Strategy for trading the news?

I have a basic system I've been using and it works pretty well. But it doesn't get into how to identify what pairs to trade or not trade based on the specific news and its impact history. Can anyone share a strategy or system they know that teaches this?

Thanks

Hi sphanlon, How does trading the news work for you? Maybe u will do some research on F.F or forexpeacearmy.com. Can you share your system? I need to learn how to trade the news.

If you look at the list below there is plenty of reading on this subject.

Trading the news as it's released is a bit of a no-no for traders these days. Brokers have to protect themselves with wide spreads and slippage for the major releases.

There are opportunities but they vary so much in their nature that it's difficult to go into them all here. An unexpected interest rate change is an example. It can set a pair to trending. Please let it happen now - we've had 2 months of the usual summer guano dropping on us.