Traders depend on calendar in their technical analysis

mumuy

Active Trader
May 3, 2013
193
8
27
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.
 

Enivid

Administrator
Staff member
Nov 30, 2008
16,854
989
144
Odessa
www.earnforex.com
Calendar should be used to prepare for the news releases. Of course, if you need to react to news as fast as possible you would be using some direct data source.

The economic calendars are indispensable tools when you need to plan your trades ahead, look for potential surprises, get statistical information regarding macroeconomic indicators, review past releases, etc.
 

Rambo35

Confirmed PaxForex Representative
Apr 22, 2013
909
24
32
Canada
I used to forget about the release of some economic reports, but since I have set my calendar with reminders about them I did improve my profitability as well. I think it is a great idea to use them.