6 Top Free Trading Resources, Forex and Investing.
6 Top Free Trading Resources For Stock Trading, Forex and Investing
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6 Top Free Resources For Stock Trading, Forex and Investing
As a beginner it can be overwhelming when you first enter the world of trading and stock investing.
There is a lot to learn and there are quite a few scams out there that you don’t want to fall into.
That’s why I am sharing my top 6 free trading resources, to help you to learn more about trading, Forex and stock investing.
Resource One —- Books
There are so many really useful books out there that you can read to help you to develop your knowledge when it comes to trading and investing.
I have read and studied many trading, investing and finance books.
I have found these few an invaluable tool for building, rounding and perfecting my knowledge of trading.
They are a must have for any one wanting to learn how to trade.
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The Art and Science of Technical Analysis: Market Structure, Price Action, and Trading Strategies.
This book explores why randomness prevails in markets.
It bridges the gaps between the academic view of markets, technical analysis, and profitable trading.
And it goes into detail on all of the elements of technical analysis and market structure you need to know to help you to learn more about how to read the charts.
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The Candlestick Trading Bible.
The Candlestick trading bible is one of the most powerful trading
systems in history.
It was invented by Homma Munehisa. The father of
candlestick chart patterns.
This trader is considered to be the most successful trader in history,
Known as the God of markets in his days, his discovery made him
more than $10 billion in today’s dollar.
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Trading in the Zone.
This book uncovers the underlying reasons for lack of consistency
It helps traders overcome the ingrained mental habits that cost them money.
It takes on the myths of the market and exposes them.
Helps you to understand the true realities of risk.
To be comfortable with the “probabilities” of market movement that governs all market speculation.
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The Intelligent Investor.
Benjamin Graham was one of Warren Buffets teachers “By far the best book on investing ever written.” — Warren Buffett
This book teaches, Graham’s philosophy of “value investing” which shields investors from substantial error and teaches them to develop long-term strategies.
Over the years, market developments have proven the wisdom of Graham’s strategies.
So it is definitely a staple for all invertors to read!
Resource Two — Risk Management
Risk Management the difference between a trader and a gambler is good risk management.
Risk management is being able to protect your account if trades do not go the way you intend them to go.
I have created some videos specifically about Risk Management that you can check out. These are some more Free Trading Resources from my channel.
I also recommend the website www.babypips.com which has lots of really good information on there for free.
The more you learn about risk management the more you will realise it is the key to becoming a successful trader.
It’s about understanding how you calculate your risk per trade and the importance of not risking more than you can afford to lose.
Another great method of risk management is using a hard stop loss for your trades, so that if your trade goes against you it doesn’t get out of control.
Next is understanding profit loss ratio and the importance of using a positive profit loss ratio. Basically how much you’re willing to risk compared to how much you’re aiming to win per trade.
Simplified, Positive Profit Loss Ratio means effectively that you want to win more than you’re going to lose.
It’s learning and internalising these concepts of risk management that can really help to transform you as a trader.
Resource Three — News
Another one of 6 top Free trading Resources is the News.
The news can play an important part in your trading or investing plan. As global news about a certain topic can drastically effect the market in a positive or negative manner.
There are plenty of online News websites and apps to keep you totally up to date with what’s going on day to day.
One of my favourite sites is;
It has a lot of free information, focused on the financial markets and keeps you informed about important news dates.
Their calendar of when news releases are expected to be announced are very helpful. Regardless of if you’re more interested in trading stocks, investing or Forex.
Some other really good sites you can use such are yahoo finance market watch, finvis and benzinger.
These are also great as you can use them to monitor news or dive into learning more about the companies that you were looking to trade or invest with.
Fundamental Analysis.
Fundamental analysis is the process of breaking down the impact of political, economic and social factors on the relative value of a currency. Through identifying the primary drivers of a currency’s intrinsic value, forex participants are then able to craft informed trading decisions. www.forex.com
So this basically Fundamental analysis is looking at the data and analysing the factors that will affect change within the company. Depending on how the market is moving and what external factors are happening, fundamental data gives you an idea of the larger scale picture of what is going on. This can help to give you a good base to go from and helps to predict what is going to happen with the asset in the future.
Technical Analysis.
Technical analysis is name used to describe what traders do when they study the charts to see how the price has been moving. It is read by using the candlesticks to see where
The theory is that a person can look at historical price movements and determine the current trading conditions and potential price movement.
By analysing the patterns that have gone previously this technical data gives you a more detailed idea, to be able to predict where the price is going to go next.
Different aspects of Technical Analysis
- Being able to read price action.
- Candle stick patterns.
- How and where to implement your trading strategy.
Again I would recommend Babypips to any one who wants to learn all about how to start doing your own Technical Analysis as it is one of the best free resources out there for all levels of trader.
The trading platform itself
I recommend that once you have learnt how to trade you start on a Demo account. This is a simulated trading account with your chosen broker. It is the best way of getting experience actually setting trades. A demo account also gives you a taste of how your emotions can come into play when your trading, which is a big part of trading.
Here are some Brokers that you can set up demo account with.
Brokers links
| UK Broker | American Broker | Any where else |
| Vantage | Oanda | Icmarkets |
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