Was planning to enter long, but unfortunatelly I already have a CHF trade opened and don’t want to double bet. Besides, there are the Prelim GDP q/q red news today.

Forex news and when to trade them

I found this list with almost all the important forex news as well as when to trade them. Hopefully will be useful for the traders trading the news. Cheers :)

RobotFX OCO News

RobotFX OCO News was designed to trade news events in an OCO approach. OCO stands for one cancels other and refers to the EA’s ability to close a pending order (or more) once the price reaches opposite pending orders.

Traders trading the news usually place two pending orders right before an important news event, a buy-stop and a sell-stop. During and immediately after the news the price is likely to move in either direction, up or down, therefore triggering one of the pending orders. After that, the remaining (pending) order is deleted.

The difference between RobotFX OCO News and other one cancels other experts is that RobotFX can place multiple pending orders at a distance of your choice from each other. Also, it doesn’t miss the other important features that any good EA must have, like stop-loss, take profit, break-even, trailing-stop.

As you can see in the picture above, the EA placed three pending orders of each kind, longs and shorts. Once the price will reach the first pending orders, the expert will close ALL the other opposite orders.

How RobotFX OCO News works