Why suffer from big losses. The cTrader News Release Manager provides signals to pause your robots (x) minutes before, during and after a news release. If you automate your trading using technical indicators then you need this.
Why do you need to use a News Manager Robot?
One of the greatest features of the foreign exchange market is that it is open 24 hours a day. This allows investors from around the world to trade during normal business hours, after work or even in the middle of the night. However, not all times are created equal. Although there is always a market for this most liquid asset classes, there are times when price action is consistently volatile and periods when it is muted.
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If your automated strategy is based on technical indicators then you are gambling during major news releases, if your robot is based on high volatility during a news release then you do not need this robot.
Here is an example on a 15 minute chart, if the technical indicators would have signaled long it would have blown my stops, but luckily I had sell signals, but this also would have caused me problems as my robots would still be signalling a sell and opened a new short position at the bottom of the spike.
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Watch the News Release Manager Video
The video has been uploaded to 1080p High Quality, so do not forget to set your U-Tube video quality to 1080p HD.
By avoiding a major news release you bypass all the price spikes.
To get it to work you simply download the news file from MyFxBook in CSV format.
You can download the CSV file from the more tab as shown below:
"Watch the video below for a detailed explanation on how to configure Myfxbook"
The news release manager will email you whenever an event is about to happen for a particular currency, but the robot will only manage the currency list you specify in the user settings. You can set the robot to signal (x) minutes before a news release and (x) minutes after, I usually do not start trading again until 3-6 hours after a major news release. You can turn on email notifications which will inform you a news release is about to happen and when it is over and your robots have started trading again.
Pause All Symbols
If this is set to true, it will set a signal to pause all your currency pairs instances that you have running on your cBot, if it is set to false, it will set a signal to only pause the currency pairs in the list you provide that relate to the news even that is about to happen. An example would be that you have EUR, GBP, CHF in the "Currency List to Manage" and a news event happens that is only EUR related then only your currency pair symbols with EUR will be managed. This gives you much finer control.
Email Message Example: This is the type of email you will get before a news event happens.
You can pause all robot instances before a news release or just those that the news release related to, so a United States news release will affect all currency pairs with USD or Indices that are the US, to make sure the news files have loaded correctly, just run the robot and in the log file you will see the following: The robot checks the news file every minute.
How to Integrate with your Automated Strategy (cBot)
If you have downloaded the News Release Manager to be used with your own robots than you can easily manage your trading through our client module plugin, just click on the link below to download the example files.
Download the Client Plugin
Want us to implement the code into your own cBot and then test with simulated news events?
"If you wish to add the client code into your own cBot strategy then please just contact us"