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The calendar of economic events for the Forex market
In fact, the calendar of events is useful not only for trading in the Forex market, but also to work on any other platform where deals are made with currencies (binary options trading, for example). The calendar is convenient because it allows you to know in advance about the date of announcement of important information on events that may affect the financial market.
Knowing what time the scheduled a meeting, announcement of important statistical data and so on, you can pre-prepare for this moment. For a trader it is very important to be aware of developments relevant to its work.
There are different versions of the events calendar for the Forex, and they are all informative:
• the presence/absence of indication of importance of the event;
• demonstration of all more or less significant for the financial market events;
• do not enable/inclusion in the news list with different currencies.
In other words, you can find the calendar, where will be information on a large number of currencies, and you can stay on the version that reports data for the top ten banknotes. The same may have different degree of coverage of financial news. Not all versions of the economic calendar published secondary events, including this information is unnecessary for speculators.
Understand an economic calendar - decoding on all columns of the calendar.
A convenient calendar of events for the Forex
Above is a very handy calendar that displays all the needed for financial markets information, as well as each news has its own priority. Even a beginner, yet does not understand what is the difference between unemployment figures from the figures of industrial production, will be able to see what the first thing to pay attention to.
The number of bovine heads in each news item is an indication of the importance of the information. The maximum number is three, and this means that the events in which the number of goals is, able to significantly affect market price. These dates will be most important for a trader.
Forex is a calendar of events used in the most banal way, namely, to capitalize on the news. We may not know exactly where direction the price will move during the news, but we know exactly when it will happen. To see the market reaction, it is enough just to wait for important information and to make a deal.
You can act at least in two ways:
• for some time before the calendar event exhibited two pending orders at the breakdown ("stop");
• waiting for the market to react to the news and will continue to follow the price.
The first option is designed so that the price after news get started or to grow, or shrink (still). In this case, one of the orders is "transformed" into an open position, and the second we simply remove. If the market decided not to act on the information, wait a few minutes and deleted both pending orders.
The second option is that we wait for the market reaction and only then begin to act. It turns out that in the case of ignoring the events we were doing nothing, and if the price rapidly starts to move, then conclude the deal in the direction of its displacement. However, it increases the likelihood of re-quotes and slippage, which can significantly interfere.
There is another variant of application of the calendar of events on the Forex that is to identify important news that would at this time not to conclude transactions. Not a few traders who try to stay away from the news, so that these speculators will use the calendar for the opposite purpose - to avoid trading in times of release of important financial markets information.
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| Category: Forex | Added by: (06.11.2017)
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| Views: 289
| Rating: 0.0/0 |
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