Do you trade during Fed/ECB/BOJ announcements?

Just curious how most go about these days when the FED, ECB or BOJ making big announcements pertaining to monetary policy ?
Personally because Im a short term trade usually up to 4 hour before an announcement and depending on the announcement after I try to avoid the markets.


Just curious how other traders go about these days.



P.S Was trying to do a poll but not sure how. If you know can you PM me, thanks

I used to do it before, but now I never trade at least an hour before the news, or I completely avoid trading on days like this (NFP, FOMC etc)

I figured out that consistency is the name of the game in trading. If you can be constantly profitable week after week, month after month, then you'll achieve your goals. Making couple of hundreds pips on events like this means nothing. Sometime you win trading on the news, then on the next event you crash completely. It's more like gambling.

The only path to success is to develop a system that consistently gives you R:R ratio over 1:1 and/or win rate of more than 50%.

I try to figure out which economic indicators the central banks are watching to determine monetary policy, position myself in that direction beforehand and walk away. I hold positions for days/weeks so can't really avoid being in the market when announcements are made.

If you consistently buy a currency when economic indicators say the economy is expanding, and consistently sell a currency when the economy is contracting, you'll be on the correct side of central bank announcements more often than not.