I use dailyfx economic calendar but i feel they dont update it quick enough, does anybody know of a calendar that is updated really fast? thanks in advance.
You can check Economic Calendar
You might get what you need
Try Forex Factory Calender.
The release dates of economic reports are known well in advance so the calendar should be already set up. Now if you ask for the actual figures then a calendar does you no good. You should be tuned in live as the numbers break because the market moves right away (that is if you trade economic news which is not what I would recommend).
Yes the actual figures are what im after, how do you tune in live? what website do you use? thanks
U can reconsider my way when super scalping on news release. Take a look at:
http://forums.babypips.com/free-forex-trading-systems/50741-spidypips-news-release-system.html
Hope u understand how it works, and i have excellent track record usin that system.
The biggest problem is less trade chance. Imagine when u make scalp only one per week or even per 2-3 weeks 
A similar question was asked and answered on another thread a day or two ago — 301 Moved Permanently
Well, you can get the news at places like Bloomberg or CNBC among other news channels. Pick whichever you prefer.
Thanks, so why wouldnt you trade news? if you dont mind answering that.
thanks i ll check it out.
I use Thomson Reuters - they are fast !
There is no reason you can predict an economic number which means that if you take a position prior to the release you take a 50/50 gamble. Gambling is not part of successful forex trading. It is important to monitor the data and act accordingly, but I use it to either add to existing positions or to close positions. The only way to directly benefit from the release is to open a position before the release and that is not intelligent in my opinion. After the release there will be opportunities for traders which is why I do not trade the data.
Thats fair enough, i was just wondering, isnt there a chance to profit after the news say bad news for the us, so you would sell the dollar short example havent tried it myself yet but wouldnt that work for a few pips in the short term if you make the trade as soon as you hear the news?
Yes… And contrary to what lastbear states you CAN get a good idea of what an economic release is going to be BEFORE it is released… You just have to study and have the know how… There are certain economic releases that I almost always open a trade a few minutes before the release and have an 80% rate of being correct… The beauty of it is I usually bag 30-50 pips in less then a minute on those trades.
There is a residual directional effect to economic releases… If you can’t place the trade before hand… Wait for a couple hours for the initial directional spike to retrace and then enter on the pull back… You have to know about how significant the release was though to really know how strong the residual effect will be… And this comes with studying and practice
can you elaborate on this? i’m interested…
Alright I’ll give one example… NZ retail sales, this will almost alway spike nzdusd by at least 30 pips, not unusual to see bigger spikes, if it varies from the previous release and forecasts.
I can get total credit card transaction volume of New Zealand for the period that the retail sales report covers… I can also get auto purchase volume… I can also determine if any new taxes were put in place that would hamper spending… I can see if energy or food prices fluctuated… All of these are leading indicators to the big retail sales figure.
All total I spend about 4 hours studying these things on each of my favorite releases to predict the release number. The forecasts that you’ll see on the economic calendars are often pretty conservative and once you know what you are looking for its not hard to see when a release is going to surpass the forecasted number and result in a spike on the charts.
Seriously… this is another terrible misinformative post. There are traders who trade economic releases and predict it just as you predict price action. They are just more informed about the data and are experienced in doing so.
thanks JackMarkets
Yes, there are market participants who do so and there may be some who do it with a greater success rate. In most cases the release is a surprise and the markets move. I just think newbies are better off to stay away from it.
There are traders who trade right after the data, they wait for the release and trade. There are pre-releases to bigger economic reports, but I highly doubt that there are traders who can predict the actual released figures with constant accuracy.