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Best 10! Why Financial Literacy is Important?

Financial Literacy
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Spread the loveWhy Financial Literacy is Important Financial literacy meaning is the knowledge and skills needed to make informed and effective decisions with all of your financial resources. Being financially literate means understanding how money works, including budgeting, saving, investing, and managing debt. Here are the key reasons why financial literacy is important: 1.Financial Literacy … Read more

7 Popular USA Government Grants

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Spread the loveIntroduction to USA Government Grants Definition of Government GrantsGovernment grants are funds provided by the federal, state, or local government to individuals, organizations, and businesses to support specific projects or activities. These grants do not need to be repaid, unlike loans.   Purpose of Government Grants Encourage economic growth. Support education and research. … Read more

100 online business Cool Ideas in USA

Online Business
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Spread the loveThe journey of online business in the USA traces back to the early days of the internet when companies like Amazon and eBay pioneered the concept of e-commerce. Since then, the landscape has undergone a dramatic transformation, with technological advancements and shifting consumer behavior reshaping the way businesses operate. Today, online business encompasses … Read more

Best 11 Auto Insurance Companies in USA

Auto Insurance
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Spread the love Finding the right auto insurance company can be crucial for protecting your vehicle and finances. In the vast landscape of insurance providers in the USA, certain companies consistently stand out for their reliability, coverage options, and customer service. In this guide, we’ll explore the top 11 auto insurance companies that have earned … Read more

Best Mortgage Rate in USA in 2024

mortagage rate
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Spread the loveBest mortgage rates (mortgage interest rates) play a crucial role in the decision of home buying which can save your money and help you make informed decisions. In this guide, we’ll break down best mortgage rates (interest rates) in the USA in simple terms, helping you navigate the process with confidence. 1. What … Read more

Best Investment – Best 20 USA Investments Ideas

Best Investment
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Spread the loveBest Investment – Investing wisely is essential for building wealth and securing financial stability. With numerous investment opportunities available, it’s crucial to understand your options being Best Investment holder and make informed decisions. In this article, we’ll explore the top 20 Best investment opportunities in the USA, offering simple explanations for Best Investment … Read more

Cryptocurrency: 4 Steps to the Heart of Digital Gold

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Spread the love Introduction Cryptocurrency ! In a world where technology is evolving faster than we can keep up, there’s one concept that’s captured the imagination and emotions of millions:  Cryptocurrency. It’s not just about numbers and algorithms; it’s about revolutionizing the way we perceive and interact with money. Join me on a heartfelt journey … Read more

Forex Factory: 7 Perfect Ways to Use Forex Factory

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– Forex Factory stands as a beacon of excellence in the world of Forex trading, offering traders a wealth of resources, tools, and community support to thrive in the competitive landscape of the financial markets. From its comprehensive economic calendar to its vibrant community forums and innovative analytics tools, Forex Factory embodies the spirit of empowerment, collaboration, and innovation that defines the modern trader. Whether you’re a novice trader taking your first steps in the world of Forex or a seasoned professional seeking to refine your skills, Forex Factory is your ultimate gateway to success in the dynamic world of currency trading. 

In the fast-paced realm of financial markets, Forex trading stands out as one of the most dynamic and rewarding arenas for investors worldwide. With its unparalleled liquidity, round-the-clock accessibility, and vast profit potential, Forex (foreign exchange) trading has garnered immense popularity among traders of all backgrounds. However, navigating this intricate landscape requires not only skill and intuition but also reliable sources of information and tools to stay ahead of the curve. Enter Forex Factory, a cornerstone platform in the realm of Forex trading, serving as a beacon of knowledge, community, and innovation for traders globally. 

Forex Factory: 7 Perfect Ways to Use Forex Factory (No.1 Will Surprise! You) 

Forex Factory is a thriving business that many forex traders use to keep up with economic events.  

It doesn’t matter if you’re doing your first trades or if you’re a seasoned professional; you need to keep an eye on news releases. Without doubt, Forex Factory’s economic calendar is by far the best option.  

However, here’s the thing: 

If you’re only visiting their website for that purpose, you’re missing out on a lot of other ways it can improve your trading. 

So below, we’re going to outline seven excellent ways you can use Forex Factory to become a better trader.  

