Website Review
www.Dailymarkets.com
Most traders start their day browsing through market-relevant news headlines to get an idea of what they can expect in the trading day. Dailymarkets.com is one site that offers this service. On the home page (Figure 1) you have a live newsfeed with the most recent news highlighted, prominently displaying how many minutes have elapsed since the news headline was released. Each news story has a small icon next to it, indicating whether the particular story is forex related, equity related, commodity related, economy related, or just a headline. You also see an update on the global markets as well as articles, which I thought made for interesting reading. Many of these articles are oriented toward technical analysis, and it is always educational to read articles that describe price behavior using clearly marked charts.
Figure 1: DAILYMARKETS.COM
The tabs
Across the top you will see various tabs. Under the tab titled “Home” are subtabs for news, market opinions, news toolbar, Commitments of Traders (Cot) charts, and an economic calendar. The inclusion of the Cot charts was a nice addition. In Figure 2, you see the Cot chart of the emini Standard & Poor’s 500. The chart displays total open interest, large speculators net, and small traders net. If you place your mouse over a relevant point on the chart, you will see a popup that displays the date and details. You have an extensive list of instruments to choose from in the dropdown menu that is below the chart.
Figure 2: COT CHARTS. The COT chart displays total open interest, large speculators net, and small traders net.
When you click the forex tab, you will see the forex live newsfeed displayed. From here you can select other tabs including forex charts, educational info, and a profit calculator. The forex chart allows you to select a currency pair to chart and add a few technical indicators. The chart can be detached, allowing you to view the chart in full-screen mode (Figure 3). Another feature available under this tab is the profit calculator. This calculator gives you an idea of how much money you could make given the size of your trading account, your return, your risk/reward ratio, and other variables.
FIGURE 3: FOREX CHARTS. Although these charts have limited features, they can be used to get an initial glimpse at price movement in forex pairs.
The forex options tab is a subscription service for forex alerts. Similarly, the education tab contains information on the Power FX course offered by Grace Cheng, the founder of Dailymarkets.com.
The rest of the features available on this site are articles. The stocks tab is divided into technology, financial, and energy, each containing market opinion articles that are mostly technical in nature. You will find similar articles under the exchange traded funds (Etf) tab. The investing tab also contains articles, but these are mostly educational and contain helpful information for the part of our portfolio that is devoted to long-term investments.
For a global outlook on the markets, especially the currency markets, this is a great site to get in the habit of visiting every day.
—Jayanthi Gopalakrishnan, Editor
