“So, what kind of forex sites do you visit?”
This question got me thinking. My RSS reader has a “Forex” category that is positively bulking out. I mean, next to a list of great forex books, these are the resources I use to learn, share knowledge, read insightful forex analysis and connect with other traders.
I’m always on the lookout for the best forex resources. Analysis, price action, fundamental news, forums, automated trading, communities and so on. Unfortunately, I’m often coming across sites that haven’t been updated in recent years or are just not available anymore, so I’ve decided to share my up to date list of the best forex sites of 2016.
Of course, this is a quite an opinionated list. It should be! I believe my collection has a bigger focus on personal forex sites with useful insights and less on the bigger news sites or portals with entire editorial teams. Which means it’s more likely you’ll find some sites here that you haven’t come across yet! So without further ado…
The shortlist (in no particular order),
The forex crème de la crème:
Excellent daily market outlook videos and inspirational “thought of the day”. 50Pips has been doing this for a long time and I especially like his modest approach to discussing the markets.
Kathy is probably one of the best known people in the forex world and has written multiple books on forex trading. Her blog features a lot of insightful economic news event and fundamental analysis commentary. She published a great book called Day Trading and Swing Trading the Currency Market: Technical and Fundamental Strategies to Profit from Market Moves, which is essential reading for every trader. She’s also a rock climber, which always wins bonus points with me 😉
Ashraf Laidi is another forex trader that has been around for ages (or so it seems) and often appears on business tv. Now an independent trader, he has worked as currency strategist for institutions such as the World Bank. His website features a combination of intraday market commentary and deeper analysis. Ashraf has published a book (Currency Trading and Intermarket Analysis), which – although quite advanced – contains a ton of information.
Now, Hugh Kimura’s site is refreshing. Immediately indicating he’s not profitable yet, he’s taking the reader with him on his journey to become a successful forex trader. Hugh’s writing style is down to earth and very engaging, I like it a lot. The site features a series of interviews with his “trading heroes”, but also a lot of other insightful articles about forex trading and trading life in general.
What I like about Kim is how she doesn’t only tell how to trade price action, but tweets out live updates of her own trades during the day. Her site features reports of the trades she took, forex trading advice and more.
Vlad is a full time independent trader from Romania. His site features general trading advice, but what I like about it is how he has a sort of anti-bs approach about trading. He often warns about the potential scams and empty promises that (unfortunately) are quite common the forex world. Vlad actually lists his verified trading account on his site, which is nice.
Joel has started off in investment banking and as a currency strategist and is now an independent trader. He’s been featured on numerous media outlets and his site features solid technical and fundamental forex analysis.
Kong (the “trade name” for the guy behind this blog) has been a full time trader for the past 6 years. I enjoy his site a lot; he blends very useful analysis pieces with a not-too-serious approach. The site mentions he trades like a gorilla, and you can definitely see that in his writing as well 🙂
Rof and Moritz are two guys who are now travelling the world whilst trading. What I like about their site is that it often goes a little more in-depth than others. They will give you concrete pointers on how to do things, often backed by some research or statistics they looked into. Tradeciety has great articles on price action, trading psychology and actual price setups.
I love ForexLive for the speed with which they bring news. When economic news hits, they’re always one of the first to talk about it. Next to those live news events, they do more in-depth pieces about fundamental news, which is always an interesting read.
This is a relatively new blog that I’ve started to read. The articles so far have an interesting focus on for example highlighting a specific part of a trading strategy and then backing that up with backtests of an EA that implements some variations.
These are sites I might not use too often, but they’re immensely useful if I need to look something up or want to know more about a specific subject.
This can’t be missing in the best forex sites of 2016! This is the website I refer to every single time someone asks me how to start trading (next to Smart Forex Learning, of course). The school covers so much on basic forex knowledge and does so in such an unpretentious and even funny way, it’s ridiculous. Before doing anything else in forex, you should finish the BabyPips school and get those forex basics covered. Highly recommended.
Unlike what the name would suggest, there’s much more to find here than just some introduction stuff for beginners. This site is full of good articles on support & resistance, price action and more. You can definitely still learn from this site!
Over the years, Thomas of ThePatternSite has created a super valuable collection of articles on everything related to fundamentals, trading psychology and things like the Eliott Wave Principle. Although not specific to forex, it’s definitely worth it to browse through his articles on things like psychology, as they equally apply to fore trading.
Tradimo features a free learning school which is really excellent. You can track your progress as you go along the various extensive lessons on not only forex, but also trading in general.
I love forums! During the years, I found some of the most valuable trading advice while digging through those endless threads, to find the real gems. There are plenty of forex forums but to be fair, 2 of them pretty much dominate everything else, and they are:
This is the forum attached to the BabyPips school and website. I enjoy these forums since they strike a good balance between a good and in-depth trading information and a “having fun” mentality. Since it’s one of the biggest forums around, you’ll find much more than just beginner stuff there, so have a look and I bet you’ll find something useful!
The ForexFactory forum is the other forex forum “mammoth”. It has a huge user base and also plenty of forex trading strategies and other talks to keep you busy.
There’s not too much websites that specialise in automated trading for forex, but here are a couple I enjoy reading:
I’m not entirely sure who’s behind this, but the articles are always very interesting. There’s quite a focus on statistical computing and topics such as data mining are also covered.
Daniel from Mechanical Forex has been running this site for quite some years now, and it contains a wealth of information on automated and algorithmic trading.
This is a category that I’ve long neglected, unfortunately. Until one day, when I decided to google “forex podcasts” and got to know a whole new world of listening and learning about forex while I’m on the road. I enjoy these the most:
What Rob Booker is doing is nothing short of incredible. With over 500 episodes, he’s been at this for a long time, and his twice-weekly podcast covers pretty much every kind of subject. From indicators to why people trade, tips on how to become profitable, common mistakes, and much more.
Hosted by Aaron Fifield, this is a weekly podcast interviewing profitable traders. The idea is to learn from them and find out exactly what makes them a profitable and successful trader.
This podcast by Hugh Kimura (of Trading Heroes) is all about helping people wanting to trade full time succeed. Hugh interviews experts that not only will help you trade better, but also live better.
Walter Peters & Darren Littlewood – Two professional traders discuss trading psychology, trading systems and how to consistently win while trading the markets.
52 Traders is a podcast by Cam Hawkins, who puts up a weekly podcast interviewing traders, trying to figure out if something can be learned. While this is not only focussed on forex, there’s solid trading advice in the podcast episodes and I always enjoy his recordings.
In this podcast series, Hugh Kimura pairs up with Walter Peters to discover what it takes to be a successful trader. They go over various topics such as paying for trading education and how to manage your open trades, but also subjects related to trading psychology such as having confidence in your trades and trading consistency.
There are some other forex-related resources I sometimes visit, and although they don’t fit in a single specific category, I still found them worth mentioning:
Reddit /r/forex – The forex sub-reddit. Ask your questions or help others by giving answers.
StockTwits – Social media meets trading through Twitter. Nifty site.
TradingView – If you want to share your charts, this is the platform to do it. Easy to create trading ideas and publish them for the world to see.
FxStreet Economic Calendar – No forex trader can do without a forex economic calendar. This is my favourite one.
Well, that’s it for my best forex sites of 2016! I’m pretty sure I’ve missed some great sites but these are some of the ones I’m currently reading or listening to. Sites like these make sure that I’m improving as a trader and finding out about new things as well. It’s also just nice to hear from other traders.
Did I forget certain sites? Please let me know in the comments!