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Your routines with Flex EA?

Hello folks,
I am new to this Automated Trading EA thing.
So, not sure of daily routines EA people usually do, along with another couple of things.
You guys might be able to help me out.
I am especially interested in knowing the followings:
1. How much do you pay attention to those financial events you see on Economic calendar?
1-1. Do you actually stop trading/clear(sell/buy) all positions you have before some events?
2. Flex EA has parameters for filters for news. Do you know how those work? In the document, it says “avoid trading” but does this mean that they clear (sell/buy) all positions before news? Or just simply STOP trading with positions retained?
3. Flex EA has a parameter called EndingTradeDay and the document says “it will stop trading.” Just “stop trading” will do ANY good? How does it help?
Thanks in advance.

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