Way No. 1: How to use Forex Factory Calendar  to Capture Big Moves in the market 

The economic calendar is a calendar that shows when there is a market news which will impact forex market  (for example, interest rate decisions, GDP, any CAPEX created in exchange of Forex etc ) are scheduled to be released. It looks like the following.

Forex Factory Calendar
Forex Factory Calendar

i. Impact Symbol (Highlighted in Blue Box in above Image)

The expected impact symbol (highlighted in blue box in above images) as detailed below that is mapped along with every event. The meaning of the impact symbol is given below.

  1. Red Impact Symbol: Higher Impact Expected which means bigger volatili in the market expected. Market can sky rocket and crash.
  2. Orange/Amber Impact Symbol: Medium Impact Expected: Where market may behave a little less volatility than that of above .
  3. Yellow Impact Symbol: Market behaves normallly smoothly without any volatility or with least volatility.

Forex Factory Impact Symbol Definition

Forex Factory Impact Symbol Definition

ii. How to use Detail Folder Icon in Forex Factory Calendar (Highlighted in Red Box in above Image)

If you can click on each folder under heading “Detail”, It will show the specific information regarding each news as highlighted in the red box, like the one exampe given below in the below picture.

Forex Factory News Calendar
Forex Factory News Calendar


If it’s the high-impact news that you need to pay the most attention. Put simply, when these are released, the forex market will get influenced by the news, with the price give a rocket move or crash. 

You should check your calendar daily morning because certain pieces of the news information may create a significant volatility in the market. you should also keep your eyes focused on these news to make the best utilisation of the volatility , so being a forex trader you should aware about these news to utilise them in favour of your trade.

For example, here’s what happened with the EUR/USD when the most recent NFP numbers were revealed  

Note: (After United States non-farm payroll (NFP) releases, that provide important info. about the US economy by reporting on the state of employment in various sectors. Forex traders should keep a close eye on these news on NFP releases as these happen to create volatility in the forex market.)

Shall we stay away from forex market during a news?

Some Trader prefer to stay away from the Market during news events and some Trader also like to Trade during the news event to take the advantage of the volatility, again that completely depends on the Trading strategy and how experience you are in trading during these volatility news days, being the prudent trader the choice is yours considering factors specified.

iii. How to update Time Zone in Forex Factory

The time of Forex Factory by default is New York time. You can update synchronizing the website with your local time, so you don’t required to do manually time zone conversions by  your own. In Order to update the time zome follow the below Steps.

Step 1: Click on time stamp on top left corner as highlighted : on “12:11” PM.

Step 2: Select your time stamp from the drop down on the red highlighted circle “(GMT-04:00) Eastern Time (US & Canada) and choose your local time zone as applicable. 

Step 3: Click on Save setting.

Forex Factory Time Zone
Forex Factory Time Zone


This is easy. 

iv. How to apply filter in Forex Factory Calendar

There is one good option available in Forex Factory Calendar to keep only the necessary currency combination for which you are interested to trade by filtering the unnecessary information from the screen.

Example : If you are a day trader  and interested to trade EUR/USD only, then you can filter EUR/USD currency combination so that you will only receive EUR/USD related news on your screen and other currency news will not be visible to you.

Forex Factory Calendar Filter
Forex Factory Calendar Filter


The below steps to be followed to apply filter in currency combination:

Step 1: Click on “filter” icon on top right corner.

Step 2: Select the appropriate currency from the “Currency” Column.

Step 3: Select the Expected Impact you wish to see on your screen from “Expected Impact ” section.

Step 4: Select the Event Type from the “Event Type” section

Step 5: After the selection complete then click one mor time on “Filter” icon on the top right side to hide your selection.

a note, The gray coloured impact icon stands for non-economic events such as daylight saving time shift or different bank holidays. 

Way No. 2: Identify Your Strengths and Weaknesses : Connect Forex Broker in Trade Explorer in Forex Factory

You will not be able to improve your trading performance unless you identify yor improvement areas , hence you need to analyze your trading performance.  

The Trade Explorer ia web-based tool where the platform that accurately records about your trades.  

How to create trade explorer in Forex Factory?

You need to connect your brokerage account where your trading data will be automatically imported. Please note that the explorer is only compatible with the MT4 and fxTrade platforms.  (Forex Factory may plans to incorporate more platform in the future.)

Step 1:

 Go to the bottom of Forex Factory Front page , click on ” Trade Explorer” as highloghted below.

