Top 100 Forex Resources
Post on: 11 Май, 2015 No Comment
Beginners Paradise
If youre a forex newbie, the following sites will help you get a grip on the similarities and differences between forex trading and stock exchange trading. Take advantage of free resources before you dedicate any serious cha-ching to training.
- Tipd: Investing and Finance Social Media / News — Get the latest forex, commodities, and market news from the largest investing social media site.
- Currency College
— Currency College delivers a variety of course offerings with classes that are held at the student’s convenience. Each class is followed by homework and tests; each course lasts about six weeks; and each class contains about ten students. Emphasis is given to risk management. This is not free education, but if you bring referrals to Currency College you could earn a scholarship toward your tuition. This site has plenty of free resources, however, like a comparative chart for various trading platforms so you can make an educated choice about trading platforms.
Possibly the most comprehensive and thorough forex education online. Learn about everything from currency codes to exotic trading strategies through articles, graphics, and concise examples.
— Fairly comprehensive training with a free demo account. The highlight to this site is their explanations about various charts .
— Focus on the information about technical analysis. where you can learn more about Fibonacci Trading, Pivot Points, and more. Their Forex Facts also contain some valuable information.
— Joe Ross offers advice for traders across the board, but the information contained in his Law of Charts offer speaks to forex as well as any other trading strategy. He identifies chart patterns that result from human behaviors and points to entry and exit targets on those charts. You can take advantage of Rosss other tools as well, including the forum .
Blogs & News
The following list provides a variety of news from both professional and single-investor resources.
— The name of the blog ought to warn you. This blog contains a different perspective on trading, with an emphasis on trading psychology. Some great trading tips.
— Not updated daily, but plenty of resources in historical entries. The focus is on currency, but you can find plenty of reviews and tips here as well.
This is Rob Bookers blog on forex. Hes a currency trader and trainer and hes been at this blog for two years, so youll find some interesting history here.
Charts
You cant trade without charts, but the chart that you use is a matter of personal preference. The list below provides a nice pool to pick from:
— From simple to Premium to System Trading, simply the best choice of charts around.
— This site offers two free, real-time charting applications, one Web-based and the other a stand-alone Java applet.
Currency & Converters
Currencies can be confusing, especially when you learn that many lots are purchased in pairs. You can learn about specific currencies when you type the names of that currency into a search engine. For instance, you can learn more about the Euro at that currencys official site. But, if you dont know what to look for, the information found in the following sites will help you out:
- ADVFN Forex Symbol Table — Comprehensive list of currencies. When you click on the currency symbol youll reach a page where that currency is represented through currency exchange rate tables and historical exchange rate charts.
- ExchangeRate.com
— Try out the hot and currency info links that provide information about everything youd want to know about worldwide currencies for 170 countries. Includes calculators, fun facts, serious facts, and more.
— Excellent set of currency converter tools from historical currency exchange rates for over 164 currencies to travelers cheat sheets to customizable products. Visit their detailed currency converter FAQ page if you have questions.
Directories & Portals
The following resources offer choices beyond the ones listed here. Since forex is a booming individual trader industry, expect to find new sites popping up weekly.
— You want it? They have most of it (blogs are missing). Resources arent rated.
— This site is a little difficult to slug through, but worth it for the resources provided.
— Although these sites are rated by popularity and, therefore, subject to rating scams, you can learn much from the sites that are listed simply from the variety of information thats offered here. Many sites are brokerage firms, but as I mentioned previously you can find free information on many of these sites such as news, calculators, techniques, and more.
Economic Calendars & Indicators
Economic calendars and indicators are vital tools for fundamental research. The sites below will give you simple and detailed options.
— A government site brought to you by the Economics and Statistics Administration at the US Department of Commerce. Their mission is to provide timely access to the daily releases of key economic indicators from the Bureau of Economic Analysis and the US Census Bureau .
— What better place to find an excellent economic calendar than a site that focuses on this tool?
— Brief overviews on various sectors from Auto and Truck Sales to a Monthly Wholesale Trade report based upon the US Census.
Fibonacci & Candlesticks
Fibonacci and Japanese Candlestick charts may seem difficult, but with the right training you can master both technical strategies.
— This is the home page for Dr. Ron Knotts multimedia Web site on the Fibonacci numbers, the Golden section and the Golden string hosted by the Mathematics
Department of the University of Surrey, UK. Simple to use, easy to understand, and filled with illustrations to help you learn why some numbers are so important
to nature. These numbers are also of vast interest to many forex investors.
Forecasts and Signals
The following resources use a mix of fundamental and technical analyses to formulate their prognoses:
— True 24 hours real-time analysis for up-to-the-minute recommendations and analysis.
— Currently free daily and weekly high-low signals through the Web site and by email. This site is a division of RDC Bancorp, Inc.. a foreign exchange services company.
— Online information and free e-newsletters filled with signals and forecasts.
Forums and Communities
— Youll find a Forex Beginner Q&A section as well as topics that focus on specific strategies and techniques.
— Another free forum thats been around since 1996.
