If you are a forex trader or planning to become one, you must be doing a lot of research to know about the fast-moving currency market and how it functions. There are a lot of things to know about as a Forex beginner, and demo trading accounts can be used as a powerful learning platform. There is another learning platform which is just as free as a demo account, and the one we are talking about here is social media platforms, providing tons of information about the forex world. But for this, you need to find the social media handles of professional people who are associated with the forex world. We can refer to them as Forex Celebs, and these are not just ordinary Forex influencers but experts with in-depth knowledge they have gained from hands-on experience in the Forex market.
Knowing and following such knowledgeable people allows you to learn from them and get a glimpse of their thoughts on the changing market conditions. The forex market always undergoes changes, and you can make better trading decisions by considering the opinions of an expert on the changing trends and key economic news releases. You can find these experts sharing their views on popular social media platforms.
In this article, I will introduce you to the top 10 active forex celebs on Twitter, along with some important things to remember while getting into forex trading.
1. Linda Yueh – @lindayueh
The first name in our list of top 10 forex celebs is Linda Yueh. We often hear that not many women are interested in forex trading, and there is not enough female representation in the world’s largest trading market. In that case, Linda Yueh’s name is a friendly reminder that women can also be a part of the forex world, and they are also making valuable contributions to breaking this gender stereotype. Linda Yueh is an economist at the University of Oxford and has extensive knowledge about the currency market and its fundamentals.
She is also an author, and the book called ‘Great Economists’ is one of her renowned works that you should consider reading to enhance your knowledge. The book talks about some of the best economists of all time and how they played a key role in shaping modern trading practices. She is very active on Twitter and currently has over 74k followers. She always shares important pieces of global and economic news, which has an impact on various financial markets, including the forex market.
2. Paul Krugman – @paulkrugman
The 2nd name in our list of top 10 forex celebs is Paul Krugman, who is a Nobel laureate economist with a lot of experience and expertise to share with the world. Besides being a renowned Economist with 4.5 Million Followers on X (Twitter), he is also an author and editor of 27 books. “The Return of Depression Economics” and the “Great Unravelling” are 2 of his best works.
He keeps sharing his analysis of various economic reforms and the latest relevant events for market enthusiasts. You will be getting unbiased opinions and views from an expert, which can help you increase your knowledge and grow as a forex trader. You can easily find him as he has a verified account with a blue tick on Twitter (Now X).
3. Joseph LaVorgna – @Lavorgnanomics
Joseph LaVorgna takes the 3rd spot in our top 10 Forex celebs list. He has served as Chief Economist and Managing Director at the Deutsche Bank. At present, he is a Wall Street Economist with regular appearances on CNBC. He often tweets about key economic data releases and their possible impact on various financial markets, including the forex market. He has more than 32k followers on Twitter (X), and you can also think about following him to keep yourself updated with relevant news and data releases.
4. Angie Setzer – @GoddessofGrain
The 4th one on our list is Angie Setzer, another female trader you can follow on Twitter (X). Her special interest is in commodity trading, and she always keeps posting about wheat and corn trading. She is also vocal about her dream of building a business to empower farmers along with independent agricultural businesses around the US and Canada. You can follow her to get updates about these topics and forex. She has more than 46k followers on Twitter (X).
5. Liz Ann Sonders – @LizAnnSonders
The next one on our list is Liz Ann Sonders, and she has around 387k followers on Twitter (X). Being the Chief Investment Strategist at Charles Schwab & Co. She frequently tweets about key economic releases and shares her thoughts about various investment options.
6. Howard Lindzon – @howardlindzon
The 6th one on our list is Howard Lindzone, with over 279k followers. He regularly tweets about the events and news in the forex world. To give a brief background, Lindzon is one of the co-founders of Stocktwits, which was in Time Magazine’s 2010 list of top 50 websites. His daily business podcast called Wallstrip was acquired by CBS in 2007.
7. Sven Henrich – @NorthmanTrader
The 7th one on our list is another business owner. Sven Henrich, who is the founder of NorthmanTrader.com, has around 457k followers and regularly tweets about macroeconomic news releases, along with information about trading tools for technical analysis and practical trading tips.
8. Holger Zschaepitz – @schuldensuehner
Holger Zscaepitz is a Germany-based market analyst who has over 320K followers. His account is the perfect place to get a solid analysis of the EU market. He is also working as the senior editor of Die Welt for their financial section.
9. Urban Carmel – @ukarlewitz
Urban Carmel is another famous forex celeb that you can follow for trading tips and valuable market insights. Being an industry veteran and author of an award-winning blog, ‘The Fat Pitch’, you can count on him to get relevant information.
10. David Powell – @davidjpowell24
The last one on our list is for traders who prefer Euro pairs, as David Powell is a senior economist of the Eurozone. He is also the author of the book ‘Trader’s Guide to the Euro Area. You can follow him to get ECB-related updates.
So, these are the top 10 Forex celebs you can follow on Twitter (X). But blindly following experts won’t lead you to success in forex trading, as you also need enough knowledge and skills to make sound decisions on your own.
Things to Keep in Mind During Forex Trading
- Make Informed Decisions Using Trading Tools: There are many free trading tools that you can rely on for making informed trading decisions. These tools can help you determine position sizes, calculate potential profits and losses, and assess risk. You can get accurate and instant results for all trade-related calculations by automating these calculations.
- Understand the Market and Currency Pairs: Before becoming a trader, you must learn about the market and the currency pairs you want to trade with. Each currency pair has its own unique characteristics and factors affecting its prices. Familiarise yourself with factors that influence exchange rates, such as economic indicators, geopolitical events, and central bank policies.
- Trading is Inherently Risky: Even the most successful and experienced trader is exposed to the risk of losses in the volatile currency market. You can’t expect to make any profit from trading without managing the risk. You need to take calculated risks based on your risk tolerance because taking excess risk as a beginner can lead you to huge losses, so you must be mindful of the risk before entering forex trading.
- Continuous Analysis: When you become a forex trader, you should be ready to engage in continuous analysis. You need to keep a close eye on the market and always be prepared to adapt to changing conditions. Fundamental and technical analysis can help you make informed decisions. So, stay updated on economic events, geopolitical developments, and central bank policies that can impact currency values.
- Emotional Control: Emotional control is one thing that you need to learn before entering the forex market as a trader. Emotions can lead to impulsive and irrational trading decisions. Greed, fear, and overconfidence can cloud your judgement. To maintain emotional control, consider using trading tools like limit orders and take breaks when needed to clear your mind.
Finally, besides these 5 points, starting with a demo account is important to hone your trading skills in a risk-free manner. As you become more comfortable and consistently profitable, you can transition to a live trading account with a small amount of capital. But keep in mind that forex trading doesn’t guarantee fortune, and losses are a part of the game, especially when you trade with greed or fear. Patience, discipline, and continuous learning are key to trading success, so always follow these while trading.