it is about 1 month that I am using EA for automated trading on my account
I heard that it is better to stop EA before - after news time to protect the account
some EA have this feature inside but many EA do not have this feature to stop trading during news time and we need to use separate EA for this to stop auto trading manually
My question is that news comes some hours per day that we have some open orders by EA
if we stop EA during the news and the market makes a big move then what will happen to our open orders?
if we let EA run news time then it will close order before big losses
so I need your experience about it
if you tried both then which method is better?
stop EA during news or let it control orders
Open two demo accounts. Choose one major pair. Apply automatic EA to one, apply manual stop to the other. Compare the two end results over a sufficient back test period and determine if there is a difference. Try the same on a different pair, try the same on all 5 primary pairs. Rinse and repeat.
I think you will find that the answer is “depends on your deep and broad understanding of what the EA is doing” and that requires some effort on your part. Backtesting is a no-risk approach to get your answers. It will be factual data, not opinions of other members. If 10 members tell you to stop and 10 members tell you to let it ride, are you any better off than you are now?
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I agree with the above post. Also, each news have different impact on the market, some serious while others don’t move the market at all. So stay close to your calendar and always avoid the Reds.
That is to depend on how you back tested your strategy.
Test it yourself. Open different demo accounts and enter the same trades; one with the EA you want to use and manual trade on the other one. You will find out whether you should use EA or not.
This is the reason why I don’t use EAs. I am not saying that they don’t work at all but what is the point in using them if you have to start and stop them over and over again. I am more into manual trading with my brokers and make decisions on the basis of what I understand.