Free Daily Economic Calendar Alerts
It’s important to check the Economic Calendar on a daily basis to ensure there are no High Volatility news events scheduled for the day.
Check the Economic Calendar every day and make a note of timings of news alerts that could set the market trading – so you’re not taken by surprise by sudden market volatility.
We usually keep an Economic Calendar open on a separate window, so we can refer to it if needs be. You could of course copy down the details of any news events that you think will potentially affect the markets.
How To Choose A Free Economic Calendar
Like with most things in life, the best Economic Calendar for you is actually down to the one which you prefer and find easiest on the eye and more importantly informative.
Most economic calendars will grade the calendar and news items using low, medium and high potential volatility markers and some kind of indicator to draw your attention to it.
One of the most popular free Economic Calendars available offers a ‘Week In View Economic Calendar‘. This economic calendar lists news items with potential high volatility graded using a ‘3 Bulls’ indicator.
Sometimes the Economic Calendar will use a colour code; Green, Amber, Red for example for low, medium and potentially high volatility news items. Whatever style you choose, make sure that you understand the difference in alert attached to each news item listed on the calendar.
Using the ‘Bulls’ analogy from earlier, this Economic Calendar uses the Bulls to indicate market volatility as below and as shown in the image to the left – you can also click the image to see a live representation of the economic calendar;
One Bull = Low Volatility
Two Bulls = Medium Volatility
Three Bulls = High Volatility
You can stay ‘one step ahead’ and maximise on news events scheduled on the daily Economic Calendar Alerts and be ready to trade on any change of direction, for example.
Whilst you could be forgiven in thinking that traders will have worked into the price based on the expected result of the economic calendar news item, a reaction can occur even despite the stats being ‘expected’ and prior data listed alongside the scheduled economic events.
For example, if the ECB decides on the invariability of interest rates, and, as a result, the euro rises significantly.
To be sure of your Forex trading strategy, you should pay attention to freely available fundamental and technical analysis, which is published on a daily basis in the ‘News’ section of Pocket Money Trader.