Avoid News Events whenever possible
Scheduled News Events Economic Indicators that are provided on news calendars that alert us.
-Avoid Trading During Elections.
-Avoid Events such as Grexit & Brexit.
Avoid these Short Term Events
USD
NFP (Non-Farm Payrolls)
Interest Rates (FOMC)
Jerome Hayden “Jay” Powell Speaks Chair of the Federal Reserve
CPI (Consumer Price Index)
EUR
Interest Rates
Mario Draghi speaks – President of the European Central Bank
GBP
Interest Rates (Bank of England’s Monetary Policy Committee Vote) 0-0-9
GDP (gross domestic product)
CAD
Interest Rates
Employment Rate
Non-Farm Payrolls
Retail Sales
CPI (Consumer Price Index)
AUD
Interest Rates
Employment Rates
NZD
Employment Rates
GDP (gross domestic product)
GDT (global dairy trade) not available on forex factory website
Interest Rates ( Although haven’t moved since 5/2017)
JPY
Interest Rates
CHF
Libor Rate (Interest Rates)
Game Plan
Do not enter the trade if one of these news events is coming up within 24 hours.
If you are in a trade with a big event coming up – if you are in a losing trade with a big news event coming up, exit it.
If you are in a winning trade with a big event coming up – before the first ATR of profit taking, or took profit and trade is below the first ATR, exit it.
If you winning big, took the first ATR profit taker, and the trade is winning big as normal. Proceed and carry on as usual.
Those websites are as follows:
Forex Factory: https://www.forexfactory.com/calendar.php
Street FX: https://www.fxstreet.com/economic-calendar