Newstrading

to revive this....it IS possible to news trade but as pointed out it takes knowledge, good analysis to understand how different pairs react to each calendar item, even better knowledge of how to set up your system for each trade including use of trailing stops, TP etc. On top of the fundamental elements you then have the very real issue that the brokers you're using have better technology than 99.9% of retail traders at home. Their servers are setup to respond to the news in the same way that you should be (if you have the above nailed on).....but then you need to be able to submit an order and for them to accept it quick enough to get any edge on the movement.....remember they're not there to pay out....they're the house, they're there to scoop up your cash. The tricks played by brokers using even just the basic MT4 server side settings are enough to wipe out most retail traders and especially at news time.
So in summary....you'll need:
- as good or better an understanding of how the market will respond to the news....per pair
- as fast or faster access to the news data than your broker (that's quite expensive by the way)
- as fast or faster market data feed to enable in-trade controls (also quite expensive)
- tech capability to have 0ms response times with broker order systems (otherwise you will definitely miss the action on news)
- great coding skills to build out a system that manages all of this for you
- lots and lots and lots of time

Essentially if you don't have the above you don't have any edge to beat the brokers to the punch and will invariably get slipped and lose. Even with the above it will commonly result in slipped orders or no fills at all.

It's not easy, it's not cheap and it is hard to find brokers with which the strategy will work.



best of luck :D