Topic: Ideas and strategies for news avoidance?
When major high impact news items (NFP, Rate announcements, FOMC, GDP, etc.) come out they can obviously cause some major gyrations in the markets. If you're discretionary trading often times you'll just sit out those events and wait until the dust settles before making more trades. How are you all handling that from a long running algo standpoint?
There's the spreadlevel pro which limits your exposure to the crazy spreads that happen around news but it's not going to save existing positions from major reversals or spikes. I know some of the professionals use volume based safeguards etc to stop trading and or shutdown existing positions so I was curious if anyone had decent strategies beyond just turning off trading and closing positions by hand (which only works for expected news events anyway.)