Forex Factory Trade Explorer
Forex Factory Trade Explorer


Step 2:

Fill in the broker account details as highlighted below to connect the broker trading account with Forex Factory.

Forex Factory Trade Explorer
Forex Factory Trade Explorer


Step 3: You have set up everything successfully, if there is an error and you might How do I contact the Forex Factory? Then the answer is to raise a ticket to Forex Factory Support by submitting a help request.

The inputs required to fill in forex factory explorer is usually obtained from the forex broker trading accounts. for example : If you have a trading account in exness then need to log in in to  broker exness account. you will see below details.

  1. Open FX Trading Accounts in Exness Broker – Click here
  2.  Create a real account in Meta Trader 4
  3. Go to my accounts to find below details in Exness Broker.
Forex Factory

Step 4: You need to copy one by one information from exness account as shown above and fill in the forex factory trade explorer screen as shown above.

Step 5: Now you are connected with forex factory trade explorer and the exness account details will be shown in below.

Forex Factory Trade Explorer
Forex Factory Trade Explorer


you’ll be presented with something similar: 

 Step 1:  yo can click on profile section to see the Trade Explorer which has four main sections as highlighted  below in the screenshot.

How to use Trade Explorer

  1. Overview
  2. Trade Report
  3. Trade Graph
  4. Trade List 


You can click on each tab to view the respective data, or you can display all the four sections on the same page by clicking expand at the top right corner.  

 Throughout the Trade Explorer, you will spot help icons next to the important terms. Whenever you’re unsure about something, navigate your mouse over the corresponding icon for a quick explanation.  


This is the overview of all of your trades.

 2.Trade Report

here yo can extract all of your trade into hard data, here yo will be able to get a realistic picture of how you’re doing based on the trading data.

basing on this data yo will be to perfomr analysys and to recognize if you messed up something or if your trading style needs improvement.

 For example, you can see losing trade is -11.4% , This is something you should definitely work.

3.Trade Graph 

People like to see visual data, the grapg is generated on the basis of yor trading results so far.

Our brain accept qickly the process of visual information more effectively than text, but visuals are also more compelling and acceptable when it comes to financial reports.

Fortunately, the Forex Factory team understands this needs as a reslt they built the trade graph which makes it easier to understand critical aspects of your trading performance quickly. 

 It’s helpful as ecause whatever you wish to inspect, you’re able to present the right level of detail without being distracted.

4. Trade List 

A list of your open trades, closed trades, and pending orders are visible here.  

Pretty Useful. 

Way #3: Get Professional Advice for FREE Using the Forum 

You can use Forex Factory to get personalized advice from professional traders for free. We’re going to show you how.  

Step 1 : go to Forums section and choose “Trading Journals” from the directory.  

Step 2: You need to start a new thread. 

 Note : (Only full members can start new threads. If you are new to Forex Factory, you must participate a little in the community to be granted full membership access then yo will enjoy this benefits.) 

This new thread will be your public trading journal where you can publish your trades.

For this to work well, you need to do two things:  

  1. Spark an emotional connection to keep people engaged.
  2. Publish consistently. 

Let’s start with the first one.  

leaving a comment, like the post, You might get some good wishes, like this one, If you want to generate more useful engagement, like this one…you must connect with your audience on an emotional level.  

Here’s how you do it: 

  1. Use storytelling to write an engaging introduction to your journal that people can relate to. You shouldn’t share your entire life story, but talking about your goals and struggles as a trader immediately makes you more relatable.
  2. e.g Once you have a thoght something great, you need to consistently writing in your journal whic can drive engaging people and notify them to check back and engege with you. 
  3. After you keep posting for a while, you’ll get more and more responses. Some will be from professional traders; others will be from amateurs.
  4. Forex Factory has a ranking system to highlight members who have a lot of subscribers and are expected to post quality information. 

 Ideally, you should hear everybody out and pick the advice that’s most sefl for you. So don’t be reluctant to listen opinions from every members and can shortlist which one majority of member saying. 

Now, Let’s move to the next way.  

Way #4: Identify the direction of Market with the Sentiment Indicator

In Forex Trading, the professional forex traders know market direction based on their analysis so be it price action or fndamental analysis or market news accordingly they place their positions. The sentiment indicatior towards the different currency pairs is the reflection of their attitde and sentiment of market direction as highlighted in below picture.

It’s the traders psychology that makes prices go up or down.  

