Newbie question about trading during news

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I placed a trade on the GBPJPY, while there was USD dollars

[TD="class: first left time"]15:30 [TD="class: left flagCur noWrap"] USD [TD="class: left textNum sentiment noWrap"] [TD="class: left event"]Natural Gas Storage [TD="class: bold act greenFont, align: right"]92B [TD="class: fore, align: right"]82B [TD="class: prev blackFont, align: right"]79B [TD="class: diamond, align: right"]
14:45[/TD] USD[/TD] [/TD] Bloomberg Consumer Confidence[/TD] 36.5[/TD] [/TD] 37.7[/TD] [/TD]

and my trade went against me straight away and acted wildly, can news affect any currencies even though it was on the dollar?

 
shay14:
I placed a trade on the GBPJPY, while there was USD dollars [TD="class: first left time"]15:30 [TD="class: left flagCur noWrap"] USD [TD="class: left textNum sentiment noWrap"] [TD="class: left event"]Natural Gas Storage [TD="class: bold act greenFont, align: right"]92B [TD="class: fore, align: right"]82B [TD="class: prev blackFont, align: right"]79B [TD="class: diamond, align: right"]
14:45[/TD] USD[/TD] [/TD] Bloomberg Consumer Confidence[/TD] 36.5[/TD] [/TD] 37.7[/TD] [/TD]
and my trade went against me straight away and acted wildly, can news affect any currencies even though it was on the dollar?

Yes it can

These days HFT trading algorithms are using any news (they even weight "key words" for impact) and any symbol can get hit by it

 
mladen:
Yes it can These days HFT trading algorithms are using any news (they even weight "key words" for impact) and any symbol can get hit by it

that's why then.

So you think it's best to not trade 1 hour before and after major news if you're a pure technical trader?

 
shay14:
that's why then. So you think it's best to not trade 1 hour before and after major news if you're a pure technical trader?

Depends

Impact of some news is predictable (if you can estimate what will the correct value be). But mostly it is better to avoid news trading (fundamentals lost on their weights, and political news are flooding forex market too - with political news you can never know what will happen). At least. that is my opinion

 

Don't trade the news. Manipulated news and metatrader server side "plugins" working like crazy on news

 

See what happened today : all good news for used, and Euro was rising like crazy. Economical news are outdated : used as triggers not for their meaning

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