The Forex Factory tool can be a great asset in helping you understand the different currency pairs and market events. It offers color-coded icons so you can view events according to their impact on the market. Red signifies a high-impact event while orange and yellow are for events that are of low impact. White means a bank holiday.
Forex Factory also offers users the ability to create trading journals. This can help help you stay consistent and help you build relationships with other traders. It’s even possible to share your journal with other users. This can be a great morale booster. The Forex Factory provides a free journal checklist for its users.
There’s also a member leaderboard to keep track of who’s making the most money each month. In addition to that, members can view a live feed of all the other members’ trades and track the top performers by month. This feature is a great way to see what your peers are doing and see if your predictions are accurate.
A Forex Factory calendar is another useful tool. It highlights the key fundamental news of the day, particularly for short-term traders. Not only can this help you decide when to trade, but it can also help you reduce risk in open positions. By viewing the calendar, you’ll be able to take advantage of the news that’s most likely to affect the currency.
Forex Factory also offers a forum that allows traders to share ideas and support each other. You can participate in the forum as a silent reader or take part in discussions. Either way, the forum is free to join. It’s a great way to learn about Forex trading. For those of you looking to become a successful online trader, Forex Factory can help.
The Forex Factory’s news section is very similar to a portfolio management account section on a Forex broker. It shows important economic news and the source. The site also displays a sentiment indicator that lets you see how many traders are long or short a particular currency pair. This can help you reduce your risks and increase your profits.
The Forex Factory website has a broker list you can view for different markets. These brokers have been reviewed by thousands of users. Look for them under the Brokers tab. The website also allows you to sort brokers. The Forex Factory broker list is updated regularly. This makes it easy to find a suitable broker for your needs.
Forex Factory also offers a Broker Comparison Tool. Use the tool to compare brokers by real-time spreads, base currency, and more. You can also compare the trading platforms, regulatory bodies, and headquarters of the brokers. This tool is an invaluable resource for traders and other people interested in the foreign exchange market.