Straddle Trader Pro officially launches on July 11th. You may have noticed a lot of e-mails flying around from marketers pushing you to the STP webinars, trying to get you to opt-in here, opt-in there. Forget about all that stuff, lets just look at the important things, the facts. So what exactly is the Straddle Trader Pro? Is it your everyday run of the mill rehashed expert advisor? Or is it some new, unique and ground-breaking? What kind of results can it produce? What are the risks? Let us dive in and take a look.
Barry Battista is the developer of Straddle Trader Pro who is a founding forex trading member of the forextradersdaily.com website.
STP is a forex expert advisor that is hooked up to a custom news feed which it uses as a trigger to open new trades. Theres a few news trading EAs out there already so it will be interesting to see what Barry can bring to the table with Straddle Trader Pro. Remember that most brokers raise spreads during major news events making profits off them much harder to come by. So unless he plans to attack the smaller, yet harder to read news events then Barry may have his work cut out for himself.
With is being a news trader, Straddle Trader Pro will most likely have a very low trading frequency. We are talking about just a few trades a week, and maybe a few more during high impact news weeks. But you never know, if it does indeed trade a lot of the smaller news events, then you can expect atleast 5-10 trades a week instead of 5-10 a month.
How does Straddle Trader Pro work exactly?
When a news event is scheduled to happen, and that news event meets the criteria that Straddle Trader Pro requires then it will open two trades seconds before the news is announced, a long and a short. Once the news gets announced STP will determine a few things.
1. How is this news going to impact the currency pair. Is it going up or down? Then it will decide which trade to keep and which one to cancel.
2. It will look at how high of an impact the news has. If its not enough, it will cancel out of both trades.
3. If Straddle Trader Pro does decide to keep one of the trades, it will then calculate an appropriate stop loss and take profit based on how much of an impact the news is going to have on that specific currency pair.
This is all well and good, but its going to be crucial for STP to decide which trade to keep as quick as possible. Why? Because if it takes too long, then you may miss some or even most of the market movement.
The good thing about this type of system is all users of Straddle Trader Pro should have very similar results making comparisons and discussions of tweaking easier.
Ok so you know how it works, lets see whats included…
Straddle Trader Pro will launch on July 11th at a price of $1997. You can either pay in full or a 3 installment payment option of $832 over 3 months. Here are the training modules included with Straddle Trader Pro:
•Module 1: Introduction to Forex
•Module 2: Introduction to News Trading
•Module 3: Rating the News
•Module 4: Using the Straddle Trader Pro EA Software
•Module 5: Building Your Personal Straddle Trading System for Wealth Generation
There are some higher priced forex training courses out there upwards of $5000 that will teach you all of the above, sure. But then you are left hanging after that having to start making the trades on your own. Atleast with Straddle Trader Pro you not only get the training course, but you get the software to do the trading for you, and you are left with the knowledge of how and why its trading to make your own trades on the side.
In addition to the training modules, you will get the following:
•Straddle Trader Pro EA and Software
•Training Course Guide
•21 Trading Templates for MT4
•Premium Members Website Access
•Trade Research Tools
•Unlimited Customer Support
If your someone serious about getting into forex trading, this is going to be a great place to start.
If your someone serious about learning news trading, and getting an automated system with it, this will be for you as well.