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Should I close my position before high impact news?

Discussion in 'Beginners Bootcamp' started by Azlan00IM, Jun 25, 2015.

  1. EuroTrader

    EuroTrader Sergeant Major

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    Those types of news that have a high impact on the currency rates are the ones in which we have to remain careful. This is also important because we know that our profits will only depend on the correct analysis of that news :)
     
  2. downtrend

    downtrend Sergeant

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    If you are not a fundamental trader and you trust your technical trading, then you should neglect news and do according to your trading plan.
     
  3. dianajs

    dianajs Private, 1st Class

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    That's really the gist of it. I only trade news when I have a good understanding of their possible consequences. If I am not sure I avoid doing so altogether, because otherwise I just cause myself trouble.
     
  4. EURUSD

    EURUSD Sergeant Major

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    Some trader usually they closed order before news has been released especially for technical trader which relying use technical analysis only which they have reason news often making movement randomly and unpredictable
     
  5. carnelian

    carnelian Private

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    As they say its better safe than worry, so if you worry too much about any particular high impact news, then you should close your trading position before any high impact news.
     
  6. iMusingKiMi

    iMusingKiMi Sergeant

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    It still depend your trading style. If you are a short term trader, go away when it is high impact news.
     
  7. downtrend

    downtrend Sergeant

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    Yes, scalpers and inter day traders should keep away from market during news time as technical analysis don't give good results on lower time frames during news.
     
  8. iMusingKiMi

    iMusingKiMi Sergeant

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    Yeah, very important for them. For me as a long term, unless some monetary policy or economy change, otherwise nothing much affected.
     
  9. downtrend

    downtrend Sergeant

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    For some very high impact news, my suggestion is that you should close your trade or don't trade near or after such news.
     
  10. zarifsa

    zarifsa Recruit

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    for high impact you should use buy stop and sell stop pending order.if your
    broker execution is good.
     

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