I think pretty much everyone is in agreement that the best forex calendar around is probably the Forex Factory calendar. Actually, for a long while, it used to be the only calendar around amongst major fx portals/forums. Despite the initial lack of competition from other major forex sites, the FF team made sure theirs was still an excellent one at that.
Recently, we’ve seen more and more sites release their own forex calendars, with BabyPips and Forex Peace Army being amongst the most prominent. For those of you old enough to remember ForexBastards.com, it was exceedingly concentrated upon trading the news, without paying attention to any other trading methodology. It’s only until it’s transformation from the bad boy of forex websites to the “keeper of the peace”, i.e. it’s renaming from ForexBastards.com to ForexPeaceArmy.com did it actually allow, suggest or even promote anything other than trading the news (which by the way was very risky, and is even more so today).
Which is why today’s announcement is slightly surprising given that it’s introduced some new features that probably actually cater more for those hardcore group of forex news traders.
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Firstly, they’ve introduced a “bell” icon next to any news event. This means FPA will have given their own idea of what might happen during the event. Fair enough. Except FPA actually call it their “Daily Trading Signals” (and have done for years), which it’s not really. More like an overview of the history and potentiality of that particular release.
Another thing they’ve added is the 1min spike info. You can now see what the biggest ever spike was for any given release. Plus, along with the number of stars which indicate the impact of a news release, you can also view a 6 month history of it’s spikes, which they combine into what they call their “Volatility Rating”. They also show the most appropriate pair for each release, which is again – useful if you’re a spike trader, and you’re looking for the best pair to trade for any specific news release.
Overall, I do like the improvements made by the FPA team, and whilst nothing here is revolutionary, there are some neat little innovations which no other calendar has implemented. They may be useful to some more than others, but nevertheless, it’s definitely an improvement.
You can check out the features in more detail here: