Straddle Trader Pro is a new product offered by Dustin Pass and his team at Forex Traders Daily.
The Straddle Trader Pro system
was created as a solution to the typical problems that straddle trading presents as described in Straddle Trading Basics.
Often, news traders are kept from getting into trades during high volatility and fast moving markets with re-quotes. Re-quotes happen when the price of a currency pair is moving so fast that the broker has a difficult time clearing the trades with their bank.
With the Straddle Trader pro orders are placed prior to market volatility reducing the possibility of getting a re-quote.
The news traders are also looking for deviation from the forecasted release data. If it is the deviation is too small it may not trigger other trading software used for news trading. However, with the Straddle Trader Pro system it doesn’t really matter if the deviation is large or small as long as the market reacts to it.
If the chart spikes, the straddle trades are entered. Sometimes it is not the current release that causes the spike but the revision of the last release. In that case, the Straddle Traders only need a reaction to occur in the charts and are not relying on a trigger to be hit.
On some occasions, the market moves before the data is released, in which case a spike may be seen before the actual data is released. This could happen because the news gets leaked. If so, the
is designed to keep the trade out of the news release if the spike hits before the trades are actually entered into the broker platform. And news, released before the data provider receives it can sometimes also cause market reactions before the scheduled release times.
Sometimes there is volatility before news due to speculators entering prior to news and the Straddle Trader pro helps eliminate the need to enter trades too soon and enters orders seconds before the news.
Lastly, there could be an unexpected market reaction to news, in which case the market moves in the opposite directions than the news would imply. Again, by using the StraddleTrader Pro system, it doesn’t matter if the news is subject to rumours or speculation and interpretation, as long as it moves.
The first component of the system comes in the form of a Metatrader Expert Advisor, which automates the process of placing the pending orders. The Expert Advisor knows exactly when the tradable news events occur and it will automatically place the pending orders for you a few seconds before the news is released. This addresses the problem of placing pending orders too soon and already reduces the number of false breakouts you experience.
The second (and most valuable) part of the Straddle Trader Pro system is the high speed news feed that is integrated with the Expert Advisor. As soon as the news data is released, the system will check to see if there is enough variance between the expected and the actual figures to cause a sharp movement in the currencies and if not, it will remove the 2 pending order that was placed…this all happens within 1 second after the news was released. This feature virtually eliminates all instances of false breakouts.