These days, checking the economic calendar before putting trades on or while managing trades has never been more crucial. For those who want to take advantage of the volatility that these events bring, this week’s question is for you!
For the record, here are two reading materials we have on this subject:
Now that that’s out of the way, if you’ve ever been successful at news trading, what are some of the things you’ve learned?
Hmmm… don’t?
As a beginner, I’d suggest you stay away, on the sidelines are the lesson teachers. Watch and observe. For several cycles on a specific event. You gain experience even when you’re not in the trade.
I usually don’t trade on News but sometime. Before the News releases, I will gather information to predict the way of market and place a buy stop/sell stop order a few minutes before the News is released with TP and SL. And my order always has a safe distance comparing with current price, example: if I trade XAUUSD, the current price is 1712.00, I will place my buy stop/sell stop at 1715.00/1709.00. After the News is released, I will keep the mouse on close button on platform, in worse case, the price goes against with my prediction, I will close my order manually because in the case price goes crazy after News released, your SL will not work correctly, it will become a big lost. It’s better to close it manually even you set SL already. For TP is same, sometime the price doesn’t meet your TP and turn away, let close it manually.
Find a job with JP Morgan Chase bank. It’s fast track learning.
This is a great question.
Come on, there must be somebody who’s doing well at this.
Don’t trade the news. There’s richer and cleverer people out there doing it, often with the gift of insider info.
@Blue2 Yeah, the rich and the affluent are minting money while normal traders like us spending time on TV and internet, watching news and doing technical analysis, just to lose at the end 
You probably have an edge if there is a strong.bull.or bear market London/Asia and go against the trend of these sessions if any, before the news is revealed.simple but you get better value if your right
As a retail trader forget about finding an edge regarding news announcement s.Just complicating trading your gambling
In my own experience DONT DO IT. I have never made a profit trading based solely on news with no technicals or price action. Extremely unreliable and I’ve never heard of any good “news traders” out there
Speak for yourself, if you are a good price action trader you will make money in the forex market
I trade news events! My favorite time to place the orders and then just wait for a good move! It is more like gambling then trading I have to agree…
Always Stay up-to-date. But choose carefully. Follow influential people and observe how they react to “news”, use multiple sources. Twitter is an amazing tool for that.
I pay attention to my RSS feed, but I watch social sentiment more than news.
@JennaFX: I don’t agree that its more like gambling. To me, you are simply following the market instead of trying to predict it, and there’s nothing wrong or “like gambling” by doing that.
You know yourself best. Do what works for you.
@Steven_H It is because I do not follow the trend or anything at that moment, just placing the orders both ways, I trade mostly like that actually… you are right if it works, it works, that’s what really matters 
Either wait for the market reaction or check the market sentiment and place your trade a day before the news release.