The following is a list of my top 10 favorite free resources on the web for investors and traders. None of these websites involve any cost, though some do offer the possibility to upgrade to a pay service. We did not include TraderPlanet, since you are already here.
1.www.TopStepTrader.com If you are intraday trader that is tempted to have CNBC on during your trading day here is an entertaining alternative. “Eddie the Broadcaster” will keep you informed with a solid mix of market news, special guests that are actually helpful, and his own brand of humor. Trading can be a solitary occupation; joining the TopStepTrader’s free chat room and broadcast can make it a lot less so. As an added bonus TopStepTrader provides the opportunity to manage a part of their private equity by passing a “combine,” where you prove you can trade. There is a charge for the latter.
2. www.Mr.TopStep.com The owner of MrTopStep is Danny Riley who is Marty Schwartz’s broker. For those of you not aware Marty Schwartz is a prolific S&P trader and author of the book “Pit Bull” which is an excellent summer read if you have not had the pleasure. Free resources include “Opening Print” an outlook for the direction of upcoming day in the S&P which is most often a pretty good road map.
3. www.StructuralTrading.com There is free content at MrTopStep by Kathy Garber who is also the owner the Structural Trading website, which has further free content. If you are interested in “Harmonic Patterns” based on Fibonacci this is a good place to have a look and decide if learning more is for you. I have personally observed at least one of Kathy Garber’s students absolutely own the Euro Currency using these techniques. No doubt in the right hands it is very, very powerful stuff.
4. www.DailyFX.com There are several writers on this site that focuses on FX but the standout is John Kicklighter. His nightly videos are often long, but the depth of research and fundamental overview for the short term and bigger picture are unsurpassed. If you are seriously trading FX, it is a must.
5. www.TradeNavigator.com Great technical analysis software especially for those looking for all the power without all the learning curve. Excellent software for testing trading strategies against historical data using an easy to use programming language that is virtually English. The basic software is a free download with the option to upgrade to a more powerful version later. Also check out Trade Navigator president Glen Larson’s free newsletter, which is chock full of useful education.
6. www.NinjaTrader.com Another free software download, with a user friendly interface. The NinjaTrader YouTube channel has thousands of videos. If you watch enough of them, you will definitely learn some things as well as start to separate the useful from the not so much. More third party programs work with NinjaTrader then any other software.
7. www.Traderfeed.blogspot.ca Noted author and psychologist Brent Steenbarger covers a wide variety of topics related to trading and particularly the psychology of trading.
8. www.TipRanks.com This website follows analysts and bloggers in the stock market and tracks their success rate. Find out what each analysts current hot pick is and the success rate of past recommendations. There is an upgrade to get more in depth information, but the basics are a good start.
9. www.ZeroHedge.com Love it or hate it, a lot of people have strong opinions on ZeroHedge. Certainly ZeroHedge are not afraid to go where the main stream financial media will not, and for that reason alone are worth a read.
10. www.ArmstrongEconomics.com Martin Armstrong has a very good, not perfect, record on the macro view of financial markets, politics, and world trends. He is a “tell it like he sees it” personality, and like ZeroHedge you will get information and views from this blog you will never see anywhere else. The blog is thought provoking and entertaining, rarely dry. A must read for the trader and investor looking to weigh all the evidence.
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