Getting started in forex will, put plain and simply, make your head spin. There is alot of garbage out there, and even more dead ends than there are culdesacs in suburbs. I won’t begin to tell you which broker to choose because that is another post for another time.
Getting started in forex will, put plain and simply, make your head spin. There is alot of garbage out there, and even more dead ends than there are culdesacs in suburbs. I won’t begin to tell you which broker to choose because that is another post for another time. But I can point you in the right direction to online resources that I have stumbled upon during my countless hours of forex research. I can’t emphasize the word research enough to the new trader interested in forex. The following sites have proven priceless resources on my journey.
1. Forex Factory
There is one website that I go to every single day for my forex news and economic calendar that I can always trust to be accurate and timely. Forex Factory has the most comprehensive forums, with great traders who can get you pointed in the right direction. The forums include everything from trading systems to programming lessons and files for the Metatrader platform. Many well respected traders unselfishly post their trading systems and back them up with lessons as to why they make the trades they do. Easily and A+ on my grading scale. Another forex forum that gets an honorable mention from me is Money Tec.
2. Fresh Pips
Fresh Pips is a site where readers can submit forex news stories that they like, and they gain recognition through a voting system. Too many articles to read, but I love it because I discover new sites all of the that I would have never found. It’s like a news aggregator just for forex. They also run the site Baby Pips which is ground zero for new traders who want to get into the game. Baby Pips presents forex in a fun, very easy to understand manner.
Tip’d is a brand new player in the financial world, and is essentially the exact same site as Fresh Pips but includes other financial categories like commodities, stocks, real estate, currencies, etc. There is a voting system, and you can see at the top left of all of my posts that I am submitting to the site and searching for you vote (hint hint!).
4. FX Street and Daily FX
I bundled FX Street and Daily FX together because they are both great news sites. These are the best of the best, with the world’s top analysts writing for them. Very up to date, and very helpful for the new trader who has no idea as to why the market just moved 100 pips after a news release.
5. Forex Peace Army
I have to mention Forex Peace Army because their hate for forex fraud is just as strong as mine. When your slogan is Scammers pray that you don’t join us today, then you’re alright with me. This site will help you with scam recovery absolutely free. They are the police of the forex world. This site also has an extensive repertoire of forums, and they also provide a free daily forex signal from Sir Pipsalot that is based on trading around news releases.
These are the sites that I recommend visiting if you want to become serious about trading forex. I read more books and websites than I can remember. I also had the discipline to paper trader for over 5 years before jumping into the market. Therefore, I feel I should pass on my experiences to save you time and effort, and maybe this will streamline your effort towards taiming this exciting game. Make sure to sign up for my RSS feed for daily updates. Cheers.