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.
This is yet another forex robot from the LeapFX team whose other forex software I have previously reviewed, including Funnel Trader, Trade Explorer, AX Trader, DynaScalp, Jet Trader Pro, Gold Trader, Arbitron, Econ Power Trader, Automic Trader, Auto Arb, Fund Trader, Easy Money X-Ray Robot, Skilled Trader, Pattern Trader Pro, Trend Hunter Robot, The Money Tree Robot, Wave Scalper EA, Quick Scalp Trader EA, Dax Day Trader, King Robot and InstantEA. You can tell from the vast number of forex products that they have available they certainly have some experience. However, many years in the forex industry has taught me that does not exactly equal results.
You can tell from the vast number of forex products that they have available they certainly have some experience. Here we will take a look at the News Action Trader EA, covering the trading strategy that it uses, along with analysing any backtests provided and most important, verified real results. Hopefully this will help you to decide if this forex software is suitable for your own trading goals.
News Action Trader EA Strategy
The News Action Trader EA 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. I have always found news trading tough simply because the market and broker conditions can become so unfavourable during news releases. In fact, some traders and forex robots will actually avoid trading around news due to the potentially extreme volatility.
In saying that, 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. IC Markets is my top broker choice for running automated trading systems as they have plenty of liquidity providers which can help get trades executed at the best prices.
The forex market 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.
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.
The developer has made all of the News Action Trader settings externally available which means that you can adjust them via the inputs window when you attach this robot to the charts in your trading platform. You can always just use the default settings provided by the developer that have already been optimised but you should always check to make sure that the lot or risk size is set to a suitable level for your risk preferences as every trader is different in that respect.
News Action Trader EA Back Testing
There are no back tests on the News Action Trader robot 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. That being said, without any backtests we cannot even get a rough idea of how the bot may have performed over many years of historical data across different financial instruments and chart timeframes. I think the LeapFX developers could improve significantly by providing 99% modelling quality backtests just like Forex Robotron does.
News Action Trader EA Live Results
Although the LeapFX team have shared a verified Myfxbook account where you can see some News Action Trader results, they have not been updated for a long time now. This is disappointing as many of the top forex robots such as the Forex Flex EA have results that are frequently updated. This is important to see how a particular trading robot has been performing in recent market conditions. To see the latest live verified trading account performance of all forex robots please visit my best forex robots results page.
News Action Trader EA Summary
Overall, I think the News Trader expert advisor has massive room for improvement. Whilst it may seem like a logical automated system on the surface, it is lacking in too many areas in my opinion. Specifically, I would like to see some long-term backtests provided and also the developer should update the Myfxbook results. This way, potential users can get an idea of how good or bad the News Action Trader software has been performing recently.
The News Action Trader EA 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 robot 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. Please feel free to take a look at my forex robot reviews for some inspiration.
News Action Trader EA
$397
Pros
- Fully Automated News Trading Robot
- MT4 & MT5 Compatible
- Customisable Settings
- Multiple Financial Instruments
- Verified Results Provided
- Any Trading Broker
- Full Support
- Free Updates
- Detailed Instructions
- Money Back Guarantee
Cons
- No Backtests
- Results Not Updated
- Broker Sensitive
- Requires Low Slippage
Self-confessed Forex Geek spending my days researching and testing everything forex related. I have many years of experience in the forex industry having reviewed thousands of forex robots, brokers, strategies, courses and more. I share my knowledge with you for free to help you learn more about the crazy world of forex trading! Read more about me.
