A huge chunk of my trading is news-based. Your biggest problem is slippage (you have to pay alot more than normal just to get in the trade during the release), whipsaws (where price violently goes in both directions) and timing (price is moving faster than you can even enter your order in).
If you can figure out a strategy for yourself that works, than good for you. I believe it’s possible, and I’ve been doing it for ~2 years now. Still consistently adapting my strategy though, its never static.
Here is an example of what I mean:
CNY Trade Balance � aspiringtwenty5
I went through an entire year’s worth of technical data to look for clues/hints/signs of a pattern, and I pay attention to every little thing that happens in the market and write it down. I’m sure if you run with your data and get some real homework done, you will probably find what you are looking for.
I don’t know if posting outside links is allowed, so if it isn’t I’ll take it down.