Fundamental Research
The following list contains comprehensive information about economic fundamentals for your research:
- Bureau of Economic Analysis
(BEA) — Get the straight stuff from the US Department of Commerce like the pros. Everyone from the White House staff to US Trade Commission employees to trade policy officials who want to negotiate international trade agreements use the measurements contained on the BEA Web site.
(CPI) — The US Department of Labor offers a ton of information just on this page alone through their links.
Glossaries
— The only drawback to this glossary is that the A-Z tab doesnt include a total listing of all the terms under the single-letter tabs. Comprehensive.
— An at-a-glance glossary contained on one page.
Government Regulation
- Australian Securities and Investments Commission (ASIC) — The ASICs regulatory coverage includes the forex market. Use their search box to learn more about their reach and responsibility.
- Commodities Futures Trading Commission
(CFTC) — The CFTC operates along the same lines as the SEC
(Securities and Exchange Commission), except this government organization focuses on protecting market users and the public from fraud in the futures and option markets. So keep this site handy to stay on top of any forex scams through their Consumer Advisory on Forex Fraud. You can learn quickly what to avoid in your learning curve through a detailed forex advisory that offers information about other resources as well.
(FSA) — An independent non-governmental body located in the UK, given statutory powers by the Financial Services and Markets Act 2000. Use their search box to locate information about the UK forex market and regulations.
(NFA) — The NFA is the premier independent provider of efficient and innovative regulatory programs that safeguard the integrity of the derivatives markets, which basically means that this organization regulates any market that depends upon future cash flows. The investor information section contains materials about how to find a broker and basic lessons in forex trading. Plus, they publish forex warnings, news, and they offer a place for investor disputes and complaints.
Market Reports
[PDF] — A Comprehensive Morning Report from this Belgian foreign exchange bank (in English).
— FX Daily report from Mellon Financial Corporation, with links to American and European editions and past issues.
— Daily market update from this foreign exchange service in London.
— Daily summary for forex markets sponsored by this Swiss foreign exchange bank.
Nonprofit Associations
- Australian Technical Analysts Association (ATAA) — A non-profit association of both professional technical analysts and anyone who uses technical analysis for private investing, trading or advising.
- International Compliance Association
(ICA) — The ICA is a professional organization dedicated to the furtherance of best compliance and anti money laundering practice in the financial services sector.
Practice
Some of the best demonstration tools are owned by forex brokerages. The following were chosen for their reliability and popularity. Be aware that some brokerages will request your permission to be contacted by mail, phone, or email. In some cases you might want this contact, as they will provide support for your training. In all cases you can walk away if their training and trading platforms dont turn you on.
- CMS Forex — Customize your practice with unlimited funds on CMS Forexs VT Trader 1.8.5.1, a program that includes an API so that you can customize your solution. This software offers a point-and-click open and close positions directly on the chart. Access over 100 indicators, Reuters Forex related news and market analytics, and an autopilot feature. You can reach their customer support team by phone, live chat, or e-mail.
- Forex Trading USA — Free 30-day demo with a Mini ($2,000 virtual cash, 200:1 leverage, 10k lot size) or Standard ($25,000 virtual cash, 100:1 leverage, 100k lot size). Their free education is a nice plus.
- FXSolutions
— Use $10,000 in practice funds with full access to FXSols new charting solution, FX AccuCharts. Backed by 24/7 customer service.
— Download their DealBook 360 to practice forex trading with live, dealable prices, real-time data, and free real-time breaking world and financial news. The software features forex charts, more than 85 technical indicators (for standard size GFT trading accounts) and the ability to build your own indicators. You have a choice about the amount of beginning funds, from $2,500 to $50,000.
Real-Time Quotes
— Pick pairs and watch the quotes. ACM includes a manual [PDF] that explains in detail how to manipulate the chart to your liking. Must have Java plugin.
— Real-time forex quotes. This site also contains real-time forex charting tools with editable indicators.
— Scroll down the page, as the real-time quotes are located at bottom left. Based upon ET.
— Scroll down the page a bit, as the quotes are located at the bottom left on this page, based upon GMT.
Technical Indicators
The following three resources offer the most succinct information about technical overlays and indicators. You can find many more resources at some of the sites previously listed under the Beginners section. under many of the Blogs & News resources, and at various brokerages.
- Forex-Business Technical Indicators — Where the other two sites offer great technical indicator explanations, this site offers 10 charts that illustrate some of those terms.
- IQ Chart
— This company offers a list of technical overlays and indicators with short and easy-to-understand explanations. Take a look at their chart patterns while at this site, as this company is a provider of stock charting software to individual investors and technical analysts.
X-Tras
- IFXTAG — The International Forex Traders Affinity Group provides individual investors access to products and services that are evaluated by top professionals and their members. IFXTAG is committed to harnessing the potential to make electronic trading work for their global community of subscribers. Membership is free, but the resources are not. Members, however, do receive free trials and discounts to various services.
- Traders Press, Inc.
— An online bookstore specifically for traders.
