Many traders tend to think that professionals are successful because of the information they have at their disposal. They have the best newsfeeds, the best insight, the best strategies to exploit global developments.
Fortunately, this is no longer true. The internet era has basically eliminated the information asymmetry that professionals had in the past.
At FXRenew we have put together a long list of key resources we use on a daily, weekly and monthly basis. There are also resources that we think are useful to various categories of traders. So bookmark the page (we update it now & then) and pick up the same tools that we use in our daily habits.
In the past, professionals would have access to Live platforms from Reuters and Bloomberg, getting the news fast while everyone else needed to wait for the newspapers the following morning. That time delay is long gone.
With twitter and internet, nowadays traders have access to basically the same information in real time. So do not think that professionals have some kind of speed advantage over you. You can get access to equally powerful tools – for free.
In the past, bank research used to be a privilege that only account holders or institutional clients were privy to. Once again, say goodbye to those days. There are a decent number of investment banks that disseminate their research for free. We’ve gathered them in one place for you.
If you don’t know how to use them, or what to look for, check out these two blog posts:
- How to Identify the Line of Least Resistance with Fundamentals
- The Essential Guide to Fundamental Analysis for Traders
Quick Guides & Spreadsheets
We have also thrown in various tibits that should be helpful in building a trading system (if you don’t have one), fine-tuning your chart-reading, calculating correct position sizes…you name it, and we’ve probably covered it somewhere in our list!
We Didn’t Forget About Stock Traders
Stock traders will feel at ease as well as Forex and Commodity traders, since we have a dedicated section to Stocks.
Close the Gap
With this wealth of resources, you really have no excuses for your lack of success in the markets.
- Are you uneasy about your strategy? Test it with ForexTester.
- Need help to either perfect your model or want to bypass all the stress and just be taught a model that works? Justin has your back.
- Don’t know what kind of statistics are useful for learning about your own trading and what areas need improving? Tradervue is the place to go.
- Think you’ve got what it takes to move from retail trading to becoming a signal provider or an autosignals manager? We have a pathway for talented traders so get in touch if you have what it takes!
Close the gap between retail and professional trading. Utilize all instruments at your disposal, or pick up those few that fit your trading model or help you the most.
Eliminate the outdated belief that professional traders have some kind of advantage. Eliminate the belief that you cannot compete with them. You have the tools to compete on the same level.
About the Author
Justin is a Forex trader and Coach. He is co-owner of www.fxrenew.com, a provider of Forex signals from ex-bank and hedge fund traders (get a free trial), or get FREE access to the Advanced Forex Course for Smart Traders. If you like his writing you can subscribe to the newsletter for free.