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Should I make better use of economic calendars?

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    Nuathris
    Member

  • Nuathris
    replied
    You should start using the economic calendar at least because there are quite a few events that can be tracked in the Forex calendar. Some of them have a significant impact on the markets, others - not so much. It is critical to know which events cause increased volatility in the currency markets, which cause minor fluctuations, and which do not affect the market at all.

    Traders use the economic events calendar to catch price movements. If you see that actual data turned out to be better than predicted, that currency will strengthen relative to other currencies. So you can consider buying a country's currency with data that actually turned out to be better than predicted in the expectation that the currency will strengthen as a result of optimistic economic data. If the actual data is worse than predicted, it may cause the currency to depreciate relative to other currencies. So in this case, you may consider selling.

    It is very important to make transactions in the Forex market on time if we trade on the news, because the market reacts quite quickly to economic news. At the same time, some economic news may have a long-term impact on the market.

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  • Arcanebringer
    Member

  • Arcanebringer
    replied
    Oh, this is really the most important tool, which is necessary not only for fans of fundamental analysis, but also in general for all traders who are actively involved in the market. Why? Because it is with its help that you will be able to explain the sharp changes in the price, and accordingly prepare yourself in advance. In turn, this will lead to the fact that you will be able to use it for your own purposes or, conversely, you will be able to suspend your work during this period in order not to suffer any losses or to avoid stressful situations. But in general, I will advise you to deal with it, because this may be the reason for additional profit. And this is very interesting.

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  • Gholbizel
    Member

  • Gholbizel
    replied
    I know that many traders create a trading strategy based on the economic calendar. The most profitable variant of trading with this tool is opening a deal at the moment of news release, when the emerging trend is already clearly visible on the chart. Then you need to enter in the same direction as the market and set the desired value on the binary option - up or down. It is also necessary to set the expiry time. If the option turns out to be in the money, the exchange client will receive a payment of up to 85% of the invested amount. Provided that the direction of the market will be guessed wrong, the person will lose only the fixed amount initially invested in the option.
    If we talk about how much the trader's economic calendar allows earning in specific amounts, then everything depends on:
    -Start capital.
    -Selected strategy.
    -Appropriate financial instrument. The economic calendar allows you to view your preferences in this regard.
    Having analyzed the convenient form of organizing economic events, we come to the conclusion that all necessary parameters can be found in it. Convenient data filtering allows a trader not to read a lot of unnecessary personal information. Knowing the exact time of data release, you'll be able to fully apply your skills in trading on news, which can be very profitable, if you correctly assess the situation.

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  • ForexandCrypto
    Senior Member

  • ForexandCrypto
    replied
    Originally posted by GraceCFD11 View Post
    Pretty much every broker has an economic calendar, including my broker Jones Mutual, but I never even look at them. Should I be making better use of the information?
    Never heard of that broker.

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  • anna.semera
    Member

  • anna.semera
    replied
    The forex market influenced by economic news. So you have to see this information everyday.

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  • GraceCFD11
    Junior Member

  • GraceCFD11
    started a topic Should I make better use of economic calendars?

    Should I make better use of economic calendars?

    Pretty much every broker has an economic calendar, including my broker Jones Mutual, but I never even look at them. Should I be making better use of the information?
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