In this post I will review the News Action Trader fully automated trading system developed by the LeapFX team for use in the free and ever popular MetaTrader 4 and MetaTrader 5 trading platforms for desktop computers. As the name suggests, this is a forex robot that trades news releases.
In order to use this forex robot, you will need a trading account with a forex broker. With so many brokers to choose from, I have conveniently compiled a list of my best forex brokers to help you quickly and easily choose a broker that meets your needs.
You can check the latest results of the News Action Trader on my best forex robots page and always keep in mind that past EA performance is by no means any guarantee of future results.
News Action Trader Strategy
The News Action Trader implements a news trading strategy that aims to take advantage of spikes that occur in the markets typically around news releases such as Non-Farm Payroll, Fed Announcements, etc.
Whilst news trading has been very popular amongst many forex traders for many years, it can be tough to find a trading broker that has suitable spreads and execution speeds during news releases.
Markets can be volatile around these times and thus spreads can widen greatly and slippage can be more than usual. It is thus imperative in my view that any news trading strategy has an ECN forex broker for the best possible spreads and trade execution speeds.
The News Action Trader robot trades on 6 currency pairs; GBPUSD, AUDJPY, AUDUSD, NZDUSD, XAUUSD, USDCAD. This gives ample trading opportunities for those who like more action.
The News Action Trader system uses certain unique methodologies that help it account for volatile spreads and broker slippage, which can translate into selective trades.
It will try to dynamically adapt the trade targets and stop loss based on both variables to help ensure trades caould be protected. In some cases, it can and will simply cancel out trades if it deems the conditions are not suitable.
You will find various unique technologies built into News Action Trader that you will not find in some other news trading systems, thus helping to keep up to date with the ever-changing market conditions.
News Action Trader Back Testing
There are no back tests on the News Action Trader website. It is actually quite difficult to accurately back test news trading strategies due to having the news releases date/times/impact incorporated into the historical data and most importantly, not being able to duplicate the trading conditions (slippage, spreads, etc) around economic news releases.
News Action Trader Live Results
To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
News Action Trader Summary
The News Action Trader comes with instructions, free updates and support. There is also a money back guarantee. You may wish to run this forex robot on a demo trading account to begin with although you should keep in mind that trading conditions are likely to be very different from a real live trading server, especially when using a news trading strategy. As with any news trading system, the News Action Trader requires using one of the best forex brokers for the best possible news trading conditions.
I have conducted many forex robot reviews and there are other alternative automated trading options that I would consider over this EA.