Importance of the Economic Calendar
Jonathan and Rory talk though the importance the economic calendar for all traders. A lot of traders believe that certain data doesn’t move the markets enough and that they should ignore it. But using this information to your advantage can give you a trading edge.
The economic Calendar provides real-time updates on economic news and trends, allowing individuals to make more informed investment decisions.
This information gives you a macro outlook, allowing you to a receive an insight into key data such as GDP, Inflation, Unemployment, international relations & political changes.
During the episode, Rory & Jonathan share how they use the data not just for volatility trading but to confirm or deny pre-existing biases we may have. For example, if you think the economy is struggling and the PMI report is growing each time, the market might not move but maybe you should change your bias? It’s about using the data in your favour to add further confirmations which will in turn help your consistency.
The Blokes then discuss the PCE index, which is released next week, what it means and the importance of it to traders. Rory mentions how the PCE is the Fed’s preferred method to gauge inflation along with describing exactly how it’s calculated.
If you really want to improve your trading, then you need to use all the resources at your disposal to build a bias whether that bullish or bearish.
Listen now to find out more!
The blokes share their market analysis & trade ideas on the Two Blokes Trading APP everyday, so don’t miss out!
Jonathan Farrelly – Host
Jonathan started his trading journey over 15 years ago, learning from some of the best institutional traders in the world. Over the last 9 years Jonathan has taught 1000’s of retail traders how to successfully navigate the financial markets.
He has evolved Two Blokes Trading with new technologies to offer traders a new fully immersive experience.
Jonathan’s ethos has always been based on transparency with the goal to help new & experienced traders achieve their goals.
Rory McMullan- Host
Rory is a final year student studying Accounting and Finance in London, He started his trading journey over 2 years ago but has came quite far in the process. He traded most asset classes starting with FX and Commodity trading, trading crack calendar spreads within the energy market to now running his own Long/Short equity options portfolio. The book that he trades is a systematic, top-down bottom up equity portfolio.
Rory has a strong passion for the financial markets and really hopes he is able to be of assistance to anyone either starting their trading journey or looking to further their knowledge.