News trading also depends on what you are trading and what kind of news. If you are trading FX with major pairs then economic news like nonfarm payroll can certainly create a huge short-term swing to take advantage of.
News trading involves trading based on the market expectations both before and after the news has been released which requires traders to make quick decisions as the market gets influenced promptly. Forex market reacts mostly to macroeconomic news. News that suggest hawkish central banks results in increasing the value of the currency w.r.t other currencies and dovish central banks leads to the depreciation of the currency value.