I have tried to trade the news many times. FED/ECB decisions, Non Farm Payrolls, OPEC etc.
Sometimes it turned out great – other times bad. My experience is that it is not worth trading on. It’s just to hard to interpret on.
One time I traded on an ECB rate announcement. ECB stated a decrease in interest rates and I went long DAX.
After three hours the DAX was up 3,31 percent. And I was in BIG TIME. The best trade I have ever made in terms of gains.
Since that day I have tried to trade the news. How hard