Find Out When An Economic News Event Will Be Released
The following tutorial outlines the economic news releases for the week. I find it very helpful because it rates every release in terms of importance on a grading scale of red to yellow. A red denotes very important down to yellow with little significance to the markets. It even lists what the market expects to happen with the briefing.com forecast.

I take the time on the weekend to make a note of the day and hour of the major US news releases scheduled for the next week.

Click Here for the Forex Factory Economic Calendar:

www.forexfactory.com/calendar.php

1. Check the economic Calendar

2. Look at a 30 min or 1 hour chart to see the prevailing major trend.

I always check before I start trading and I write down the support/resistance, trend, trading range, target highs & lows, news release times, etc. on my Daily Trading Sheet, which is provided in the Day Trade Forex Advanced course.

Most often, the economic news release is scheduled for 8:30 AM EST. If you are in a trade at this time, make sure you have your stop loss at a place you are happy with.

The volatility is scary and fast, but if you aren’t already in a trade, you can jump in once you see the major trend, usually after the first 5-15 minutes. Look at a 30 min or 1 hour chart to see the major trend.

IMPORTANT NOTE: Most of the forex brokerages have now stopped guaranteeing their stops during fundamental news release times, as the volatility is so extreme, that the price can often move faster than their servers can keep up with. Thus, please be very aware that getting into and out of a trade when you want, can sometimes be next to impossible. You can possibly encounter several things during news release times: whipsaw of the price, slippage, freezing of the platform, disconnects, re-quotes of price, loss of money, etc. Don’t bother calling up any dealing desk to complain, as they are all now distancing themselves from this problem, and they all have a disclaimer on their websites. It is a buyer-beware type of situation. If you choose to play the news, you have to be aware of it’s risks. The rewards can be very great in just a few minutes, or it can go against you.

Visit our website to learn more:
www.daytradeforex.com/advanced.htm