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What are the best websites to use before starting a trading session?

 
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jimpm888

What are the best websites to use before starting a trading session?

Hi,

My name is Jim and I'm super stoked to reach Silver 3 after making many mistakes such as not checking the "Client sentiment" of a pair as well as the fundamental analysis before making a trade.

Through my research, I've found a few helpful web pages such as:

https://www.dailyfx.com/sentiment

https://www.fxstreet.com/rates-charts/trading-positions

https://tradingeconomics.com/currencies

https://www1.oanda.com/forex-trading/analysis/open-position-ratios

https://www.mataf.net/en/forex/tools/volatility and 

https://www.forexfactory.com/trades.php

My question is, what are the best FX news and research websites that are recommended to give us a feel for the market before trading?

Jim

Tue, 08/27/2019 - 6:07am
 
jerry.woolston

I use forexfactory.com to check on economic releases and speeches that might be coming up during the trading session. I also go to forexlive.com to get a feel for which currencies are moving and why.

 
DaleSullivan

I like the daily economic calendar at https://www.investing.com/economic-calendar/ and the relative pairs strength at https://www.finviz.com/forex_performance.ashx

 
marco.cardenas.c

https://fxssi.com/tools/current-ratio

 
spaschal

Great information

 
jan_1

https://www.investing.com/economic-calendar/

Great fundamental articles as well

For all the live tweets (no account or subscription needed)

https://twitter.com/LiveSquawk

 
drrichardson77

BabyPips.com DailyFX,com

 
scottpatton
 
Rookie

Scott, thanks for sharing these two useful and educational sites!

 
scottpatton

You're welcome, Rookie

 
trad9350

Thank U for this info. I use a couple of these now

 
tabitha.hodge66

I always check Forex Factory first before doing anything on the charts. I like to ensure that I'm not surprised by any news announcements that could possibly go against me quickly and hit my SL.

 
broslansky

Good websites. Thanks for the tips.

 
sergio_1

Awesome resource thank you!

 
Miney

thank you guys I will certainly check all these sites.

 
exit260

I like dailyfx.com for their Economic Calendar. You can set it to your time zone, and then narrow it down to just the important announcements for the day or for the week. You can also look ahead to next week.

 
Romina

Investing.com is all I use!

 
dbkincome

cross reference Forex Factory and MY FX Book for fundamental announcements. Also Financial Juice for news.

 
karelploeg

I find Economic Calendar very useful. It can be easily set to your local time zone, (your computer time).

 
luthercolt

Thanks for the resources.

 
kcfortuna

forexlive.com....helps me with my scalping at the London open.

 
mwmd713

Great suggestions - thank you every one! I like to keep Alveo up on my laptop and monitor the big picture on Yahoo Finance on my iPhone simultaneously (for those who don't have a desk top with multiple screens or monitors). You can put whatever pairs you want to follow in your watch list and very quickly see the daily, 5d, 1 mo, etc trends and price action - or zoom in to see hrly, min, etc. Also when you click on a pair, you get referenced articles and updates from investing.com and Fx Empire, etc.

 
fv.ekos

My 2 cents, in addition to all comments above - I have OANDA demo account which allows me to view simultaneously the charts of at least 8 (more if preferred) currency pairs in my 27" external monitor.

I trade mostly the 3 currency pairs (USD/JPY, EUR/USD and GBP/USD) but occasionally able to identify good trends of other currency pairs based on OANDA charts.

 
vegterc

Lots of great links everyone, thanks for the info. I'm going to check them out thoroughly.

 
Eddie_A

Thank you!

 
jqklein14

I pay for other charts that list the news events on pairs coming out right on the actual chart, this helps me never to miss news events, then I just avoid trading one hour before and one hour after. This is great for me because I don't have to check a separate site all the time, I've missed more news than I care to say due to not checking often enough!

