In the past, trading was a career practiced only by financial professionals in the leading financial institutions in the world. It was very difficult for normal traders to find their break in trading.
This was attributed to a number of factors. For instance, trading was not digitized as it is today. It was difficult for a person in the United States to trade stocks and derivatives in United Kingdom.
Today, tools have been developed to help traders from all over the world access the global financial market (we provide to our traders more than 50 markets).
In addition, there was a limited supply of information to the traders. By then, traders relied heavily on newspapers which did not provide up to date information. Instead, financial television stations such as Bloomberg and CNBC were not available to a large population (and websites didn’t exist yet).
These factors contributed to the low penetration rate of trading around the world.
Today, with technology, it has become easier for traders to get in the system. Today, a young man from Zimbabwe or Syberia are able to participate in the global financial market, and one of the key factors that have contributed to this is the availability of information (like the one provided from these sources).
And, thankfully to a smartphone, you can even download tons of helpful Apps.
Trading, however, is a discipline that many people practice from desktops, so it is much easier to consult a website.
Here, in this article, our intent is exactly to offer you some websites–besides of course our own–that you can use on a daily basis. Some are just must-haves.
Table of Contents
What to look for in these websites
There are many reasons why you may want to look at in these websites. Some of the top information to look at are:
- News – News is an important part of day trading. As a day trader, in most cases, you will trade companies that are making news. As such, having access to this information the moment it breaks.
- Educational content – You will want to have a good access to educational materials to learn about trading. Some of these websites provide good educational content.
- Interviews and exclusive content – The other reason to consider is the interviews and exclusive content that theyy offer.
- Data – Many websites provide important data that traders find useful to make their decisions. For example, a website like Investing provides key data like earnings, economic data, and holiday.
- Opinions – There are websites that provide opinions from their writers. These opinions and analysis can be used in your analysis.
The must-visit websites
Investopedia
The world’s leading source of financial content on the web: form market news to insights, from investing education to retirement strategies, everything is at your disposal on their site.
They also rate and compare various financial products, for istance Online Brokers or Trading Platforms, making in-depth analysis.
Just Google ‘Day Trading’. Who do you think it’s the first (and second) result?
Yeah, it’s Investopedia.
Investing
Investing is more than a website. To us, this (together with its mobile apps) is a tool that no trader should ignore. Investing provides all tools that a trader needs. For instance:
- a well-detailed economic calendar
- earnings calendar
- ipo calendar
- technical analysis tools
- thousands of ticker symbols
- analysis from experienced professionals
- charts you can customize
We use the website for analysis before opening real trades in Ppro8 (our Software).
Baby Pips
This is one website that any trader who is starting out should constantly use, though it provides mostly training on forex trading. The website is categorized into sections – run from preschool to graduation – which one is supposed to use.
In each section, the user is guided on various topics. For instance, in the preschool, some of the topics are: introduction to forex, why trade forex, and how to trade forex. In the undergraduate, topics include market sentiment and carry trade.
Bloomberg
Bloomberg is the world’s largest financial media company. It has thousands of reporters around the globe who provide up-to-date information around the clock through its (unaffordable) terminal, website, radio, magazines, and television station.
Bloomberg’s website (and mobile apps) are important for any trader because of the news delivery. Bloomberg is a trusted entity whose news is trusted by most traders.
In addition, it has many tools which traders can always count on to make investment decisions.
Seeking Alpha
Seeking Alpha is the world’s biggest financial analysis website. The website (together its apps) provide an opportunity for analysts to post their analysis on companies, commodities, and forex among all the rest asset classes.
They has also seen some of the biggest investors such as Bill Ackman post content in the sites. In fact, an article published in the website in October 2015 led to Valeant losing more than 50% of its value after the article was published.
Because of the remuneration package that Seeking Alpha pays its writers, it receives thousands of articles on a daily basis. Therefore, the staff carefully reads all the articles before publishing them.
This makes it a valuable website for any person with interests in financial market.
Stocktwits
Twitter is a powerful tool today. We all visit twitter to get breaking news and see what other people are saying about a particular topic.
For traders, Stocktwits is the new version of Twitter.
Stocktwits is a website (and sure an app) which connects millions of traders and investors to share news and information on specific areas. Traders use the dollar ($) sign instead of the famous hash tag which is used in Twitter.
Whenever there is a breaking news, We always make it a point of going to the site and see what other people are saying about it.
In addition, before open a buy or sell order, we always ensure to check the sentiments of other traders.
TradingView
The largest network of self-directed traders with a very advanced financial platform. Just this could be enough to love TradingView (and his app). Here you can find real time quotes, draw your charts testing many indicatos and watch expert trading ideas.
Of course, the free version have many limit (and is not as completed as Freestockcharts), but here you can share your content and discuss with other pros to improve your day trading strategies. It’s like a chart social media!
StockCharts
This website is perfect if you want to learn more about trading indicators and how you can create them in charts.
This second part, ChartSchool, is the one we prefer (you maybe have just seen some external link to their arcticles): their step-by-step guides are something you have to watch at least once, they are very clear and simple to understand.
Koyfin
Koyfin is a relatively new website that provides one of the best dashboards for stock traders. As shown below, the website provides features like a watchlist, latest news, stock performance by sectors, and global yields.
You can use it to simplify how you trade and how you receive breaking news.
Other notable websites among others are: Fool (www.fool.com, just mentioned in Podcast), The Street (www.thestreet.com), and Estimize (www.estimize.com).
As you see, there literally are websites for all your needs: just choose your favourites and add them to your bookmarks!
