If you’ve been using our live triggers then you will have noticed that we set our triggers quite wide. This is because News Trader Pro takes advantage of the analyst’s forecasts being out of line. The more out of line, the bigger the correction.
If the forecasts are only slightly out, then often you will get a spike and reversal. No matter how good your fill, in these situations you will likely lose.
By setting our triggers wide, we aim to avoid these scenarios. If you’re setting your own triggers, then we recommend using the same principle.
You may have noticed that some news wires report figures differently. For example if a forecast is 10,000 this maybe reported at 10, 10000, 10k etc.
Your trigger values need to be in the same format as the forecast. If you’re using our live triggers, this will always be the case. If you’re using your own triggers, it’s important to check this.
For some of the thinner markets (such as oil and some of the currencies) we set the clicks on News Trader Pro to enter limit orders. We usually set these at just outside the range of the last 30 minutes. This aims to avoid getting filled at the extreme of a large spike.
This is set through your trading platform, if it is allowed. Not all platforms allow it.
In a lot of cases your fill is unaffected, sometimes it improves and sometimes you don’t get it.
We don’t always use this and it’s definitely not imperative. Just another tool available.