To make money on the stock exchanges, you must always be aware of the economic events in the world. What brought income today may lose its value tomorrow. So, there is a known case of a fall in Coca-Cola shares due to the fact that Cristiano Ronaldo preferred plain water to her.
As you can see, even such little things can affect your earnings. What to say about global financial changes. To help traders comes economic calendar of important events. It contains reports of the speeches of influential businessmen, statistics. This information helps predict changes in the currency and stock markets. The information is presented in a convenient visual table with strict publication times. Do not be alarmed if in the first two minutes the charts in the table move in different directions.
Benefits of a calendar
The importance of the calendar is as follows:
- It not only gives an idea of when the news will come out, but also tells traders what decision is best to take;
- Users receive information about the holidays of a particular country. It is important to know which state banks do not work on certain days today;
- Sorts news by importance and shows an analytical report.
He also shows the opinion of investors after economic events.
How to use it to make money
To make a profit, the calendar should be used correctly.Let's take a closer look:
- Don't rely solely on statistics, you need to check the forecasts as well. Fundamental news should only be checked in conjunction with others;
- When sorting news, you might miss out on important events. Let's say you chose the current market economy in France, but missed the US analyst, which could have had a huge impact. on stocks in the world;
- For a greater likelihood of buying valuable stocks, the best option would be to analyze news that are marked as important on the calendar.
Also, especially for beginners, you cannot be completely confident in the reports. It does not guarantee that the quotation will increase. Do not forget about the analysis of pin bars, a growing wedge, etc. For those who have just started trading professionals advise to keep an Excel spreadsheet with miscalculations of Margin Call and Stop Out levels, which will help in calculating the limit value quotes. The choice of the calendar itself will also be an important factor. It is better to give preference to those in which there is a search by volatility, date range, country, category, etc.
