Should I close my position before high impact news?

hitfx

Corporal
Messages
164
You can generate higher profit if market goes in the your favor although news had a huge impact on market that is why before placing order, news analysis should be done properly to minimize the risk.
 

dianajs

Private, 1st Class
Messages
778
Or you can lose a lot of money if the market goes the other way. Not everyone are capable of proper news analysis, unfortunately, but they still trade the news.
 

qitiandasheng

Private, 1st Class
Messages
59
I think so. High impact news will make forex trading movement become more uncertain, and now everyone will know this news at first time, so it's bettwe to close position and don't make trading news.
 

EURUSD

Sergeant Major
Messages
1,133
Some trader that based on pure technical analysis, usually they will stay away from the market if there are news high impact will released, because often making pair move uncertainty, often occur after move down rapidly then suddenly move to uptrend with large pips also.
 

EuroTrader

Sergeant Major
Messages
1,045
Some trader that based on pure technical analysis, usually they will stay away from the market if there are news high impact will released, because often making pair move uncertainty, often occur after move down rapidly then suddenly move to uptrend with large pips also.
It will actually depend on each trader as to what type of trading he prefers and then only he would be able to come to conclusion as to which trade is better for him and how he can get more profits in them :)
 

Froso@FXNET

FxNet.com Representative
Messages
395
If you don't understand the outcome of any high impact news then you should close your positions. Its best not to lose any profit that market is offering you.
 

downtrend

Sergeant
Messages
874
If you don't understand the outcome of any high impact news then you should close your positions. Its best not to lose any profit that market is offering you.
Well sometimes the market don't bother about any news and continue its movement. In this case you will be repenting on closing your position. So best option is that you should close half your position, set the other to break even and let it run.
 

dianajs

Private, 1st Class
Messages
778
Well sometimes the market don't bother about any news and continue its movement. In this case you will be repenting on closing your position. So best option is that you should close half your position, set the other to break even and let it run.
That's true, but you never know which one it will be, so it's better to be careful. One could, as you said, close half their position and continue with the rest, but that depends on how large your account is.
 

EuroTrader

Sergeant Major
Messages
1,045
That's true, but you never know which one it will be, so it's better to be careful. One could, as you said, close half their position and continue with the rest, but that depends on how large your account is.
As a Forex trader it is our duty to see how much profits we can get from our trading and how we need to improve upon them :)
 

ForexVerified

Private, 1st Class
Messages
582
If you don't understand the outcome of any high impact news then you should close your positions. Its best not to lose any profit that market is offering you.
And sometimes even if you do understand the outcome the price can still move the opposite way you expected as the same news outcome may have already been priced in.
 
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