The Forex Factory Calendar is by far the most user-friendly and accurate calendar to keep track of Forex-related news events. By the end of this tutorial, you will know how to use the calendar as well as how to read it

But before we get into the details, I want to dispel a common misconception.

Many technical traders make the mistake of thinking that, because they take a technical approach to the market, they dont have to pay attention to news events.

Free PDF Guide:Want to learn how to use the Forex Factory news calendar in 5 simple steps?Click here to download the exclusive PDF guide.

While it isnt necessary to study the news, it is advantageous to know when news is expected. This is especially true for heavy-hitting news that can adversely affect the market. Not only can this type of news affect an open position, it can cause slippage and gaps that can wreakhavoc for pending orders.

Heres how you can use a Forex news calendar to start making more informed trading decisions.

The very first thing you want to do is navigate to theForex Factory calendar.

Once there, you should be presented with a screen similar to the one below.

Dont be intimidated by all of the activityon this page. It will all make sense by the end of the tutorial.

Next we will begin configuring the calendarso that you can get the most out of it.

Now that youre on the calendar tab, you will want to set your time zone. To do this, simply click the time in the upper right hand corner.

After clicking the time stamp, you will be taken to a page where you can set your time zone. This will synchronize the time for each news event with your local time.

Note: Setting the correct time zone is extremely important. If not set, itwill be difficult to determinethe correct time for each news event.

At this point youalso have the option to turn Daylight Savings Time (DST) on or off. Lastly you can toggle the time format to show either am/pm or 24 hour military time.

Once you are happy with the settings, click Save Settings so that you wont be required to do this each time. As long as your browsers cache is not cleared, your settings will remain the same each time you revisit this page.

After saving your settings, youshould now see the correct time displayed in the upper right hand corner of the screen. If not, repeat step 2 to make sure your settings were saved properly.

At this point you should have the Forex Factory calendar in front of you with each news event synchronized with your local time.Next we aregoing to set the event filter to determine the type of news and currenciesto display.

This is convenient if you only want to display certaintypesof news events or are only interested in specificcurrency pairs.

To set the filter, click the Filter icon in the upper right hand corner while on the calendar tab.

After clicking Filter, you will get a screen like the one below. This screen gives you the ability to filter events by expected impact, event type as well as currency.

Pro Tip:Hover your mouse over the colored boxes under Expected Impact to get an explanation of each one. In short, red equals high-impact, orange is medium-impact and yellow represents low-impact news.

I personally like to focus on the medium and high-impact news events. This gives me a complete picture of what to expect over the coming days without cluttering the calendar with news that will have little impact on the markets.

Once you have everything set the way you want, click Apply Filter to begin showing only the events and currencies you selected. You can change this any time by repeating this step.

You should now have your time zone set and your filter configured the way you want. Now its time to select the desired time frame.This is the span of time that will be shown on the calendar.

The navigation paneyou seebelow will allow you to set any time frame you desire.

From this window, you can choose a single day, aweek or even the entire month. Also note that you can quickly selectpredetermined time frames in the bottomhalf of the navigation pane.

Pro Tip:Choosing to see the entire week is often the best approach when trading the higher time frames. This allows you to prepare for the next few days rather than just the next 24 hours.

In addition to seeing the surface content such as the event name, expected impact and scheduled time, you can also expand each event to see additional information.

Be sure to use this feature with caution. It can be far too easy to get caught up in the nuances of each event. As price action traders we need to bemore concerned aboutwhats happening on the chart and less concerned about the fundamental significance of news.

The image below illustrates how you can expand the details of a given news event.

Once the icon above is clicked, you will immediately see additional details of the event.

From the screen above, you can see additional detailssuch as the source, frequency and history of the event to name a few. To close this window, simply click the X shown in the image above.

Before we move on, I want to reiterate how important it is to use these additional detailssparingly, if at all. The real advantage to using a calendar as a technical trader lies in the scheduled time and expected impact of the news. Anything more than that and using a news calendar can become more of a distraction than an asset.

That concludes the process of setting up the Forex Factory news calendar. Now lets get into the second half of this tutorial and discuss how to use what youve just learnedto your advantage when trading Forex price action.

Knowing how to set up the Forex Factory calendar is one thing, knowing how to use it properlyis quite another. The first thing to understand is that you only want to focus on themarket-moving events.

This means setting the filter to include only the medium and high-impact news events. By doing this,you dont have to sift through the low-impact news to find the events that are likely to cause increased volatility.

Pro Tip:Below is a list of some of the major news events you shouldkeep an eye on as you trade the Forex market.

Before moving on, lets recap what you have learnedthus far.

