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WHERE DO DAY TRADERS GET THEIR NEWS?



News and economic data are two of the best resources you can use while day trading. This is because you have to choose carefully your sources.To get more news about Forex Day Trading, you can visit wikifx.com official website.

No matter what asset class or instruments your trade, the role of news cannot be understated. As a trader, if you don’t have the best source of information, chances are that you will not succeed.
Also, having the right information also means nothing if you are not able to receive it instantly.

In this article, We will highlight a few areas where you can get the latest information on companies, currencies, and commodities.
Depending on the trading platform that you use, there are chances that it provides the latest news and analysis about assets. Most platforms like WeBull, Schwab, and E*trade have an intuitive news platform that provides investors with the latest news. As you can see below, Webull has a good newsfeed.

Social media
Another place where you can get news as a trader is in your broker's social media platforms. Many companies have excellent Twitter and YouTube channels where they share the latest news and analysis.

→ Social Trading: How to Maximizing returns

We have to mention Youtube too. In the last few years, also thanks to the Covid Pandemic, more and more people and companies have started to offer live trading on the platform, enjoying great success (see our partners at TraderTv).

Many traders have taken this opportunity to do some copy trading, while still listening to the analysis made on the spot by experts.

Paid Platforms
Further, there are paid platforms that deliver more news. Some of the most popular among advanced traders are Bloomberg, Reuters, and FactSet among others. However, these platforms are extremely expensive and not ideal for most ordinary traders. For example, Bloomberg Terminal costs more than $20,000 per year.

There are other well-known news platforms like Reuters, CNBC, Financial Times, Bloomberg and Wall Street Journal. These are the websites that most people visit every day before they start trading.

Other platforms you can use are podcasts, television, and even radio. Social media platforms like Twitter, Reddit and StockTwits are also excellent platforms to get the latest news. Wall Street Bets is one of the best platforms for news on stocks.
Analysts
Companies are followed by different analysts who research and provide information on them to their clients. In many cases, these analysts usually have relationships within their organizations.

When they receive information, these analysts usually share it with their social media followers and in certain occasions, they come live on television.

As a trader, you should carefully follow analysts that follow the companies you are interested on.

A good example of an analyst is Andrew Left who runs a company called Citron Research. The stocks he has written about like Valeant tend to decline after he publishes his reports.
Business Networks
Although more people are now turning to social media for their news, the fact is that business television is still very relevant.

CNBC, Bloomberg, and Fox Business are the major television networks We recommend: we use them every day to get breaking news and in-depth analysis on major dealings.

Last week, the news of Whole Foods and Amazon was first aired on CNBC and analyzed intensively by the likes of Jim Cramer (you absolutely have to listen his 'Mad Money' Podcast) and the former Walmart CEO.