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Should i use economic Calendars
Posted: 14 Nov 2020, 06:56
by Liam
Hi friends i am new in the world of forex world. I recently start my trading with Journal Mutual broker and it have economic calendars. I didn't look at them but should i use it for information ?
Re: Should i use economic Calendars
Posted: 14 Nov 2020, 06:57
by Mason
Of course you have to use it. The forex market influenced by economic so keep your eyes on every news
Re: Should i use economic Calendars
Posted: 14 Nov 2020, 06:59
by Liam
Mason wrote: ↑14 Nov 2020, 06:57
Of course you have to use it. The forex market influenced by economic so keep your eyes on every news
I see i will keep my eyes but can you tell me how it works ?. How do i work with forex by watching the calendar ?
Re: Should i use economic Calendars
Posted: 16 Nov 2020, 07:26
by Mason
Liam wrote: ↑14 Nov 2020, 06:59
Mason wrote: ↑14 Nov 2020, 06:57
Of course you have to use it. The forex market influenced by economic so keep your eyes on every news
I see i will keep my eyes but can you tell me how it works ?. How do i work with forex by watching the calendar ?
If you're assuming that the current data is better than predicted, then that currency will strengthen relative to other currencies. So you buy the currency in the expectation that the currency will strengthen as a result of optimistic economic data.
Re: Should i use economic Calendars
Posted: 16 Nov 2020, 07:27
by Liam
Mason wrote: ↑16 Nov 2020, 07:26
Liam wrote: ↑14 Nov 2020, 06:59
Mason wrote: ↑14 Nov 2020, 06:57
Of course you have to use it. The forex market influenced by economic so keep your eyes on every news
I see i will keep my eyes but can you tell me how it works ?. How do i work with forex by watching the calendar ?
If you're assuming that the current data is better than predicted, then that currency will strengthen relative to other currencies. So you buy the currency in the expectation that the currency will strengthen as a result of optimistic economic data.
I understand, but what if the actual data become worse which we predicted ?
Re: Should i use economic Calendars
Posted: 16 Nov 2020, 07:28
by Mason
Liam wrote: ↑16 Nov 2020, 07:27
Mason wrote: ↑16 Nov 2020, 07:26
Liam wrote: ↑14 Nov 2020, 06:59
I see i will keep my eyes but can you tell me how it works ?. How do i work with forex by watching the calendar ?
If you're assuming that the current data is better than predicted, then that currency will strengthen relative to other currencies. So you buy the currency in the expectation that the currency will strengthen as a result of optimistic economic data.
I understand, but what if the actual data become worse which we predicted ?
The currency to depreciate relative to other currencies. So in this case, you may consider selling.
Re: Should i use economic Calendars
Posted: 16 Nov 2020, 07:33
by James
Mason is right. Its very important to sell or buy and make the transaction in the forex market by watching the news. The market is rapidly change. Some economic news may have a long-term impact on the market.
Re: Should i use economic Calendars
Posted: 16 Nov 2020, 07:35
by William
You can not ignore it. Its necessary for fans of fundamental analysis and the traders who re involved with the market. Its help in order to explain the sharp changes and the fluctuation in market.
Re: Should i use economic Calendars
Posted: 16 Nov 2020, 15:12
by EagleEye
No one can guarantee the markets,but the calendars helps you gauge and predict, it takes a while to get used to and understand the signals.
Re: Should i use economic Calendars
Posted: 16 Sep 2022, 10:37
by Travis
Yes, you can use that and for that you can choose myfxbook or can use TP Global FX broker's calender section as they always update this by analysist.