Hey mate,
I think in the situation mentioned by you, I would suggest you to put a stop loss. This act of having a SL will secure your position.
For example you are trading EURUSD pair and you have gone short on it i.e you expect it to fall and it will only fall if USD performs better.
You are expecting Major macro US economic data. You can check its expectation, if the expectation is more than the previous result,
you get a positive signal for a particluar data and accordingly place your stop loss. Now, if the US economic data comes negetive or below the
expectations EURUSD will rise and in your case, you will incur loss.In order to limit the loss, Stop loss can help to minimise the loss. If the
US data had come out positive, EURUSD wouldve fallen and you have high chances of earning huge profits which you wouldnt have if you had closed
your position before the major news. I hope, your quiery is solved.
Happy trading!!