Forex Factory is a free, mission-driven resource for traders. It offers a comprehensive economic calendar with global data to forecast market movements. Furthermore, forums offer collaboration and allow newcomers to learn from veterans and experts. Look into the Best info about forex robot.
News events can dramatically affect the price of currency pairs, so forex traders need to stay aware of them to make informed trading decisions.
Features
Forex Factory provides traders with several invaluable trading tools, including an economic calendar that highlights critical fundamental news events. This tool can help short-term traders avoid entering trades during a major news event that could widen spreads and negatively affect trade results. Furthermore, this calendar allows traders to customize news updates according to their time zones and preferences.
Forex Factory’s Calendar provides a real-time economic news and events tracking tool that displays market-moving data releases in terms of priority and time. Each event comes complete with a brief description, currency pairs it could potentially affect, previous and forecasted data results, and color indications to show whether an expected outcome would be beneficial or harmful to respective currency pairs.
One of the Forex Factory calendar’s key advantages lies in its ability to sync with your local time zone easily and take only a few clicks to set up. This feature makes life much simpler for traders who find themselves constantly moving between time zones, making local news and events accessible wherever they may be found. Furthermore, settings can even be altered to account for daylight saving time, and you can choose whether the display time follows either the am/pm or 24-hour “military” formats.
Impact system
Forex Factory is a renowned website offering traders invaluable resources. Its comprehensive economic calendar gives traders worldwide data about financial events that could alter market prices, enabling them to make informed trading decisions and maximize profits. Furthermore, this platform also features forums where traders can discuss recent news and events with one another.
The website features an impact system that rates each event according to its potential influence on currency prices. High-impact events are marked in red, while medium-impact ones are highlighted with orange highlights; low-impact ones have minimal effect and are displayed in yellow for easy identification. This feature can help you prioritize which events should receive your focus while others should be neglected.
Forex Factory also features an impact system and filter for displaying events specific to the currency pair of your choice. This helps you focus on only the most significant events while saving time and effort. Furthermore, Forex Factory notifies users when important events occur, another useful feature.
Traders must remember that there may be a delay between events being released and their effect on the market. Although a Bloomberg terminal would provide faster results, most retail traders cannot afford such access.
Customization options
As part of your forex trading strategy, you must know which events will affect currency prices. One helpful tool for traders is an economic calendar, which lists upcoming economic news releases that could influence market volatility—this includes central bank policy announcements, which should not be missed! Keeping an eye on such events is necessary if you wish to succeed with trading forex; the forex factory economic calendar offers several customizable features to accommodate this goal.
The first step in customizing the Forex Factory economic calendar is setting your preferred time zone. This will align all events to local time, which can be particularly helpful for traders trading multiple time zones simultaneously. You may also choose whether am/pm or 24-hour military time is displayed for timestamping purposes.
Filter by event type for even further customization of the economic calendar, displaying only high-impact news events, for instance. Furthermore, select which currencies you would like to follow, and the economic calendar will show you a list of news releases for that currency along with their title, significance level, previous values, and forecasted values.
Additionally, Forex Factory also provides traders with a live news feed called Newsquawk, which provides real-time news updates and analysis through an audio feed. This service proves invaluable in aiding trading activities.
Cost
Forex Factory is a well-recognized trading community online that offers traders up-to-date news and market analysis, along with an economic calendar to keep abreast of key events and announcements that may impact trading decisions. Forex Factory’s features also allow traders to stay informed by monitoring significant market announcements, making informed trading decisions possible for traders of all skill levels.
Forex Factory’s offerings extend far beyond an economic calendar, such as trader rankings and real-time feeds showing member trades; additionally, there is an aggregated position analyzer and aggregated position scorecards available that can improve traders’ performance and enhance their chances of success – plus they are all free!
The Economic Calendar displays all upcoming and scheduled economic data that could affect the market, including major events like interest rate decisions and employment reports, as well as political announcements that might influence currency prices. A color-coding system indicates the impact of each event: red indicates high impact, orange represents medium impact, and yellow represents low impact.
Economic calendars are essential tools for traders, yet it can be challenging to keep track of all the data released every day. With Forex Factory Calendar, it becomes much more straightforward to stay abreast of market news and trends; moreover, its customization features allow traders to tailor it specifically to their requirements.
