Forex factory how professional forex traders use forex factory news

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Forex factory how professional forex traders use forex factory newsForex Factory: How Professional Forex Traders use Forex Factory News

by Joe Oliver, Forex Trading-Pips

Forex Factory News from the Forex Factory

Forex Factory News is one of the best places on the web to receive timely live breaking Forex news events. Forex Factory News has been designed for professional Forex traders and investors around the world, allowing them to converge and discuss news, trading strategies and receive timely updates on foreign exchange related information.

Many Professional Traders rely on the Forex Factory Calendar for checking up on key news events before placing trades. Although Forex Brokers typically provide live RSS feeds which provide the same information, Forex Factory News is a popular alternative for many traders around the world.

Forex news events can produce large intraday volatility which needs to be considered as part of a robust trading plan. The Forex Factory Calendar allows traders to view real time live breaking news events for free including key economic data release and government reports. Data is normally reported within seconds of actual release.

One of the most useful features on Forex Factory Calendar is the impact meter, a color coded bulletin which allows forex traders to assess the impact that the news event is likely to have on the Forex market. Significant economic bulletins are color coded RED while those deemed less significant are color coded YELLOW.

Key news events such as NFP (Non Farm Payrol) and interest rate decisions typically have significant impact on prices and spreads in the Forex markets and need to be considered by traders holding or intending to open positions in the Forex markets.

How do professional traders handle news data released on the Forex Factory Calendar?

Forex News trading is notoriously difficult, this does not mean however that news releases should be ignored. Even the most technically minded traders need to consider what impact a news event is likely to have on positions they may be holding. Professional traders often wait for significant news to be released prior to initiating any new trades on that day.

News releases that are outside the expectations of the market can create significant adverse price moves posing additional risk as well as potential rewards to traders. If trades are taken pre news event professional traders will typically reduce the trade size to accommodate the expected increase in volatility following the data release. Existing positions also need to be managed, particularly those with stops close to current market prices.

News release has the potential to gap prices over stops and poses additional risk over normal market conditions. Check out Forex Factory now for more information!