Do you set alerts for central bank decisions, or check them yourself?
A central bank decision is published on a fixed date, and most members know it in advance. The Bank of Canada's 28 October decision and the Federal Reserve's same-day statement were both scheduled. The Fed's next meeting, 8–9 December, is already on its calendar (FOMC calendar). Knowing the date is the easy part, and most missed trades come from missing the time.
Setting an alert is a way of acting on the date, rather than discovering the decision after prices have already moved. Some members set an alert for the time of the release, others for the statement, and a few for the first comment from the chair or governor. How to use an economic calendar explains how to find these dates, which is the first step before setting any alert.
We would like to hear your setup:
- Do you set alerts for central bank decisions, or check them yourself on the day?
- Which part of the announcement do you set the alert for: the decision, the statement or the press conference?
- What is your plan if a decision lands while you are not watching?
- Which alert tool do you use, and how often has it failed you?
Please share your own approach and reasoning, not calls for others to copy. Posts that promise a direction or sell signals will be removed.
Background: How to use an economic calendar to plan your trading week
The calendar is the trader's weekly map: which releases matter, which pairs they move, and which days to trade small or not at all. Here is a Sunday-evening routine that turns it into a plan.
Which economic releases matter most for forex?
Central bank decisions, CPI and payrolls for the dollar; the same pattern for each currency's economy. The releases that matter are the ones that reach the pairs you trade — the calendar should be filtered to them.
What do actual, forecast and previous mean on a calendar?
Forecast is what the market expects, previous is the last reading, and actual is what lands on release day. The market reacts to the difference between actual and forecast — the surprise.
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