Important FOREX Tools and Resources

While you work with your demo account, learning the mechanics of the trading platform and order entry, you may take a break and consider the many helpful products and services available to the retail FOREX trader.

The rapid expansion of retail FOREX trading has spawned a large online marketplace of products and services. The popularity of third-party trading platforms integrated into brokerage services has eliminated the need for several of these services.

Sorting through this vast labyrinth of information is a daunting task; services come and go rapidly, changes and upgrades are frequent, and the sheer volume is constantly increasing.
Most of the material may be divided into these categories:The selection and reviews discussed are intended as a sampler of what is available. The inclusion of a website should not be considered a recommendation of it, and the exclusion of another should not be considered disapproval. Space is limited. My editor works on a one-martini-lunch budget, and I am reminded of it constantly. Reviews of all the services now offered would require a complete book -- a large one. I have generally omitted categories not pertinent to beginners whose charter is to be self-directed traders, such as signal services, so-called expert advisors, and automated order-entry tools. The emphasis is on websites with content for new or relatively new traders.

I have endeavored to exclude websites with annoying pop-ups, but always beware; a reliable pop-up blocker is recommended when cruising the Internet. Most of these websites have advertisements; some of them are quite obtrusive and distractive. Welcome to Capitalism 101.
By Michael Duane Archer
Michael Duane Archer has been an active futures and FOREX trader for more than 35 years. He has worked in various advisory capacities, notably as a commodity trading advisor, registered SEC investment advisor, and branch manager for Heinold of Hawaii. He currently trades FOREX and futures and is involved in several technical analysis research projects.

Copyrighted 2020. Content published with author's permission.

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