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If it's not clear enough by its name, the Auto News Trader Forex robot trades by taking opportunity and make profit from Forex news releases. A well-known Forex trading strategy but could be hard to practically apply by traders due to the market volatility accompanying news releases. In fact to find a Forex robot like the Auto News Trader that solely focuses on news trading is not common these days.
An ECN Forex broker should be used with Auto News Trader for the best possible spreads and execution especially during news releases that can cause spreads widening and extra slippage which is done intended by some brokers that know the power of trading around the news to prevent traders from taking advantage and limit their profits in such periods. Some features in the Auto News Trader Forex robot try to limit the impact of this.
Forex news releases happen multiple times a day and this creates great chances for traders depending on Forex news strategies to trade in profit. NonFarm Payroll (NFP) days; the first Friday of every month should be generally avoided as during these days the news movement are too unexpected.
Overall, the Auto News Trader main idea is not new. The impact on spreads / slippage that news releases can have should always be taken into consideration. Some built in features can try to avoid unsuitable spreads and slippage. Auto News Trader should also be run first on a demo account without ignoring the fact that the brokers server on a demo account will be different from a real live account, so the liquidity affecting slippage are different in both.