It is easy to get stucked in this trap when you read a particular economic news and tell yourself that it seems likely to make the market go in a certain direction. Once you convinced yourself that what you expect to happen is basically you digging for your account. In the early years of trading, many traders were stuck in the trap of trading in news and focused too much on fundamental analysis.
Trying to find out what the market is going to act next after the major economic reports are published appears to be obvious and useful to a trader at the time. However, you may be surprised to learn that the trader focuses too much on news that is losing money as prices tend to move in the opposite direction from what the news reflects.
It will be much more serious if you read an inaccurate or fraudulent news. Sometimes, it will lead you to the wrong decision. For example, information about some countries that will ban crypto, it makes many people massively sell their crypto. Of course, there are many reasons that affect your trading. Selecting a scam exchange also causes a lot of people lose some money is not worth.