5 Epic Ways to Get Massive Trades Using the FXT Economic Calendar

1. Find an Event To Trade

Finding the event to trade is an easy step. In the FXT WebTrader, all you have to do is open the Trading Tools and select the Economic Calendar. From there it’s easy to filter by country/location, event impact and more. You will be able to see the events listed by time and day.

2. Estimate Your Forecast

Often data forecasts can be better predicted by a trader, keeping track of your forecasts could mean finding your trading edge. Using the forecast feature of the Economic Calendar, you can see where price goes if the announcement is above, below or matching the forecast. If you can estimate well, you could get into trades early. Otherwise, you can at least know the likely direction of each situation from the Volatility Chart in the Economic Calendar tool.

3. Find an Anomaly

Anomalies can allow a trader to gain a massive edge over the market. An example of an anomaly is set out in the images below. 

The GBPUSD tends to drop for the first 30 minutes (or rise), then between the 30 minute and 4 hour mark following the announcement, the price tends to reverse the opposite direction. 

Often avoiding the major rush on the news can help improve liquidity and trade entry conditions making this a great option for traders to wait for 30 minutes, understand the direction of the initial move, then trade in the opposite direction for the next 3.5 hours. 

Finding anomalies like this can be a great way to create an edge in financial markets. The FXT WebTrader Economic Calendar makes it easy.

4. See the Moves

Seeing is believing, and seeing the moves from previous trading can help give certainty over what might happen this time around. The Impact tool in the Economic Calendar allows you to see what happened just like it does on your candlestick chart.

5. Correlations & Similarities

Using other forex pairs to trade at the same time may help to reduce risk and apply strategies to trading both pairs rather than a single asset at one time. If one pair doesn’t move while the other pair spikes perfectly, you could be in a far better position than before. More trades also means more times the probabilities are applied, so mapping out the expectations across multiple affected pairs on the same announcement could be beneficial. For example, the GBPAUD or the EURGBP could be traded along with the GBPUSD for the event. 

Using the tools in the economic calendar can allow you to map out a range of scenarios for each pair while you wait for the event to unfold. 

Each of these uses of the Economic Calendar could help you find a massive move in the markets and predict direction across several pairs. Knowledge is power, so be sure to educate yourself on the current data for each upcoming announcement you want to trade so you have the edge.