Which news events should I pay attention to before taking on a position?
Non Farm Payroll is a big one to be mindful of
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Also, central bank interest rate announcements.
But be aware, the most common danger from significant news announcements expected on the economic calendar isn’t a surprise dramatic reversal, it is the widening of spreads plus unusual price volatility just before and just after. These can hit stop-loss orders even if your position has the right direction and price later continues as you thought it would. So many traders check back hours after an announcement and find they were taken out of the trade hours ago.
I’m not suggesting widening or cancelling your stop-loss for news. Probably better not to even be in the position when the news item airs.
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