In this post I will be reviewing the Auto News Trader forex robot. As the name suggests, this is a fully automated forex trading robot that will place trades around news releases. It runs on the popular and freely available MetaTrader 4 trading platform. Trading news is a forex trading strategy that has been around forever although you have to give careful consideration to things that occur during and around forex news releases such as increased spreads and delayed execution – referred to in the trading industry as slippage. This EA will require a good forex broker. You can check out my best forex brokers to see those that I personally believe are worth consideration. Make sure you check my best forex robots results page for the latest results.
Auto News Trader Trading Strategy
If the name wasn’t a big enough clue, the Auto News Trader is a forex robot that looks to take advantage and thus profit from forex news releases. Trading the news is a well-known strategy although can be tough due to the market volatility around news releases. It is actually quite rare these days to find a forex robot such as the Auto News Trader that solely focuses on news trading.
I would personally use an ECN forex broker for the best possible spreads and execution especially around news releases which can cause widening of spreads and extra slippage, some brokers will know the power of trading around the news so will increase spreads/slippage to prevent traders from taking advantage.
Thankfully, the Auto News Trader forex robot has some features in place to try to limit the impact of this. The Auto News Trader trades on multiple currency pairs. With forex news releases happening multiple times every day there is ample opportunity to trade.
I would avoid nonfarm payroll (NFP) days which are the first Friday of every month – simply because the news movement are too wild for my taste at this time.
Auto News Trader Back Testing
There are no back tests on the Auto News Trader official website which is understandable considering it is not realistically possible to back test news releases due to the exceptional market conditions when they are released and it would require a huge amount of news data to be processed.
Auto News Trader Live Results
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Auto News Trader Summary
Overall, the idea behind the Auto New Trader is not a new idea. I must again emphasise the impact on spreads/slippage that news releases can have. There are features built in to avoid spreads and slippage that are deemed unsuitable and you can always run the Auto News Trader on a demo account to begin with just bare in mind the brokers server on a demo account will be different from a real live account and therefore the liquidity which effects slippage will differ. Full instructions are included for a quick and easy setup as is full support, free updates, multiple licenses and a money back guarantee.