I have this question that have been puzzling me so much which is, how can i keep track of the political and economical live events? For example, whenever there is an event happening regarding Brexit news, I always know what has happened about one hour after the event or sometimes even longer, which mean I already miss the trade long before I know what has happened. Another example, when one of the central banks members of any country is about to speak, I would usually know what that member talked about regarding the monetary policy and future interest rates decision probably a couple of hours to even days after their speech! So how can I have almost instantaneous access to these live events that affect GREATLY the market?
Hello, it is very easy. You can make use of an economic calendar. I prefer this one: Forex Calendar @ Forex Factory , you should pay attention to the news in red or orange.
Hello, I already use the economic calender but it still doesn’t show you what was said in the speech or what was the future expectation regarding the monetary policy…etc. Or for example events regarding the brexit news are usually written articles about them at least one hour AFTER the speech or voting…This is what I am trying to keep track of almost Instantaneously just like other economic events, such as GDP…etc.
Lots of reading, social media, find and monitor the right news sources really. Whatever you’re doing every couple hours or days has to be done more frequently.
Economic calendars are a great way to get ahead of upcoming events. I like Twitter too. Moves really fast if you know what to search for. And then financial news outlets. Lots of options really.
I have done all of those and even some more stuff but non of them give you an instant access. They all give you an idea of what has happened probably after one hour (that’s the fastest I have ever seen so far) which means you already miss out on a big chunk of a trade. If you have any other ideas please let me know so I can solve this problem.
It’s arguably one of the finest calendars around to be honest. And arguably also still one of the finest brokers in the industry (even although we had our business differences back then they sure do still have my vote) (no I don’t work for them anymore and am in no way affiliated with them anymore either) (other than having a secondary trading account with them).
P.S.
Her’s another version (their sister company in the UK) (although still prefer Deltastock’s calendar after looking at it tonight again after all these years):
An online economic news calendar like Forex Economic Calendar or Forex Calendar @ Forex Factory will have the scheduled news items but some political events might not be listed with them. I suggest to scan regular news sources for those. FT/WSJ etc…
Utilizing many new sources will be your best bet. There’s always one that has what the other doesn’t. Or you can see if two are reporting the same thing and compare them. Forex is a lot of fun, but also a lot of work.
I think i know what you mean-if not please correct me: the big problem in" trading the news" are those informations which have severe impact on price, but which are not listed in any calender.
No doubt, knowing when news are released from the calender is an advantage, but only insider know what the numbers are and can take positions in advance. OK, you can estimate the situation, but nevertheless you know that volatility will increase at a certain point of time and this gives you trading options even if you don’t know the exact numbers.
But the real big problems are caused by those news, which are not listed on any calender because they just happen- example: Dragy (Mario) plays golf, a reporter team acompanies him, he misses with the first strike the ball and whispers to himsel ’ i wish i would be so strong as the EUR should be" and laughs.
The reporter reports" during a golf match Dragy said he wants a strong EUR"
You can fancy whats going to happen the next minutes…but you cannot anticipate such scenarios. You only can have a good placed stop.
The tool you are looking for does not exist anyway. Traders normally use economic calendars and follow blogs like fxstreet.com to get details of what is going on the market.
Sorry. Only when I saw this answer of yours did I realize what you were asking originally.
You’re taking about a live news feed is all. I only know of two brokers’ live news feeds that’s any good. But you have to have a live account with them to access. But you also need to realize that there will be delays even if only milliseconds and much of this depends on your Internet connection speed and various other factors.
I look at this calendar page on one terminal and the other terminal to place trades.
You have to analyse well what the situation is and where is the price. You must have a sense of its motion and the sentiment. Look at its every move before the news and try sense what is building up.
I don’t subscribe to Forex Source but they are driven to fundamentals and offer live news most probably fast and trustworthy. Other similar ones are probably the fastest way to get news as soon as possible, and you have to pay for it.
The economic calendar shows upcoming events. But price movements will depend on their outcome. And no one will tell you in advance what decision a commission will take. Of course, we all would like to know the insider, but where to find it?
Life doesn’t work like that @Alekxandra. If the professionals knew today that the market would rise on the release of next month’s economic data, they would be acting on that knowledge today and buying. So when next month rolls around, price would not rise, as all the professionals have already bought in. In fact, it might fall, as they have already made their profit from the rising prices and they know the other professionals are not going to buy from here as they have already bought also last month, so they might as well sell. And so the cycle goes on.
But all is not lost. If the professionals buy price rises. If you watch price you will see when it rises. The question becomes what are you going to do about it?
One simple solution to this is using live economic calendars. Access to them is really user friendly. You can easily anticipate the market movements here and know everything about the currency pairs. They offer you with live news and updates from the central banks, politics and other commentaries and articles that help you easily interpret the market.