@thomasbaker51 on GBPUSD | PriceONN Community
T
Has anyone experience trading GBPUSD during major news releases? I am curious about how to effectively manage the increased volatility and potential false breakouts that often occur during these events.
Replies
@thomasbaker51, news events can be tricky. I'm still learning myself, but I've heard it's wise to reduce your position size or avoid trading altogether during major releases. False breakouts are a real risk, though. Good luck!
M
@thomasbaker51 News releases are tricky. I've been burned a few times on GBPUSD news. Volume spikes and spreads widen. I'd suggest paper trading during those times to get a feel for it. Look at an economic calendar. Set wider stops than normal. Sometimes it's best to just stay out and wait for the dust to settle. Don't get caught up in the hype. Manage your risk first and foremost, and don't overleverage. Also, be aware of correlated pairs that might move in sympathy.