Some Forex traders need to Forex calendar to move their stop loss closer to lock in a lot more profits when they know that a major news is about to be released because they know, the market can go either way, up or down and this can work against their current running trade and eat up whatever profits that they have accumulated so far.Only after the news is released and the market settles down then they start looking for trading setups to trade. Some traders are not Forex news traders and they need the Forex calendar for a different reason: to avoid trading during news release times and dates because the price move during news times is so volatile that they just don’t want to be in a trade when the news is about to be released.Forex news traders need to know know what kind of fundamental news is coming out that has a great chance of impacting the Forex market and they want to capitalize (make profit) on the resultant market move that happens when the news is released.These are the 4 main reasons why Forex traders need economic calendars to help with their trading strategy: Why Forex Traders Need Economic Calendars
#Fxfactory economic calendar update#
The update is quick when important news events are released.The layout is easy to understand FX news calendar and is easy to find major news event release dates.If you are a Forex trader that would like to trade Forex currency news, there’s one thing you can’t miss: the Forex Factory economic calendar.įorex Factory has one of the best economic calendars and here’s why:
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