Just as in any other social network, remember to avoid these shady types. It's not always easy to build a solid feed , such as a watchlist or a list of accounts to follow on Twitter.

But the sheer quantity of information online is extremely high, and if properly filtered, it can prove to be an invaluable source of data. For this reason, we recommend starting with these channels, and then doing your own research within subreddits. The subreddits in this list are ordered by total number of members, from most to least. GameStop is an old school company that sells physical computer and video games.

The firm has been in a decline for years as more people started to focus on cloud gaming. It has also been squeezed by short-sellers who believe that the shares are expensive and that they will decline. It is easy to understand why GameStop has been failing.

While gaming has been on a steady increase over the years, in reality, more people have avoided GameStop. They have instead preferred downloading games from the popular stores. Also, with Google Stadia, there is a general transition from physical games to the cloud.

Therefore, in January , disappointed with Wall Street, many day traders in the Wall Street Bets WSB and Day Trading forums started to pump some of the most shorted companies. GameStop was one of them.

In the aftermath of the Wall Street Bets, many short-sellers went through a short squeeze. A squeeze happens because when a stock is shorted, the maximum loss that can be made is infinite. In contrast, when you buy a stock, the maximum loss you can make is zero. GameStop was not the only company targeted by Wall Street Bets. In fact, these companies received a name known as meme stocks. In general, this refers to companies whose share price is influenced by social media.

In all fairness, the concept of meme stocks is a relatively new one. In fact, many experienced traders were caught off-guard when companies like GameStop and AMC became the talk of Wall Street.

However, drawing by these lessons, we can identify some of the best strategies of trading these stocks. The concept of meme stocks is a relatively new one. In this article, we have looked at how the Wall Street Bets social media craze broke the investing world as we know it.

We have also looked at how you can trade these stocks and some of the risk management strategies that you can use to reduce risks. How Reddit day traders are using the platform to upend the stock market and make money in the process - Business Insider.

Sign up for The Opening Bell to receive our bi-weekly newsletter with actionable insights and hone your day trading skills with the help from our market experts and your favourite TraderTV personalities, delivered straight to your inbox every Tuesday morning.

Thanks for information and here is the top Forex Trading Reddit that every FX trader should follow and help to know about new daily updates on the Forex market. One way to do this is by using conventional financial news sites; however, there are more interactive platforms to find news, updates, and forecasts in the forex markets. This is where forex forums and discussion boards can become handy tools for forex traders.

These enable forex traders to get the latest updates, news, events, and market sentiment — all in real-time and from other traders and analysts who participate in the foreign exchange market and share the same goal. Forex forums are online communities and boards where users can discuss the latest news and trends in the forex market.

Additionally, users also share their opinions about the next price movements of currency pairs and discuss trade ideas. Forums can also be an excellent place for beginner traders who need advice or guidance on starting their forex trading career.

Or, it can be valuable for those who use the same trading platform and need tips on how to use it, add indicators, backtest a trading strategy , etc. Get free access to our live streams and our market analysts will show you exactly how to trade the markets. All these are part of the reasons why joining a forex forum can help you. Trading is partly about gathering information, and forums are a great way to do that. Remember that when you are trading currency pairs, you are usually on your own unless you decide to join our prop trading program.

You often want to know what other traders think about a specific currency pair or the general situation in the market. Not only that, but you also want to share your trades and know what other traders think about the direction you decide to take. Here, in the list below, we chose the top six forex forums and trading discussion boards for forex traders.

With a monthly average traffic of around million users, it is no surprise that Investing. com has developed a very effective and active discussion forum and boards on its site. The good thing about Investing. com is that the discussions on the site or mobile application are a bit different.

Basically, you can navigate to various instruments and find the comments tab. You can find anything, literally anything, you want on Reddit. From Yoga to sports to some of the most bizarre Reddit groups out there. So, of course, you can also find lots of trading and forex market forums. Finding the right thread is sometimes difficult, and asking questions could be intimidating. At the same time, Reddit is not just a forum. As evident from the GameStop story in , Reddit could be a movement.

You practically join a group of people who sometimes have a collective goal. Now, Reddit could be a bit to use for some people, but you can certainly get many trading ideas and opinions about the forex market. With this in mind, you need to find forex trading groups on Reddit. Some of the best subreddit groups about forex trading include:.

Forex Factory is one of the oldest and most popular forums for forex traders. The site, which was founded in , offers a vast variety of threads all over the forum. You can basically discuss any category or topic related to forex with more than , members. With such a huge user base, the ForexFactory is perhaps the most popular forex forum out there. So naturally, you can find trading discussion forums about specific currencies, technical indicators, chart patterns , forex trading strategies, broker discussions, trading platforms, trading psychology, etc.

In sum, if you are looking for the most comprehensive forex forum, the ForexFactory is likely the best of all. Best for beginners and traders looking for news and updates about a specific currency pair. So, this forum, which is completely dedicated to answering all the questions about the MetaTrader trading platform, is also the favorite forum for MetaTrader users. The MQL5 forum covers lots of information about the MetaTrader trading platform.

If you are a beginner, you can find answers on the MQL5 forum on downloading and installing the platform, using the MT WebTrader platform, setting up technical indicators, and working with multiple charts.

