FOREX market is a highly competitive market and from the time an investor or trader decided to enter and join this market, risks that entails this kind of dealing is like a sphere that is encircling around every time that they are having transactions in the market. And if FOREX traders will not take extra care, the danger of being broke one day will become more inevitable.
Together with other FOREX trading tools, a FOREX factory calendar indicator proves to be very significant to FOREX traders all around the world. Using the FOREX calendar will enable traders to improve the chances of reducing the risks of any unguarded positions throughout the precarious trading times, and still manage to get a hold of the advantage from the said volatile condition. FOREX calendar presents important information and details about key economic announcements like dates and times, as well as market forecasts. It keeps track of the vital movements and important indicators that affect the market. Previous, actual and future figures are shown in the calendar for comparison and analysis purposes. The calendar is a seminal tool that is being used to fundamentally analyze all kinds of commodities and currency pairs, as well as stocks. The value of currencies realign accordingly as particular economic data are announced and made public. It is crucial to determine when such economic data will be released so as to seize the opportunity of the advantageous moves that will follow, or to prevent losses due to unexpected actions and responses. FOREX calendar shows the figures that will come about, in advance, which gives traders hints of chances and risks even before the set of the trade. But it is recommended to compare figures on some calendars because substantial variances may sometimes happen in consensus. That is why it is important to observe FOREX factory calendar indicator carefully as it can influence the prices in the market, directly and indirectly. Likewise, look at the calendar every so often; even everyday; and in some special cases, every hour so as to be updated regarding consensus predictions and market activities.
FOREX calendar keys include the event which refers to the kind of the given data and indicators, and the country from which the indicators and figures are released. The time or period that they are released is also indicated in the calendar whether the data for each particular indicator are released previously, or as of the moment. Moreover, forecasted data and indicators are also shown to give the traders relevant information that can influence the market. But be aware that depending alone on indicators for price forecasts will not guarantee good results. Financial and general news as well as technical analysis should also be taken significantly to determine the market events that are taking place all around the world and the period of which they are occurring.