So I’m playing this investopedia forex simulator and when I google for news and updates on currency pairs I get 3, 4 or 7 hours old reports, mostly on dailyfx.com. That’s ok but I would prefer to know other trader’s opinions and their reactions to news events. Are there any websites where day traders discuss currency pairs, news and other important information like in real time?
Welcome, and good question!
I will not be a great help here to locate real time information. I am not sure if forex live market commentaries are even available. But sites are a interesting source for the information you need for the day ahead. It is good to have the economic calender at hand to see upcoming releases of key indicators (which may stir up the market).
I am not sure if realtime market commentary will help you. Being explained what IS happening is already too late.
So looking forward to the resources our community members come up with.
Google RANsquawk. From what I heared it is a good source for news information.
RANsquawk looks good but it looks like it’s a premium service and they charge a monthly subscription fee. I may consider it in the future but I’m not even trading with a real account yet. I was thinking chatrooms, forums, RSS feeds, blogs, etc.
A lot of traders are active on twitter and you can usually get the news/reactions in realtime if you find the right people to follow.
Get on Twitter. Once you spend a bit of time curating your own feed of quality journos and trusted sources, you wont ever look at mainstream news sites again.
But forums, RSS feeds, blogs, etc aren’t really real time. In which case you can also rely on the news service of your broker or the dailyfx articles on the day ahead. When relying on forums and RSS feeds etc, you are always too late.
It would be strange when you as a retail trader would have first hand information based on free services, it is like a unicorn: it doesn’t exist.
Probably important to remember: You are not the first one to hear the news! Others heard it before and already acted on it, you are just one of the horde that follows and are ready to be eaten by the wolves.
For me baby pips is first source where I got forex information. Then I join other forums for knowledge sharing. Even now I rely on this forum for news release , other informations and updates.
RANsquawk and LiveSquawk are both on Twitter too. It doesn’t speak at you, but it’s fast… and free!
Forexseconds.com has a trader talk app on its site, news updates + other tools.
I am not sure if there is a such thing, but I can promise you that what ever someone will tell you during news release it will be useless. No matter what the news will say, you will never get the right market direction. If you ever get it right you should consider it as a pure luck.
I would advise investing.com , yahoo finance and marketwatch - 3 of these are probably the most famous
I often read news at Bloomberg, Reuters, sometimes analytics from Brokerarena
it helps me know, when to enter or exit the market.
There is pretty exhaustive forex information here in the School of Pipsology. Beyond that you could always try various books, as well as youtube tutorials and webinars, there’s a huge amount of them out there and they’re totally free.
There are some books that will offer a good tutorial about a particular trading strategy but the main impetus must be on actual learning via trading rather than using the books…
There are many services available on the internet like forums and social networking sites, but i think social networking is one of the place where you can get your queries answered quickly.
Babypips is enough to learn every thing about forex but If such a source exists, then do you think people are dumb enough for not realizing it. Build your expertise in this and try to analyze market rather than believing in nonsensical resources.
We have got a lot of information over here in the baby-pips and if we will use that then we can surely learn what is the best way to trade …