You shouldn’t share your entire life story, but talking about your goals and struggles as a trader immediately makes you more relatable. This new thread will be your public trading journal where you can publish your trades plus your thoughts on them. Other FF members are able to write comments and give you suggestions. Believe it or dotbig testimonials not, you can use Forex Factory to get personalized advice from professional traders for free. A list of your open trades, closed trades, and pending orders. If you would rather have metrics that reflect closed trades, select “Balance” at the top right corner. By default, the reported figures are calculated using the account equity.
- The forecast column shows you what economists were forecasting BEFORE the news was to be released.
- Next we will get into how to strategically position your trades around major news events so as to minimize your risk.
- While it isn’t necessary to study the news, it is advantageous to know when news is expected.
- Besides, you can also click on the folder icon to see more specific information regarding each news.
Popular FX forum and financial news website Forex Factory has introduced a new alerting system that aims to better connect traders to the markets, and to each other. As you can see, it’s designed to provide you with a quick overview of currency pairs. You can add as many scanners as you want, and you can display various aspects depending on your needs. In addition to all this, there will be corrections in every trend. You may notice a shift in the sentiment indicator, but as long as the majority of factors are pointing in the trend direction, you have nothing to worry about.
How To Use The Forex Factory Calendar In 2022: The Ultimate Guide
This of course can change depending on the last two factors listed above. The best Forex fundamental https://twitter.com/forexcom?lang=en analysis is the result of adjusting your positions to the central banks’ monetary policy.
Press representatives from around the world ask questions. https://www.mentorhub.info/ Effectively, it trips stops both for longs and for shorts.
Recent News & Activity
By now you should have the time zone, filter and time frame set for your calendar. You should know how to view additional details of a news event as well Forex news as which events are most likely to cause an increase in volatility. A double no-touch option is the exact opposite of a double one-touch option.
Instead of following a technical trend, traders follow a fundamental one after they learn Forex fundamental analysis. The next ECB meeting was after two weeks and traders sold the Euro on rate cut speculations.