How to Use Forex Factory Free Trading Tools — A Complete Guide
Have you heard of Forex Factory?
You probably do since it’s the leading forum for Forex traders since 2004.
But here’s the thing…
…most traders don’t take the full advantage of what Forex Factory has to offer.
All they do is to go into the forum, enter the “Trading Systems” thread, and look for new trading systems.
Then they apply the strategies for a while and when it fails, they got back to the forum and look for “the next best thing”.
And the cycle rinse repeats itself.
No wonder most traders fail because they are in the cycle of hopping from one trading strategy to the next.
Now…
Forex Factory is more than just a place to find new trading strategies. In fact, they offer useful trading tools that will improve your trading experience, and it doesn’t cost you a dime.
Do you want to know how?
Then read on because you’ll learn:
- How to use the Forex Factory calendar to stay ahead of the news and never get caught with your pants down
- How to use Forex Factory sentiment indicator and find high probability trading setups
- How to monitor your trading positions in real time (even if you’re at work)
- How to find the correct Forex trading broker
- How to set up a trading journal in Forex Factory and improve your trading results
Are you ready?
Then let’s begin…
Forex Factory calendar — stay ahead of the news and never get caught with your pants down
The Forex Factory calendar highlights key fundamental news that’s coming up.
You’re probably wondering:
“If I’m a pure technical trader, does it matter to me?”
Yes it does, especially for short-term traders.
For example:
You don’t want to enter your trades just ahead of a big news event because the spread could widen and put you at a huge disadvantage.
Or if you’re in an open position, you might want to reduce your risk exposure so you don’t get stopped out on the volatility spike.
Make sense?
Good. Now, let’s learn how to use the Forex Factory calendar to your advantage…