Hi there, traders and welcome to this very short video where I'm just going to be talking you through and demonstrating the economic calendar that you find within your online FX pro account. Now you're probably thinking to yourself well, in regards to my economic calendar, I look at forex factory now yes, you do forex factory is absolutely wonderful gives you lots of information. But the calendar within your FX pro account, your online account gives you two additional pieces of information, which gives you the ability to take your trade plan to the next level and to give you a slightly higher probability of success when trading the news. So I want to make sure that you're aware of it. So you can utilize this very, very powerful feature. So let me show you well first and foremost, where do you find your economic calendar within your FX pro account, so go to FX pro codit.

UK, log in, head over to your tools tab. Then go down to your FX pro score which you should be used to by now. Now rather than clicking on live headlines. Click on calendar, because that will then bring up the economic calendar for the day that you are looking at your particular platform. So this is the third of August 2015. So it's giving me all the news events for that particular day.

Now, let me zoom in on those two additional pieces of information that you get on top of what you see on forex factory. And it's these two elements here, where it says low and high, you still get your previous you still got your expected and you still get your actual, but now it's giving you a low and a high value. What does that mean? Well, it means that now you have a full range of which analysts expect the price or the the economic event to come out out. So they expect a certain figure, but there is a lowest range and there is a highest range. Now if data comes in much higher than the top of its range, that is very, very strong.

Comes in much lower than the lowest of its range. And that is very, very weak for that particular data point. So let me bring that through in regards to an example. So let's go down and let's have a look at the economic event that's coming out a little bit later today, which is manufacturing from the US. So I need to go down and find that. So it's three o'clock today.

So here it is. It's the isn manufacturing month on month. So it's the reading for July last month. So here we have it, we have the previous 53.5 we have the high so the highest number that analysts expect 54.5. most analysts expect 53.5 and on the worst case scenario, the lowest of the range is 52. So now we not only have an idea of the expected so most analysts expect 53.5 We get the two extremities, we get the highest or the best for the dollar or the US. And the very, very worst case scenario in this particular particular example.

Now, at the time of recording this video, we are bullish on the US dollar. So what are we more focused in on we would love to see the figure come in the actual figure come in higher than the top of the range. Why is that because that's ultra bullish. If I was bearish on this particular currency, let's say for example, it was the Canadian dollar, what I'd be more focused in on is the low of the range because if it comes in much lower, that's worse for the Canadian dollar and should then see an already weak currency sell off even more. So even though I will trade if it beats the expected figure. Of course, if it comes in much higher than the top of the range, you just know that you're going to get a very strong movement from that.

So it's giving you another layer of granularity, which can give you a full range to know the extremities, that if a data point comes in either side of those extremities in line with your training plan, that you're going to get a very significant reaction because a number of you have been asking me questions going, Tom, some news events, great big reactions, some medium, and some nothing at all. Well, normally, it comes down to the news event that you're trading, we obviously want to concentrate on the top eight, the highest impact. But also if a data point, not only is it on a very high impact news event, if it comes in much higher, or much lower than the top or bottom of its range, we just know that that shock that often comes with a deviation to the expected is going to be much greater and lead to much more volatility, which should push our trade into a nice healthy profit.

So it's really just an additional feature that you can use with the data points that you're trading to give you a little bit more of an edge where you know that if data It comes in on the top side of the bottom side of a data point in line with your trading plan that gives you that little extra layer of confidence to take the trade and hold the trade. So just wanted to talk you through that. Again, as always, if you have any questions, please do let me know. But again, it's it's within your ethics program. So it's a free resource. Very, very powerful.

I believe it's coming from Reuters. So coming through a very recruitable feed. So it's an excellent tool that you can add to what you're currently already doing to give you again, another layer and a greater probability of success on each trade.