Forex traders are concerned with the analysis and strategy that they often forget a forex calendar is also necessary to make their profit. If they are only focused on their work, they will not know that some events take place every year at the same time. Knowing these time prior to their happenings can save their money and also their account. This article will tell you how you can boost your profit with the help of one small forex calendar. You do not need to work on anything but it will prove a great support you. By the time you made your forex calendar, you will have known to all the major events of the year that are yet to come. You will know when the trends are most likely to be volatile, when the forex authorities release news that makes the trend volatile and when the favorable news is likely to be released. This calendar is a small weapon that can make you winner against all the odds. This article will tell you how following a calendar can raise your profit beyond your thought.
Fundamental factors of the market
The forex market becomes extremely volatile during the high impact news release. Majority of the professional Aussie traders knows the perfect way to trade the news. Those who are relatively new to the retail trading industry don’t have any clear knowledge about the scheduled news release. Due to this fact, they lose a significant portion of their investment. Learning the fundamental analysis is not all hard but if you focus on the key factors of the market you will be able to become a profitable trader within a very short time. Stop trading the market prior to the release of high impact news release as it will save your investment.
As a new trader, you might find it hard to trade the market by assessing the scheduled news. But when you deal with CFDs you must keep yourself tuned with the latest market news. Subscribe to the popular news site so that you can get a live update of the market. And never focus on the short-term market movement as it will significantly increase your risk factors. Stay safe to make more money in this industry.
Informs all the future events
A forex calendar with properly managed routine can tell you when the events are going to take place. For example, you know every year in the middle, the forex reports are published. It contains a detailed description of all the forex trades and how the traders have performed all the year round. When this event is released, it causes an unrest in the industry and the trends are volatile. If you have forex calendar, it will inform you that the trends will be volatile and you will not trade. If you trade in volatility, you will take proper steps to save your investment from loss.
Informs you about recurring events
This is the biggest advantage of your forex calendar. They not only information about the future events but they can also tell you when the recurring news is about to happen. Every year in Christmas people spent all their money and the market is dry. The market may show some good trend but it will not continue for a long time. A calendar will inform about these recurring events and you will not fall into traps. Many people lose money in these events thinking they have a good chance.
Planning your trade all the year round
A calendar can make you plan your trades all the year round, as you now know when the trend is going to be volatile, you will use such strategy that suits with volatility. You can plan all the trades that you are going to place at different times over the years with the help of a forex calendar.