 
Samira

https://www.forexfactory.com/

 
subedar

Hello Jim,

Thank you for these very valuable links. I appreciate them.

 
karelploeg

Hello jqklein14

You get the news events announced on the actual charts that you have open?
That is very useful! Can you give a little more detail about this?
Last month misfortune struck and I ended up within seconds a few hundred dollar in the red because I stayed in a trade too long. I was in profit up until that time. Hm (Learning the hard way)
On the other hand, once, and probably this will never happen again, I had a triple entry, because of a news event by 'accident' I profited over 800 dollars. This was a one off. No, this is not the right way. Knowing when the major news events will happen is very important.

 
tonylupina

I believe most traders cannot trade the news consistently for profit. So volatile.

 
redlineroadsterls1

From the beginning of my simulation Runs (finally Gold 1) Forexfactory .com gets me most information .among other things.

 
peparvin

what pay charts give you the news? jqklein14 referred to

 
ebrohde

I keep an eye on Yahoo finance, Bloomberg news, CNBC and yes even Jim Cramer...I'm looking for consensus in reporting on big news stories.

 
2TAD

Mentally I can only ever spend 30 mins on anything to do with trading. I just stick to analytic trades from charts and that alone has made big enough wins.

 
novak.aleksey

forex factory news section :)

 
scwall

I use Forex Factory to see when there are scheduled announcements and the expected impact they may provide. Be careful trading within 15-30 minutes of the high impact announcements as they can produce some very wide swings in a short period of time.

 
dessua

forexfactory.com for news schedules and potential impact

http://www.livecharts.co.uk/currency-strength.php for relative strength picture. Not a final but information only.

currency Heatwave mobile app. (for Android) I don't know if they have the app for iOS

https://www.investing.com/technical/pivot-points ( haven't used it for a while but it is useful for pivots. besides Alveo has a better pivot indicator)

 
bizibizz75

I like DailyFX ,ForeXlive , CNBC , Forexfactory , Bloomberg on tv

 
daveclark

dailyfx, forexstreet, forexfactory.

It's often difficult to predict price movement prior to scheduled news events, but they often result in an over-reaction and you can play the correction after the initial move.

 
drzed79

Good to know! Thank you

 
Romina

I use Forex Portal App on my Android

 
m-r-j

I do really like forexfactory but I know there are many alternatives out there, keep watching fanatics some great tips out there

 
TellurideSkier

I use dailyfx, forexstreet, forexfactory. I find them to be quite informative. The key is to get all relative info before starting the trading session. It really helps to prevent wrong entries. So, 2-3 minutes invested prior to trading pays off nicely - my personal observation. When you know the sites you are using - getting the info from them takes a very short period of time.

 
Rookie

The Apiary Calendar for scheduled classes.

Today there is a conflict from the older post and the new post

I'm guessing the older post may be correct.

12-30 classes.PNG Smile thumg up.PNG
 
mike_smith

does anybody know if Alveo is under a maintenance time currently?

 
bs4x

I like forexfactory.com (free) and forex watch (paid) for the iPhone

 
G Smit

babypips.com

 
mattgtoo

Nice read. I have been using forexfactory in the passed but will be trying some of the others suggested.

Thanks,

 
htatafu

Thank you for all the different sites.

 
myrthiehazelrealtor

So many great sites and they are full of knowledge for us to learn and grow!!!, thanks again for sharing

 
padam10

fxblue.com - market data tab

 
cbn500

My site of choice is dailyfx.com. I go there every trading day to get an extended view of the pairs I plan to trade.

 
Rookie

he he, their charts come from TVC..

 
cbn500

@Rookie, ...

ig.jpg
 
Rookie

not that it makes any real difference as IG is a broker, but the charts sure look like a TVC chart.
any have a great weekend and happy trading.

