Economic Calendar

This little tool is vital for professional traders and amateur ones alike – and throughout this small article we will go over different kinds of calendars, their uses, instructions, descriptions and so on. Tag along to discover more about this little data tool that can make or break a trading strategy.

Checking an Economic Calendar regularly can save you a lot of trouble:

Having a great economic calendar to check every once in a while can save you a lot of trouble because it will let you account for the market’s opening hours, closing hours, transition hours and so on. You’ll be able to trade efficiently and know just when there will be volatility peaks such as those which occur on times where markets overlap each other and so on. An economic calendar has a lot of perks and the expert trader knows just how they can be vital in order for one to really get a grip of everything that happens in the trading world. You have a lot of different calendars to check out, and you should always check the calendar of the markets you work on – so filter the markets, there is no point in trying to build a mega tool with all of the hours if you’re just interested in a handful of them.

A Trading Calendar can predict a lot of volatility for you to consider:

A trading calendar, if you use the right one, also presents a volatility prediction index you can check in order to get prepared and brace yourself accordingly for the levels of volatility anticipated.

Volatility is a variable that you should always take into consideration as it makes the prices fluctuate a lot and trends can invert themselves often, making it harder to anticipate just where is the market heading.

Market corrections will also occur with a lot more frequency, so pay attention and trade in high volatility periods only if you’re a scalper or short term trader looking to scalp a bit of a certain commodity.

Likewise, A Forex Calendar can be useful as well:

If you’re a Forex (FX) trader, then you’ll also benefit from a Forex Calendar since it will tell you everything you have to know about the FX market sessions, the hours, the overlapping periods and more.

There is also another reason on why you should always be on the lookout for this type of calendar – if you are a binary options’ trader looking to trade in currencies and foreign exchange. The Forex market is open for trade all day long, but the sessions do start and end – they just occur in different hours and that’s why the markets are never really closed. Know when the different sessions are in place and ride your way to big profits – again, taking care to avoid the volatility trap or maxing it out if you’re a scalper.

So, as you can see, this is certainly a tool with a lot of different uses, and it is up to you to tailor it to your specific needs, ensuring it can increase your chances of success and help you out on your own road to success.

Whether you’re a stock trader, forex trader or binary options trader – there is a calendar out there for you, you just have to think a little bit in order to detect just what tables deserve your attention and what data can be considered obsolete to your own strategy.