Forex trading requires a lot of cognizance regarding the global activities. It is important that every trader pays special attention to the global movements, for making the right trade. A brokerage platform that understands the importance of having an economic calendar ready for its clients will be a step ahead. Ariolinvgroup has put the right step forward by ensuring that their economic calendar is updated and easily accessible to every Forex trader. As per Ariolinvgroup review, the economic calendar is collaborative, thus helping traders keep a track of the global market movements, seamlessly.
There are multiple benefits provided by the economic calendar. In this article, we’ll find out how to use the economic calendar of Ariolinvgroup. We shall also find out 5 crucial reasons why an economic calendar should be in your list of technical trading tools.
What is an economic calendar?
Forex trading involves making informed decisions to drive market movements based on global events. An economic calendar is a collection of global news and releases related to the financial world, which have an impact on market movements. An economic calendar is the road map for the Forex market and traders to follow. Based on it, the future positions can be decided, hence enabling a smoother transaction across the forex market.
How to use the economic calendar of Ariolinvgroup?
There are two different options in the economic calendar of Ariolinvgroup:
- Sorting based on the country-wise global events
- Sorting based on the importance of the global events
Both of them have their own importance. Country wise global events help the Forex traders to understand important events based on the country against which they are pairing the currency. It can give them a holistic view as to what is the expected movement based on the countries’ important events.
Important global events give clarity in terms of the crucial events that take place globally. In this way, the traders don’t lose sight of the important global events, which help them to be on top of the global market movements.
Steps to use the economic calendar
- Click on the globe icon to have a list of the global events as noted in the economic calendar
- The events are having the values for Actual, Forecasted and Prior values
- On any important event, which can drive your decision of taking a position in the market, click on it. A dropdown menu appears. Select the Add to Calendar option to add the event to the calendar.
- To find the events of higher importance, click on the bar graph in the top option.
- Global events are sorted based on the country. You can click on them to extract further information about them.
Benefits of economic calendar for forex trading
With real time updates on the global events, press releases and financial happenings – the economic calendar serves as a strong backbone for making trading decisions. It is a comprehensive collection of important indicators that base the movement of forex movement. It can help traders to stay a point ahead of their financial decisions, which will act like a boost for trading in the right direction for the forex traders.