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Step-by-Step Guide on How to Use Forex Factory Calendar?
Forex Factory Calendar is the most researched term on Google as it is an economic calendar that helps keep the track record of Forex-related news events. In this piece of content, we will tell you how to use the Forex Factory Calendar and how news updates are important for traders for trading purposes. Oftenly professional traders make the common mistake in understanding the technical approach of trading, but they don’t update themselves with news events. Follow the step-by- guide process for using the Forex Factory Calendar Step 1 Visit the official website of Forex Factory i.,e., https://www.forexfactory.com/
Click on the ‘Calendar’ section that is visible on the blue line on the top of the website
Once you have clicked on the calendar section, the below-mentioned similar type of screen will be displayed on your computer screen.
Select the time and it will display the time for each news according to the local time.
Once you are satisfied with the settings, click on ‘Save Settings’ so you don’t have to repeat this every time. The time zone settings you have mentioned will remain the same until you don’t change it again.
Step 3 Set the Filter
After selecting the time zone settings, the Forex Factory calendar will display on your screen that represents each news according to standard time (local time).
It is essential to set the event filter in order to identify the new type and currencies to display.
This is convenient for traders if they want to see a determined type of news event or if they are interested only in specific currency pairs.
Click on the ‘Filter’ icon that is available on the upper right side of the page.
Once you have applied the Filter Option, you will see the screen that is mentioned below.
Set the Filter Once you have settled with everything, click on ‘Apply Filter’ that shows news and currencies you have selected. Step 4 Select the time frame on the Calendar
After configuring the time zone settings, it’s time to set the particular time frame and dates by using the calendar which is placed on the left-hand side corner of the page.
The navigation pane of the calendar allows you to set the time frame by selecting the dates.
The screen's navigation pane (mentioned above) allows you to select particular dates. You can also select today, tomorrow, or next month - these options are available in the bottom half of the navigation pane.
Step 5 Dive into deeper details
In this stage, you can expand each event to see detailed information of the event name, expected impact and schedule time.
The screen mentioned below gives additional information on news events.
Once you have clicked on the folder icon, you will get detailed information about events immediately.
Dive into deeper details If you are trading in the Forex, you should update yourself with the Forex Market topics and trending news. Some of them are mentioned below.
Final Gross Domestic Product (GDP)
Market rates of trading instruments announced by Central Banks.
Unemployment rates
Nonfarm Payrolls (NFP)
If any new announcements related to monetary policies
Let's take a quick recall of what we have covered under the Forex Factory Calendar till now
Setting time zone
Filter time zone
Select time frame
Expand details to get to know the additional information of the news
Conclusion
In this article, we tried to provide all information on theForex Factory Calendar, which includes setting the time zone, determining the time frame through the navigation pane and how to expand the additional information of the economic Forex Factory calendar. It is worth noting that the Forex Factory economic calendar is not a tool that helps you deal in the financial market. However, it is a news trade event that helps you make the right decision during trading. Moreover, a calendar is the best way which allows you to keep a record of all the upcoming events relating to the financial market.
The Forex Factory Tools and Calendar is a user-friendly and accurate calendar keeping track of Forex-related news events. Traders can use the tools and calendar of the forex factory to invest in financial markets. Traders can navigate through the Forex Factory tools and calendar. Then they use the screen to get into the activity of the market. Finally, they configure a calendar to get knowledge. By getting the calendar tab, traders can set their time zone. The upper right corner provides the option to change the time. The function synchronizes the time with each new event with the trader's local time. The next thing traders can do is set the event filter. The facility allows traders to filter the events by any expected impact. After that, they select the time frame. Also, traders can dig deeper to make a mark of information. The tools and calendar are a significant facility for traders to keep track and trade in the markets. The Forex Factory is a popular online forex trading platform. The website of Forex Factory is a valuable resource for every trader. Besides, traders can have several tools to earn profit from the market. The calendar is also known as the economic news calendar or economic calendar. Traders can put their schedules of news releases having an impact on the world's social, political, and economic dynamics......Continue Read
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