Economic news filter
As you may already know, the financial markets are constantly affected by the different news and economic events throughout the world. In this guide, we will teach you how to set up the news filter to avoid operating at these dangerous market hours.
What is the news section?
News are classified by the impact. Low, medium and high impact.
This impact is directly reflected in the behaviour of the price of different trading assets, such as currency pairs.
Although the financial markets are unpredictable, when they are not affected by such news and economic events, behaviour trends can be detected and a trading strategy can be applied to maximize the results and reduce losses.
When markets are affected by news and events, behavioural trends are no longer detectable and this can negatively affect our trading.
This means that a certain configuration, indicator or signals can work very well on a regular basis, but when they are affected by news and events … they might behave in a totally different way.
As a result, the results can be very bad … so you have to be paying attention constantly!
But … How can I be paying attention if I am operating with an automated robot? Very easy! You do not have to worry…
The news and events section of our platform contains all the international live news that impact the prices of the currency markets.
Not only can you be aware of everything that happens worldwide, but we also give you the possibility to configure news/economic events filters that will pause your operations while these are going occurring.
These customizable filters will allow you to choose during which news and events to stop your robot from trading (according to their level of impact) and also how long to pause it, before and after each news and event.
Therefore, you do not have to worry about your operation being affected!
Just set up your news filter and let the robot do all the dirty work.
¿How? Let’s see…
Introducing the News and Events section
The window is subdivided into 5 columns…
A. Upcoming events
By checking this option, the news that have already occurred will not be shown on the window, leaving visible only the events/news to come.
B. Pause before and after the event
This is the time period before and after an event or news where the bot will momentarily pause the execution of trades.
The exact hour in which the event or news will occur.
Talks about the importance of the news.
It is given by a scale of 1 to 3 bulls, 3 bulls being a news/event of high impact, 2 bulls of medium impact, and 1 bull little impact. Note that this table is handled with asterisks, where each asterisk represents a bull.
Indicates the abbreviation of the currency that will be affected during the launch of the news/event.
- American Dolar – USD.
- Japanese Yen – JPY.
- Euro – EUR
Shows a brief description of the event/news
G. Set up news filter
Pressing this button will open a window where we can configure the news filter/events worldwide, or create our own events/rules.
Configure your News Filter
To go to the news filter configuration window, we must click on the next button in the form of a clock.
With this powerful tool we will prevent the robot from carrying out operations during news / events that may impact the currency market, causing unusual movements in prices.
The following is just a example. Each user has total freedom to set up the filter to fit his needs.
A. News filter
Here we can specify the minutes before and after an event or news in which the bot will momentarily pause the execution of trades. It is classified in the scale of 1 to 3 bulls, with 3 bulls being the most volatile, with the highest impact.
It’s 10:41 pm and the bot receives a signal. At 11:00 pm, a three bull news occur. As my news filter is activated, and I have it set to 20 minutes before and 20 minutes later for three bulls news, the bot will not do any operation and will show the following message «Trading paused due to a new event (s)».
B. Time filters
You can add custom events, as well as edit and remove them.
- You will be able to select the day, the duration of the event (given in 24 hrs format) and write a brief description of the event.
- To edit an event first select it, then click on edit and make the changes you want.
- To remove a custom event, simply select that event and click on the «Remove» button.