Newstrader EA Trading Review - A Tight Trading Game with 30-pip Stop Loss and the Biggest Winner Up-to-date (10)

The Newstrader system had been caught out by a larger-than-expected "high-low" swing in today's news trading action. Let's revisit the USD/CAD market after the releases of GDP and RMPI figures. The Newstrader employed a tight stop-loss (SL) level of 30 pips soon after its entry. As shown below, the position was stopped out in today's market conditions.

Long USD/CAD for -30 & -30 pips; SL = 30

I wish I were there just to put on an extra few "emergency pips", in order to hold out this type of "fake" swing. I should have profited 100 pips if SL =35 pips was set (see results below - this would provide a rather different scenario with good return instead). The price was seen rising further after the final exit.

Long USD/CAD for +25 & 74 pips; SL = 35

Despite having a strong benchmark results with SL = 30, and may be for the sake of peace of mind, perhaps it's a good idea for myself to throw in a few extra pips in my future trades.

On the other hand, the Newstrader EA had produced the biggest winner up-to-date with the latest entry in the GBP/USD market for today's US Consumer Confidence data. The program managed to lock in a total of 145 pips in less than 15 minutes. A sweet revenge over early system setback.

Short GBP/USD for +25 & 120 pips; SL = 30