Forex Factory
For forex traders, the term forex factory is certainly familiar, namely a leading forex portal website among traders in online forex trading activities, with the website address: www.forexfactory.com . If some traders only use the fundamental news features, some other traders use other additional features to obtain important information about forex trading. What are these interesting features?
Forex Factory and its features
The economic calendar feature is the most widely used on this forex portal website because it is easy to use. Traders can view the schedule for airing the following economic news with explanations and predictions made by the website team concerned. In the online economic calendar feature, traders can do various things such as, set the displayed currency, set the type of news in the form of economic speech, inflation or central bank, and set the type of high impact or medium news. All that convenience you can do by changing the settings column in the upper right corner of the image.
Display features contained in this economic calendar are:
This feature helps you know which time and money market sessions are open and active. Market sessions will help you determine the types of strategies that you want to apply to your trading activities. By opening the website idforextrading.com you will be able to find hours and money market sessions.
Market
On the market page, you can get general information about financial markets. Information displayed on the market features is the news release layout on charts, charts, and so on. The page on this website was developed directly by a team of forex factory experts.
If you are looking for an outside investor, this feature is suitable for you because your account information can be seen by active traders all over the world. This feature can connect your trading account so that it shows statistical information. This display is a simple version of the myfxbook.com service or other forex websites.
The good news, this forex factory calendar can be utilized free of charge by traders, but remember to still use regular financial management even though you have used the forecast from the economic calendar. One factor that can lead traders to the success of their transactions is the ability to predict market movements, although it is rather difficult to understand the data presented by the forex site, forex factory. There are special techniques that must be mastered so that these data can facilitate you in entering the market, waiting, or leaving the market.
There are several aspects that can help you in reading the direction and objectives of the market related to news in the fundamental calendar.
1. Currency information to be released
On the forex site calendar you will be able to find out which currency pairs the news will be loaded. Pay attention to the column of currency pairs that will show news because not all currency pairs will be published that day. This information will help you to decide whether today you will trade a currency that contains the curency using its volatility. You can also choose other currency pairs so that your technical analysis can run normally by avoiding transactions on pairs that contain currency.
2. Impact
Impact or impact on the forex factory calendar can be described by colored symbols. The white color means there is no effect caused by the bank being on holiday. Yellow means the effect on the market can be said to be small. The orange symbol indicates that the impact on the middle market is around 25 to 60 pips. The red color in this feature means that the news will have a big influence on the market and can even have an impact on prices of more than 160 pips. In general, traders are more often alert to the red impact symbol.
3. Time of news
You can find out the time of news release by looking at the clock column on the right. To convert it into Indonesian time you can click on the current hour then set the time zone to the time according to the market on your metatrader trading platform.
4. Value of the previous news release
You will be able to find the previous column on the forex factory calendar in the right column, the last month's value released from a type of news. This value can be used as a benchmark and comparison with the latest published news values.
5. Value forecast
Estimated value or also called forecast value is data that is predicted by competent sources before the official value is published. These sources are banks and economic observers. This approximate value of some traders is sufficient to inform the direction of market movements, and if they have good prospects, they will not hesitate to trade.
6. Actual value
What is meant by the actual value awaited on the forex factory website is the release number from the official agency. But only in a state of numbers that are far from estimates can have a big impact on moving the market.
As has been said before, understanding this forex website is not an easy matter. But this is not the only way to win your transaction. As a trader you can choose to learn how to get information from the forex factory to make a profit or as additional knowledge only because you are more suitable to use forex technical analysis. Good luck and good luck!
Forex Factory and its features
- Economic calendar
The economic calendar feature is the most widely used on this forex portal website because it is easy to use. Traders can view the schedule for airing the following economic news with explanations and predictions made by the website team concerned. In the online economic calendar feature, traders can do various things such as, set the displayed currency, set the type of news in the form of economic speech, inflation or central bank, and set the type of high impact or medium news. All that convenience you can do by changing the settings column in the upper right corner of the image.
Display features contained in this economic calendar are:
- Information when a news is published (date and time of news)
- The type of news whether in the form of high impact or medium impact. The type of high impact news is news that has a large impact on price movements on the money market, such as news about the increase in payroll in countries whose currencies have an influence on the money market, such as the United States, while news on medium impact does not have too much effect on foreign exchange market conditions. .
- For details, you can access it by clicking on the detail column of the related news. That way you will get information about how to read news, news sources, the impact of the economic news, and others. Traders should access this column to learn many things related to forex factory.
- The forecast column is the prediction of the value of the news to be released with the previous column showing the prediction of the value of the news that was broadcast before, while the actual column shows the value of the latest news.
- Graph is a section on a website that shows a graphic of news that can be additional information for your forex transactions on the market.
- Market session
This feature helps you know which time and money market sessions are open and active. Market sessions will help you determine the types of strategies that you want to apply to your trading activities. By opening the website idforextrading.com you will be able to find hours and money market sessions.
Market
On the market page, you can get general information about financial markets. Information displayed on the market features is the news release layout on charts, charts, and so on. The page on this website was developed directly by a team of forex factory experts.
- Trade explorer
If you are looking for an outside investor, this feature is suitable for you because your account information can be seen by active traders all over the world. This feature can connect your trading account so that it shows statistical information. This display is a simple version of the myfxbook.com service or other forex websites.
The good news, this forex factory calendar can be utilized free of charge by traders, but remember to still use regular financial management even though you have used the forecast from the economic calendar. One factor that can lead traders to the success of their transactions is the ability to predict market movements, although it is rather difficult to understand the data presented by the forex site, forex factory. There are special techniques that must be mastered so that these data can facilitate you in entering the market, waiting, or leaving the market.
There are several aspects that can help you in reading the direction and objectives of the market related to news in the fundamental calendar.
1. Currency information to be released
On the forex site calendar you will be able to find out which currency pairs the news will be loaded. Pay attention to the column of currency pairs that will show news because not all currency pairs will be published that day. This information will help you to decide whether today you will trade a currency that contains the curency using its volatility. You can also choose other currency pairs so that your technical analysis can run normally by avoiding transactions on pairs that contain currency.
2. Impact
Impact or impact on the forex factory calendar can be described by colored symbols. The white color means there is no effect caused by the bank being on holiday. Yellow means the effect on the market can be said to be small. The orange symbol indicates that the impact on the middle market is around 25 to 60 pips. The red color in this feature means that the news will have a big influence on the market and can even have an impact on prices of more than 160 pips. In general, traders are more often alert to the red impact symbol.
3. Time of news
You can find out the time of news release by looking at the clock column on the right. To convert it into Indonesian time you can click on the current hour then set the time zone to the time according to the market on your metatrader trading platform.
4. Value of the previous news release
You will be able to find the previous column on the forex factory calendar in the right column, the last month's value released from a type of news. This value can be used as a benchmark and comparison with the latest published news values.
5. Value forecast
Estimated value or also called forecast value is data that is predicted by competent sources before the official value is published. These sources are banks and economic observers. This approximate value of some traders is sufficient to inform the direction of market movements, and if they have good prospects, they will not hesitate to trade.
6. Actual value
What is meant by the actual value awaited on the forex factory website is the release number from the official agency. But only in a state of numbers that are far from estimates can have a big impact on moving the market.
As has been said before, understanding this forex website is not an easy matter. But this is not the only way to win your transaction. As a trader you can choose to learn how to get information from the forex factory to make a profit or as additional knowledge only because you are more suitable to use forex technical analysis. Good luck and good luck!
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