Becoming an Expert Forex Trader by Knowing How to Use an Economic Calendar

The Forex trading industry is a highly competitive one. There are people who have been working in the field for years and still have not figured out a way to consistently predict the direction of currencies. If you are new to forex, you will want to know about an economic calendar and how to make the best use of them to make money.

Why you need them

The economic calendar is not just another calendar with dates and a list of events. It tells you:

• When important events are going to occur
• Which ones will impact forex rates the most
• When certain important announcements are going to be made

The professional forex traders use these calendars to:

• Consider various economic and political factors that will influence forex trading
• Get advanced information about the direction of a particular currency pair
• Understand current events better so they can make better forex decisions in the future

Economic calendars will not make you a millionaire with forex, but they are a valuable tool that will provide you with valuable information and insights to help you reach your goals.

Using a calendar

When you see such a calendar for the first time, you will be overwhelmed with the amount of data you have. There are literally thousands of events every week, so how do you know which ones you need to keep an eye on.

Here are a few ways to use the calendar:

• Make a list of events that are most likely to affect the forex rates of a particular country
• You can find this information from various new sources
• Eliminate those events that you think will have little impact on forex
• Check out blogs from forex experts and well-known economists to hints on which events to focus on more

Even the most seasoned forex traders cannot predict 100% which events will have the most significant impact on currency rates between two countries. However, we you get more and more experienced, you will get deeper insights into how two unrelated events can heavily influence forex rates.

Important releases

As a rule, here are some of the announcements and reports that routinely influence foreign exchange rates between the US and other countries:

• Consumer confidence index
• Consumer credit report
• Consumer price index
• Durable goods report
• Employment situation report
• Existing home sales report
• Jobless claims report
• Mutual fund flows
• Money supply

All of these are important markers of the health of the American economy. Even if the overall trend goes one way or another, you can track every report to come up with decent predictions by following them closely. You can then use the insights gained in order to invest smartly in forex and gain healthy profits.

ForexMinute is one of the best online resources for Forex traders, and we also offer some of the most useful trading tools like the best economic calendar. Please visit our website to access the best trading tools.

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The Buffett-Berkshire Way

Benjamin Graham, Buffett's mentor and the acclaimed father of value investing, said it similarly: "To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks".

There's even an echo of Albert Einstein's famous maxim in these pronouncements: "Everything should be made as simple as possible, but not simpler." There's also a common link for today's investor: Remain focused and try not to be distracted by a hyper headline-seeking media, frenzied traders, greedy speculators and rapacious "2 and 20" hedge funds. Instead, stay single-mindedly focused on building longer-term wealth in superior, personalized fashion, be prepared to give it time and watch how well you do!

Attendance at this year's Berkshire Hathaway's annual meeting was most likely down because of it being webcast worldwide in its entirety. Nevertheless, some forty thousand turning up in Omaha, Nebraska (of all places) on the last Saturday morning in April is still to be marveled at. No annual meeting anywhere continues to have such drawing power: And this time with the added potential of a billion Chinese would-be investors to whom it was being simultaneously translated in Mandarin. Just imagine the switch to value investing that this could bring in that wildly speculative market. In all, the investment wisdom and proven value approach of Warren Buffett, 85, and his worldly-wise partner, Charlie Munger, 92, being transmitted into an ever-expanding global market has to be truly exciting!

For those of us still preferring to attend in person there remained the incalculable rubbing of shoulders with investors from all over, catching up with friends old and new, and touring the massive Century Link exhibition hall with its booths and samplings of Berkshire's vast - and ever-growing - array of products and services. There was also the night-before opening cocktail party at Borsheims and a weekend during which to visit Berkshire's awe-inspiring and ever-expanding Nebraska Furniture Mart (latest with huge success in Dallas). Add the setting of a pleasing and historic mid-western U.S. city and there still can't be anything to replace the personal experiences of this amazing annual Woodstock of Capitalism.

In the final instance however, it is the five-hour question and answer session with Berkshire's ageless duo - Warren Buffett, its iconic chief executive, and Charlie Munger, his phlegmatic partner - that we aficionados keep on coming for. Their wit, wisdom and perspicacity was as riveting as ever. If Charlie Munger at age 92 could confess to having lots of ignorance left, just think of the rest of us. What a thrill, even at my stage, to be once again treated to an annual master class in investing like no other.

It there was an uplifting central message this latest time round, it was that life in America, and indeed in the market-driven world beyond, continues to be better than today's scary headlines would suggest. And hence that competitive, ably-managed companies the world over will continue to thrive and grow as superior investments.