By now you should have the time zone, filter and time frame set for your calendar. You should know how to view additional details of a news event as well as which events are most likely to cause an increase in volatility.

Next we will get intohow to strategically position your trades around major news events so as to minimize your risk.

The reason we want to use the Forex Factory calendar is to know when market-moving news is expected and thereby avoid or prepare for periods of high volatility.

As such, I want to run through a few basic rules when it comes to trading around the news. All of the scenariosbelow assume that the news event in question would hypothetically impact your trade. For example, trading USDJPY with Nonfarm Payrolls (NFPs) on tap.

This is obviously the safest place to be with major news around the corner. You have nothing at risk and you get to objectively analyze the price action that forms as a result of the news.

But what if the news isnt just around the corner? How much time is needed between putting on a new position and a scheduled news event that could adversely affect that position?

This is a hard question to answeras it depends on a few factors.

Trading style and risk tolerancecome to mind. Every trader is different and therefore has different requirements when it comes to how risk averse they are.

On average, a trade on the 4 hour chart will require less time between the entry and the pending news than a trade on the daily time frame. This is because, hypothetically speaking, a trade on the 4 hour chart has a greater chance of running to profit before the news event occurs.

Aside from the time frame, the distance from the entry to the take profit also plays a role. A trade with a 50 pip profit targetwill require less time than a trade with a 300 pip target, hypothetically speaking of course.

As a general rule, I like to see at leasta 24 hour window in which there is no scheduled (major) news before putting on a trade. By major Im referring to one of the events listed above. This of course can change depending on the last two factors listed above.

This scenario involves an open position that is in profit, but stands a good chance of turning negative if the news event in question adversely affects the position.

Weve all been there that point of indecision before a major news event is about to hit.

Should you close the trade and book a small profit to be safe? But then what if the market moves in favor of your position? If you close it now you risk missing out on potential profits.

In my experience, most traders fear a missed opportunity more than they fear losing capital.

Your number one job as a trader is capital preservation. Making money always comes second. The path I choose 95% of the time in this situation is to take my small profit and get out. I can always get back in later if the market presents a favorable opportunity.

The last scenariowere going to discuss is the second safest place to be behind having no open position, of course.

When a high impact news event is around the corner and you have a position that is well into profit, you have more options. Its much easier to ride out a majornews event if you know your position is 200 pips in the money.

One thing that can influence your decision here is how far away your trade is from its profit target. Lets assume this position was originally aiming for a 300 pip profit targetand is now just 40 pips from the target. In this case I would be more likely to close the trade before the news event to book profits. To risk giving back 260 pips for an additional 40 pips isnt the greatest of propositions.

Your other options are to take a partial profit and leave the remaining position on or keep the entire position open throughout the event. Im not a huge fan of taking partial profits so I usuallyopt to go all or nothing. But one thing is certain, you have a lot more options with a position that has run into considerable profit.

Now its time to bring it all together. By now you should know how to configure your Forex Factory calendar as well as how to manage news events. Lets finish up this tutorial by discussing how price action plays a role in all of this.

I have written before abouthow to use the news to gauge market sentiment. However this time I want to talk about actually reading the news through theprice action strategiesthat form on your chart.

What is a pin bar, really? How about an inside bar? You probably knowwhat they look like, but have you ever thought aboutwhythey form?

These two strategieshave a common thread they are both the byproduct of news. Whether it be something that was just announced or a more gradual flow of news that causes market sentiment to either fluctuate or remain constant.

In fact, all Forex trading strategies are a byproduct of news in one way or another.

However, the pin bar and inside bar really embody the essence of how news can influence a market.

Pro Tip:Stick to the higher time frames (4 hour and daily) in order to get a better feel for the impact of a major news event. This will help to eliminate the whipsaw effect that is common on the lower time frames.

Some of the bestpin barsform on the back of a major news event. In fact one of my favorite setups is the NFP pin bar. This is because NFPs are released at 8:30 am EST andthe 4 hour candle on my New York close chart closes at 9am EST, giving the market thirty minutes to react.

The timing of a news event like this can often cause the price for US Dollar pairs to rise or fall quickly, thus forming a 4 hour pin bar. Of course it isnt always the case, but when an NFP pin bar forms at a key level, its often worth taking.

Theinside barcan be thought of as the opposite to the pin bar. While the pin bar represents a volatile push in either direction, the inside bar represents consolidation after a large move.

So whereas the pin bar formsasnews is released, the inside bar often forms the dayaftera news release.This is why the inside bar setup is often referred to as a type of breakout strategy.

Pro Tip:While the pin bar can be traded on the daily or 4 hour time frame, the inside bar is best traded only on the daily time frame.

