- What You Measure Grows
- What is Forex factory? How to Use Forex Factory Calendar?
- Business & Finance News - Wall Street Journal
Forex Factory is more than just a place to find new trading strategies. Yes it does, especially for short-term traders. There is plenty of news coming out each day from different countries. Next, check the red and orange box. This means the calendar will only reflect high and medium impacts news event if you want to include the low impact event, feel free to do so. Lastly, you can select which country news you want. This means as a contrarian, you want to go against the herd. It can remain at an irrational level longer than your account can remain solvent.
What You Measure Grows
This is useful for traders who are wondering what time does the London or New York session opens, and whether there are daylight savings or not. With this tool, you never need to second guess yourself again — plus it is synchronized with your local time. You never know if the broker is on the opposite side of your trades, whether they are financially strong, or would simply vanish after taking your money.
Forex Factory can help you filter down a list of brokers that you might consider trading with. They provide a list of brokers you can compare with side by side, so you can identify the ones that meet your needs. Now, there are many things you can compare across brokers. Their real-time spread, markets available, minimum deposit, platforms available, languages, regulatory bodies, headquarters, and etc.
Brokers pay Forex Factory a fee to be listed on this page, so a claim of complete independence cannot be made. If are serious about trading, then you must have a trading journal.
What is Forex factory? How to Use Forex Factory Calendar?
Once you start journaling your trades, it will attract like-minded traders to your thread. From there, you can exchange ideas and feedback to improve your trading together. Have you ever had your computer crash on you? There goes all your precious information that goes along with it. But by having your trading journal hosted on a cloud, that risk is greatly minimized and you can be certain it will be there for years to come.
To see results, you must commit yourself to do it for 6 months. If you follow what I said, your trading results will improve. For example, if the market is in a downtrend on the 1-hour timeframe, it could be an uptrend on the daily timeframe. Is there any way to anticipate the move? If you want to discover more on how to trade during a news release, then check out my training video over here.
Hey Rayner, Thanks for this detailed post on the ins-and-outs of how to use Forex Factory.
Business & Finance News - Wall Street Journal
I totally appreciate what you mean about the beginners cycle, where traders just keep looking out for new trading systems. Specifically, thanks for mentioning the news calendar filter, so that we can focus only on high impact events. Thank you for providing us information on how to go about and use Forex Factory. On my side I appreciate as they are useful and of great help to me. On my side as I am expecting to start trading as a beginner I find my self having a point to start moving. Thanks for opening my eyes to new trading tools using forexfactory.
As this may be truth for most traders but how about top traders? I use it to see which way the wind is blowing. I try not to get involved in the forums too much, its mostly noise and is a huge distraction. I only have an hour or two to manage and look for opportunities in the morning before work, so I have to use my time wisely. Each currency moves differently from the others; some couples respect more technical levels, others less.
Any cross is more volatile; some continue in lasting trends; others consolidate. This information can help us better select which couples we can trade better with our style. We may find that we come in too early and waiting for an extra candle; we may get better results.
We may close positions prematurely, but the diary tells us that prices, on average, reach the target we set ourselves. The next time we see a similar pattern, we will know how to behave. As you can see, it provides a lot of useful information such as the Average Trade and the Average risk-reward ratio. The only thing you will have to do is enter the trades you have executed and the relevant result.
A trading diary will have a straightforward template, and you will not need to enter all the information. It will be handy for those who use fundamental analysis or diversified trading systems. For example, if you are a trader who only uses overbought levels or oversold levels to enter a trade, you will not need to remember your motivations.
If instead, you buy shares based on the fundamental analysis, you will want to remember which analysis led you to open the trade or which economic indicators you analyzed.
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To make a trading diary, we will use Microsoft Word and organize each trade in a single Word page. We will place the Word page thus created and named in a different folder for each month of the year. We are approaching an economic recession.
I found this interesting analysis of Apple on Seeking Alpha. I will close the trade when the RSI indicator returns to overbought. I found this analysis on ZeroHedge and decided not to wait for the RSI indicator but to close within this week. As you can see, it is effortless and does not require a big effort, but imagine after a year how much useful information you could have by looking at your track record.
An Excel Trading Journal requires entering much more data. We will use Excel because it will be necessary to perform some calculations automatically. For example, if I carry out operations on the US market shares using an RSI indicator, I will dedicate a particular trading journal Excel to this strategy.
As you can see, everything is straightforward. All you need to do is enter your initial capital and only some details of the transaction in the excel trading journal. If you always use the same stocks, you can create a drop-down list to speed up the insertion with an automatic selection. In each note, we should add a photo of the chart used with your indicators. We should do the screenshot of the chart at the exact moment we open the trade. For example, if you want to write a post on ForexFactory. Another straightforward method to take a screenshot of a chart is to use a free tool already present in windows.
We are talking about the Snipping Tool. If you want to add effects or shapes or writings to your screenshot, you can use the free software Microsoft Paint. For more professional work, there are paid tools such as SnagIt from the manufacturer of Camtasia that allows you to make cutouts like the snipping tool but has advanced editing functions. The best free and online platform to find charts is TradingView. TradingView is a free site with many useful functions and technical analysis indicators; you can also find trading ideas and sentiment indicators.
To create a Cryptocurrency trading Journal , edit the drop-down list in Excel by entering your favorite Crypto. Again, our advice is to use one sheet for each strategy. This petty trick will allow you to really keep track of the profitability of your trading ideas.
STLs, which is perfect for almost all 3d printing software. A bit of programming later and, voila! In Invention Maker 3D you can design, build, and control 3D inventions, machines, mechanisms, contraptions, vehicles, robots, or anything you want to invent! All parts can be translated, rotated, and re-sized in 3D. Model based on a real paper straw tulip craft. You could read a detailed description of the craft on this link Original craft.
The web site includes an explanation with a Video. Loading Ninja. Create your zone, avoid others players and colors unique 3D shapes! A game about friendly narwhals piercing each other.