Both Buffett and Munger are unperturbed by the political risks of what is shaping up as a visceral U.S. presidential election. Buffett reiterated his faith in a country that has done "staggeringly" well over the past 240 years, and whose real GDP per capita has risen six-fold in his lifetime! He also sees the babies being born in America today as the luckiest crop in history. Hear their reasoning and no wonder their unflagging optimism in what is still the world's premier capital as well as entrepreneurial market.

Neither do they foresee any adverse political fall-out for Berkshire Hathaway which under their stewardship has operated with resounding success for over half century as presidents and their administrations have come and gone. It was conceded that politics could temporarily bend national and corporate trends like these, but in no way could they permanently change them.

Hence, rather like the British adage about keeping calm and carrying on, they will keep on investing in exceptional companies and welcoming their owner-managers as long-term partners, of which they are doing more and more as Berkshire grows ever bigger and is increasingly driven by operating earnings. There will be failures, as they too make mistakes. But then just look at the Berkshire record since they took over a struggling New England textile manufacturer in 1965!

Average annual growth of 19-20% in Berkshire's book and market value per share are both more than double the total return on the benchmark S&P 500 over this same period. While they've also had under performing and occasionally negative years, there could hardly be a simpler, more hands-off or proven way to build value and with it superior investment wealth over time. A record like no other is there for all to see!

Pleasingly, theirs is an approach I've successfully patterned my distinctive Canadian Equity and Dividend 6-Paks on - investing in, and growing and staying with, great world-class Canadian companies through thick and thin.

Since their launch in 2004-05, my Canadian Equity 6-Pak has more than doubled in value and the Canadian Dividend 6-Pak is up over 3 times. Both were set back in the market collapses of 2008 and 2015, the Dividend 6-Pak less so because of its underlying income protection. Berkshire's per share market value was similarly impacted in each of these years. However, this year each are back on track - Berkshire up by 7.4% year-to-date, the Canadian Equity and Dividend 6-Paks returning 11.9% and 17.7% respectively at latest count. And in the case of my 6-Paks now even more so in a transitioning and excitingly investable "new" Canada.

In the final instance, Messrs. Buffett and Munger wouldn't keep drawing record attendances and an ever-growing worldwide following without that most indispensable ingredient of all - trust. The wealth they've made for tens of thousands of investors, large and small, is why so many of us keep being drawn annually to Omaha, also never forgetting the trust that goes hand in hand with their exceptional record.

All of which begs the question as to what will happen to Berkshire Hathaway and its loyal investor following once its illustrious and trusted leaders are gone? Buffett's answer to this growing (and speculated upon) question is similar to his reply on the impact of the upcoming U.S. presidential election; namely, that there shouldn't be any need for concern given what has been accomplished and the outstanding management Berkshire has in place within its group.

Similarly, Berkshire's share of the earnings in its Big Four investments is only recorded to the extent of dividends received. Adjust for more realistic valuations of subsidiary and portfolio investments like these, and what a difference it makes.

For good reason Buffett repeatedly points to Berkshire's intrinsic values as much the better criterion. While this metric is by definition subjective (the annual report gives pointers on estimating it), there is no doubt Berkshire's intrinsic value significantly exceeds its current market value. The mechanism put in place to buy back shares should they fall to 120% of book value adds further to this sense of comfort. Together, a substantial hidden value above and a protective cushion below comprise a fail-safe, if not unique, investment combination.

Despite the question marks over succession, I have every confidence that the simple partnership approach and trusting wealth-creating culture instilled by its indomitable champions will live on in the Berkshire of the future - in the process continuing to bring its investors and shareholders superior growth and accumulating wealth in an investment treasure chest like no other!

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Online Bitcoin Trading: Discover The Keys To Earning A Formidable Income Trading Bitcoin

Step 1 - Do Your Research

Bitcoin is a peer-to-peer payment system, otherwise known as electronic money or virtual currency. It offers a twenty-first century alternative to brick and mortar banking. Exchanges are made via "e wallet software". The bitcoin has actually subverted the traditional banking system, while operating outside of government regulations.

Bitcoin uses state-of-the-art cryptography, can be issued in any fractional denomination, and has a decentralized distribution system, is in high demand globally and offers several distinct advantages over other currencies such as the US dollar. For one, it can never be garnished or frozen by the bank(s) or a government agency.

Back in 2009, when the bitcoin was worth just ten cents per coin, you would have turned a thousand dollars into millions, if you waited just eight years. The number of bitcoins available to be purchased is limited to 21,000,000. At the time that this article was written, the total bitcoins in circulation was 16,275,288, which means that the percentage of total bitcoins "mined" was 77.5%. at that time. The current value of one bitcoin, at the time that this article was written, was $1,214.70 USD.

