Wednesday, January 30, 2008

Economic Calendar

Earlier, actually in the last post i wrote about importance of knowing what economic data that affect Forex market will be relased and when. This information alone can save you a lot of pain, because, after some key economic indicators are relased, prices in just few minutes can go +200 pips up, and then out of sudden 300 pips down.

This mainly affects day traders or scalpers, and the EUR\USD currency pair. I belive there are many ways you can deal with market moving indicators, but i will list two of my ideas i have came up with:
  • Few minutes before economic data announcement hedge your position.
  • Not all Forex brokers allows to hedge, if yours not, then you can close your position before data release and open a new one after market will "calm down".
And obviously do not make new trades (other then hedges) before economic data announcement.

More over important economic data dictates trend of the market, so you can use it for simple Forex fundamental analysis.

But the most important question here is, where do i get this data and how will i know which is important and which is not? My all time favourite source for economic data is bloomber economic calendar, which you can find here: ECalendar.

I like this calendar because, it places icon next to particular event, which tells me how important this event is, so i do not have to make my own research on every single event.

From my experience i can tell you that, two events responsible for the biggest moves are: Employment situation and FOMC meeting.


geo said...

Please can your give me more details on hedging and how to profit on it at when you gain somewger you lose at the other place. Iam also very interestde in your article on currency correlations but as I am new I need more details

Grzesiek said...

Hi Geo,
i currently moving my blog to new location so i do not have a lot of time to write, however when i am done with that (i think it will be this or next weej), then i will write some detailed articles about topics you are interested in.
Visit this blog i will post new address here.

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Teena robert said...

Very nice economic calender. this is true that more over important economic data generally dictates market trend, This data can be used in fundamental Analysis. This is really very important for Forex trading. This data will also help the person who is Learning Forex.

Adam said...

Wow great article, It was useful for my team. I'll be backs to read it again! Thank you for sharing all these ideas with us and and keep up the good work.

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priceaction said...
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priceaction said...
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Marwa Mohamed said...
technical analysis of currency
US Stock Market
Wall Street finished Thursday’s trading in the green following Wednesday’s Christmas break. With both the S&P 500 and the Dow Jones already trading at all-time-highs, a better than expected Unemployment Claims report in the US pushed US Indices even higher. The S&P 500 gained by 0.47%, the NASDAQ rose by 0.33%, and the Dow Jones added 0.75% to its value. Technically, and according to the 4-hour chart, the S&P 500 index is still trading in a strong bullish momentum. The all-important support level is at 1,826. Trading above this level may push the index higher towards 1,850 areas. The MACD indicator is above the “0” level, which also supports the bullish trend.

Marwa Mohamed said...
تحليلات السوق

التحليل الفني للعملات ليوم 4-04-2014 من StmFx
اسعار العملات اليورو مقابل الدولار الامريكي ليوم 4-04-2014
اسعار العملات EUR USD
انخفض سعر صرف اليورو مقابل الدولار الامريكي مع بداية تداولات اليوم الجمعة بعد أن أغلق تداولاته يوم أمس الخميس هبوطاً ،وذلك كما هو موضح بالرسم البيانى أدناه لإطار اربع ساعات.
، هذا و تتجه توقعاتنا الى ان يتحرك السعر اليوم فى اتجاه هابط ليواصل السعر التحرك بداخل القناة السعرية الهابطة. هذا ويدعم احتمالات الهبوط كلا من مؤشر MACD ومؤشر ADX ، والتقاطع السلبي على مؤشر الاستوكاستيك فضلاً عن التداول الحالى أدنى Moving Average على نحو يعزز من احتمالات للهبوط. بينما يعطى مؤشر RSI احتمالات للصعود بالوصول إلى مناطق تشبع بيعي.
، وبناء على توقعاتنا فإن تمكن السعر من كسر مستوى الدعم عند 1.3697 فان ذلك يهبط به نحو مستويات 1.3785 و 1.3642 على التوالي. بينما كسر السعر لمستوى المقاومة عند 1.3748 يدعمه للوصول الى مستوى المقاومة التالي عند 1.3762 ومن ثم مستوى 1.3775 وفقا لمستويات فيبوناتشي 50.0% و 38.2% على الترتيب.

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Digital Equity said...

Economic calendar is an important component for trading and without watching the economic calendar everyday we cannot proceed towards our trading success as due to some high economic event the market can be very volatile and which can lead to massive losses and frequent SL hit. As of the high impact volatility brokers also take the advantage of the traders and provide delays and slippages to capture the capital of the traders. In this scenario, i feel pretty great being with as the execution during high impact volatility remains same as non volatile times and without any delay all orders are executed. The spreads are also low and moreover the withdrawals are quite instant. I highly recommend this broker for all news time traders and high volatility based traders.

Md Torikul said...

Economic calender keeps a great importance for a trader. A trader can know a signal through it. There are some sites where they give wrong times of news but in my broker's site they provide accurate time of news. Trade12 is an excellent broker in every sites.

Rahim Sterling said...

ECNCAPITAL provides recent market news, fundamental & technical analysis, economic calendar. Economic calendar is very important for traders, because from this calendar a trader can know about signals. It is very important component of forex trading. I am trading with ECNCAPITAL and getting useful services for my trade along with economic calendar. I can rate this broker 5 star for their dedication towards their clients.

Md Torikul said...

Forex market is an economic business. Here international news has a great impact. So the economic calendar should be fluent. Trade12 provide such an economic calendar where there is no wrong time that’s why I can find the exact time from this calendar. They also provide signals on different pairs on daily basis.

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You don't neeed any economic calendar to make profit. Yes you read it right. I trade and make profit every day and you know what makes profit? Option trading. Trade options and make sure you trade with the best company like I trade with lxmarkets. They are one of the best I have traded till now. Highly recommend.

Md Torikul said...

Economic calendar provides the new time as well as impact of the news. There are some calendars which provide wrong time table with wrong impact. This is really awkward because new trading is really important to every scalper. As a scalper I feel it well. Trade12 having the best economic calendar which provides the most accurate news time and impact too. They use to provide strong news signals too and most of the time their signal works better.

Digital Equity said...

Economic Calendar is very important tool for a trader to know about the upcoming and current events in the market. Events make the market fluctuate and spike in the current market situation. So, it is very important to understand the importance of economic calendar in forex world. I am a trader and i know how well economic calendar serves the traders. I am a news trader i need no slippage based and low spread based trading broker and AAFX is such kind of broker and i m really blessed to find such broker.

Md Torikul said...

An economic calendar is used by investors to monitor market- moving events such as economic indicators monetary policy decisions. Market moving events which are typically announced or released in a report, have a high probability of impacting the financial markets. Forex economic calendar provides new times and many things relating this. I am a trader of Trade12 offers the best economic calendar.

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FXB Trading offers an economic calendar that helps traders in the understanding and in observing various economic events that are taking place across the world. As a result, traders can determine easily the impact that these occurrences may have on the trends in the trading market.

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