It depends on several factors. If your trade is running in good profit then you should book some profit. I will close some part of my position and move stop loss to a safe zone. Closing the entire position may cause frustration if news move the price in your favour.
I try to save my side before high impact news, News can favor us or totally change our positions . That is why I usually close my positions or use stop loss and take profit . It helps me to remain in limited loss. I avoid trading just on the moment of news release.
Hi, I'm new to forex and currently practicing on demo account. I noticed that once a high impact news is announced at forexfactory, the price suddenly rise or decline up to hundreds of pips. Which makes me wonder, is it safe to keep my position open? Or should I close the position before the news is announced?