Trading and investing are all about information: Accessing it, processing it, and turning it into an action that makes you money. In this week’s episode, I go through my favorite learning tools, data sources, news providers, and more to help you locate the most beneficial info and toss out the rest.
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(CC image by Andreas Kohn on Flickr)
Section 1: Market News, Commentary, and Data
Newspapers: Wall Street Journal, Barron’s (subscription required to view articles)
Online: Reuters for high-quality reporting on breaking news
Television: Bloomberg TV
http://www.dailyspeculations.com/ – Vic Niederhoffer’s blog
Economic articles & blog posts: Financial Sense, Monetary Metals, Keith Weiner Economics, Armstrong Economics, Let’s Talk Bitcoin
Podcasts: Financial Sense Newshour
Live prices in various futures markets around the world at Marketwatch.com
Live currency cross rates
Calendar of economic data releases and other important events
Daily historical prices for stocks, ETFs, and indices: Google Finance and Yahoo Finance
Live prices and stock charts: TD Ameritrade, Scottrade, Fidelity, Google Finance and Yahoo Finance
Economic data series from the St. Louis Fed
Historical oil price data from the Energy Information Administration
Various data series that can be imported into R, SAS, Python, and other advanced statistical tools
Cryptocurrency price charts
Section 2: Learning Advanced Topics
For serious students, I still think books need to be a part of your study plan. Here are my ten essential books for traders and investors.
Spreadsheet skills: Microsoft Excel courses on Lynda.com from LinkedIn
YouTube – here’s one of my favorite presenters of high-quality technical analysis
Live streamers on Twitch.tv – a very new but promising niche
Personalized instruction and coaching, customized to your goals
Section 3: Sources to Avoid
“Hot stocks” from email newsletters, pump-and-dump scammers, or social media groups
Poor-quality, overpriced garbage like Online Trading Academy – you’re paying $4,995 for what exactly?? Their obnoxious radio & junk-mail ad campaigns?
Instructors who promise massive returns overnight, turning $1k into $1M in three simple steps, etc. Don’t get scammed.
Anything you use to get blind recommendations – always do your own diligence before making investments.
What are your favorite sources for news, commentary, data, and education? Please share! Leave a comment below.
Intro music and mid-program music by audionautix.com