Forex Factory Calender – Tracking Forex news is made easy with the Forex Factory Calendar. Calendar offers convenience and utility through its easy-to-use interface and features. This guide will take you on a step-by-step journey that will ensure you know how to use the calendar and use the information it contains to improve your trading activities.
There is a popular belief that focusing on relevant news events is the prerogative of non-technical traders in their trading, and I can safely say that this is not true.
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It is not necessary to pay attention to the news. However, it helps if you know what to expect from the news, especially if the information negatively affects the market. Your open positions may be affected and your pending orders may be subject to volatility.
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The Forex News Calendar will help you make timely and informed decisions. It’s free to use, so stay with me and learn how to benefit from it and reach your trading goals.
Start by visiting the calendar home page. You can see a screenshot below.
There are many activities visible on the page, but you should not miss using the calendar to stay up to date. You will see how simple it is after completing this tutorial.
On the Calendar tab, you have the option to set the time zone. Check the right corner as shown in the image below and click on the Time button.
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Clicking on the Time button will take you to the Time Zone Settings page. You will have the option to synchronize your local time with news events. Make sure you set the correct time zone to ensure you can accurately estimate the exact time for each news event.
Depending on where you live, you can turn DST on or off. Also, remember to choose the format you use, whether it’s 24 hours or morning.
Check everything to confirm that you have the correct settings and click the “Save Settings” button. Your settings will be saved until you clear your browser’s cache. Each time you visit the site, your settings will remain the same.
After completing these steps, the page will show the correct time in the upper right part. If you find that the time is still incorrect, repeat the two-step instructions to confirm that your settings have been saved successfully.
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You’ve made it this far, and now the Forex Factory Calendar page should display news events relevant to your local time. The economic utility of the calendar requires you to filter events and show only those that are relevant to you as a trader. We will achieve this by setting up event filters and showing the currencies and news that are important to you.
You will find it very easy especially if your interests are limited to a specific currency pair and specific news events.
The following screen will allow you to filter events based on various metrics such as currency, event type and expected impact.
: If you want to know more about the “expected effect” options, hover your cursor over the box and you’ll see a brief description of each one. You will have access to low impact news, yellow for medium impact news, orange for filters and if you check the red box you will get high impact news.
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For me, high and medium impact journalism is the focus of events. Within that circle, I can access the news to help me picture what the next few days will look like. The goal is to define custom filters to ensure that available news is relevant and important to your trading goals. You don’t need to keep up with news that is unlikely to have any significant impact on the market.
After you finish selecting filters, click the “Apply Filter” button to display the desired currencies and events. Filter settings can be changed if you find that you are not receiving the news events you want.
Your time zone and filter are set according to your preferences. Now it’s time to the desired time range and this filters the time range that the calendar will display.
On the left side of the page, you will find a navigation panel that offers options to set the desired time.
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You can choose a day, date range, month, or week. Check below to see the pre-set time frames available.
Follow the entire week period to allow you to access information related to your activities in the following days. Anything less than that can give you access to relevant information when the deadline for taking affirmative action has passed.
The information you can access is not limited to the time, effect and name of the event, and you can go beyond it and see additional information by expanding each event.
Attention to detail is essential when using this feature. Every event has many nuances and it can distract you from your main goals. Being a price action trader means paying less attention to the overall meaning of the news and focusing on how it affects or affects the trading charts.
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As in the image above, click on the icon, and you will have access to detailed information about the specific event.
Additional details are important to understanding the context of the news event. You can then assess how the news is likely to affect your FX trading activities. Click the “X” in the image above to close the Additional Details window.
Please note that additional details should be used sparingly. You don’t want the calendar to become a distraction from your core activities. It is a productivity tool designed to help you estimate the expected impact of any event.
Thank you for embarking on this journey with me! If you follow the steps described above, your Forex Factory Calendar is set. You are now ready to gain an edge when trading Forex.
M Price Action System
Indian analyst in the field of trading in forex and binary options markets. Writing about the successes and failures of bankers, investment firms and top entrepreneurs. Stories about investment schemes and market news. Investment class and portfolio management. Graduated from ICFAI University.
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