How to use international economic calendar?
Efficiency on the currency exchange directly depends on the ability to analyze. And one of the
main qualities of a trader is analytical mind.
First of all, a trader should understand not only certain processes that occur with a certain
currency instrument, stock or futures, but also be able to track, find and sort huge amounts of
data that are relevant and can affect the movement of quotations.
The economic calendar, in turn, represents a selection of the main news on certain countries,
which concern all sectors of the economy without exception.
Economical calendar is not just a list of news with the date of their release, but a truly
professional tool, without which no professional player on the stock exchange can. So the
question: 'How to use international economic calendar?’ is very popular.
Information that is borne by the economic calendar
The economic calendar for the exchange trade clearly indicates the time and date of publication
of the news, sorts by the force of influence on the market, and also indicates the current, previous
and potential values relative to certain statistics.
In the economic calendar, you can meet a variety of news, ranging from macroeconomics and
key indicators like GDP, various indices and ending with speeches and statements of the heads
of the Central Banks with a clear time of their speech.
All the news in the calendar can be sorted by the degree of influence, by certain countries, which
allows very quickly to plan an action plan in the event of positive or negative data on certain
Almost all beginners avoid the use of fundamental analysis because of its complexity, do not
even imagine that before they go out to each of them in the calendar there is an explanation that
speaks about the importance of news and how the price can behave, if the forecast comes true.
Thus, the economic calendar forex acts as a crib, thanks to which you can always adequately
respond to a particular situation while not being an expert in the field of economics. To see the
meaning of the news you just need to click on its name, and about the strength of the news speak
special notation from three points.
Practical application of the economic calendar
Traders, as a rule, are divided into three categories, namely those who trade news, who take into
account the news only for the sake of stopping the trade in an incomprehensible period for them,
as well as those to whom news are fault.
In practice, the action algorithm is simple and is divided into several stages:
1 stage. The choice of news for the day, which can have an impact on the market.
At this stage, there is a choice of news specifically for the countries of those currency pairs, for
which you will trade. For example, if you trade EUR / USD, then you should be interested in
data on the economy of America and the European Union.
After determining with countries, it is necessary to weed out minor weak news and select
information with two or three marks.
2 stage. Acquaintance with the characteristics of the news.
In order to find out what this or that news means, you need to click on its name, which will
provide clear information and options on how to react to the trader for certain data.
3 stage. Developing a clear algorithm
After you have got acquainted with the news and know its clear time of release it is worth paying
attention to the forecast and the actual value. At the time of the actual value, you should clearly
know how you will act, namely, buy or sell, and not fuss about finding information.