Are you a beginner trader? Are your winning trades sometimes suddenly stopped out and you didn't know why? Perhaps it was because some economic indicators were published. Perhaps there was an ECB press conference.
So what does it mean? For example the U.S. Government publishes every month (in the first week) their unemployment rate. Traders worldwide are waiting very nervously on these numbers, because the published numbers can be away from the forecast, so there will be a surprise in the market. In that case the market will move a lot.
So, in the hours before the unemployment rate gets published many traders stay out of the market. Why is it like that? It is because they are technical traders. Even though their technical indicators tell them to enter the market, they stay out.
If you are a technical trader, you need to know when the economic indicators for the currencies you are trading will be published. Therefore I can highly recommend you take a look every day at Forex-Factory.
There you will get a calendar with the most important economic indicators. Make sure to stay out the markets, when they get published.
For a trader it is always important to reduce risks.
Enjoy your trading!
To contact the editor, e-mail:
Most Popular Slideshows
- Robert Pattinson-Kristen Stewart: Twilight Lovers To Bring Back Love at 2013 Cannes Festival [PHOTOS]
- Angelina Jolie Double Mastectomy: Other Celebrities Who Also Went Through the Surgical Procedure [PHOTOS]
- IN PHOTOS! A Picture of Sadness in Kristen Stewart as Robert Pattinson Celebrates 27th Birthday ALONE? [SLIDESHOW]
- Jaden Smith Clarifies Emancipation Reports with Dad Will Smith on TV Show ‘Ellen’ [PHOTOS AND VIDEO]