Forex Factory is a community-driven website that strives to help traders avoid costly mistakes. They do this by cultivating an active community and providing comprehensive data streams that keep users informed and on top of the market.
They provide a number of complimentary tools that can enhance your trading experience. These include a trader sentiment indicator, news calendar and trading journal.
Forex Factory provides a trade explorer that connects to your brokerage account and automatically collects and synchronizes trading data. This powerful tool can be especially beneficial for traders who want to gauge their current performance in trading.
This tool enables you to analyze a range of data, such as trading volumes and average spreads. It also pulls in live market information so you can gain a better insight into how markets respond to different events.
Easy to use and an excellent tool for tracking trading activity, the app also gives important information such as when trading sessions begin and end, plus how far into the current one you are.
Forex Factory members have access to this forum which is monitored and moderated by the website staff. This ensures you receive only relevant answers from other traders, while preventing spamming the forums.
Forex Factory’s News section provides members with timely market data from around the globe. This makes it a valuable resource for traders of any level – whether they are novice investors or experienced professionals.
The News section is designed for ease of use and navigation, providing various news categories in multiple formats. Furthermore, you have various sorting options that can be tailored according to your preferences.
For instance, you can customize the News tool to display only news relevant to the currency pair you’re trading. Doing this helps avoid getting overwhelmed with irrelevant information – particularly helpful for novice traders who may lack sufficient market expertise.
You can set a filter on the Forex Factory calendar to limit which events you wish to view. It’s simple and can help keep track of important news that could influence your trade results.
Forex Factory is a well-established website that offers numerous helpful trading tools and tips for all levels of investors. They also feature an impressive calendar which can be invaluable when it comes to staying informed on currency market news.
Traders must stay alert to global events that could have an immense impact on market prices, particularly economic announcements that cause high volatility in currencies.
A comprehensive economic calendar will include all of these significant financial announcements, their date, country of origin and expected impact. You may even have the option to filter results to display only certain currency pairs and types of events.
The forex factory calendar is an invaluable asset for traders of any experience level, whether they specialize in long- or short-term trades. It can provide a convenient way of staying abreast of key market updates and lead to better trade entry placements.
A trading journal is an invaluable tool for tracking your trades and learning from successes and losses alike. It also assists in formulating a strategy that works best for you, so that you can improve your results over time.
Forex Factory provides a trade journal service that’s user-friendly and provides cloud-based backup of your information. This ensures you won’t lose anything if your computer crashes, helping you stay consistent with your trades.
Forex Factory’s trading journal is a free service that enables you to post your trades in an open forum. This can be an invaluable way for traders to connect and collaborate.
Forex Factory’s trading journal includes alerts for news, calendar events and member activity so you’re always up-to-date on market data. This is an invaluable feature for anyone wanting to stay ahead of the Forex market.