Better at FX

Discussion in 'Forex Trading' started by cashmoney69, Mar 22, 2007.

  1. For those of you that traded stocks prior to FX...do you find that

    trading forex has made you more successful as a trader..if so,

    why?
     
  2. :mad:
     
  3. My experiance in trading SEBL, QQQQ, MSFT back in the day helped me to learn how to trade, but as far as FX is concerned, the only way to learn was to trade. If you want to learn how to trade, trade QQQQs using Noodles as a precursor, swing trade at first so execution is not a big issue and so you can avoid the PDT rule. Play with FX, minis if you must, try oanda or efx, and be prepared to lose you fx stake quickly.



    The Ever Helpful VIPER
     
  4. What's is 'Noodle" ? Curious :)
     
  5. NQs




    The Ever Looking Into The Future VIPER
     
  6. Quote from cashmoney69:
    For those of you that traded stocks prior to FX...do you find that

    trading forex has made you more successful as a trader..if so,

    why?
    _____________________________
    Hi! Cash:
    Not really more successful... but a big EYE OPENER: STOPS, STOPS, STOPS, the minute you enter your orders. (Did you see the terrible drop of USDCAD March 20?)
    In that respect, FX make us more disciplined.
    Best!
    mF
     
  7. Learn from the futures put your stops in first, document everything and it helps you understand where you made your mistakes so you don't do them a 2nd time.
     
  8. nampooya

    nampooya

    noob question,how are taxes on FX,like stocks,UHG!or P/L like futures.thx
     
  9. infooo

    infooo

    hey cash my experience is that stocks and hell even ES and NQ are way easier to trade

    but having said that the real money lies in FX volatility

    now I don't recommend FX to anyone who doesn't have a pretty solid bird in the head

    (no I am not referring to cranial implants done by GOV or ETs)

    okay moving on

    do FX only if you have a pretty good idea of support and resistance or supply and demand.
     
  10. ask yourself this question...does this fine example of a Forex firm send 1099 Int's? They have, well... "shall we say uhhmm..offices", located where?

    www.northfinance.com ?


     
    #10     Mar 23, 2007