November 10, 2022 at 16:54 #130752Alan NorthamParticipant
Does FSB Pro allow to select if an EA will close trades before an important news announcement? I have RSB Pro but do not know what is can and cannot do. Recently, Petko completed a beginners course for FSB. I took this course but did not learn enough to understand why I should use this software instead of EA Studio. I find it a show coming to have a software bundle that includes FSB Pro but does not include the RSB Pro course. If FSB Pro does not allow to select whether or not an EA should close all open trades before an important news announcement then I think this would be a valuable update to EA Studio and or FSB Pro.November 10, 2022 at 17:32 #130774
Glad to hear from you. There is no such filter, and with my tests during the news, I never concluded that it is better to pause the EAs.
You can do such a test with the very same EAs in two accounts. In one of them, you can pause the EAs, and with the other, you can leave them running 24/5.
Test is at least for a month.
FSB Pro works slowlier compared to EA Studio (solved now with the Express Generator), but it has higher time frame filters, more analytical tools, and more indicators.
FSB Pro works on the closing of the bar(also during the bar), and EA Studio on the opening. Which makes them quite different, and it is hard to say which one is better. They generate different EAs.November 10, 2022 at 22:19 #130792Samuel JacksonModerator
FSBpro has the functionality to add this yourself if you are able to code.
As to why to use either over the other, other than the new what is it you are trying to do with the software? If you expand a little further on what you are looking for then I can advise you further 🙂
Both software have their different strengths and weaknesses and compliment each other really well but it all depends on what you want to do.November 11, 2022 at 2:11 #130801Alan NorthamParticipant
During important news it is quite possible for the price of an asset to drop more than 5% of account balance if lot size is too large. This could then cause FTMO account to fail test. If the lot size is made quite low to avoid a 5% account balance drawdown then the FTMO account may not reach 10% profit by end of its testing period. I understand what Petko that over the long term the swings caused by important news events will cancel each other, however, when trying to use EA’s with FTMO this logic does not apply. The alternative is to either manually close all trades before an event, if I can remember to do so and I am at my computer which I may not be able to do, or to find an MT4 script I can add to each EA code. I am just trying to figure out how to handle this potential problem when trying to pass the FTMO testing period.November 15, 2022 at 16:43 #131121
I got your point now. I would close the trades manually before the news.November 16, 2022 at 17:58 #131198Samuel JacksonModerator
Yeah this sounds like more of a hybrid approach requiring sole manual intervention.
You could also run your algo on a few demo and monitor the magnitude of the moves around news releases to determine how it’s likely to impact.
I personally just leave mine running and don’t worry about the news, I just consider it to be captured in the history of my drawdown size and set my risk accordingly.November 17, 2022 at 15:01 #131268
I also keep my algo trading running all the time. The backtest includes past movements from the news, so if you have balanced money management, it should not be an issue.
You must be logged in to reply to this topic. Login here