Thanks for the sight clarification.

 
jojovjl
 
varietyup

thanks for the different information sites posted i will look into

 
3PisceanART8

I only have three sites open when trading:
1. https://www.fxstreet.com/economic-calendar (for major news)
2. https://www.forexlive.com/ (for news and unexpected ones)
3 https://www.tradingview.com/markets/currencies/cross-rates-overview-heat... (for currency correlation and strength and
weakness.

 
rdelfavero

I need to check some more sites. I use forex factory.

 
mmohsin61

forexlive, tradingview, and fxfactory

 
Christofir

Great

 
jabernal21

Thanks for the great tips on your research websites. I'll be checking them all out to see which best suites me. Just reached Gold 1, so I am stoked!

 
jason.k

Just to throw a curve in this post is to also recheck the website you are using after you used it before your trade. Check the actual results you are getting with your trade plan than just trading by hype. Beware there are websites out there to claim “they’re the best”. Further more too much news are distractions. Best to keep one or two good gems that actually work!

 
ras5898

Being new to this business, good information is everything. I just started incorporating a quick look at the news before trading, just to avoid an obvious influence to the market. I have found that you need to check a few different sites, because they will have differing views. So, I would suggest at least 3 sites, at a minimum, to check. Thanks for some recommended sites.

 
BC Rider

What a wealth of great information in this thread! I have found a few new favorites!

AS FAR AS NEWS IS CONCERNED ---> I REFUSE TO TRADE THE NEWS. One can get some great pip action - but it is just simply too unpredictable and the higher spreads can eat you alive. I do however use the information AFTERWARDS to help me with my decision making in regards to any directional bias.

I previously used ForexFactory for the Eco-Calendar and news - but I discovered that they don't always display all of the news events. Apiary has a decent one..... but I prefer ForexLive for my EcoCalendar. Now as far as actual news? I try not to get crazy because there are so many sources. BUT.....

https://currencylive.com/news/
https://www.myfxbook.com/streaming-forex-news

I really like the myfxbook one because it is an all-in-one type of resources. It pulls news from FXStreet, Marketwatch, Oanda & DailyFX.AS far as "Trader Tools" are concerned...? I have had very little success with them. At least not at a level where it has become worth my time.

THIS SENTIMENT TOOL HAS GIVEN ME MIXED RESULTS. I am still experimenting with it. Thus far I have only used it overnight trades. Seems to me that right around 8am - any trades that were succeeding fail. I have alot of trouble trading NY session anyways.....
https://fxssi.com/tools/current-ratio

I also like to track The US Dollar Index on Investing.com. Such a great website. Their live charts are so helpful and accurate. Great tool if you want to see a marker placed on the chart for economic events. You get to see right away how certain activities are effecting your particular currency.
https://www.investing.com/indices/usdollar-chart

CURRENCY STRENGTH TOOLS:
https://www.investing.com/tools/currency-heatmap
https://currencyquake.com/

https://www.mataf.net/en
Wealthy resource all around. One you'll just have to poke your nose around in. *** You can select any currency pair here and see what time of day and what days of the week a particular pair is more active.

 
BC Rider

What a wealth of great information in this thread! I have found a few new favorites!

AS FAR AS NEWS IS CONCERNED ---> I REFUSE TO TRADE THE NEWS. One can get some great pip action - but it is just simply too unpredictable and the higher spreads can eat you alive. I do however use the information AFTERWARDS to help me with my decision making in regards to any directional bias.

I previously used ForexFactory for the Eco-Calendar and news - but I discovered that they don't always display all of the news events. Apiary has a decent one..... but I prefer ForexLive for my EcoCalendar. Now as far as actual news? I try not to get crazy because there are so many sources. BUT.....

https://currencylive.com/news/
https://www.myfxbook.com/streaming-forex-news

I really like the myfxbook one because it is an all-in-one type of resources. It pulls news from FXStreet, Marketwatch, Oanda & DailyFX.AS far as "Trader Tools" are concerned...? I have had very little success with them. At least not at a level where it has become worth my time.

