Accurate, insightful, and timely information is essential to successful day trading. If you fail to keep up to date on the latest details and the rest of the market knows something that you don’t, you will quickly find yourself on the wrong end of a losing trade trying to understand exactly how you got there.
Fortunately, the explosive growth in retail trading has led to the emergence of a variety of stock market news sources that rival those available to financial professionals.
So what are some of the best ways to get stock market news? Let’s take a quick look at the top 3 stock market news sources for day traders, and then you can decide which ones are right for your day trading needs. Perhaps you can check them against Motley Fool stock.
Stocktwits
Stocktwits is best described as Twitter for traders.
Stocktwits is a social messaging platform that allows traders to post comments on specific securities, and then link those comments to the relevant securities using a ‘cashtag’. Users can then employ a wide variety of tools to browse the available commentary and find actionable information for guiding their trades.
Any trader who is familiar with Twitter will instantly recognize the similarities with Stocktwits. Stocktwits is an easy-to-use open source of information and ideas that is lightly regulated and left to the individual user to navigate.
The drawback to using Stocktwits for your market news is that the signal to noise ratio can be pretty low sometimes. Between the people with an agenda, the people who overestimate themselves and the outright fraudsters, Stocktwits can be a little tough and intimidating to navigate at times.
It takes patience and experience to sift through all the background noise to find the hidden gems of information, and the platform itself offers little in the way of encouraging valuable posts and discouraging invaluable ones.
However, Stocktwits does contain a lot of good information and ideas that would be difficult, if not impossible, to find anywhere else. You just need to wade into the huge number of posts to find them.
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Benzinga
Benzinga resembles a traditional financial news website, but incorporates the latest technologies to allow for a very user-friendly experience.
Benzinga employs staff writers and draws on financial news from other reputable sources to ensure that the site offers a steady stream of high quality and reliable information.
All this information is presented in a way that today’s tech-savvy young people find intuitive and compelling. This is a stark contrast to many other financial news sites that are boring, difficult to navigate and poorly formatted for the latest media technologies.
Benzinga is a great way for day traders to identify actionable trading ideas, but it does tend to focus on the mainstream financial news, which means that the more obscure and cutting edge ideas and analyses can often go overlooked.
If you want smooth and appealing access to the latest mainstream stock market news, then Benzinga is a must-have in your website bookmarks.
Warrior Trading Chatroom
The exclusive access Warrior Trading Chatroom offers users a daily list of actionable trades based on the latest analysis from its professional mentors.
The Warrior Trading Chatroom is ideal for day traders who want to jump right into the hottest trades of the day and be ready to catch the biggest price moves of the day as soon as the stock market bell rings.
The Warrior Trading mentors take the time to compile a list of the day’s hottest trades so that you don’t have to, and then they offer guidance and input on how to trade these hot picks.
The mentors also offer a Q&A feedback session at the end of every trading period, so that users can learn from their experiences that day and be even better prepared to trade the next day’s hot picks.
If you want to dive right into a day trading session using the hottest stock picks of the day, then the Warrior Trading Chatroom is an essential part of your day trading toolkit.
The valuable guidance offered by the professional mentors in the channel makes it one of the best ways to get stock market news that is available on the Internet to the general public.
