Economic calendar: how to read it and use it to trade

The economic calendar is an under-used preparation tool. Read properly, it keeps you from being surprised; used badly, it becomes a machine for losing money.

The columns to understand

• Impact: usually colour-coded (low, medium, high). Focus first on the high-impact events.
• Consensus (forecast): what the market expects. This is the reference point.
• Previous: the value of the last release.
• Actual: the published value, known at the moment of the release.

Market movement comes mostly from the gap between actual and consensus.

How to use it concretely

1. Every morning, spot the day's high-impact events (see morning routine).
2. Decide in advance how you will behave: reduce size, close sensitive positions, or don't trade around the release.
3. Don't open a new position right before a major release: the spread widens and slippage becomes unpredictable.

The classic mistake

Many traders "play" the release, hoping for a big move in their direction. That is a bet, not trading. It is one of the causes of failure we list for prop firm challenges.

The full macro context

To understand why these releases move markets, read our pillar on macroeconomics and trading. Altiora embeds an economic calendar directly in your workspace — try it free.