If most of your positions' direction are correct and get whacked by news releases, try look at spread/hedge (calendar or inter instrument) if you have any edge. I don't do it anymore, just giving out ideas.
Events don't commonly come out of the blue and turn everything upside down. Most events which negatively impact a given market come when price for that market is already in a downtrend. The converse also holds - most positive events come in an uptrend. Which does suggest that the old advice holds true - in an uptrend be long, in a downtrend be short.