Key Tips to Use Forex Calendar by Admiral Markets

I personally think that economic calendar is useful for all kinds of traders, not only those who use fundamental trading. On one hand, news traders will rely on economic calendars to build their portfolio. They would open positions in anticipation of high-impact announcements and take advantage of the trend change.

Meanwhile, swing trader who uses technical analysis will more likely use the calendar to manage their risk exposure. By keeping track of upcoming news releases, traders can avoid losses and exit their positions before the impact hits the market. Lastly, scalpers can use the news releases as a signal for potential volatility.

Regardless of your trading style, you can make use of economic calendars. The most important thing is to know how to incorporate the data into your strategy and how to make the best of it.

Yes, economic calendar can be useful for everybody, but we also can't deny that it is more useful for fundamental traders. If you don't want to use charts and find supports and resistance on the charts with technical analysis, you can use economic calendar to determine your position. One of my trader friends actually never look at the charts when trading. He solely relies on the basis of economic indicators (from the calendar) and anticipates big market movements from news releases.

Don't worry, I was just like you when I first started trading. I was unaware that economic releases could impact the market that much, so I just carried on with my technical trading and ended up losing more than half of my initial capital.

If you want to start using economic calendars, I suggest you start by focusing on two or three currency pairs and monitor their reactions to certain macro releases and news events. Combine event forecasts and previous statistics to help you find the right time to enter the market. By doing this, you can then predict how it will likely to react to future news announcements. But even so, the market may still not react the way you expect it to, so don't forget to manage your risks accordingly. Good luck!

@Jerry: In my opinion, the Forex economic calendar is like a trader's secret weapon. It's a powerful tool that provides valuable insights into upcoming news and data releases that can have a profound impact on the financial markets. By keeping an eye on the economic calendar, traders can stay informed and make more informed trading decisions.

When it comes to commodity trading, the economic calendar plays a vital role as well. Commodity prices are influenced by a multitude of factors, including supply and demand dynamics, geopolitical events, and economic indicators. The economic calendar helps traders anticipate and react to these factors, enabling them to capitalize on potential price movements.

Additionally, central bank decisions and monetary policy announcements can significantly impact commodity markets. Changes in interest rates or shifts in monetary policy can influence currency exchange rates, which in turn affect commodity prices since commodities are often traded in U.S. dollars. Traders closely monitor central bank meetings and statements to gauge the potential impact on commodity markets.

@Case: When it comes to trading around economic news releases, timing is crucial, mate! Those colored indicators on the economic calendar can give you a heads-up about the potential impact of upcoming events on the Forex market. Now, let's talk strategy.

Entering the market before or after the news release can both have their pros and cons, so it's important to consider a few things. When you enter before the news release, also known as trading the news, you're aiming to catch the initial price reaction and ride the volatility wave. It can be exciting, but it comes with risks, mate. The market can be unpredictable, and if the news surprises in a different direction, it could go against you faster than a kangaroo on a trampoline.

On the other hand, waiting for the news release to pass and then entering the market, often called trading the aftermath, can provide a bit more stability. By letting the initial volatility settle, you can get a clearer picture of the market direction and avoid knee-jerk reactions. However, keep in mind that by waiting, you might miss out on some of the initial big moves.

Ultimately, the choice depends on your trading style and risk appetite, mate. If you're a quick thinker and can handle the adrenaline rush, trading the news might be your cup of tea. But if you prefer a more measured approach and want to avoid potential whiplash, trading the aftermath could be your go-to move.

@Justin: Brokers may have their reasons for not including an economic calendar in their trading tools. Some prefer to prioritize simplicity and a clean user interface, aiming for a straightforward platform design. They want to avoid adding complexity and clutter that could go against their design philosophy.

That said, an economic calendar plays a vital role in helping traders make well-informed trading decisions. Economic events, like central bank announcements, employment reports, or GDP releases, can significantly impact the financial markets. Having access to an economic calendar allows traders to stay updated on upcoming events that might influence the instruments they trade. With this knowledge, they can make necessary adjustments to their trading strategies or positions, potentially minimizing risks and maximizing profit opportunities.

