It would help if you understood how the NRM robot communicates with all the trading robots that have the News Manager logic integrated, it will not manage news events for just any trading robot, the robot must have code logic included to talk to the main news release manager (NRM) cBot. as you can see from the diagram below just a single cBot instance of the NRM will manage one or many cBots.
cBots With News Manager Integration
How do you know if a trading robot (cBot) has the news manager logic so that the NRM can manage the trading when a news event occurs?
If you download a trading robot from our website take a look at the product page this will usually tell you if we have integrated the NRM logic, you can tell if a robot can be used for news management by just looking at the cBot input parameters.
- Pause at news release - 'yes' = this robot will pause trading before, during and after a news event.
- Close all positions - 'Yes' = (x) minutes before a news event will happen, all open positions will close.
Please note that only the currency pairs that have the symbol that relates to the upcoming news event will close and not all positions.
Example
- A news event will happen in 60 minutes as defined in the NRM for the Euro.
- If both the input parameters are set to YES
- If this robot has a currency pair that has the EUR it will stop trading.
- So, EURUSD, EURGBP etc.