Finding a Good Forex Forum
Many forex traders look at forex forums as a way to connect with other traders and get additional information about the market. It is recommended that new traders find a forex forum to join so they can get the benefits they offer. Of course, you must ensure that the forum is active and offers you the information you need.
There are a number of different skills you need to have to successfully trade forex. You need to be able to analyse charts, find relevant news stories and adapt to the ever changing market. With this being the case it is important that you find a forex forum that offers you insight into all of these areas. The forum should have sections and posts about news, trading tip and charts. If the forum only discusses one aspect of forex you may find yourself limited in what you can do and actually becoming your own trading enemy.
The Activity Levels of the Forex Forum
Before you join a forex forum you have to see if there is a sufficient level of activity. There is no point in being on a forum that does not get much activity. The form should have a number of posts and they should mostly be recent. If the most recent post on the forum was not in the last few days then you should look for a different forum. A lot of forums have high numbers of posts and users but very little activity.
Does the Forum Actually Have Discussion?
There are a lot of forex forums on the internet that do not have discussions. Discussions are the best way to get information on the forex subject. These forums are generally created by people trying to sell you something. All the threads on these forums will either lead to a trading programme or service where you have to pay to get more information. These forex forums will not help you become a successful trader.
How Relevant is All the Activity?
While having a lot of activity is important on a forex forum you have to ensure that it is all relevant. Many forums have sections which are not for forex trading talk. These areas will have more general discussions which are not at all relevant to forex. You have to ensure that the majority of activity on the forum is happening in the forex sections.
The sections which get the most activity should be areas where people share insight into the market, share their strategies and generally give help to other traders. If these sections are not very active you may not get what you need from the forum.
If you are a new forex trader you should look at forex forums which cater to the beginner. These forums will have information on how to get started in the market and tips from other traders on what to do. Going to more advanced forums can led to confusion and may make you reconsider trading forex at all.
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