Learn About The Forex Factory Website And Its Benefits For Traders 

Among the many ways to earn additional income, Forex trading is in ever-growing demand. Forex, also known as Forex, is the trading of foreign currencies or foreign exchange (forex). This exchange happens because you need these currencies, for example, to travel abroad, buy goods abroad, etc.

Apart from non-profit organizations, many people trade currencies for profit or profit. This occupation is very tempting, because the difference in earnings between one coin and another is quite large. Forex traders are generally experienced in analyzing and understanding the internal and external movements of a currency for global trends.

With constantly dynamic changes in the value of a currency, merchants need a place where they can also easily track the movements in the value of a currency. One of these platforms is the international site Forex Factory.

Learn About The Forex Factory Website And Its Benefits For Traders

Learn About The Forex Factory Website And Its Benefits For Traders

Forex Factory is an international site that can provide information about trading and events in the foreign exchange market. We need a forum of traders and traders from all over the world.

This forum makes it easy to find out all the latest information in the world of forex investing and important events that affect the movement of world currencies. Not only that, but also economic news that has a large or small impact on the movement of the value of a currency.

Find out what features are available at Forex Factory

The main features of the Forex Factory website are a trading forum and a forex calendar. You can use this feature to track the movement of currency values ​​in national economies around the world. This feature is presented in the form of a table, which makes it very easy to analyze, especially for newcomers to the field of traders.

However, there are still some terms in the forex calendar that you need to know. Here are some terms in Forex Factory and the Forex calendar features included in them.

1. Promise

Just like their literal meaning, the dates in the forex calendar represent dates. In particular, this section presents events or events that may affect the movement of the foreign exchange market.

Twice

Shows the approximate time of occurrence of global events that may affect the currency market.

3. Currency

Shows the currency symbol of the country. For example, the US dollar is denoted as USD, the Indonesian rupiah as IDR, and the Korean won as KRW.

4. Impact

In the Forex calendar, the Impact section shows the expected impact of an event or data published in the Date and Time section. There are 4 colors in this section.

  • – Red means strong impact.
  • – Yellow means low impact.
  • – Orange means medium impact.
  • – White, which represents national holidays.

5. Events

The “Events” section of the Forex calendar describes the various events that take place. For example, if the president of the country issues new rules. As soon as the event occurs, the name of the event and the event itself will appear in the “Events” section of the Forex Calendar.

6. Details

This section is always closely related to the event, as it describes the event that occurred. The explanation is complete so that Forex Factory forum members can understand the relationship between events and currency fluctuations.

7. Forecast

In particular, the “Forecast” section allows you to view forecasted economic data for ongoing events. The existence of this valuation may influence the trader’s next strategy.

8. Royal

Continuing with the forecast section, this factual section describes the economic data of the events that have occurred. This section has two colored markers: green and black. Green means the economic data is showing better than expected economic data. Black means that the data displayed in the forecast section and the estimates are similar.

9. Previous

In particular, this section presents data or figures for the previous period in full.

10. Diagram

The last part of the forex calendar is a chart, sometimes a chart showing the movement of data. This chart lets traders know whether the displayed data is in ascending or descending order. It is at the highest point or at the lowest point.

Benefits of Forex Factory

Most Forex traders trade based on the momentum of events and daily international news. The information displayed is always up-to-date, so you can make the right decision right away. You can also get the maximum profit from Forex trading.

In addition, the Forex Factory discussion forum gives you unlimited knowledge about the world of trading. Various topics for discussion, including broker information, trading systems, registrations, trading platform discussions and more. It is easy to find even for beginners.

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