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Francesc Riverola,
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Economic Calendar to trust?

Posted on April 25, 2008 at 12:55 in Uncategorized by Francesc

Hi everyone,

A couple of days ago we received an e-mail from one of our visitors, claiming a bad trading decision because of our Economic Calendar.

The e-mail was as follows:

Name: XXX

Message:
I use your economic calendar for making all my trading decisions, and today i was in for a rude shock your economic calendar showed the IFO Business Climate as 108 based on which i went long on the eur and when the market started falling i came back to check your calendar again and found to my horror it has been revised to 102. I always held fx street as a very reliable resource. I lost considerably on my trading account, can someone respond to this mail and tell me what went wrong, why was the news misquoted.
Thanks XXX

I wouldn’t like this to happen ever again, so I thought it would be a good idea to publish here my response to XXX

From: "Francesc Riverola"
To: "XXX"

Dear XXX

I would like to apologize in behalf of my company FXstreet.com

I’m deeply sorry that the mistake we made with the release of the IFO indicator you incurred in looses in your trading.

FXstreet’s goal is to help traders, for this reason we offer news, quotes, webinars, newsletters… and the economic calendar. We do our best to be the most accurate source on the net, but unfortunately we commit mistakes from time to time.

We will keep working to be the best source of FX information, but we always recommend our visitors to use us as a help source for decision making, and never ever use our services eyes blinded to trade. Always double check the data before taking a decision, double check FXstreet, Forex Factory, Dow Jones or Thomson… does not really matter the source… please double check.

Thanks

Francesc

2 Responses to “Economic Calendar to trust?”

on 28 Apr 2008 at 12:46 am1Mike

It is so incredibly important to double check info no matter who puts it out. A good lesson for all of us to remember. I hate this gentleman got hurt to teach us all.

Mike,

Forextoday
on 28 Apr 2008 at 10:13 am2FRiverola

Dear Mike

I agree 100% with you.

I also hate myself for being the source of this gentleman problem.
Last week I had a meeting with my content department about the EcoCal. They proudly told me that their level of accuracy was around 98/99%. One week after a guy contacts us to let us know he suffered loosses because of a mistake made on our EcoCal.

Then I realized how important this 1/2% could be!!
We are working to do be even more reliable, but again, always double check.

Francesc

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