Hi every one, just want to ask your opinion why the most traders depend on calendar in their technical analysis, although there are many other resources like e.g. T.V or website (BBC - CCN - Reuters). Why most traders put in a bottle tight when deal with News analysis?
In my opinion, calendar is important to the forex traders because it gives you a list of the important economic events that can affect the currency pairs that are traded in the forex market. It also gives you the outcome (actual figures) of the news event. What is most important however is how you interpret, react to and trade these news releases. The calendar is a website that displays news events and their outcome.
The calendar will not display the outcome of the news event as it happens but may be a few seconds late. This means that you might miss out on the initial move. In the light of the above, I believe that the calendar is not the most important to trade news. Instead listen to the news through Bloomberg live radio service or watch it live on BBC or any other financial news cable service. This should be most important in TRADING the news.
In my opinion, calendar is important to the forex traders because it gives you a list of the important economic events that can affect the currency pairs that are traded in the forex market. It also gives you the outcome (actual figures) of the news event. What is most important however is how you interpret, react to and trade these news releases. The calendar is a website that displays news events and their outcome.
The calendar will not display the outcome of the news event as it happens but may be a few seconds late. This means that you might miss out on the initial move. In the light of the above, I believe that the calendar is not the most important to trade news. Instead listen to the news through Bloomberg live radio service or watch it live on BBC or any other financial news cable service. This should be most important in TRADING the news.