Time factor & Knowledge of underlying stock

As part of long term investing, I do not trade the news. Trading the news comes with high risks that could lead to huge losses.
It also really depends on whether I have knowledge about the industry and the stock. If I do not, I would not trade the news due to my lack of understanding on what is to come.
However, if I am equipped with the knowledge, I would move on to decide the market has already moved in anticipation of the news and the timeline to trade the news. To avoid taking up unnecessary risk, only when there is sufficient time then I would trade the news.