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Only brokers that meet certain regulatory requirements are featured on the list. In other words, the vast majority of fraudulent companies are automatically excluded from the list.

The Forex calendar news out of the United States is one of the busiest of them all. You shouldn’t overlook setting up your time zone when you first start using the calendar. That’s because you need to have the platform in your time zone. Once you set-up your time zone, it should stay that way in your settings until you decide to change it again. So, you won’t need to do this each time you use your calendar. That column demonstrates what people were predicting before that news being released. You’ll see whether those predictions were correct or incorrect, and that’s measured by the “actual” figure information that is shown in the actual column.

Forex Factory Provides Information To Professional Forex Traders

By default, the reported figures are calculated using the account equity. For those who don’t know, your account equity represents the total amount of money you have in your account, including unrealized profits and losses. To create your explorer, you need to connect your brokerage account where your trading data will be automatically imported. Please note that the explorer is only compatible with the MT4 and fxTrade platforms. The reason you should check your calendar each morning is because certain pieces of data tend to spark significant volatility in the market.

  • Their blog describe probably the best winning strategy called “No Brainer trades”.
  • So most probably the currency will have a low trading volume that day.
  • Many technical traders make the mistake of thinking that, because they take a technical approach to the market, they don’t have to pay attention to news events.
  • Once added to your toolbar, this button will let you to check the status of a site from your browser’s toolbar.
  • You should now have your time zone set and your filter configured the way you want.
  • For the next two weeks, all Euro pairs suffered across the dashboard.

If you want to get a more concrete picture of the distribution between long and short positions, you can head over to reviews and take a look at the sentiment indicator. Believe it or not, you can use Forex Factory to get personalized advice from professional traders for free. Fortunately, the Forex Factory team knows this, and that’s why they built the trade graph which makes it easier to understand critical aspects of your trading performance quickly.

Economic Calendar Is The Stand Out

If you’re a contrarian trader, that means you tend to go against market trends. That is to say, you want to sell when everyone else buys and vice versa. We prepared a quick checklist for you about the things you should cover. You’ll find it useful, even if you keep everything on your local computer instead of on Forex Factory.

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The reviews news calendar will be updated automatically, usually within seconds of the official data release. It’s incredibly easy to use and is one of the more accurate calendars out there.

How To Trade With The Forex Factor Economic Calendar

Whether it be something that was just announced or a more gradual flow of news that causes market sentiment to either fluctuate or remain constant. Should you close the trade and book a small profit to be safe? But then what if the market moves in favor of your position? If you close it now you risk missing out on potential profits. We’ve all been there – that point of indecision before a major news event is about to hit. This is obviously the safest place to be with major news around the corner. You have nothing at risk and you get to objectively analyze the price action that forms as a result of the news.

Regulated Brokers

High, Medium and Low Impact news are represented by objects looking like a folder top that has been eaten by a caterpillar. I should have placed the calendar legend in the #1 spot but hey, I got distracted whilst writing this post so that means its going to make the last of the list. Now I will go through each one of the calendar features numbered as shown above. Here, Canada CPI has seen a shock decline from the previous month as well as missed the forecast.

Below you can just read over or get your hands dirty and apply the information to personalise the news calendar. We will also highlight some of the information on the website that is slightly misleading – for example the market sentiment tool they have. However, the pin bar and inside bar really embody the essence of how news can influence a market. In fact, all Forex trading strategies are a byproduct of news in one way or another. Your other options are to take a partial profit and leave the remaining position on or keep the entire position open throughout the event.