According to Bill Gates, "Bit coin is exciting and better than currency". Bitcoin is a de-centralized form of currency. There is no longer any need to have a "trusted, third-party" involved with any transactions. By taking the banks out of the equation, you are also eliminating the lion's share of each transaction fee. In addition, the amount of time required to move money from point A to point B, is reduced formidably.

The largest transaction to ever take place using bitcoin is one hundred and fifty million dollars. This transaction took place in seconds with minimal fee's. In order to transfer large sums of money using a "trusted third-party", it would take days and cost hundreds if not thousands of dollars. This explains why the banks are violently opposed to people buying, selling, trading, transferring and spending bitcoins.

Only.003% of the worlds (250,000) population is estimated to hold at least one bitcoin. And only 24% of the population know what it is.

Step 2 - Set Up Your E-Wallet

In order for you to transfer your bitcoin to a friend of family member, you and they must both have an e wallet. If you would like to use a bitcoin ATM, you will also need to have an e wallet, in order to withdraw any money from your account. And finally, to facilitate the transfer of your funds to and from a trading platform you will need to do it via an e wallet.

To set up an e wallet, there are a myriad of company's online that offer safe, secure, free and turn-key e-wallet solutions. A simple Google search will help you find the right wallet for you, depending upon what your needs are exactly. Many people get started using a "blockchain" account. This is free to set up and very secure. You have the option of setting up a three-tier login protocol, to further enhance the safety and security, in relation to your e wallet account.

Step 3 - Purchase Some Bitcoin

To buy any amount of bitcoin, you are required to deal with a digital currency broker. As with any currency broker, you will have to pay the broker a fee, when you purchase your bitcoin.

There are a myriad of bitcoin brokers online. A simple Google search will allow you to easily source out the best one for you. It is always a good idea to compare their rates prior to proceeding with a purchase. You should also confirm the rate of a bitcoin online, prior to making a purchase through a broker, as the rate does tend to fluctuate frequently.

Step 4 - Trade Your Bitcoin Online And Earn A Steady Passive Income

Finding a reputable bitcoin trading company that offers a high return on your investment is paramount to your online success. You must ensure that your chosen trading company is fully automated & integrated with blockchain, from receipt to payment.

To use conventional banking as an analogy, the blockchain is like a full history of banking transactions. Bitcoin transactions are entered chronologically in a blockchain just the way bank transactions are. Blocks, meanwhile, are like individual bank statements. In other words, blockchain is a public ledger of all Bitcoin transactions that have ever been executed. It is constantly growing as 'completed' blocks are added to it with a new set of recordings.

Your ROI should also be upwards of 2%+ per day because the trading company that you are lending your bitcoin to, is most likely earning upwards of 10%+ per day, on average. Your ROI must also be automatically transferred into your "e-wallet" at regular intervals, throughout your contract term. There are a few different reputable trading platforms out there. All of them offer distinct advantages and disadvantages. For an example, there are company's that will pay out as much as 10% per day with no contracts whatsoever. You can also find company's that will give you a 3.33% per day return on your bitcoin, on a sixty day contract. There 90 day contracts which pay out 2.2% per day, however, they offer commissions from referrals that join using your affiliate link. Personally, I believe it is best to spread the risk across all three of the aforementioned platforms.

With online bitcoin trading, it is not unheard of to double your digital currency within ninety days or less. That means that investors are consistently earning 2.2% per day, or more. One of the aforementioned platforms will double your bitcoin in ten days because they are paying out 10% per day with no contract. I always advise my clients to start out small. Never put all of your eggs into one basket. Once you have familiarized yourself with the first of three platforms, you should set up the second account, learn it and finally get your third account up and running. Most people start with earning 2.2%, then move up to 3.3% and finally to the 10% per day platform.

If you are required to conduct tedious activities such as logging into your account, sending e mails, clicking on links etc, you definitely need to keep searching for a suitable trading company that offers a set-it-and-forget-it type of platform, as they absolutely exist.

Bitcoin trading company's will automatically transfer your profit into your "e- wallet" as long as you provide them with your personal e wallet address. If you are on a 90 day contract, you will be paid out in 90 days. The 60 day contracts will pay you out in 60 days. And with the 10% per day platform, you are able to pull out your interest and principle any time, should you choose to exercise that option.

In order to withdraw money in your local currency, from your e wallet, you are required to locate a bitcoin ATm, which can often be found in local businesses within most major cities. Bitcoin ATM's can be located by doing a simple Google search.

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