As for the accuracy and reliability of the events listed in a broker-provided economic calendar, reputable brokers like Admiral Markets are expected to strive for accuracy and provide up-to-date information. However, it's always a good practice for traders to cross-reference information from multiple sources to ensure accuracy and stay well-informed. By consulting various sources, traders can validate the information and gain a comprehensive view of the economic landscape.

@Dos Santos: Well, in my opinion, while technical analysis is super useful for predicting price movements based on historical data and patterns, fundamental analysis plays a crucial role too. Economic indicators and news can have a major impact on the markets, causing unexpected shifts and volatility. Ignoring them completely might leave traders exposed to unnecessary risks.

Traders who primarily rely on technical analysis should be aware of major economic events and news releases. They can either adjust their trading strategies accordingly, temporarily step out of the market during such events, or use risk management tools like setting stop-loss orders to protect their positions. By staying informed and being flexible, they can better navigate potential market surprises.

So, my advice would be to never underestimate the importance of keeping an eye on economic indicators and news releases, even if technical analysis is your primary focus. It's all about managing risks and staying ahead of the game, dude!

@Verra: Hey there! I won't dwell on your EUR/USD trading question because there's a wealth of information on that pair, along with trading tips and tricks available everywhere, even on this website! Just use the search box to find what you need. But let's talk about what timing and location aspects traders need to consider. When you're into forex trading, it's vital to focus on when economic events occur. Check forex calendars to match event timings with your local time zone. If you're dealing with EUR/USD, keep tabs on both European and US economic calendars. Prioritize events with a significant impact rating, as they can really stir the pot. Also, remember, it's not just the event timing but how it could influence your trades. Pay attention to market sentiment and always have a robust risk management plan in your back pocket to play it safe.

Hello! So, you're wondering which of the US indicators mentioned - Unemployment claims, the unemployment rate, and the Non-Farm Payroll (NFP) - have the most impact on the forex market, right? Well, let me break it down for you.

Out of the bunch, the Non-Farm Payroll (NFP) report is usually the big one that can really shake things up in the forex world. It's like the granddaddy of economic indicators, giving insights into the health of the US job market. Traders tend to pay extra close attention to this bad boy because it can cause some serious movement in currency pairs.

So, if you're looking to gauge the potential influence of news releases on your trades, keep a keen eye on that NFP report. It's the one that often steals the spotlight and gets traders talking. (also read : The Key to Approach Fundamental Analysis )

Alright, so let's break it down. Say you're trading in the forex market, and suddenly, out of the blue, some big news hits. Maybe a country announces unexpected interest rate changes, or there's some political turmoil causing chaos in the markets. These kinds of surprises can send prices on a rollercoaster ride, and if you're not ready for it, you could end up taking a hit.

First off, you've got volatility spikes. That's when prices go crazy after news breaks. It's like trying to ride a bull in a rodeo – if you're not holding on tight, you're gonna get thrown off, and your trades could go belly up real quick.

Then there's slippage. Picture this: you hit the 'buy' button expecting one price, but by the time your trade gets executed, the price has shot up, and you're paying way more than you bargained for. It's like trying to catch a falling knife – you might end up getting cut.

And let's not forget about liquidity issues. When things get wild, everybody starts panicking and there's nobody around to take the other side of your trade. So, you're stuck with wide spreads and sky-high transaction costs, eating into your profits faster than you can say 'stop-loss'.

Speaking of which, stop-loss orders can be a lifesaver, but they're not foolproof. Sometimes, the market moves so fast that your stop-loss doesn't trigger at the right price, leaving you high and dry with bigger losses than you planned for.

Oh, and don't even get me started on overleveraging. It's like playing with fire – sure, you might make some quick cash, but one wrong move and you're toast.

So, yeah, when it comes to trading in unpredictable markets, you gotta be ready for anything. SO it is very important to know about Forex Market events and you can check it on Forex Calender!