THIS SENTIMENT TOOL HAS GIVEN ME MIXED RESULTS. I am still experimenting with it. Thus far I have only used it overnight trades. Seems to me that right around 8am - any trades that were succeeding fail. I have alot of trouble trading NY session anyways.....
https://fxssi.com/tools/current-ratio

I also like to track The US Dollar Index on Investing.com. Such a great website. Their live charts are so helpful and accurate. Great tool if you want to see a marker placed on the chart for economic events. You get to see right away how certain activities are effecting your particular currency.
https://www.investing.com/indices/usdollar-chart

CURRENCY STRENGTH TOOLS:
https://www.investing.com/tools/currency-heatmap
https://currencyquake.com/

https://www.mataf.net/en
Wealthy resource all around. One you'll just have to poke your nose around in. *** You can select any currency pair here and see what time of day and what days of the week a particular pair is more active.

WITH ALL OF THIS BEEN SAID: I still believe that Price Action trading and being aware of what patterns MIGHT be forming are the best way to analyze the charts.

 
harryburtt

I like the comment that one of the main things to gleam from fundamental news is a direction bias. But even here I think it needs to be corroborated with chart action at least 1 hr and up.

 
lin.sheppard66

Up to this point I have been trading the price action without worrying about the news. Now, I'm starting to look at Forex Factory and the Apiary news calendar. Up to this point I have been trading the price action without worrying about the news. Thanks for all the links you posted, BC Rider. Need to check some of those out.

 
TomCatt

This Double Band Perspective Chart is helping me Play the Waves and see the market Direction of the minute when it starts to Trend or Not.

It works great to see direction, especially in the lower 1-5-15-60 min time frames.

This example uses 14 & 210 Time sets for the Bands, but I'm still experimenting with different custom settings, some that harmonize with the oscillators.

I use wide, heavy lines with 10-20% transparency so I can see the candles behind them with wider lines on the Longer term so I can tell them apart.

When the 14 stays along the edge of the 210, chances of an Outside Breakout are good and Price action (confirmed by ADX levels), clues me as to when entry times are great with Bands helping me place good SL and Target Levels. When enlarged, the visual makes it fairly easy to see potential movement up or down based on direction and width of the bands.

I welcome input on this from others who might check it out.

Double Band Perspective.jpg
 
GreyFox

forexfactory.com calendar is the best way to get news and upcoming potential trades. You can customize the calendar so it only gives you the important events coming up. hope that helps.

 
dshrp11

https://www.barchart.com/stocks/quotes/$EVZ

I included a link for barchart.com and the volatility information. I have found that if the value on the page is in the low 6 range or lower, it will be very difficult to trade and make anything happen.

When it gets to 7 or higher, opportunities are more prevalent and rewarding, in a far shorter time frame.

 
chuck.hodge

BC Rider, out of all the websites you mentioned are you paying sort of monthly subscription fee's. If so, which ones and why? You mentioned : https://www.investing.com/indices/usdollar-chart. are these charts really live or 10 min. delay like all other charting sites without a subscription that in includes a monthly fee. I watch the Dollar Index chart on barcharts and find it very helpful in making trade decisions regarding direction. And be delayed 10 minutes it gives me a good idea of why some pairs moved like they did but not how they're going to possibly move short term IE: over the next 50 to 30 minutes. Thanks for your insight and suggestions.

 
mlupchurch28

I use TradingStrategyGuides.com, Tradingview.com, Autochartist.com, and Forexfactory.com. I like Autochartist.com the most. But the others are very good also. You should pick 1 or 2 to learn to use then move onto others. I have found that is the best way to learn to use and trust the site.

 
mgerch

https://www.dailyfx.com/economic-calendar?ref=SubNav

This gives you a quick overview of upcoming events on the Daily, Weekly and Monthly timeframes.

 
TurtleDove.2K

I particularly like the volatility tool on Mataf. It helps me decide the best pair for the time of day based on my strategy.

https://www.mataf.net/en/forex/tools/volatility

 
Tagus

I tend to check FX Factory for major news, but I find that my best website is my chart :)

 
jimpennatl

Hey Jim, Here is one I use often. I think you can get something out of it. Good luck!

https://www.marketscholars.com/2020/10/26/market-outlook-10-26-20/

Cheers, Jim