2007 Jan 26 - Fri

Trading Site of the Day -- BabyPips: Beginner's Guide To Forex Trading

BabyPips is a site that takes a child-like view on the world of Forex. Perhaps that phrase could be misconstrued as a negative when in fact I meant it as a positive. It uses bold colors and clever graphics to hightlight the informative text.

The site has a School section where newcomers are introduced step by step to the world of Foreign Exchange trading principles through discussions of terminology, chart reading, psychology, news analysis, supporting indicies, and then proceeds to advanced topics.

That was the theoretical side. For the practical side, there are a number of site blogs where the writers provide summaries of the trades for the day, why they did what they did, and how it worked out. Other site blogs provide mini-discussions on relevant topics to help round out the education.

There is a related forum section where site readers can provide feedback and ask questions on foreign exchange trading.

A Forexpedia, a form of a Wiki is also present where knowledgeable members can write and contribute articles regarding foreign exchange.