Other Resources

Knowledge is power - so educate yourself! It’s all great to get trade advice and signals, but if you want to be a successful trader long term you need to be able to make wise decisions of your own.

Here are a number of excellent resources online.

If you are new to FOREX, I advise you to start at http://www.babypips.com – they provide an excellent overview of how the market works, how to recognize trends, how to read charts, and how to be a better trader.

For news sources, I recommend http://www.freshpips.com/ and http://www.fxstreet.com/fundamental/economic-calendar/ - I find that one to be the best calendar around.

You should always start trading a new strategy in a demo account. I recommend http://www.fxcm.com/open-free-100k.jsp but there are many choices for brokers around. It’s easy to learn very expensive lessons in the FOREX – but no reason not to learn them for free in a demo – so save yourself the heartburn and try your strategy out “on paper” first.

Some people really like www.forexpeacearmy.com as a source of information. I find that it needs to be taken with a grain of salt but there is some wisdom there as well.

For people who like to do shorter term trades, the “super scalping” strategy at FeelTheFX.com has had some amazing results.  Check it out at http://www.feelthefx.com – it’s not the style I trade but if you are careful, you can take a portion of your trading account and work with the quick trades – just be cautious, as volatility is not always your friend! FeelTheFX is giving out free signals to interested traders and explaining the trading style, so whether you want to do short term trades or not, it’s still worth reading up on how it works and learning a new trading method.

Another free signals provider is Paladin at http://www.paladin4x.com – I’m looking forward to seeing his system in action, as he has a lot of experience and good market insight.