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  1. #1
    Administrator Martin Kay's Avatar

    Hot The must have Trading Tool – Economic Calendar !!!

    Hi, guys!

    Michael presents his review on the Economic Calendar Tool – a must have tool for every binary options trader. Check it out and find how to use it in your everyday trading!

  2. #2
    M.J
    M.J is offline
    Veteran Member M.J's Avatar
    It is easy to understand economic calenders because we can find many economic calenders which also show importance of a news with an icon or bar or color etc. But prediction based on this tool is not easy. Sometimes market doesnt move as much as we expect it to. Most of the times effect is already ended before the actual data reaches us.
    But binary options traders have an edge over others. Important events have longer impact and thus in some cases binary options traders can enter after the actual data is released based on assumption that "trend will prevail". Even if trend continues for only a few pips (even 1 pip ), binary option trader will get full payout. For this purpose shorter timeframe like 15 minute binary option is a good choice, I think, in order to avoid any quick corrective move.

  3. #3
    Veteran Member Ammeo's Avatar
    Quote Originally Posted by Martin Kay View Post
    Hi, guys!

    Michael presents his review on the Economic Calendar Tool – a must have tool for every binary options trader. Check it out and find how to use it in your everyday trading!
    Lemme have a test of this indicator for a month, i'll come back with the results. Looks promising though

  4. #4
    Legendry Member Michael Hodges's Avatar
    The economic calendar is a great way to time trades, especially longer term trades. It is amazing how often the market will wind up coincidental with some major event.

  5. #5
    Legendry Member milos's Avatar
    The economic calendar well-known as forex calendar or financial news is one of the tools for forex trading and binary options trading.It is included stronger and weaker factors/indicators.There is one rules of mine when I do not trade during the Press Conference or Statements of Central banks like ECB,BOE,BOJ,RBA,FED etc.After 15 minutes when the press conference finished then I start to trade.But first I watch the charts,candlestick,moving average,RSI,and Stochastic.Sometimes I watch charts one hour,sometimes 30 min and later 15 min.Then I write channel trend and wait trading signal....This is for binary options.When I trade with forex with strong factors like GDP,PMI,Unemployment rate,retail sales,CPI,Non Farm payroll etc,interest rate decision I trade immediately...especially when the cuts interest rate...etc..

  6. #6
    Legendry Member willyw's Avatar
    Quote Originally Posted by milos View Post
    The economic calendar well-known as forex calendar or financial news is one of the tools for forex trading and binary options trading.It is included stronger and weaker factors/indicators.There is one rules of mine when I do not trade during the Press Conference or Statements of Central banks like ECB,BOE,BOJ,RBA,FED etc.After 15 minutes when the press conference finished then I start to trade.But first I watch the charts,candlestick,moving average,RSI,and Stochastic.Sometimes I watch charts one hour,sometimes 30 min and later 15 min.Then I write channel trend and wait trading signal....This is for binary options.When I trade with forex with strong factors like GDP,PMI,Unemployment rate,retail sales,CPI,Non Farm payroll etc,interest rate decision I trade immediately...especially when the cuts interest rate...etc..
    Yes, it is best to avoid when press or news release. Anything could happen. It is best when the market cools down then trade. So use chasing after the train

  7. #7
    Legendry Member Okane's Avatar
    Traders, know your fundamentals!

    Some traders use technical analysis, others use fundamentals
    only and some even use both.
    Regardless of which, they all need an economic calendar!
    Why? Because it's important to know which news might affect the asset
    they trade. Should you avoid trading during certain new announcements
    or will you trade the numbers? Whatever your strategy is, you need
    to find out exactly when the news comes out and find out what the effects could be.

    -----------

    Do you know what Previous, Forecast and Actual stand for?
    How about the interpenetration of the impact of a news announcement?
    Not sure yet? In that case, first you need to understand
    How to Trade Using a Binary Options Economic Calendar


    Okay, so you understand that fundamentals are important.
    Great! Now you need a decent calendar.
    Personally I prefer Forexfactory. I can adjust the time and the
    assets I like to view. With the colored "flags" in front of each news release,
    it's easy to see the impact of the news and find out specific details about each event.
    How about you, do you already have a calendar?
    I recommend you read this article if you don't:
    Binary Options Financial Calendars – Finding a Good Calendar
    Last edited by Okane; 05-02-2016 at 02:48 AM.
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  8. #8
    Legendry Member willyw's Avatar
    Yes, it's important that you monitor the news release. For newbies avoid the news.

  9. #9
    Legendry Member Michael Hodges's Avatar
    This is a good week to bring that up. The first of the month brings macro economic data from around the world, in the US this means Non Farms Payroll and Unemployment data, both important to the health of the economy. Also auto sales and many other monthly data releases.

  10. #10
    Senior Member vulgartrendkill's Avatar
    Thanks for this guys, I`ve added an economic calendar to my browser as an add on!!! thanks

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