Economic Calendar is an important tool for every trader. You can spend only one minute or less per day but the level of profitability can be high.
A short description
An economic calendar shows the scheduled news events or data releases related to the economy and financial markets. Including GDP, Non-Farm Payroll numbers, and interest rate decisions.
Level of importance of events in the economic calendar
Each event that we publish is graded-depending on which Economic Calendar that we use. Minor events that have a low impact are not so marked by our side.
Events that have average importance are marked by the yellow star beside the event. Yellow indicates some caution is warranted at this time. Red stars/dots, or a "High" marking, indicates an important news or information release which has a high probability to move market significantly
Risk Caused by High Impact Data/News Releases
As a day trader or even a swing trader, the events marked red are the ones you need to be aware of. Whether the data comes out way above, way below, or right in line with market expectations, volatility around the event is typical.
Reducing Your Risk with the Economic Calendar
Check your economic calendar each morning, before you start trading, and jot down the times of the major data releases.
If you day trade options, you can hold your positions through a major data release. Many options strategies are designed for trading these types of specific events. Options are a little different than other markets, though. Once you buy an option your risk is covered; the added value you paid is the potential loss. When you buy an option or close out the trade you may get slippage, but it is not possible to lose more than your premium.
Risk Warning: Trading Forex is highly speculative and carries a high level of risk. It is possible to lose all your capital. These products may not be suitable for everyone so before deciding to trade Company’s Products you should carefully consider your financial condition and your level of experience. Seek for independent advice if necessary. Speculate only with funds that you can afford to lose.
Risk disclosure: Forex trading involves significant risk. We strongly advise that you read our Terms & Conditions. Although the risk when trading Forex is fixed for each individual trade, the trades are live and it is possible to lose your initial investment, particularly if a trader chooses to place his entire investment to a single live trade. It is highly recommended that traders choose a proper money management strategy which limits the total consecutive trades or total outstanding investment.
Disclaimer: MyCapital is an online trading platform provider. We are an industry leading Forex broker by offering to our investors the ability to trade underlying assets on an accurate and state of the art Forex options trading platform. MyCapital advises its clients to read our terms and conditions carefully before opening positions on our platform. Digital options quotes displayed on our platform are rates that the company is prepared to offer options at, and as a result, may not necessarily correspond to the exact live market quotations. Trading MyCapital contains risks, which may result in partial or full loss of an investment. There are risks associated with utilizing an Internet-based trading system including, but not limited to, the failure of hardware, software, and Internet connection. The Company is not responsible for communication failures or delays when trading via the Internet. Any opinions, news, research, analyses, or other information contained on this website are provided as general market commentary and do not constitute investment advice. The Company is not liable for any loss or damage, including and without limitation to, any loss of profit which may arise directly or indirectly from use of or reliance on such information.
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