Which Twitter Handles And Trading Websites Are Worth A Follow

internet trading resources

A question I often get from traders is, “What do you read and listen to while you’re trading (or in my free time)?”

It’s a question that is often asked by newer traders that are trying to get started and want to research as much information as possible.

My answer is that “I’m very careful with what I pay attention to”. There are so many outside influences that can have a bad effect on my trading so I’m very selective on what I allow into my trading world.

First thing you want to consider is to make sure you have a trading system in place that trumps any blog, website, or TV. show that you might be paying attention to. These outside influences can cause you to second guess your system, which is the last thing you want to do.

With that being said, I am just as addicted to the markets as many of you are and love to hear about anything finance related. However, again, I am very selective with the material that I pay attention to. The material that makes it into my trading world has to line up with my style of trading.

I personally trade futures and options so the material outlined below is right up my alley.

 

Social Media And Trading

Following traders on Twitter  is something that has taken the place of reading blogs over the past few years. The ability to get instant thoughts from other traders throughout the day is very interesting to me.

You can search for people on Twitter based on keywords. For example, a search for people using “day trading” “options trading” or “stock trading” will give you a number of different people you can follow. My feed is full of trading information based on my preferences.

Is all of it worthwhile?  No.  But it is nice to see how other traders spend their days while I am waiting to push the buttons.

I find it fascinating to follow traders and different market professionals throughout the day to get insight into what they see going on. I have listed 5 of my favorite people to follow using their Twitter handles below.

You can look these people up and follow them yourselves.

  • @slopeofhope
  • @netpicks
  • @zerohedge
  • @grassosteve
  • @riskreversal

 

Trading Blogs And Other Websites

Twitter is limited unless the trader links out to a blog if they have one.  There are a handful of great trading related blogs/websites that I frequent on a regular basis.

  • Calculated Risk:  This is the blog of Bill McBride and his economic commentary is one of the best in the business.  This is the blog that is mentioned by Time, WSJ, MSNBC, so adding it to your reading list is something that is well supported.
  • Benzinga:  I’ve always enjoyed this website for commentary as well.  They’ve just released a “Pro” version (it was talked trading the news here) for traders who want more in-depth actionable commentary as well as breaking news alerts.  You can visit Benzinga Pro here.
  • Tasty Trade:  This site was created by the founders of ThinkOrSwim and provides live market commentary and training throughout the day. Live shows are
    broadcast on their site each day. These traders are all former floor traders and their options expertise is second to none.
  • Fallond Picks:  Technical analysis enthusiasts will enjoy this blog by Declan Fallon with a focus on the technical assessment of markets.
  • Netpicks Trading Tips Blog:  Of course I must give a shout out to our own trading blog.  From trading indicators, trading psychology, all the way to trading options, our blog is a strong candidate for a must read trading website.

 

Trading Books (or Get Inside The Head Of The Successful)

Netpicks did a whole blog article on day trading books we suggest every trader have on their bookshelf.  From trading strategies in Forex to trade psychology and technical analysis, I hope you enjoy that article.

One of our Netpicks coaches suggested these two trading books as his “must have” readings.

  • Trading in the Zone – Mark Douglas: This book is a must read by all traders…year after year. The psychological aspect of trading is so important and often overlooked by traders. This book will help you walk through some of the stumbling blocks that all traders face at some point in their trading careers. I read this book at least once a year.
  • Reminiscences of a Stock Operator – Edwin Lefevre: This book is more for casual reading but it’s also one that has some timeless lessons in it. This is one that I will sit down and enjoy reading instead of being a book that I study.

Again, I would caution you to be careful with the information you fill your brain with.

Trading based off a CNBC tip or a blog post is never a good idea. These resources can be interesting and helpful at times but it is most important to have a system in place that you can use for your trading decisions.

A trading system will put the odds in your favor while a news source will not. Make sure you are following sources that will help you grow as a trader but keep your trading strategy the first thing you depend on.

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