Should I close my position before high impact news?

Apip_saepudin

Recruit
Messages
14
News high impact still considered as important indicator for currency for many big trader, I think as trader also they need pay attention with another kinds of news high impact like as interest rate decision, maybe some technical trader they prefer closed order before news high impact released.
Most traders would rather close their orders before the news is taking place because it's kinda risky, you might MC'ed your account in a second.
 

Froso@FXNET

FxNet.com Representative
Messages
395
Some very high impact news effect the market to a great extent. you will see them often and it is wise to close the position before very high impact news as they don't respect the technical and you can get unnecessary losses.
 

EURUSD

Sergeant Major
Messages
1,133
Yes, specially for technical trader they better closed order before news high impact because sometime news high impact making pair move rapidly and randomly, many technical trader they also will reading news update although no trade on news based, closed position before news is to avoid big problem if the market move rapidly and randomly.
 

EuroTrader

Sergeant Major
Messages
1,045
True, you can see some really unpleasant whipsaws happening during high-impact news.
I would say that the best thing is to stay away from such types of news as they will not give us correct results and we may get losses in our trading at any point of time :)
 

mlawson71

Corporal
Messages
188
I would say that the best thing is to stay away from such types of news as they will not give us correct results and we may get losses in our trading at any point of time :)
Indeed. Not to mention that the market often moves too quickly for those who trade manually and in one moment you might be making a profit and in the next you're closing at a loss.
 

EuroTrader

Sergeant Major
Messages
1,045
Indeed. Not to mention that the market often moves too quickly for those who trade manually and in one moment you might be making a profit and in the next you're closing at a loss.
Yes, it is true that many of the traders are doing their trades on a manual basis but then what we have to understand is that the trader has to make some good amount of profits from his trades :)
 

downtrend

Sergeant
Messages
874
Some news can really turn the table of certain currency pairs. So its best for your account that you should close your trade or lock some profit in order to remain safe.
 

EuroTrader

Sergeant Major
Messages
1,045
Some news can really turn the table of certain currency pairs. So its best for your account that you should close your trade or lock some profit in order to remain safe.
Many types of news are coming in the Forex markets and as a trader we have to think and know which type of news is beneficial for our trading and how we are going to take advantage of that in our trades :)
 
Top