Dealing with news events

[Keltrem]

I am a price action trader. How do other traders deal with upcoming news events of high importance when a trade is still pending or is live? If live and in profit do you let it ride or take the profit? Do you have hard and fast rules?

 

[Rob]

If theres high impact news pending, something like Brexits colossal event the safest thing to do is to wait the event out. Cancel pending orders and if you can exit any trades a few days before hand. When events like that happen your broker will also seriously increase margin requirements to hold trades open for the affected pairs.