Forex blogs are an excellent way to learn how to trade currencies. They provide information on the latest trends in currency markets and offer advice on how to improve your trading skills.
A forex blog is a good resource to further facilitate your trading skills. These blogs give more insight on strategies, indicators, chart patterns, etc.
Generally, the best place to learn about every element in forex is blog sites. In these blogs, the mathematical formulas indicators utilize are discussed. Also, theories that served as the building block in technical analysis are found in forex blogs.
Furthermore, important topics like risk management, backtesting, and the likes can be learned on forex blogs.
For certain disciplines like a forex which has so many aspects, forex blogs are good places to find hidden gems.
There are tons of forex blogs on the internet providing tons of useful content for FREE.
#1. Forex Dominant
I think of forex dominant like the new kid on the block. Forex dominant offers custom bot creation for clients on request.
Not everyone has the luxury of time to stare at charts. This doesn’t hinder profit-making, automatic bots can be deployed. A preview of this bot can be used for 15 days to test its reliability.
In addition to this, forex dominant has an amazing blog section. It’s basically an encyclopedia for everything relating to forex.
A wide range of theories can be learnt here, the backgrounds of indicators, etc. Of course, trading strategies and broker reviews aren’t left out!
#2. Daily FX
The ‘daily fx’ blog contains all the tools a forex trader might possibly need. There’s no surprise it comes first on this list.
All data on this blog is provided by a renowned broker- IG. They provide a wide range of articles varying from educational content to predictions of the market.
On this site, users can access various trading strategies for free. Videos on fundamental and technical analysis can also be found here.
Another stand-out feature is the layout of the economic calendar which makes it easy to understand.
#3. Baby Pips
When it comes to integrating newbies into the world of forex, this website is unrivalled. Forex is extremely complex and tough already as it is, so, they use a lot of analogies and jokes to simplify information. Likewise, loads of colourful images are used too which helps a bunch.
Baby pips made its name mainly through educational content. For this reason, a lot of its other tools went beneath the radar.
Trade ideas with charts explaining the outlook are shared routinely. Additionally, they have a really nice trading calendar- the best I’ve seen in all honestly.
The only flaw Investopedia has is its contents are not exactly beginner-friendly. Other than that, it’s perfect, ranking as the largest financial education website in the world
The history behind theories, indicators, etc. can be found here. The methods indicators use to process data can be found here. Which makes it easier to tweak the values of these indicators to better suit the need.
Investopedia has a stimulator that is free to use, although this stimulator can only be used for the stock market.
#5. Trade With Rayner
The founder of this site owns a YouTube channel and has published a few books. On his site, there is a blog section for strategies and trading secrets.
The forex blog is not updated as often as others but the content is top tier regardless.
Check his blog out here.
#6. FX Street
For me, I feel the contents of each webpage can be arranged more aesthetically. Regardless, the FX street blog is pretty solid.
The charts of all major currency pairs are side by side with articles on the market’s outlook which is a nice touch. Also, analyses and articles on cryptocurrencies can be found here too!
#6. Forex Peace Army
This blog was founded by a former trader who wanted to share his knowledge with others. He has written several articles on how to trade successfully using technical indicators.
Also famous for its catalogue of brokers, books, and robot reviews. check them out now
Investing.com delivers reliable coverage around the clock. Insights on the strength of currencies and all economic-related events are provided in different languages. Also, cryptocurrencies are not excluded either.
#9. Forex Magnates – One of the oldest forex blogs.
It was founded back in 2007 by an American trader named John Pfeffer. He has been writing about currency markets since then. In addition to his own articles, he also writes for other forex blogs.
His articles cover topics such as technical analysis, fundamental analysis, and market trends.
#10. Forex Factory – A great resource for beginners
My favourite thing about the forex factory is the economic calendar, it is extremely detailed. The forum section on this site gives some of the best forex traders a platform to engage themselves. The latest/ hottest news around the globe is delivered too!
Forex Factory is a blog written by a team of professional traders who share their experiences and insights into the world of currency trading. They provide tips and strategies for beginners as well as more experienced traders.
This blog has been running since 2009 and offers a wide range of articles covering everything from technical analysis to fundamental analysis.
Can you get rich with forex?
As the statics suggest, only a handful of traders are profitable and this shows how tough forex trading is. It’s not impossible, but it is extremely difficult.
Most traders can’t stay true to their trading principles daily and eventually get burnt. Even if it means a solid trade will be missed stay away if all of our rules are not met.
Further, do not over leverage, use a stop loss always too as capital preservation is the primary goal. Most importantly, patience is necessary not to trade, consistency is rewarded in this industry.
To keep staying on top of the market, adaptability is necessary, never shy away from polishing your trading skills.
The number one reason for this is poor risk management which is down to greed. Traders are always tempted to use large leverages for the potential of more gains.
But this has a ripple effect, drawdown of just little pips causes havoc due to the lot size.
Absolutely, setting up a trading account is buttery smooth. Most brokers accept deposits with a credit/ debit card.
However, trading the forex market without properly learning the basics is disastrous. As a beginner with zero prior management in financial markets, you should not involve in forex. Blindly investing in the forex market will result in losing all your capital in a matter of days.
But the truth is no one magically became a veteran at trading. Everyone who diligently puts in work can become good at trading forex.
Summary – Forex Blogs
The beauty of the internet is the amount of information literally floating around for free. Most forex traders would prefer learning aspects of trading through a YouTube video.
Nevertheless, forex blogs divulge better information than YouTubers would. Plus, content is updated way more often.
Here at forex dominant, we have an experienced team issuing all sorts of forex-related content in our blog section.
The articles are suited for both new and experienced traders, feel free to dive in!