Why do you need an economic calendar, where to view it and how to use it

Many auxiliary tools have been developed for trading on the stock market in the modern world. One of them is the economic calendar. It allows the trader to actively trade and make several deliberate and profitable transactions per day. Here the trader is only required to actively monitor the events taking place in the economic sphere of life and be able to analyze them. The calendar helps him in this.

What is an economic calendar

The economic calendar can be called a kind of news aggregate. Here a trader can see publications about the main economic events that take place in the world community. Unlike standard news tools, you can see the information that is just planned for publication in the calendar. Those. when the data appears on the calendar, it is not yet available to the general public. Thanks to this, a trader can think over his strategy, as they say, “one step ahead” and thereby bypass his competitors.
Explanation of the event in the economic calendar [/ caption] In addition to news in the economic calendar, you can see the following information:

1. Reports . Here you can see all kinds of reports that relate to the performance of certain operations. In addition to the name of the document, information about the time of its publication will be available, which is far from the last value on the stock market.
2. Schedule of days on which exchanges will not work . Knowing about these dates also plays an important role in planning your own strategy.
3. In some calendars, it is possible to watch speeches and speeches of famous people on economic topics , as well as to get acquainted with information when certain laws and regulations that directly or indirectly relate to exchanges and stock markets will come into force .

Events in the investment calendar [/ caption] Here you can see a number of other important events. The calendar contains forecasts of analysts and suggested options for the development of a particular economic indicator. By analyzing these factors, a trader can develop for himself the optimal action strategy aimed at increasing his income.

What is the economic calendar for traders for?

Thanks to the built-in functionality of this tool, a person can follow current events in the economic sphere. Analyzing these factors is very important for a stock market trader. The calendar allows you to correctly calculate your strategy of action. It is only important to be able to analyze the information provided by the economic calendar. If a trader or investor can learn this, he has every chance to increase his earnings in this area several times. In this case, the economic calendar will act as a kind of advisor, thanks to which the trader will be able to follow all relevant information on the financial market or stock exchange, as well as receive timely forecasts of the development of certain quotes, securities, etc.

Description of the main fields

Before you start working with a particular calendar, you need to familiarize yourself with its interface and determine the purpose of each of its parts. In the future, this will help to quickly analyze the information and take into account only those points that are necessary at a given point in time. Also, a trader should immediately understand what kind of data can be extracted from the calendar and what benefit they can bring in terms of increasing earnings. By its appearance, the economic calendar is a large table, the information in which is updated on a regular basis. Its columns and rows contain the following information:

1. Date and exact time of the event . Here you can find up-to-date information about when the report, speech, price change, publication, etc. was published. For a certain time before and after this event, the market will retain the highest volatility of the currency, as well as of securities. This can be used to increase the size of your earnings.
2. Country . The place where he / she was published is not the least important in the report or event. For example. The United States of America has published a national unemployment report. Analyzing this event, the investor / trader can reasonably assume that the US dollar will soon begin to fluctuate. Having found out this, he performs actions corresponding to this moment.
3. Actual data . Here we are talking about the level of inflation, the size of GDP or other indicators that experts presented in their report. They are no less important for a person doing business in the market or stock exchange. After the publication of the report / publication, etc. information about this data appears in the calendar. They can affect the exchange rate in both positive and negative contexts. The trader is only required to be able to analyze them. Based on this data, further decisions on transactions are made.
4. Forecast . The system automatically analyzes the sales data of the previous month. This is not yet accurate information, but only an assumption. However, even the forecast can affect the behavior of traders in any given month.
5. Data for the previous period of time . In the economic calendar, you can view reports on the behavior of traders in each specific period of time. Having analyzed how the market reacted to certain events that took place in the world, a person will be able to form an idea of ​​how to act during any change in the market or in the world community. This can greatly help in the process of increasing your income. He, again, will go “one step ahead” of his competitors.

Forex as an example

Let’s assume that the predicted results are lower than the actual ones. In this case, most of the economic indicators will creep up sharply. Accordingly, otherwise it will be the other way around. However, at this point, many will be interested in the question – does the national currency follow these indicators? Not always. It is influenced by a number of extraneous factors. For example, many analysts in the recent past expected GDP growth to be 3%. In reality, everything turned out differently, and in fact the indicator grew by only 2%. In this regard, there was a threat of a fall in the value of the national currency rate. On the contrary, if negative indicators appeared in the column with actual data, this may lead to the fact that the values ​​of quotations will increase. Provided, of course, that the actual drop was not as large as traders and analysts expected.Today, many types of economic calendars have been developed. In terms of content and general appearance, they practically do not differ from each other. However, they often have a different format and focus.

Before a trader starts using the calendar on the broker’s website, he is strongly advised to learn the meaning of all abbreviations that are applied both in the calendar and on the server itself.

Investing.com Russia Online Economic Calendar:

Examples of working with the calendar

Thanks to the economic calendar, a trader can develop his own forecasts and make transactions that can potentially increase his personal income. The use of this tool does not differ in its complexity and is available to people of any skill level. In the standard version, it looks like this:

1. The trader chooses the country , on the national currency of which he plans to earn. In the economic calendar, you can find information on transactions from all over the world, so finding the right currency will not be so difficult. However, it should be borne in mind that in less developed countries reports may be published on an irregular basis. Therefore, the trader will have to regularly monitor the news.
2. Next , an event is selected . In fact, the quotes of the national currency can be affected by any event within the country or in the international community. A trader is required to learn how to determine what factors will affect the rise or fall of the currency and, when publishing news with a similar event, take the necessary actions in time to increase earnings or reduce risk. For example, a trader can buy US dollars several times a day and at the same time earn a good profit if the exchange rate continues to grow steadily throughout the day.
3. The indicators are analyzed . If the event is still pending, data on previous periods, as well as forecasts of professional analysts, are taken into account here. Based on this information, a decision is made to perform various operations.
4. Then you have to wait until the report or other event is published . After it happens, you can expect a rise or fall in the exchange rate. Based on this data, a person can perform the opposite operation. Those. if he previously bought a currency, and its rate began to fall sharply, he can sell it until the main number of market participants learned about it, or vice versa, buy a currency, the rate of which has gone uphill.

Thanks to the economic calendar, a trader can get an idea of ​​future events and, in accordance with the information received, develop his own strategy to increase income. Economic calendar for a trader – how to use it and why a trader needs it: https://youtu.be/9BabarH32CA

Choosing an economic calendar – an up-to-date selection

The most famous Russian-language economic calendars include:

• investing economic calendar;
• forex calendar of economic events;
• fxteam economic calendar on the link;
• alpari economic calendar;
• economic calendar teletrade;
• forexpros ru economic calendar;
• forex club economic calendar;
• fxstreet economic calendar;
• economic calendar;
• roboforex economic calendar.

One important fact should be noted here. Economic calendars of different models practically do not differ from each other in their interface. Their main difference is in the direction and minor features of the interface. The economic calendar can be a great trader’s assistant. Thanks to him, he will constantly be aware of all relevant information in the economic field. Based on this data, he can leave his own forecasts and, in accordance with them, perform various actions on the market.