The Economic Calendar widget covers economic events and releases that affect financial markets. Extended filters are available (e.g. by date, country, currency, event and level of impact). Brought to you by The Lucky Club
National Holidays Calendar
The National Holidays Calendar widget informs traders about national holidays across different countries.
Central Bank Rates
The Central Bank Rates widget shows current central bank interest rates, changes in interest rates and date of the last change.
Note for Traders
Check your economic calendar each morning, before you start trading, and jot down the times of the major data releases.
Under normal market conditions, you should know what your risk on every single trade is. The risk on each trade–where risk is the difference between your entry price and stop loss price, multiplied by the position size–should be less than 2% of account equity, and ideally 1% or less.
Assuming you are trading a stock (or other market) with a tight bid/ask spread and significant liquidity (enough shares or contracts) at each price level to absorb your orders, typically your stop loss order will get you out of the trade at the price you expect. When a high impact data release come out, though, things can drastically change. You face a very high chance of slippage, which is when you get a worse price than expected on an order. What was supposed to be only a 1% risk trade could end up resulting in a 5% loss or more, just as an example.
Because of this unpredictability–we don’t know what data will be revealed, or how many orders will come into the market upon its release in a reduced liquidity environment–pro day traders typically close out their forex, stock or futures positions three to five minutes before high impact data is released.