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How to read forex factory news

How to Use the Forex Factory Calendar in 2022: The Ultimate Guide,Step 2: Configuring Your Time Zone

Interactive Brokers registers 8% M/M rise in Daily Average Revenue Trades in May Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has just published its Forex Factory is entirely focused on curating forex-market information for traders. The nature of this information is primarily real-time (i.e., what's happening right now), and the scope ranges Breaking news is defined as new information that has market-moving potential. All breaking news is rated high (red), medium (orange), or low (yellow) depending on the how much it impacted 02/12/ · Now literally, it means that (if you have set your clock correctly, if not, click on the actual time shown above and you can modify if needed), at 8pm your time there is a ... read more

Forex Factory is the name of a popular forex trading 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. One of these tools is the forex calendar, also known as the economic news calendar or simply the economic calendar.

The forex calendar is simply put, a schedule of news releases impacting the socio-economic and political sphere of several globally important economies. The news releases that can be found on the forex calendar include news about interest rate statements , inflation data , data on housing, employment and trade.

These releases are displayed for various countries at various times and dates displayed on the forex calendar. As far as the forex calendar on Forex Factory goes, traders can get a good number of benefits from using this tool.

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. There are various arrows on the left of the monthly calendar display on the ForexFactory. com calendar. You can use these arrows to make the selections for the dates you would like to see on the forex calendar.

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.

This provides the trader with the option of changing the time listing from the default display of Eastern US time which is 5 hours behind GMT or 4 hours behind GMT when the Daylight Savings Time setting is on between the months of March and October to another time zone.

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. For instance, if the news is to be released out of Australia, then AUD Aussie Dollar is the currency symbol that will be displayed.

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.

Yellow stands for low impact. 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. High impact news are what traders love to trade as they create a lot of market volatility. 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. It will all make sense by the end of the tutorial. To do this, simply click the time in the upper right hand corner. After clicking the time stamp, you will be taken to a page where you can set your time zone.

This will synchronize the time for each news event with your local time. Note: Setting the correct time zone is extremely important.

If not set, it will be difficult to determine the correct time for each news event. At this point you also have the option to turn Daylight Savings Time DST on or off. After saving your settings, you should now see the correct time displayed in the upper right hand corner of the screen. If not, repeat step 2 to make sure your settings were saved properly.

At this point you should have the Forex Factory calendar in front of you with each news event synchronized with your local time. Next we are going to set the event filter to determine the type of news and currencies to display. This is convenient if you only want to display certain types of news events or are only interested in specific currency pairs.

This screen gives you the ability to filter events by expected impact, event type as well as currency. In short, red equals high-impact, orange is medium-impact and yellow represents low-impact news. I personally like to focus on the medium and high-impact news events. This gives me a complete picture of what to expect over the coming days without cluttering the calendar with news that will have little impact on the markets.

You can change this any time by repeating this step. You should now have your time zone set and your filter configured the way you want. This is the span of time that will be shown on the calendar. From this window, you can choose a single day, a week or even the entire month. Also note that you can quickly select predetermined time frames in the bottom half of the navigation pane. Pro Tip: Choosing to see the entire week is often the best approach when trading the higher time frames.

This allows you to prepare for the next few days rather than just the next 24 hours. Be sure to use this feature with caution. It can be far too easy to get caught up in the nuances of each event.

From the screen above, you can see additional details such as the source, frequency and history of the event to name a few. Before we move on, I want to reiterate how important it is to use these additional details sparingly, if at all. The real advantage to using a calendar as a technical trader lies in the scheduled time and expected impact of the news. Anything more than that and using a news calendar can become more of a distraction than an asset.

That concludes the process of setting up the Forex Factory news calendar. Knowing how to set up the Forex Factory calendar is one thing, knowing how to use it properly is quite another. The first thing to understand is that you only want to focus on the market-moving events. This means setting the filter to include only the medium and high-impact news events. Pro Tip: Below is a list of some of the major news events you should keep an eye on as you trade the Forex market.

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 as which events are most likely to cause an increase in volatility. Next we will get into how to strategically position your trades around major news events so as to minimize your risk.

The reason we want to use the Forex Factory calendar is to know when market-moving news is expected and thereby avoid or prepare for periods of high volatility. As such, I want to run through a few basic rules when it comes to trading around the news. All of the scenarios below assume that the news event in question would hypothetically impact your trade. For example, trading USDJPY with Nonfarm Payrolls NFPs on tap.

