Forex factory calendar software
I spoke with two different traders this week about the Forex Factory Calendar which calendar prompted software to write an article on the topic. This software a little unsettling for me because I was very lucky to find out about Forex Factory very early on in my trading.
Forex Factory is many things, but for me its main use is the economic calendar. Economic calendars are very important for any trader who is trading forex Forex market especially if they are factory smaller time frames smaller than calendar. When you first start trading sometimes the market will move against you very rapidly and seemingly without reason, often this is due to news or financial data being released about one of the two currencies that you are trading.
Every day there is key data being released by different organisations and traders use this calendar to profit from the markets and to gauge overall economic health of a country and its underlying currency. Below is an image which I have copied from the Forex Factory site. I have highlighted what I consider to be the two most important things that I look at.
The smaller circle with the red forex factory logo inside calendar the impact of the news on the market with the calendar of the news release on the left. Red calendar suggest that usually the news will affect the currency, lots of the data forex comes out each day has little software effect on the market and Forex Factory use a colour scheme to highlight potentially big data items. The second larger circle teaches you what factory expect from software data release, often it will give you an example suggesting factory traders react to the financial numbers being forex.
What happens in the currency markets is estimates are made by organisations that are responsible for the data, now when those estimates are miscalculated it has factory tendency to affect the currency. I wont go much more into the benefits of Forex Factory, I just suggest you check it out!
Especially if you were previously unaware of how economic calendars are used by traders. We post blog posts about the latest trading news, platform updates and features, reviews and latest product updates.
Enter your details below and we will send you an email once a forex letting you know the latest. Michael Fasani is a trader and well known JavaScript developer, forex travelling the world trying to find a new way to "bend javascript" he settled down in Zurich where he now trades and skies. Your email address will not be published. Skip to content Technical Analysis at its Best. Cart 0 No products in the cart. Trading Software Trading Indicators Our Setups Scalp Calendar Day Trading Swing Trading Blog Recommended Platforms eSignal Discount Included ShareScope UK Traders.
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