eToro Forex Blog: I’ll Have Some Insight with My Scoop

For years traders have been split into two camps - those following forex news and those following forex blogs. The forex blog being a rather recent addition to the trader’s tool set, we want to use this occasion to shed light on the less obvious advantages of forex blogs, as opposed to strictly sticking to forex news updates.

Let’s face it, all forex platforms provide news updates. If your platform doesn’t, perhaps it’s time to look around for one that does. And while forex news updates are indispensable, they are at the same time extremely limited. A typical news update will let you know that an economic event took place and in the best case scenario give you the scoop on the economic figures. Non-farm payrolls rise 2.3%, 0.3% higher than expected. If you’re a financial guru, you may be able to figure out just where these figures fit into the global financial picture. But if you’re more like the vast majority of traders, the significance of these figures will seem vague at best without some further info.

This is where forex blogs such as the eToro Forex Blog come in. Forex blogs don’t have the limitations of the short news flash format, which means that in addition to pure economic information you will also get some expert insight into what impact this information has and will have on the markets. Combined with forex market info and a peak into investor sentiment, forex blogs help put forex news in perspective.

The eToro Blog in particular even goes one step further and posts “Trader’s Insight” articles which take on wide economic phenomena and explain how traders can apply information about these phenomena to their trading decisions. eToro also adds a segment of “Trader Sentiment” to each blog item, in which they write about the sentiment among eToro’s worldwide social trading network.

To sum up, limiting yourself to the short flashes that pop up on your platform’s news reel also means limiting your field of vision in terms of global economy, which can often lead to misjudged trading decisions. Rather than take the risk, take a look at the blogosphere.