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FX Analytics: A Survivors Guide to Online FX Trading
| Date | Headline |
An interesting dilemna I faced in transitioning from futures to forex trading was finding good, reliable sources of information that were both worth reading and useful and either free or reasonably priced.
Most information vendors such as S&P Global Markets and Thomson Financials' IFR Markets are frankly expensive for most retail traders and have limited usefulness (to me at least) since they concentrate on delivering "analyst" opinion rather than on overall sense of markets but they can be accessed on a delayed basis without charge and can be reached for evaluation purposes by clicking on the appropriate links.
An excellent source of viewpoints and opinions as well as charts, news and commentary can be found at FX Street Another source offers several updates a day that I find required reading for my own trading activity. A second free site is Global Newsbrokers International Financial News Service which follows forex trading around the clock from Tokyo to Europe and New York and offers nine updates during the trading cycle. Neither of these news sources make trading recommendations nor are they "tip" sheets. Instead they are simply reliable sources of input on what is happening and why and in that they serve a terrific inputs into anyone's trading program in my opinion.
Finally, for now at least a word on forums. They are a great place to met and hold conversation on GENERAL FX related topics, but at the risk of offending some of my fellow traders on various forums I participate in, the value of trade suggestions, recommendations, etc. MUST be taken for what they are: one traders opinion and no more than that. Simply trading another another forum members opinion, in the long run, WILL be hazardous to your financial well being. If you dispute my opinion on this topic I suggest you recall the fate of many equity traders who played stocks touted on the massive number of chat boards. etc. that proliferated during (and probably still do exist) the late great "dot com" fiasco.
If you have similar websites you would like to add to the list please email me using the link below or on the left hand column with any contribution you might care to make.
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Paradigm All rights reserved. |