Before we end this section, I would like to point out that the news which causes these types of moves isnt always immediately apparent. The markets can move because ofan unscheduled event or perhaps an event that has already passed and the market is just now realizing the impact. Regardless of how or when the news occurs, the two strategies above give you a quick and easy way to read the news via your charts.

We have covered a lot of material in this tutorial. Everything from how to configure the Forex Factory calendar to how to use it when trading price action. As such I would like to summarize some of the more important points to keep in mind when using the news calendar.

First and foremost, the news calendar should never be used as a tool to help youenterthe market. In other words, attempting to trade a news event for the volatility it causes is a surefire way to blow up a trading account.

The calendar can, however, be a great way to keep track of upcoming events. Knowing when these events are scheduledcan help you make decisions aboutthe timing of your entries. Its also helpful if you have an open position as it gives you the opportunity to book profits before a potential increase in volatility.

As a price action trader, you have a distinct advantage over other market participants using something other than price action. You have the ability to read the news through your charts using strategies such as the pin bar and inside bar. Just remember to stick to the daily and 4 hour time frames with the exception of the inside bar, which should only be traded on the daily time frame.

The Forex news calendar is a vital tool for any serious trader. It shows the scheduled news events for the week and usually ranks them from low to high impact.

I prefer the Forex Factory news calendar. Its incredibly easy to use and is one of the more accurate calendars out there. Plus, you can enter your timezone so events are displayed in your local time.

In my opinion, the answer is a resounding no! Trading the news is gambling. Ive found it far more useful to study the price action that follows a news event than trying to guess.

Are you ready to start using the Forex Factory news calendar?

If so, you definitely want to download thefreePDF guide that I just created.

It breaks down how to use the calendar in 5 simple steps and explains which news events produce the most volatility.

Click the link below and enter your email to get instant access to the PDF guide.

Save my name, email, and website in this browser for the next time I comment.

Brilliant course, really helps to understand trading a lot better. Just one question, Is it neccessary to know the results/outcome of the news events or is it just good enough to know that particular event is happening

Save my name, email, and website in this browser for the next time I comment.

Thanks for your comment. Im glad you enjoyed the lesson.

I wrote a separate lesson regarding how to use the news to gauge market sentiment. For the most part though I dont care too much about the outcome of the event, I just want to know when its happening.

Save my name, email, and website in this browser for the next time I comment.

Im glad to join to your website as reader! Its very useful article and probably one of the best site about Price Action in my opinion 🙂 Cheers! 🙂

Save my name, email, and website in this browser for the next time I comment.

Im glad you found the tutorial useful and are enjoying the site. Thank you for the kind words. 🙂

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Great to hear. That was the intent to make it a how to on configuring the calendar as well as a how to on managing open positions.

Save my name, email, and website in this browser for the next time I comment.

I have been using Forex Factory Calendar for several months now, but your article has given me lots of tips and insights how to use it more productively.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Mashudu, youre very welcome. Let me know if you have any questions.

Save my name, email, and website in this browser for the next time I comment.

very much informatic and useful for new traders

Save my name, email, and website in this browser for the next time I comment.

Glad to hear it, Afzal. Let me know if you have any questions.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Thanks, Gbenga. Happy to know you enjoyed the content.

Save my name, email, and website in this browser for the next time I comment.

This was wonderful insight thank you very much!

Save my name, email, and website in this browser for the next time I comment.

Youre welcome, Kevin. Feel free to reach out with any questions. Cheers.

Save my name, email, and website in this browser for the next time I comment.

Hi Justin, came across this accidentally, but so glad I did.Very informative and will certainly help me a lot in the future.Have been a FF subscriber for some years, and have never really tried to look at it in depth, ie past the main items I was interested in using.Thanks again Justin, keep up the good work please?

Save my name, email, and website in this browser for the next time I comment.

Thats great to hear, Frank. Feel free to reach out if you have any questions.

Save my name, email, and website in this browser for the next time I comment.

justine you are too much am looking forward to when i will meet you in person wishing you more grace to your elbow

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

I want to registry and be a member of Forex Factory.

However I cannot do so because it kept asking me for my human verification.

I cannot see any wording on the human verification box and

was not able to proceed with the registration.

Save my name, email, and website in this browser for the next time I comment.

Youll need to reach out to their support staff for help.

Save my name, email, and website in this browser for the next time I comment.

I tried but they still required human verification to contact them.

Save my name, email, and website in this browser for the next time I comment.

What exactly yout mean by a key level,is that oversold point or overbought point?NFP PIN BAR

Save my name, email, and website in this browser for the next time I comment.

A key level is either support or resistance. It can be horizontal or a trend line.

Save my name, email, and website in this browser for the next time I comment.

