Every trader in Forex market is not necessarily well versed with the trading concepts. To help traders gain the required information that helps them trade more effectively in forex market, here are some of the top recommended sources. These sites offer valuable information both for beginners and expert traders alike.
The resources range from technical analysis to forex charting software. Quality articles, videos, webinars, education systems, strategies etc., can be viewed. The sites also have forums that help traders to share knowledge and find new and effective trading methods. The compilation is not done according to any particular order. These sites are of immense help and aid in supplementing the forex knowledge base you already have.
Forex Factory
This site offers the most updated and current news that affects a trading session. Key indicators and news releases are depicted in a unique color coded system to illustrate the severity of the situation. The site also has a robust forum for covering the various trading aspects.
Investopedia
Investopedia provides answers to all trading queries from what is a spread to various other technicalities. The comprehensive dictionary provides clear definitions of the important terms and vocabulary in forex.
Babypips
This is just the right site for beginners. It explains all the fundamentals in an easily comprehensible training course, which is free. All details from automation and psychology to what a trader new to forex should do are explained here.
Daily FX
This site is part of the FXCM, a forex broker site. You get daily news and up to date market news including fundamental and technical analysis here. The economic calendar has all the major news including forex charts. The forum helps in discussing trade strategies with fellow traders.
Traderbase
Traderbase is part of iFOREX. It provides the latest updates on forex news, daily forex analysis, and commentary in addition to providing users with various tools of importance. The site is a key source of forex news both for professional traders and newbies. The information present helps in educating traders on the various aspects of forex, and aids them arrive at informed decisions on the daily trades.
Economic calendar present gives a detailed schedule of financial events and the announcements that are around the corner. Potential market movements can be found by traders based on the impending statements, which form a key component of forex trading strategy.
RatesFX
Since fluctuation is the only constant factor in forex, you should ensure that you are knowledgeable about the currency pairs you are trading on. This site provides data regarding currency pairs, currency conversion, and performance information. The site also has exchange rate alarm to help traders know the key signals.
Traders Laboratory
This site boasts of a splendid forex forum where traders from all around the world discuss topics that are connected to financial markets. Technical analysis, particular trading tips you require, and real time feedback from traders are some of the perks offered in this site.
Trading is a lonely venture but with the above mentioned sites, you get to converse with friends, peers, and the trading communities who trade in forex just like you. The information you gain through such sites give you the arsenal you need to harvest profits in forex.
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