FREE TRADING TOOL: Economic Calendar – How it works
We have a new Economic Calendar tool we have added onto the MATI Trader website in collaboration with TradingView.
Whether you’re a fundamental (news and market related) trader or a technical (charts and historical info related) trader, this is a must-have tool to add to your trading arsenal.
Bookmark this link, so you know where to see high impact news events each day:
Here is what it is, why you need it, how to read it and what you can do to manage your high probability trades.
What is the Economic Calendar?
The Economic Calendar is a powerful tool used by most traders to help you track good & bad news announcements, economic indicators, government reports and upcoming market-moving events.
Each day you’ll see a list of financial world and economical news events in a chronological order.
These events are to help you research and evaluate the impact they could have on different currencies, stocks, indices and commodities.
Make sure the bar chart is highlighted in blue to see only HIGH IMPACT NEWS.
How to read the Economic Calendar
Once you’ve visited the website, http://timonandmati.com/tradingview/ you’ll easily understand how to read the Economic Calendar.
All economic events are shown in chronological order with the date and the time the announcement was released or will be released.
Time and country
Below the date you’ll see the country’s flag and the time the event will be released or has been announced.
NOTE: If you see the bar chart highlighted in blue – it means the event is a High Impact announcement.
On the top left next to the time will indicate the news or the events.
With each economic indicator event released, you’ll find the Actual, Forecast (Predicted) and Previous (Prior) numbers next to the date.
The economic event’s data released which shows you whether the data is BETTER or WORSE than the forecast number (expected).
The expected number or forecast is the general agreement of the experts, analysts and economists.
The previous data results e.g. Last month, last quarter or previous results.
How to customize your Economic Calendar
First, click on countries flags at the top of the calendar.
A new window will open, where you can remove or select the countries events you’d like to see.
Then click ‘Apply’ to update the information.
Extra notes with the Economic Calendar
There are a couple of important events you’ll need to watch out for on a monthly basis.
Some of the most influential events, in no specific order, are the following:
Interest rate decisions
Changed in monetary policy
QE Quantitative Easing
Changes in Gross Domestic Product (GDP)
Consumer Price Index (CPI)
Purchasing Managers Index (PMI)
Initial Jobless Claims
FOMC, Central banks meetings and economic talks
You’ll see these will have a ripple effect on wider market movements.
Economic indicators are the not only important events to watch out for. Also take note about the following news events:
Event #1: ECB (European Central Bank)
Event #2: US Fed
Event #3: Bank of England
Event #4: Bank of Japan
Event #5: Swiss National Bank
Event #6: Bank of Australia
Right you have the Economic Calendar tool, now you need to do two things.
First, save this link somewhere so you can visit it each day and see what high impact news will take place. http://timonandmati.com/tradingview/
Second, save this article to use as reference with your trading.
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Enjoy and remember…
You won’t need to buy or order another book on chart patterns and candlesticks ever again as I will be updating it very often and will let you know.
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