The most common cause of volatility in the Forex markets are the release of economic indicators by governments and corporations. It's vital that as a trader you are never surprised by these announcements.
A sure fire way to avoid being surprised is to keep an economic calendar. There are two excellent calendars about Forex available and they both happen to be free.
The first one is from briefing.com and it's an extremely thorough calendar.
The best feature of this calendar is that it allows you to see what announcements will be made several weeks from the current date. Also, when you click on the name of one of the announcements, a new window opens, providing you with a wealth of details about that particular announcement. It usually tells you the "Release Details" - the importance of the information as it relates to the Forex market.
The indicators come in the form of the letters A through F. An announcement with an "A" importance tells you that this indicator will have a great effect on the Forex market. Conversely, an announcement with an "F" importance will have a minimal effect on the volatility of the market. Forex Economic Calendar 2010
The second economic calendar that you should be aware of is from dailyfx.com.
The best feature of this calendar is the option to filter out only the indicators that relate to the currencies you care about the most. You'll appreciate the ability to remove information you don't need.
One other feature worth mentioning in the dailyfx.com calendar is the option to click on the name of an economic event. When you do this you can see a definition of the indicator as well as a summary of its relevance to the volatility of Forex markets. As we mentioned earlier, knowing the factors that cause volatility is critical to the success of any trader. Forex Economic Calendar 2010
A sure fire way to avoid being surprised is to keep an economic calendar. There are two excellent calendars about Forex available and they both happen to be free.
The first one is from briefing.com and it's an extremely thorough calendar.
The best feature of this calendar is that it allows you to see what announcements will be made several weeks from the current date. Also, when you click on the name of one of the announcements, a new window opens, providing you with a wealth of details about that particular announcement. It usually tells you the "Release Details" - the importance of the information as it relates to the Forex market.
The indicators come in the form of the letters A through F. An announcement with an "A" importance tells you that this indicator will have a great effect on the Forex market. Conversely, an announcement with an "F" importance will have a minimal effect on the volatility of the market. Forex Economic Calendar 2010
The second economic calendar that you should be aware of is from dailyfx.com.
The best feature of this calendar is the option to filter out only the indicators that relate to the currencies you care about the most. You'll appreciate the ability to remove information you don't need.
One other feature worth mentioning in the dailyfx.com calendar is the option to click on the name of an economic event. When you do this you can see a definition of the indicator as well as a summary of its relevance to the volatility of Forex markets. As we mentioned earlier, knowing the factors that cause volatility is critical to the success of any trader. Forex Economic Calendar 2010
No comments:
Post a Comment