The Forex Factory Calendar is the most accurate forex app that helps you keep track of the latest forex-related events and news, right on your devices.
How can Malaysians Download the Forex Factory Calendar? How can you set it up to provide you with only news and events in your currency pairs? Let’s find out…
Many technical forex traders make the grand error of thinking that because of their own adoption of the technical approach to the market, do not need to pay attention to news events.
Even though it is not absolutely compulsory you do study the news, it is an advantage to know when it is expected the news. This is truer for high-impact news, which could have severed negative effect on the market.
Not only is the news affect the open position, it can cause landslides and deficiencies that can cause damage to the demands of the detainees.
So, without further ado, here is how you can use the Forex Factory calendar and begin to make morre informed business decisions and wins too!
1. Get going
To get started, visit the official forex factory calendar website Forex Factory .
You’ll encounter a similar screen as the one above, simply navigate your mouse to the forex calendar option at the top.
Don’t be confused with the activity on the screen, it’ll make far much sense when you follow this guide.
Next up, we start tailoring the activity based on what we want.
Changing the Time Zone.
Changing the time zone will ensure you only get forex related news and events from your particular region.
Malaysian time zone is 8 Hours past Green Which Time, meaning GMT+8.
So how do you change the time zone on the forex factory calendar to your own time zone to better tailor news and events from your region?
At The top right comer, just besides the Login option, you’ll see see a clock. Just tap on it.
You will come accross a screen like this:
After selecting your timezone, you can also enable Daylight Saving which is the ‘DST’option there.
You can also decide the time format you’d like.
Note: It is crucially important you set the correct timezone. This not only helps you in getting the right news frequently, but also helps you make more smart trading business.
By now, you should have the forex Factory Calendar tailored to show only news and events from your timezone.
The next step is to configure and filter the calendar to your trading currency pairs.
Using the Events Filter.
While still on the calendar tab, click on the ‘Filter’ at the top right corner, as shown below
You will be presented with a screen as shown below.
This makes the calendar convenient, and filters out unwanted currencies you don’t trade with and only shows news and events you need. It’s a time saver.
Hover your mouse pointer to the ‘Expected Output’, to see what each option means.
Let me give you a short intro to what they’re all about.
Red: High Impact Events (keep this ticked)
Orange: Medium Impact Events (Keep this ticked as well.)
Yellow: Low Impact Events (Keep this ticked on if you want to clutter your calendar with little to no profit trades. I’d recommend you don’t!).
When you’re done customizing your events filter, click on the ‘Apply’ button to save your settings.
Keeping up to this guide, you will be able to make more smart forex trading with the right news, and complete analysis of your trading pairs using the Forex Factory calendar.