Furthermore, traders can find many discussions about automated trading systems and Expert Advisors. TradingView is one of the most popular and widely used free charting platforms online. This massive site has nearly visitors in a month, and some traders even prefer to use the TradingView charting software over those available on trading platforms. And, as you can expect, it has an excellent trading forum for forex traders. Technically, the TradingView community section is categorized into live streams, trade ideas, educational ideas, and scripts.

For example, traders looking for Forex news and forecasts can navigate to the community-trade ideas-forex. In there, community members regularly post news, technical analysis forecasts, forex chart pattern tips, forex trading methods, etc. Yes, we know, Twitter is not really a forum. But it could be, right? I mean, technically, Twitter is a private forum, so why not use it as a platform to get information about the forex market? And, by all opinions, Twitter is one of the best places to get information about financial markets.

Best of all, when using Twitter to find information about the forex market, you can use top trading hashtags to search specific terms and keywords. Furthermore, you can also follow day traders and analysts that influence the market or share valuable information. To sum up, a forex trading forum can be an excellent tool for traders to get news, updates, trade ideas, and guidance on using different platforms and features. Of course, you should not rely solely on the information posted on forums; however, it is an extra tool you should use to expand your knowledge and know you have the correct information.

Still, we recommend choosing a forex forum based on your trading needs rather than the other way around. And, if you are looking to join a live trading community, we suggest you join our trading room , where you can access live daily market streams with our trading analysts and become part of a trading community.

Frankly, many traders do not use trading forums and even dislike them as they may create a bias in their trading decisions. But, this way or the other, at some point you might have to get some help or hear another opinion from other traders. When you join a forex forum, you can connect with other traders who are on the same level as you are and going through the same challenges and difficulties.

Additionally, you can learn from experienced traders who share their opinions and trading ideas. Clearly, many forex traders are looking for a mobile app enabling them to interact with other traders. Our research shows that the best mobile apps you can discuss with other beginners and experienced traders are Investing. com, Reddit, TradingView, and Twitter. There are many forex forums that can help beginners find educational material for free; however, it appears that the best forex forum online to learn about forex trading is ForexFactory.

What could possibly be the value of advice from an online forum like Reddit? The specific Forex subreddit , not only features success stories but horror stories of forex traders "blowing" their accounts in a myriad of ways. It's like being privy to an extensive trial and error process most traders experience , without actually putting your own investment on the line. regulated - so sales comments or marketing materials are usually deleted.

So, most. ForexLive seems to be Reddit's favorite source of Forex related info. Some other commenters mentioned Twitter as a great source for concise real-time information - a piece of advice we gave in our article about looking beyond technical analysis. There are many a cautionary tale on the Forex trading subreddit, one that seems to consistently show up is the new trader that decimates their account by overleveraging.

If you are unfamiliar with the term it's when a trader uses an ill-advised amount of leverage to open a position. Why ill-advised? Because a very small adverse movement, would close out the trade - or even multiple trades due to margin stop out. This overlaps with the advice above, overleveraging increases your exposure, also known as risk.

Managing this variable when trading, according to most institutional, retail and reddit traders - is key to protecting your investment. Another interesting point made by the Forex redditors is - in the above vain, stop-loss defines position size, not vice versa.

This is frequent reversal made by new traders which focus on their position size and potential gains, instead of their maximum risk. Impulsiveness when trading is very dangerous. Having a trading strategy and sticking to it is an extremely effective method to manage risk - the inverse on the other hand is an extremely effective method to lose all of your investment. If you proactively try to recover your losses immediately after losing, then you are going to be in a world of pain - or at least your account is.

It is very important to detach emotions from trading. Greed, fear, anger and pride which seem like biblical cardinal sins are in fact emotions that can influence and cause traders to make uninformed decisions. Of all of the advice on the internet, keeping a trade journal is something that is surprisingly under represented. With all the variables involved having a baseline that you can revert to is extremely valuable.

The military looks at past campaigns for strategy, athletes look at play backs of their past games to avoid their previous mistakes, become more efficient and ultimately better at what they do. What makes you think traders couldn't benefit from that?

Forex trading is all about timing. Markets are their most volatile during opening and overlapping times, after policy changes and announcements.

Sometimes you need some time for volatility to normalize and see what trends are emerging, other times volatility is beneficial. But most new traders are eager to trade and trade on impulse, which is never a good idea. Or in trading lingo, stick to your trading strategy. A side-note here - you are not married to one strategy and no one strategy is gospel. Those that adapt, survive once said an old British chap named Darwin. The same holds true for traders on the market.

Although there are many different ways to approach trading, and as many different trading theories as there are stars in the sky, one thing that is a given is; knowledge is king. Sometimes that knowledge comes directly from the source - traders like you on Reddit. Select additional content:. Education Sponsored. GMT LON NY TKYO SYD Your email.

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Because a very small adverse movement, would close out the trade - or even multiple trades due to margin stop out. Privacy Policy. Investopedia News. Only trade with money you are prepared to lose. Sign up for The Opening Bell to receive our bi-weekly newsletter with actionable insights and hone your day trading skills with the help from our market experts and your favourite TraderTV personalities, delivered straight to your inbox every Tuesday morning.

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