If you've been trading for Forex for a while, I'm sure you've heard of Forex Trading. Or maybe you avoided forex trading because you never knew how the market would react to a news release. But what if you have a low-risk way to trade currency news and wherever the market is headed, you can win. Well, this is what Barry Batista of forextradersdaily.com tried to do in his latest version of Straddle Trader Pro News Trading Software Software.
What is Forex News Trading?
To put it simply, a trader is trying to determine how the market will move once the news release becomes public. In the past, this was close to impossible as the market responds to the news message in a matter of seconds, so the trader barely has enough time to determine whether the news is good or bad, much less, to determine whether the currency pair will go up or down. In addition, the currency is usually squeezed so dramatically and so quickly that it made it nearly impossible to even enter the bargain.
So, what does Straddle Trader Pro software do?
Straddle Trader Pro is strictly news trading software. It's a mix of software and expert advisor. First you have the software interface that is directly related to the news feed that receives the data. It then processes the data and sends parameters to the expert advisor who puts the transactions in your account. Now, to enter the trade before going up or down, the expert advisor to Straddle Trader Pro will make 2 pending transactions. One for if it goes up, and one for if it goes down. So, whichever way it moves, it will trigger one of them and will automatically cancel the other deal for you so you don't get 2 deals triggered.
The advantages of this are that you enter the market faster than you could ever do manually. In addition, Straddle Trader Pro automatically takes into account some risk parameters for you, and you set your batch size, distribution and other factors before the news comes out, so you don't have to panic and mix to get a trade.
Finally, Barry Batista keeps a schedule of all the news releases on your website and tells you the input factors you should put into the software to keep your risk to a minimum. All news is pre-planned so it is never last-minute and takes about 10 minutes. Another aspect that many marketers value is that you never trade more than 10 minutes. Once the trade opens, you are usually in the trade for the first minute or 2 and then you're done. So there will never be any open trades to worry about.