Websites For Traders
www.FX360.com
Just the Url should give you a pretty good idea of what you can expect from this website. You will note from the home page that it has a user-friendly layout. All the features are laid out clearly, making it easy to navigate around the site. At the top is a window rotating through five news or analysis articles, which are probably the more significant articles to read for that specific trading day. Below that you will see the market commentary section written by two well-known individuals in the forex arena, Kathy Lien and Boris Schlossberg. There’s also an economic calendar, technical analysis reports by Roger A. Stojsic and Bradley W. Gareiss, latest business news, and a forum for traders. Along the right-hand side you will see trade recommendations, a quoteboard, and central bank rates. In addition to forex quotes, you can find quotes of gold, silver, oil, and US/European/Asian equity and bond markets. The most recent addition to their feature set has been the FX360 iPhone application.
FX360.COM HOMEPAGE
FX360.com was founded by Gft and cocreated by Kathy Lien and Boris Schlossberg, who are directors of currency research at Gft, so those of you who use its services will be on familiar ground.
Features
You can access the main features in more detail using the tabs that are along the top of the home page. So although the economic calendar is available on the home page, you can access an enhanced version by clicking on the calendar tab across the top of the home page. A display of the weekly economic calendar is displayed in Figure 1. Forex traders need to keep abreast of bank announcements, interest rates, government reports, and so on. Each of these announcements may have a different impact on different currency pairs or crosses. To make it easy for you, FX360.com indicates if that news release has a low, medium, or high impact on the currency listed in the currency column.
Figure 1: economic calendar
There is an interactive charting feature that, although limited in charting tools, has what is necessary to perform some initial analysis. In Figure 2 is a 15-minute chart of the Gbp/Usd with the awesome oscillator below it. You do have the option to add up to five indicators from the available list. In addition to adding indicators, you can draw lines, trendlines, Fibonacci retracements, and the Abcd pattern. The Abcd pattern is one that is used frequently by the analysts who write their reports or commentaries on this site.
FIGURE 2: INTERACTIVE CHARTING FEATURE
The technical analysis and commentary features contain informative, educational, and insightful articles that are a must-read for anyone interested not just in forex trading, but in technical analysis. You have the intraday technicals where they have their potential strategy as well as the reason for the strategy. They have these listed for various currency pairs. There is a similar format for swing trades or positions that are held for longer than a day.
The chart pattern analysis is one I found interesting. Here, the analysts discuss the bullish and bearish Fibonacci patterns they use in their trades, which is basically the Abcd pattern. You will also find trade recommendations for various currency pairs and crosses based on their technical analysis. They have their recommended trades, open trades, invalidated trades, and their closed trades listed so you can get a good idea of how their trades performed; bear in mind that these trade recommendations are based on the analysis of FX360’s team of analysts and you don’t necessarily have to agree with them. Even though everything is done for you, it’s always a good idea to come up with your own analysis.
The information on this site gets updated in real time, but keep in mind that these are forex trades, which means they tend to be very short-term and potentially risky. So although the site is a treasure trove of ideas for the forex trader, treat it as an educational site.