Economic Calendar and Forex Factory
Seventeenth session of Forex Training
Welcome back to Forex professional training in financial markets.
In this session we will talk about economic calendar and Forex factory, website references, news websites, analysis websites, educational websites and forums.
We have a variety of websites that offer different information, such as:
News websites – These websites provide the latest news. These news influences financial markets directly or indirectly with long or short term effects on the markets.
These websites grant analysis on news by financial experts that can be significantly helpful.
Analysis website – These websites offer technical analysis, fundamental analysis or both of them in different methods.
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Educational websites – These websites usually have Forex schools that include educational materials and courses with different levels beneficial for any trader.
Forums – These websites are very popular. One or more topics are presented on these websites and people can leave comments about them.
They give their opinions and experiences and try to make the topic as easy to understand as possible.
Economic calendar – This deals with times and dates that include different information such as:
news titles, to which country it is related, time of its release, importance of the news, value and grade of the news, market prediction after it is announced, what its direction is (upwards or downwards), update in news, announcement time or any other additional news.
Forex Factory
Forex factory is the biggest source available for traders and clients. It also has the biggest forum and economic calendar for traders.
Reliable websites
There is a number of reliable websites which a client can gather information and news from, such as Bloomberg.com, Reuters.com, Cnn.com, Euronews.net and Cnbc.com.
Also there are websites which offer services on financial markets and Forex in particular such as:
- com which has an economic calendar and many other different interesting sections
- com which has very interesting educational packages
- com which offers all information on brokers and how reliable they can be. Traders can also leave comments on this website, so other traders can make a good decisions when it comes to choosing a broker.
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Website View
Now, this is Forexfactory.com. As you can see it contains different sections such as home, forum, news, calendar, market and brokers.
Also, as you can see, all news about trades, interactive trading forums and the latest comments are available here, as well as hot and major news.
There is also a section for forums, info about long (buy) and the short (sell) percentage in the market, information about different symbols, which markets are up and running and traders’ statistics.
Remember, whatever you see here is live and up to date.
Now, this section is forum that contains the latest news and topics.
It is possible to see the time that news was listed with comments and opinions about it.
Trades
The next section is about trades plus the amount of transactions of different currencies.
This is for people with real accounts, sorted based on their profit, such as PAMM and MAM.
Next section shows the percentage of bought or sold open orders on certain symbols.
The next section is a calendar that is very important. You see a week period, dates and times here.
The day of the news is shown here, time of announcement is shown here, currency shows which counties this news has influenced.
It also shows the currency and its impact, i.e. red colour represents high impact, orange represents normal impact, and yellow represents low impact.
Headline of the news is displayed in the next column, in details pop up page.
Source of the news is mentioned here, for example Ministry of Finance of Japan released this news.
Measures filed represents the comparison between export and import, showing news’ effect on the economy.
Usual effect illustrates that if an actual price is higher than the predicted price, then currency would become more powerful.
The next field mentions the next periodical release time. Next field shows the exact time of next announcement.
A short description about the news by Forex Factory is written here.
The reason of news importance is mentioned here. News title is mentioned here.
Other details of this news is shown here. Some news may have more impact on the market from prediction that can be seen here.
If the actual impact was better than forecast, then the color would be green, while red color shows more deteriorating impact.
The yellow pointer shows that the news or the announced statistics are updated and you should consider their update.
For example, here it was 1.0% while by new update it becomes 1.2%, this has a considerable impact on the market.
Thus, positive impacts are shown with a green color, while red color displays deteriorating influence.
In this section you can see all dates in a month and as you can see the green part represents the current week.
It is possible to browse the calendar in a weekly view, check previous or following weeks; the calendar can also be changed to a month or a year view.
The next part is about news all around the world. As you can see, there are news with the release time and the source.
If you look at this section here, you can see banks’ interest rates.
News
As we mentioned before there are other websites which offer news updates as well.
Bloomberg, Euro news, CNN and CNBC offers very important and valuable analysis.
This is Fxstreet, which offers an economic calendar like Forex factory and it also has other sections that may be convenient for traders.
This website usually offers more news than the Forex factory.
This is BabyPips.com, it is a very useful and has educational programs and material.
If you enter the school section, you can see different sections and levels such as kindergarten, freshman year and so on, as well as different topics here, such as oscillators and pivot.
This website is Forex peace army which is a very famous website amongst traders and offers any information about brokers.
It contains useful information about expert systems that have been tested. Of course, there are other websites available but we have shown you the most famous and reliable ones.
That concludes this session, until next time and another session take care.