It is yet possible to do trading in forex with news

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Most SFO readers are probably aware of this already, but it’s
important to stress that newcomers to forex trading should
generally avoid trading around economic data releases. By

“trading around” I mean going into data events with open

positions or having orders that are likely to be triggered in
the immediate reaction following any data release. The reason
for this is simple—market reactions to data can be both
volatile and unpredictable. The news might be U.S. dollar-
positive, for example, but the dollar might still weaken
if the overall trend is negative for the dollar. There’s an old
market truism, which holds that the reaction to the data is
more important than the data itself.

When it comes to trading around data releases, experienced
traders know to sit back, watch the report, assess the
market reaction and then get back into the market. Think
of it in terms of WWI trench warfare—when the whistle
blows, do you really want to be in the first wave “over the
top?” Until you get a better idea of how forex prices react
to data, you can save yourself a lot of unnecessary grief
(and money) by keeping your head down, assessing the

reaction and then deciding how to trade.