News trading is permitted during the Challenge Phase. However, in the Live Simulated Accounts, News trading is prohibited.
Any trade opened or closed 3 minutes before or after a Red Label/High Risk news release will result in the removal of any profits made on all applicable trades in violation. It is important to note that this is a soft breach and will not result in the termination of your account. You are also free to continue holding news trades through the 3-minute violation window.
Closing a trade 4 minutes after a high-impact news event is not a violation of any rules, and you are permitted to do so. To understand which news events are applicable, please visit FOREXFACTORY, which will align with our restrictions filtered by “red folder/red label”.
Only the affected currencies are restricted during the news event relating to the affected pair. For example, all news events affecting USD will result in the restriction of USD-denominated pairs such as EURUSD, GBPUSD, XAUUSD, SPX, NAS, DOW, etc. Forexfactory includes the affected currency for each news event for reference.
Pending orders added but not executed during the news window will not be affected in any capacity as they are not buy or sell orders. We understand this somewhat limits long-term swing traders and are exploring options to allow this under certain conditions.
Please familiarize yourself with this calendar and the dates of Red Folder news events. To access the link directly, please click the button below:
We hope that this will promote good risk management and more consistent trading behavior within our trading community and will help clients establish a good, consistent trading pattern.
Disclaimer:
All content published and distributed by MyFunded Solutions LLC out of Delaware, MyFundedFX, and its affiliates (collectively, the “Company”) provided for general informational and instructive purposes only. None of the information provided by the Company or contained herein is intended as investment advice, an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of, any security, investment, company, or fund. Leveraged products such as CFD’s and FX trading are complex instruments with a high risk of losing money. Please note; The information on the website is not directed at any jurisdiction and is not intended for any use that would be contrary to local law or regulation. Copyright (c) 2023. All rights Reserved. MyFunded Solutions LLC out of Delaware.