What i have learned in trading over the years is that i lose exponentially on News (especially because of wide spreads / Admiral Markets). I stopped trading any news around 6 month ago and it worked very well. Sometimes trading less is already a big help. Additionally i am trying to get rid of overtrading. Very often i made the mistake to keep trading on days where i suffered big losses and i couldn't accept to finish a day with a significant loss. These days a follow my plan to stick to a max. Loss per day of 1%. If this is reached i stop. Is there somebody with similar experiences and thoughts?
Trading the news is highly risky,I trade up to the news and close out before the numbers are released,or I wait for 10 mins after until it develops a trend.knowing when not to trade is what professional traders do all the time,one other way you can trade the news is put on a buy and sell order on the same trade,close out one order depending on direction,I only trade when I see I can make at least 20 points,chasing the market is a fools game.80% of the time professional traders are doing research looking at charts and news or on the phone to clients.When I went to work in London I was really surprised how little traders actually trade.One thing though it's completely different in a prop house,extremely difficult to profit because your trading every move.
"They mistook leverage with genius".