Creating the narrative for traders

Some Forex traders simply want to see what time and date the Forex news is going to be released and as that time is being approached, they exit all their trades. They may have made sufficient profits and don’t like the chance that the news might make the market go the other way and eat up their trading profits. As you can see from the image above, there was much more economic news released on that date. This skews the perception of retail traders only limiting them to specific pieces of news. Creating the narrative for traders to only trade on news which is absurd.

Therefore, we recommend ignoring this tool and hence why we have inserted this warning in case you thought they showed you if the market was net-long or net-short an instrument. This will https://www.investopedia.com/articles/forex/11/why-trade-forex.asp help you generate a real-time idea of how the market is pricing in the information. As you can see in the image above, some articles have the same impact symbols as the calendar.

Where Should I Send The Exclusive Forex Factory Calendar Guide?

Our aim is to make our content provide you with a positive ROI from the get-go, without handing over any money for another overpriced course ever again. We are sharing premium-grade trading knowledge to help you unlock your trading potential for free. Although the tools available can be used to gauge market participation we must highlight one tool that you should understand is misleading. Not only that but you can become part of a community, make friends with traders and interact different trading ideas with one another. This is really useful if you want to understand the granular aspects of account performance, plus all it takes is 5 minutes to set it up and get going. This may sound daunting, but this holds you to a commitment of completing the journal and responding to other traders who open up a discussion with you.

• After clicking “Filter”, you will get a screen like the one below.
• In this section, you will learn how to read the news event features so you can quickly digest and understand how the news event impacts the markets.
• This tool shows you briefly what percentage of traders are long/short on an asset such as EURUSD.
• But, as a general rule, since the U.S. dollar is on the “other side” of 90% of all currency trades, U.S. economic releases tend to have the most pronounced impact on forex markets.
• However, the Federal Reserve, the central bank of the USA, uses the Personal Consumption Expenditureindex instead of CPI.

The key difference between the two is that with the online trade journal is that you are publishing your comments, analysis, and results on one of the world’s largest forex forums. Imagine having a notepad that had all your wins and losses in and you can learn from it each week, you bet dotbig.com testimonials you will become a more profound trader. The information generated from a journal is vital for an up and coming trader to succeed. Now you will be presented with a chart that will display the price action of the EUR/USD . Click apply and you will have a new, more concise news calendar.

Forex Factory Calendar Feature #3:  Currency Column

Hence, unemployment rate acts as a leading indicator of future monetary policy decisions. Now you can use the forex factory calendar Forex news and the market tool to read the markets going forward and get an understanding of market behaviours surrounding the data releases.

GBP/USD would be affected by GBP announcements and EUR/USD affected by EUR announcements etc – and all will be affected by USD announcements such as US GDP data. In this example, ING Bank produced an article previewing the economic https://dotbig-com.medium.com/ data release. Other features can also be useful supplementary information such as the Forex Factory sentiment indicator. One thing that can influence your decision here is how far away your trade is from its profit target.