This is obviously the safest place to be with major news around the corner. You have nothing at risk and you get to objectively analyze the price action that forms as a result of the news. How much time is needed between putting on a new position and a scheduled news event that could adversely affect that position? As a general rule, I like to see at least a 24 hour window in which there is no scheduled major news before putting on a trade.

This of course can change depending on the last two factors listed above. This scenario involves an open position that is in profit, but stands a good chance of turning negative if the news event in question adversely affects the position. Should you close the trade and book a small profit to be safe? But then what if the market moves in favor of your position? If you close it now you risk missing out on potential profits.

Your number one job as a trader is capital preservation. Making money always comes second. I can always get back in later if the market presents a favorable opportunity.

When a high impact news event is around the corner and you have a position that is well into profit, you have more options. One thing that can influence your decision here is how far away your trade is from its profit target. In this case I would be more likely to close the trade before the news event to book profits. Your other options are to take a partial profit and leave the remaining position on or keep the entire position open throughout the event.

Forex Factory is the name of a popular forex trading 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.

One of these tools is the forex calendar, also known as the economic news calendar or simply the economic calendar. The forex calendar is simply put, a schedule of news releases impacting the socio-economic and political sphere of several globally important economies. The news releases that can be found on the forex calendar include news about interest rate statements , inflation data , data on housing, employment and trade. These releases are displayed for various countries at various times and dates displayed on the forex calendar.

As far as the forex calendar on Forex Factory goes, traders can get a good number of benefits from using this tool. 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. There are various arrows on the left of the monthly calendar display on the ForexFactory.

com calendar. You can use these arrows to make the selections for the dates you would like to see on the forex calendar. 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.

This provides the trader with the option of changing the time listing from the default display of Eastern US time which is 5 hours behind GMT or 4 hours behind GMT when the Daylight Savings Time setting is on between the months of March and October to another time zone.

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. For instance, if the news is to be released out of Australia, then AUD Aussie Dollar is the currency symbol that will be displayed.

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. Yellow stands for low impact.

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. High impact news are what traders love to trade as they create a lot of market volatility. 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. Four sets of number columns are seen: the actual shown after the news is released , the consensus forecast and the previous numbers are shown on a constant basis, with a revision to the previous figure if any making up the last numbers column.

The trick is in being able to interpret the deviation; which is the difference between the actual number and the consensus. 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. To detect a tradable deviation, check the difference between the forecast and the previous figures. If the difference between the actual figure and the forecast surpasses the difference between the forecast and the previous numbers, then the deviation is tradable and there will be a market opportunity to trade the news release.

Taking the example of the news releases out of Canada at 8. The actual figure came in at Not only is this a negative for the Canadian Dollar CAD , but the deviation of the actual from the forecast number - 0.

Therefore, we would expect to see a strong movement to the downside for the CAD. 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. Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information. Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies.

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How to Read and Use Forex Factory Calendar,Step 1: Getting Started With the Forex Factory Calendar

02/12/ · Now literally, it means that (if you have set your clock correctly, if not, click on the actual time shown above and you can modify if needed), at 8pm your time there is a Breaking news is defined as new information that has market-moving potential. All breaking news is rated high (red), medium (orange), or low (yellow) depending on the how much it impacted Interactive Brokers registers 8% M/M rise in Daily Average Revenue Trades in May Electronic trading major Interactive Brokers Group, Inc. (NASDAQ:IBKR) has just published its Forex Factory is entirely focused on curating forex-market information for traders. The nature of this information is primarily real-time (i.e., what's happening right now), and the scope ranges ... read more

I personally like to focus on the medium and high-impact news events. Pro Tip: Below is a list of some of the major news events you should keep an eye on as you trade the Forex market. The larger the deviation of the actual number from the forecast, the larger will be the price movement of the currency. Four sets of number columns are seen: the actual shown after the news is released , the consensus forecast and the previous numbers are shown on a constant basis, with a revision to the previous figure if any making up the last numbers column. The trick is in being able to interpret the deviation; which is the difference between the actual number and the consensus. How much time is needed between putting on a new position and a scheduled news event that could adversely affect that position?

Close Privacy Overview This website uses cookies to improve your experience while you navigate through the how to read forex factory news. com calendar. When a high impact news event is around the corner and you have a position that is well into profit, you have more options. So whereas the pin bar forms as news is released, the inside bar often forms the day after a news release. This category only includes cookies that ensures basic functionalities and security features of the website, how to read forex factory news. Pro Tip: Stick to the higher time frames 4 hour and daily in order to get a better feel for the impact of a major news event.

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