below gives you a summary of our recommended News to trade, these News event have been known to
produce decent moves. Note that Although US Non-Farm Payroll is a heavy mover but has been categorized as a
fair Event because it actually create indecent huge spikes that usually spikes in both direction at same time..Only
trade NFP with small lot sizes and NEVER try to over-trade

*As you can see, we have tons of tradable News events each month, thereby giving us more profit potential

FAIR EVENTS

GOOD EVENTS

EXCELLENT EVENTS

CANADIAN RETAIL SALES (USD/CAD)

AUD_GDP q/q (AUD/USD)

AUD_CPI q/q (AUD/USD)

EUR_GERMAN ZEW (EUR/USD)

AUD_PPI q/q (AUD/USD)

AUD_Employment Change (AUD/USD)

GBP GDP Revised Q/Q (GBP/USD)

AUD_Retail Sales (AUD/USD)

AUD_Official Bank Rate (AUD/USD)

US_NonFarm Payrolls (EUR/JPY)

GBP_CPI (GBP/USD)

CAD_Employment Change (USD/CAD)

NZD_Employment Change
(NZD/USD)

GBP_GDP Preliminary q/q (GBP/USD)

GBP_Manufacturing PMI (GBP/USD)

GBP_Retail Sales (GBP/USD)

NZD_Official Bank Rate (NZD/USD)
GBP_Services PMI (GBP/USD)