Forex News Items

[jungles]

Hi

1] if you are in a forex trade do you attempt to reduce your risk when significant red news is pending?

2] how do you yourself reduce your risk?

3] which red news items will prompt you to reduce your risk?

-----------------

typically i like to close positions at NFP,
but i'm wondering if there are other red news items i should reduce my risk at,
such as FOMC coming up at 1900 GMT


thanks for the replies

.

 

[wackypete2]

Take a look at this economic calendar:
Economic Calendar | ForexLive

Events are rated according to relative importance to the currency. Naturally, the highest rates events will project the highest volatility when the event occurs. Generally speaking, interest rate events, employment events, and central banker speeches or meeting minutes are the highest rated.

Peter

 

[jungles]

thanks Peter,

yes, i am aware of the eco calender and understand the ratings

Take a look at this economic calendar:
Economic Calendar | ForexLive

Events are rated according to relative importance to the currency. Naturally, the highest rates events will project the highest volatility when the event occurs. Generally speaking, interest rate events, employment events, and central banker speeches or meeting minutes are the highest rated.

Peter

 

[wackypete2]

thanks Peter,

yes, i am aware of the eco calender and understand the ratings

Ok, cool. Didn't hurt to post it in case anyone else is interested

In answer to your questions, I am a very short term trader. Rarely do I have or keep trades open during modestly important news events. Generally, if conditions are right I may take a trade after the news/data/minutes are out. Often I will use a reduced position size of 1/2 of what I normally trade due to increased volatility. Most important is that before I trade I take note of how fast price is moving or the range of volatility before placing a trade.

Peter

 

[jungles]

thanks for the feedback

Ok, cool. Didn't hurt to post it in case anyone else is interested

In answer to your questions, I am a very short term trader. Rarely do I have or keep trades open during modestly important news events. Generally, if conditions are right I may take a trade after the news/data/minutes are out. Often I will use a reduced position size of 1/2 of what I normally trade due to increased volatility. Most important is that before I trade I take note of how fast price is moving or the range of volatility before placing a trade.

Peter

 

[jungles]

any one?