In the Forex market, which is more important-to know what the news is, or when it is going to take place? There are many important news announcements each month. It is important to know what the topic of the news is and when the announcement is going to be made but by the time we know what the news is the market has already moved. By the time you know what the news is it is to late to benefit from the news announcement break out.
It is my experience that if you are reading the news, then it is history and the market has already moved with respect to the news. Many times you will read that the news says a currency is getting stronger against another and should move in a certain direction but the market moves in the exact opposite direction. So I have found that it is not the news but the perceived understanding of the news that drives the movement and direction of the market.
It is important to keep up on the major news because it can affect the market. You should also use some good technical indicators to help you know when to enter the market and manage your money for the best trading result. It is also good to pay attention to the trend of the overall market to help with your trading.