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FX Analytics: Forums - Good, Bad or Ugly?
I have recently received several emails from readers asking my opinion of the value of chat room type forums on the internet. Having monitored (and participated in several (FX as well as futures and equity oriented "boards") over the past few years I offer this opinion for what it may be worth:FWIW: the most active forum is the Global View FF (for Forex Forum which can be found here: Global View Financial Forum. In recent weeks this forum has become highly politicized and now, more than anything is a venue for a few highly opinionated "regulars" to diseminate misinformation and further their own distorted views on geopolitics. I would avoid it! It definitely has become UGLY!
A new addition to this page is MoneyTec which in addition to forums also features news, market analysis, trading opinions and lots more. It is definitely worth visiting and becoming a member. Try it using this link MoneyTec.com and I think you'll find it informative and useful.
On balance chat type forums are an amusing diversion. The downside however is what I perceive to be an enormous amount of bad information, cheerleading for one's own positions and in some cases straight out disinformation. On the positive side they do provide an means of communicating with kindred types and have in most cases a strong sense of community.
I wouldn't begin to suggest taking the effort to separate the "wheat from the chaff" in terms of what is good or bad information. I would suggest that if you choose to participate and use a forum to ask about specific positions you have or may have you find one (not several) participants whose views are intelligently and factually put. (Avoid the cheerleaders!).
Many dealing web sites also have forum pages, some interactive and some not. While I do visit some of these on balance I prefer to stay away more than not. If you have any suggestions please use the link below to email me and I will add those to my links.
I invite your comments (and criticisms) and extend an invitation to other forex market professionals and traders to submit material for this page and/or links to their web sites using the e-mail link below or on the left hand column.
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