Forex Factory Sentiment Indicator

follow the below steps to see this.

Step1 : Click on “Trades” option on the top as highlighted in the above picture.

Step2: Scroll down towards bottom then yo will see this here.

then yo can take your position according to your strategy.

a qick TIP: To become sccessful in trading never trade based on this sentiment indicator only rather utilise this a doble confirmation along with your main strategy. 

How Accurate Is the Forex Factory Sentiment Indicator? 

There are different traders in the market with different skill sets, there’s no way to provide the overall sentiment with 100 percent accuracy.  

But in general, if a certain number of people trade through XY broker and 60% of them buy USD, then the same percentage of all traders in the entire forex market will more likely buy USD too. 

Forex Factory’s sentiment indicator collects data from various brokers instead of just one broker, which makes its more accrate on overall sentiment of market. 

Way #5: Select right Forex Brokers and get rid of scammer 

As the Forex Broker is your business partner. It is very important to select right forex broker to save yorself to fall in trap , yo have to take a prdent decision after analysing and considering every aspect of the servics that the brokers and offering.  

You can’t just randomly go to any company and whose advertisements pops p in front of you, this can scam you so be very vigilant on this decision.

The question is, how can yo find the appropriate a forex broker which yo can trust and make be part of your jorney? 

The most important thing is to pay attention to the regulation of the broking company. This information is fairly easy to get from a broker’s website, if yo have time and visiting every website if you want to compare more companies.  

That’s where Forex Factory can help you to get the information in a matter of mintes.  

They maintain a list of brokers you can compare with side by side as given below picture.

Forex Factory Broker Comparison

  1. In Forex Factory , the Only brokers that meet certain regulatory requirements are featured on the list here in the forex factory as the vast majority of fraudulent companies are automatically excluded from the list.
  2. If you’re interested, the most prestigious regulators are listed above.
  3. Yo can compare to see the information like real-time spreads to supported languages and trading conditions, there is plenty of useful information about every listed broker, so if you already haven’t, make sure you check it out following the below steps.

Step 1: Cick on “Broker” option on the top as highlighted in the above screen.

Step 2: Click on “Company Tab”, “Trading Condition Tab”, “Live Forex Spreads” and “Support Tab”, you will be able to see the comparison done by defalt by forex factory.

A lot of information about each company you will be able to see on one page. Awesome! It is quite usefull.  

Way #6: Create Your Personalized Forex News Feed 

As a forex trader, you want to keep up with the forex industry news. there are a lot of diversified news and information are spread over the internet. That the news website which related to yor trading, getting the news you want quickly is exciting.  

Fortunately, Forex Factory has the soltion to it.  

With Forex Factory, you can get in one place all of the breaking news, hot-stories, one location which can impact the forex market.  

You need to follow below steps to see the news.

Step 1: click on “News” men on the top

Step 2: Scroll down little bit downward, then yo will see the latest news in one place as highlighted below screen.

Forex Factory News

 so nice.

Way #7: Utilise Forex Factory Scanner 

Forex Factory Scanner has been designed to provide you with a quick overview of currency pairs. You can add as many currency pairs as you want, and you can view various aspects. 

Example: You can select the currency pairs for which you want to see the list of traders who are trading on your selected crrency pairs. you can easily do that by following the below steps.

Step 1: Click on “Trade” menu on the header of Forex Factory main paig.

Step 2: Click on filter as highlighted in the below screenshot

Forex Factory Scanner

You can also do chart analysis here after filtering yor prefered currency pair.  This is where the scanner tool comes into pictre to help you.

RISK DISCLAIMER: Forex trading involves a high degree of risk and is may not be suitable for all Trader. All information provided on this site is intended solely for educational purposes related to trading on financial markets and does not serve in any way as a specific investment recommendation, business recommendation, investment opportunity analysis or similar general recommendation regarding the trading of investment instruments. I am not a financial advisor , all the information provided above is for yor educational purposes only. Before taking any investment decision , you are required to conslt your financial advisor. 


Top 7 Perfect Guide to Bad Credit Credit Cards

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Spread the loveINTRODUCTION There is a beacon of hope – bad credit credit cards – in the relentless waves of uncertainty. Bad credit credit cards is the financial tools offer a lifeline to those struggling to rebuild their creditworthiness and navigate back to calmer financial waters. It’s a situation that millions of us find themselves … Read more