Trade the News Profit This Week

This week, 3 automated trades went off during news releases with 2 of them reaping profit.  In this, week 7 of the FXEngines experiment, I profited a total of 41 pips to bring the 7 week total to +89 pips.  Wait until you see how much I lost this week with my manual trades…

http://www.forexproject.com/FX_Engine_Performance/

This was the first week that I traded the Ultra-Aggressive strategy which is explained below:

ENTERING THE MARKET
This engine uses the NEWS SPIKE INSTANT signal for market entry. At the outset of a news event this strategy will
activate and begin evaluating market prices. As soon as a price spike
is sufficient to meet entry requirements, this strategy will
automatically enter. Once the engine enters the market, the exit
strategy will take over to both protect against excessive losses and
take profit.

EXITING THE MARKET

This strategy uses an unusual exit method with a signal-based stop.  When a trade is entered, a 40 pip fixed stop is initially placed but this stop is not expected to be used.  Rather, the signal stop is expected to be used.  The signal is a breakout of 5 pips below the low (for a long trade) or above the high (for a short trade) for the last 30 minute bar.  So when the trade enters, it may enter at 1.2850 long with a fixed stop of 1.2810.  However, the low of the last 30 minute bar minus 5 pips may be 1.2832.  Is is in this way that the stop varies.  It will continue to change every 30 minutes to account for the most recent high or low, and if that price is hit an exit occurs immediately.

As I've said before, I'll continue on with this experiment.

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