Should I close my position before high impact news?

dianajs

Private, 1st Class
Messages
778
Regarding safety measures I'll suggest that you should close your trade. Even if you break even your trade or save some profit you'll still lose a lot of pips when price reverses on you.
Unfortunately one should always be prepared for a whipsaw during high impact events. That is something that happens pretty often and when it does a lot of people get burned.
 

downtrend

Sergeant
Messages
868
Most likely you should close your trading if you are in profit. Because if you have a small account you don't want your floating profit to get wiped out by a bad move because of news.
 

ForexVerified

Private, 1st Class
Messages
582
Most likely you should close your trading if you are in profit. Because if you have a small account you don't want your floating profit to get wiped out by a bad move because of news.
On the other hand, if you're willing to take some risks you can keep the positions open with stop loss/take profit (but it's best to be away from the screen, the movements and emotions might kill you :) ).
 

hitfx

Corporal
Messages
164
There is huge impact of news in trading so proper analysis should be done to make right entry into market because at the time of news there are many fluctuations in the market and we had minimize the risk.
 

EuroTrader

Sergeant Major
Messages
1,039
There is huge impact of news in trading so proper analysis should be done to make right entry into market because at the time of news there are many fluctuations in the market and we had minimize the risk.
For trading we have to make some efforts in the right directions. If we are doing consistent efforts then we will certainly get some success :)
 

downtrend

Sergeant
Messages
868
News releases can destroy any technical setup so its better to avoid trading near high impact news or save your running profit by locking in some profit or if you have a small account, then you can close your position.
 

EURUSD

Sergeant Major
Messages
1,133
News releases can destroy any technical setup so its better to avoid trading near high impact news or save your running profit by locking in some profit or if you have a small account, then you can close your position.
yes sometime after news has been released the making pair move spike movement, and often move randomly, sometime after move down trend but suddenly move to uptrend only few minute movement, many trader technical stay away from the merket if there are news high impact
 

EuroTrader

Sergeant Major
Messages
1,039
yes sometime after news has been released the making pair move spike movement, and often move randomly, sometime after move down trend but suddenly move to uptrend only few minute movement, many trader technical stay away from the merket if there are news high impact
We need to know and understand which type of news is more beneficial and then we can start doing our trades. There are many such considerations which we have to take into account :)
 

dianajs

Private, 1st Class
Messages
778
News releases can destroy any technical setup so its better to avoid trading near high impact news or save your running profit by locking in some profit or if you have a small account, then you can close your position.
The market often - but not always - continues in the direction technical analysis points out after a big news event, since it only makes the movement stronger. It's the whipsaws at the very beginning after the news come out that cause the biggest problems. Either way, I think it's better to just close one's position and wait out the storm, so to speak.
 

EuroTrader

Sergeant Major
Messages
1,039
The market often - but not always - continues in the direction technical analysis points out after a big news event, since it only makes the movement stronger. It's the whipsaws at the very beginning after the news come out that cause the biggest problems. Either way, I think it's better to just close one's position and wait out the storm, so to speak.
There are many types of moves that are actually taking place in the Forex and we have to keep a focus on them so that we are truly able to know and understand them :D
 
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