Is scalping the economic news a viable system for forex trading. I noticed todays unemployment surprise would have been amazing having gone long the dollar against the yen, and the other days Fed announcement in the UK was great having shorted the pound. I'm sure that the price spikes can be very quick and a market order will probably have some slippage, but is this a feasable way to trade? Afterall the Forex market is super liquid so it looks like you can make +100 pips on the upside and bail out quick for a 10-20 pip loss. I know it is obviously important to pick the right currency pair, because the EUR/USD and GPB/USD got whipsawed on the news today. Any feedback would be appreciated.