Ejinvesting Review – What is an Economic Calender and How You Can Use One with Ejinvesting

 

Ejinvesting

What is an Economic Calendar?

An economic calendar is a schedule of news and other important information pertaining to the economy and the various sectors within it. Changes in interest rate policies, updated GDP figures, and non-farm payroll numbers are all examples of items that you can find on an economic calendar. The calendar lists down all of these events on a weekly basis, as well as the expected date and time of their occurrence.

This calendar is a vital tool for all traders – particularly for day traders –and is used to conduct fundamental analysis. By integrating daily news and updates into their analysis, traders can make more informed decisions.

Every event in an economic calendar is rated according to its impact on the market. For instance, events that are likely to have a minimal market impact are rated as ‘low’, while those expected to have a moderate impact are marked as ‘medium’. A ‘high’ rating, meanwhile, indicates that the specific news and event is likely to create significant swings in the market. The number of stars beside the event also indicate its expected market impact – one star = minimal impact; two stars = medium impact; and three stars = high/significant impact.

The Impact of High-Impact News and Events:

Day and swing traders should be mindful of all economic events, but should pay particular attention to the events rated ‘high’. The volatility around these events is expected to be high, regardless of whether the actual data turns out to be in line with, above, or below market expectations.

If you are aware of these events and their probable impact, you might want to cancel your pending orders and wait this market swing out. These canceled pending orders can cause a dip in liquidity shortly before the high-impact event. These canceled orders mean that there are not as many orders to absorb anymore, the asset price will usually whipsaw to either extreme before picking a more sustained direction.

Other than that, high-impact events lead to panic selling, which is when unanticipated price dips cause investors to dump their assets at a loss.

 What Are the Benefits of an Economic Calendar?

Ejinvesting recommends its clients to go through the economic calendar before commencing their trading activities for the day, and note down any major news or data releases.

Using an economic calendar has several advantages. One, it helps you establish a strategy. An economic calendar is particularly handy if you use multiple trading strategies such as trend trading, breakout trading, range trading, and arbitrage trading.

Secondly, referring to the economic calendar on a daily basis means that market events will not catch you by surprise. Without a trading calendar, there is always a chance that you overlook an important economic event and not factor it into your trading decisions.

Thirdly, economic calendar also plays a role in data analysis, especially when you use the calendar in combination with trend analysis.

How to Use the Ejinvesting Economic Calendar?

Ejinvesting understands the importance of a trading calendar, which is why it offers this calendar for free on its trading website and application. Reading and analyzing the economic calendar allows you to implement several trading strategies, some of which are:

Pre-data Trading:

This is when traders execute their trades before the high-impact data is published. Experienced traders can identify and interpret asset movements even before the data is publicly available, and often use these movements to their advantage.

Position Trading:

The economic calendar can also be used to establish long-term positions, irrespective of any short-term fluctuations or movements.

Pending Orders:

Pending orders are another smart way to use the economic calendar to your advantage. This strategy is actually the opposite of the pre-data trading approach, and involves benefiting from the volatility after the data has been published.

Final Word:

An economic calendar is a vital tool for all traders. To benefit from this and other essential trading features such as a seamless trading app, 24/7 customer service, and easy withdrawals and deposits, you should consider creating a trading account with Ejinvesting. To learn more about the brokerage firm and determine if it is the right choice for you, please feel free to check out the Ejinvesting website.

 

Disclaimer: This is a sponsored marketing content.

About the author

Brent Dixon is the owner of E-Crypto News and an early adopter of cryptocurrencies. He is a Book editor- that has edited numerous books on Cryptocurrencies. He has been a writer for more than 30 years. Covering everything from Jazz Music to Blockchain Technology. He currently lives with his wife on Miami Beach, Fl.

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