The Best Forex Trader Forums For « BrokerCheck
There are quite a few reputable Youtube video channels that you can check out if you want to learn about forex trading. For example Trading or Khan Academy are two good channels to begin with. When learning about forex trading, you also need to pay attention to other aspects such as the economy and also understand how the fundamentals work. Forex trading forums are another avenue to learn about forex trading.
There are many threads that you can follow to understand the more technical aspects of trading. It is important to note that you need to be careful about the threads and topics that you follow.
Forum list
This is because forums are made up of different types of traders; from professionals to absolute beginners. Therefore, the information you come across can be incorrect at times. However, if you spend enough time on a forum, you would be able to easily figure out which threads and traders to follow. In order to be able to truly figure out how good you are trading, then you need to put this knowledge to the test. Trading strategies are one way to understand how well you know the markets and the technical indicators.
Most traders make the mistake of purchasing a trading system. This makes it a little trickier to find the topics that you are looking for, but only a little, and it has the knock-on effect of making the forum more inclusive.
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This means that, whenever you post something new, it will be seen by the whole community, and you will be more likely to get a quick response. Although this forum purports to cater for traders in all markets, most of the traffic comes from forex traders, and these sections are by far the most popular in terms of viewer and post numbers. The sub-forums — of which there are many — are divided into categories such as T2W Community, Trading Career, Trading Tools, Trading Control, Trading Methods, Trading Brokers, Trading Choices, and New Traders, but it is the Forex discussion in the Trading Choices sub-section that will be of most interest to FX traders, and this is coincidentally the most popular section of the forum.
With a breezy, non-standard front end incorporating more graphics than your typical forum, and a certain light-heartedness pervading the whole site, it makes a refreshing change from the dry, text-heavy appearance sported by many trading forums. Nonetheless,rather than sticking the categories on the home page, this forum just puts all the latest and busiest discussions up there with a link to the sub-forum.
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This is actually quite helpful, as it reduces the risk of posting a question in the wrong section and not having it seen by the right people. Top 12 Reasons to Invest in Physical Gold. The GameStop Craze. How to Trade in Canada. But how does a novice trader choose among all the different options that are out there? This can seem like a daunting task, especially for those getting started and have little experience to go by.
To help in this regard, we have listed the seven highest quality Forex trading blogs on the web. This list of top Forex forums include some that are geared more towards discretionary trading and also a couple that are more focused on automated and systems trading. Traders are encouraged to visit each of these top forex forums that made the cut, to see which one or two suits their preferences the best.
This is because it can be quite overwhelming to follow more than one or two. Doing so can sometimes lead to information overload and paralysis analysis. Keep in mind there are many other novice and inexperienced traders within these trading forums trying to find their own way. As such, the best advice would be to take in as much knowledge as you can, but you should always test any ideas for yourself in a demo or practice account before committing your hard-earned dollars to it in the market.
Many beginning traders also make the mistake of focusing solely on the strategies or set up sections of a forum, often ignoring other important threads such as those related to trading psychology , risk control, and money management. Babypips is a top-notch Forex trading forum that was founded in and has served as a steppingstone for thousands of newbie Forex traders.
Babypips offers both the traditional forum format, along with a special educational section. The educational section takes users through the most important concepts related to trading the Forex market. This education section is often referred to as the school of Pipsology. It includes different levels based on the difficulty of the learning objects. For example, their preschool section covers basic areas such as, what forex trading entails, and how to buy and sell currency pairs.
Moving on from there is the elementary section that teaches traders about support and resistance and trendlines. After that would be the kindergarten section which describes the different broker models and the process of opening a Forex account. This is followed by the high school, middle school, and graduation level materials which get progressively more in depth, respectively. The education section also includes quizzes that will help you to test your knowledge and see which areas you have grasped, and which areas that you need to spend more time learning about.
Now getting to the heart of the Babypips website is the forum section. There is an, introduce yourself section, that allows you to provide some background on yourself and let the community know where you are in your trading journey. This includes beginner questions, trading discussion, trading systems, community, broker discussion, trading tech and tools, bitcoin talk and crypto, global markets, commercial content, and the lobby.
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Each of these primary topic areas will include additional subtopics. As an example, one of the most popular topic areas is the trading discussion section. Within the trading discussion subforum, you will find discussions on currencies, economics, risk management practices, trade journals , trading lifestyle, and more. Another interesting aspect of the Babypips website is the Babypips tools section.
Forex Forums
This includes a host of calculators that can help traders make better trading decisions. Currently, they offer the pip value calculator, pivot point calculator, position sizing calculator, and a gain and loss percentage calculator. Many users rely on these calculators on a regular basis and will refer to them prior to initiating any potential trade. Users can participate in any and all of the subforums, and they can opt to receive notifications via email based on mentions, replies, or other types of actions. Forex Factory is one of the oldest and most recognized Forex trading forums for beginners in the industry.
It has tens of thousands of active users on the platform that regularly contribute to various content threads and discussions.
But the Forex factory website goes well beyond a traditional forum platform. As with most other Forex market forums, you will first need to become a member before you can gain access to all of its features.