Do I Need the Economic Calendar As a Swing Trader?

Beginner Questions
1

Do I need to be looking at the economic calendar as a swing trader if I’m holding my positions for several days?

Or is this only suitable for day traders?

2

You would still need it to make sure you’re properly placing stops in case there are news releases that could make the pair volatile. But if you completely don’t want to consider it for stop loss placement, you can try using Bollinger bands as your guide instead.

3

you need to be looking at the news events everyday,

4

At least take a look on the news every now and then, but set some stops for the moments before the main news release times.

5

Yo, do you use telegram? You seem to be helping me a lot, I could share my chart with you…

6

shoot me a direct message on here,and I use it but I’m not currently mentoring anyone, at least not right now, but I don’t mind taking a look at what you have

7

I would say you still need to keep an eye on it yes.

4 Likes
8

If you are happy on the free stuff; then use the forums (popular fx forums) economic calendar! But you may not get quick service here!

9

I find its very rare for a long-term trade that I’m running to be stopped out by news because I use very wide set stops. In any case I am a trend-follower - I find that more bad news emerges in downtrends (when I would be short) and more good news emerges in uptrends (when I would be long).

But I still think best practice would be to get out of any position ahead of central bank interest rate announcements and NFPR. Its always possible to get back in.