Websites You May Want To Consider
When it comes to trading and trading education, there are thousands of companies and websites trying to grab your eye balls and dollars. Most are slick marketing with little value so what is the new trader to do? Good places to start are the actual exchange websites for the following reasons:
1) They are the home of the "markets" we trade. The exchanges want you trading their products which is why they are so helpful both online and with phone support.
2) The education departments at the exchanges are extensive. They are loaded with free education material. I find that people are surprised once they see how much quality free education they offer. These education departments want you to call them and ask questions. They are there to help.
3) No need to have your used car salesman guard up. The exchanges don't have anything to sell you, they simply want you to trade their products be it stocks, futures, options, or currencies. In other words, you can feel comfortable calling them and asking questions without wondering when the sales pitch is coming.
4) Exchanges are VERY regulated these days. They have always been regulated but since most of them are now publicly traded companies, there is now an extra layer of regulation which is nice for the retail trader.
The Exchanges/Websites:
NASDAQ: www.nasdaq.com
This is the home of the tech heavy Nasdaq stocks. This website has very good education and great tools for finding stocks to trade. I have written about some of these tools, see prior articles for that detailed information. If you trade stocks, make sure you spend time looking at all the sections on this website as their tools are spread out.
CME Group: www.cmegroup.com
This is the home of most of the futures markets you would ever want to trade. It is the combination of the Chicago Mercantile Exchange and the Chicago Board of Trade. The education department is great for trading and for information on the products/markets they offer. For information on the markets you are looking for, simply click on the market (S&P Mini for example) and then click on the "specifications" and you will get all the information on that product.
Chicago Board Options Exchange: www.cboe.com
Here you will find everything you need to know about stock options and trading stock options. They have a deep education offering on the website and plenty of home study tutorials.
Eurex Exchange: www.eurexchange.com
This is the fastest growing exchange at the moment for futures traders. It is 100% electronic and always has been. It's a Euro exchange so understanding the information on the website may not be as easy as the others but this is one exchange you want to pay attention to if you're going to expand beyond stock trading.
If you have any questions on this or other topics, email me anytime. For those looking to tackle the Forex markets, I will be instructing that class in North Carolina in a couple weeks. We will be learning and practicing quantifying demand, supply, and trends in these exciting markets.
Have a good day.
Sam Seiden – sseiden@tradingacademy.com
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Sam brings over 15 years experience of equities, forex, options, and futures trading which began when he was on the floor of the Chicago Mercantile Exchange. He has traded equities, futures, interest rate markets, forex, options, and commodities for his personal interests for years and has educated hundreds of traders and investors through seminars and daily advisory services both domestically and internationally. Sam has been involved in the markets since 1991 both on and off the floor of the Chicago Mercantile Exchange. He has served as the Director of Technical Research for two trading firms and regularly contributes articles to industry publications. Sam is known for his trading, technical research, and educational guidance.