Why Using an Economic Calendar When Day Trading is So Important 🦊
Why you must use a trading calendar when daytrading? PLEASE LIKE AND SHARE THIS VIDEO SO WE CAN DO MORE! What is an economic calendar? An economic calendar is a diary of all the economic announcements that are coming out related to the economy. Figures like inflation, interest rates, job numbers, CPI, PPI. We aren’t economists but if we’re day trading these numbers have the potential to move the markets we are trading. As such there is a hidden risk in this – number comes out and you will see a spike in direction one way or another and as such you are giving away control of risk. Secondly the pattern of trading changes dramatically when we have big data coming ou, say like NFP (Non-Farm Payrolls) or a bit interest rate announcements. The likelihood is that the way any correlated markets are going to move but the pattern of trading will change.