I just realised i v e been getting some crucial thing about trading so wrong after reading through your site. this site is really the bomb for newbies like myself, the terms and description are so straight to the point and expressed in the simplest form any one who reads and understand English can trade straightaway.. thanks man for this piece. i ll sure do something with it.

Save my name, email, and website in this browser for the next time I comment.

Youre very welcome. Glad to hear youre enjoying the material and thanks for the feedback.

Save my name, email, and website in this browser for the next time I comment.

thats good enough to learn, how to tread in forex market.thanks lot.

Save my name, email, and website in this browser for the next time I comment.

Thats good enough to go through the f.c.market.So,it is very useful lesson .thanks for you.

Save my name, email, and website in this browser for the next time I comment.

Thats good enough to go through the F.C.market.It will help me more time.

Save my name, email, and website in this browser for the next time I comment.

Justin, your lessons are amazing and you dont get bored learning Forex, anyway i have a question on setting a time zone, am from Africa (Middle-east), and when i was selecting the time zone on a calendar it could not display a country or city that i am, in that case what should i do to set the time zone right so as to receive the news with my local time?????

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Thanks Justin, but do you recommend the use of trailing stop.

Save my name, email, and website in this browser for the next time I comment.

Such an eye opener, brief, simple and straight to the point. Thank you so much

Save my name, email, and website in this browser for the next time I comment.

Great tutorial,very helpful in understanding the importance of news events while trading .like it very much. thanks

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

The lesson was quite revealing to a newbie that I am. Warm regards

Save my name, email, and website in this browser for the next time I comment.

Sounds interesting and would love to see how it can change my trading style

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

I have been using forex factory for a while but i never really understood it up until now, thanks a million . But i have a question is it just the news that u mentioned that we should only watch out for?

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

thanks sir, i have learn something new about the candle stick call the inside bar and pin bar, you though that the pin bar form beside the new and the inside bar form after the new is releasei think its a very good information to help me make my decision in trading

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

I have come across the Forex Factory Calendar many times but have not fully understood the real essence of its application. This is a very informative course and adds as an essential part of my trading education. This is really remarkable and I am very grateful to you for the enlightenment I have gained from it. Thank you very much Justin!

Save my name, email, and website in this browser for the next time I comment.

This is the best website I ever have, how I wish I come across with this site before loosing my investment.

But I know one day I willl still get money to invest again , I will never give up

Question, , what and what do I need to analyze the market direction

Save my name, email, and website in this browser for the next time I comment.

For the past 2 weeks I hv been unable to access the Forexfactory web. Would you have any reason for this??

Save my name, email, and website in this browser for the next time I comment.

you treat very good i get you for100% @dailypriceaction

Save my name, email, and website in this browser for the next time I comment.

excellent piece of work you have put together here. Really helpful

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

very useful information for my toolboxthank you Justin

Save my name, email, and website in this browser for the next time I comment.

This is really helpful, am happy to come across this article great job.

Save my name, email, and website in this browser for the next time I comment.

Great work and interesting write-up.l find it helpful and useful, wonderful I love it .

Save my name, email, and website in this browser for the next time I comment.

Save my name, email, and website in this browser for the next time I comment.

One to two messages daily. Unsubscribe any time. See ourprivacy policy.

Justin Bennett is an internationally recognized Forex trader with 10+ years of experience. Hes been interviewed by Stocks & Commodities Magazine as a featured trader for the month and is mentioned weekly by Forex Factory next to publications from CNN and Bloomberg. Justin created Daily Price Action in 2014 and has since grown the monthly readership to over 100,000 Forex traders and has personally mentored more than 3,000 students.Read more…

Disclaimer: Any Advice or information on this website is General Advice Only – It does not take into account your personal circumstances, please do not trade or invest based solely on this information. By Viewing any material or using the information within this site you agree that this is general education material and you will not hold any person or entity responsible for loss or damages resulting from the content or general advice provided here by Daily Price Action, its employees, directors or fellow members. Futures, options, and spot currency trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Dont trade with money you cant afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures, spot forex, cfds, options or other financial products. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed in any material on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.

High Risk Warning: Forex, Futures, and Options trading has large potential rewards, but also large potential risks. The high degree of leverage can work against you as well as for you. You must be aware of the risks of investing in forex, futures, and options and be willing to accept them in order to trade in these markets. Forex trading involves substantial risk of loss and is not suitable for all investors. Please do not trade with borrowed money or money you cannot afford to lose. Any opinions, news, research, analysis, prices, or other information contained on this website is provided as general market commentary and does not constitute investment advice. We will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from the use of or reliance on such information. Please remember that the past performance of any trading system or methodology is not necessarily indicative of future results.

Easily save as a PDF or print for daily use