New here - Question on managing overnight positions on high-impact news
Hey everyone, just joined up. Been trying my hand at day trading futures for a bit, mostly ES and NQ, but I'm slowly dabbling in longer swings on FX pairs like $EURUSD. One thing that keeps nagging at me is how to properly handle a position I might want to hold through a significant economic announcement that's outside market hours for my primary instrument. Say, FOMC or NFP hits after I've put on an overnight swing. I know the standard advice is 'don't be in the market', but sometimes the setup looks too good to pass up, or I just misjudged the timing of the news. Do most of you just suck it up and accept the gap risk, or is there a smarter way to hedge that doesn't completely eat into your potential profit? My initial thought is just cutting the position, but that feels like I'm leaving money on the table if the move goes my way.