Forex Factory is the name of a popular forex grolier ea forex factory online forum. The Forex Factory website is indeed a great resource for all categories of traders.
Here you get to see traders and market players from the retail and occasionally from the institutional side of the market. The Forex Factory online forum also provides traders with several tools that are built to enable them profit from the market. The forex calendar is simply put, a schedule of news releases impacting the socio-economic and political sphere of several globally important economies. Forex Factory’s Forex Calendar: Key Features It is important for news traders in forex who want to use the forex calendar on Forex Factory to understand the features that are available for maximization of its use. The forex calendar on Forex Factory looks just like the snapshot shown above. On the left, there is the navigation tab showing the current month, as well as various links which can be used to display the forex calendar for the next day, the next week, month and even the previous day, week or month.
The section in the middle of the interface shows the news events that are released at specific times and dates. We also see the numbers for the news items on the interface as well as tabs which conceal the news details. In the middle of the screen lies the listing of the news events. There are several important keys here.
Moving from left to right, the forex calendar on forex factor shows the date on which the news will be released, as well as the time of release. Traders have the option of changing the time zone that will be displayed by clicking on the time tab located directly above the time column. The next item displayed is the currency of the country that will be affected by the news trade. This is usually a function of the country that the news is released from. The next item as we keep moving to the right of the interface is the market impact colour codes.
This is a very important component of the forex calendar found on Forex Factory. It shows three colour codes to demonstrate the market impact the news event is likely to have on the market. Low impact news have very low market impact and do not provide enough tradable volatility. Orange stands for medium impact, and red is for high impact. The title of the news release is shown next to the market impact buttons, as well as the news detail.
Clicking the news detail tab located just to the right of the news title on the Forex Factory forex calendar gives some insight as to what the news is all about, why it is of importance to the market as well as a hint on how often that piece of news is traded in a calendar year. Closing out this section is the numbers. The trader’s ability to read the numbers of high impact market news listed on the Forex Factory forex calendar is key to succeeding in a news trade. The larger the deviation of the actual number from the forecast, the larger will be the price movement of the currency.
A deviation has to be tradable in order to create a market opportunity. Taking the example of the news releases out of Canada at 8. Forex Factory forex calendar is 0. The actual figure came in at -0. This manifests on the USDCAD as a strong gain for the USD against the CAD as seen on this 1-minute chart taken from the FXCM platform. The forex calendar from Forex Factory is one of the best forex calendars to use for news trading in forex as it has all the features to enable traders understand what to trade. Simply visit Forex Factory to study the forex calendar available on the site using this article as a guide.
Healthcare stock to watch: Healthcare Services Group, Inc. Risk Warning: Trading CFDs is a high risk activity and you may lose more than your initial deposit. You should never invest money that you cannot afford to lose. Please be fully informed regarding the risks and costs associated with trading the financial markets.
If you continue to use this site we will assume that you are happy with it. Want to earn in the Market? This Expert Advisor trades news on any timeframe. The news are downloaded from the Forex Factory website. Make sure to add the URL to the terminal settings. The EA is launched on a single chart and defines all necessary pairs for trading on its own.