The resources section of my website provides links to a couple of
Fundamental Announcement calendars (see Appendix A).
Every day is different, with different countries posted to release
announcements. Often you will see the same country making
multiple announcements for the same time. This is the best
setup as when there are multiple announcements happening
simultaneously then the market is much more likely to react
strongly. One danger is that if there are multiple announcements
then there is a greater chance of whiplash happening (more about
whiplash later).
You could also trade when there is only one announcement at a
particular time from a particular country, however it becomes less
likely that you’ll see a major price move. Generally it is best if
there are two or more at the same time.
You should also pay attention to what the announcement appears
to be. Release of key economic figures seems to generate more
action than speeches (generally). Really, it’s difficult to say
exactly what creates strong reactions, but after practicing for a
while you should get a feel for what to expect.
At the end of this section I provide you a list of “key”
announcement types to pay attention to. See section titled “Key
Announcements”.
Furthermore, economic figures released in the morning time of
that particular market seem to have more impact than later ones;
announcements that happen early during market overlap times
tend to be best (more about market overlap later)
Look at what is posted for the next day to plan accordingly;
deciding what time(s) seem to offer the best opportunity, and
which currency pair you plan to trade at that time.
Set your plan in advance and you should have better success,
simply because you can plan to be ready to trade for those times
and you’ll be thinking clearer about how to proceed with the trade.
What you might want to do (highly recommended) is to review the
upcoming week in the Fundamental Announcements calendar
during the weekend, and write out a plan for the week detailing
the exact times you plan to trade and on which currency pairs.
The ten minutes spent doing this separates you from novice
traders, showing you are a professional quality trader that takes
the time to properly plan your trades, and then trade your plan.
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