I currently trade equities, but have been playing around with some forex demos in the evening lately. My equity trading consists of fundamental analysis as well as technical, depending on the time frame. If you would let me, I wouldn't mind picking your brain on some forex topics. Question #1, are you an exclusive cable trader?
That's good, you've got trading experience. Although I haven't traded equities I believe similar TA can be equally applied to forex, I don't think the transition is too great, have you found that? Fundamentals are probably a different story, the forex market can sometimes react unpredictably to data in the short term. At the end of the day it's all trading and the same basic rules apply, you probably already know that. Feel free, for what they're worth! If I can't answer something then I'm sure there's someone around here who can. I'll trade anything that moves, not just cable, sterling is just my home currency. For intraday scalping I prefer pairs with a narrow spread for obvious reasons but I went through a spell of Eur/Aud a while back (6 or 8 pip spread) which was still ok despite paying 8 pips for just a 5 pip return sometimes! Out of interest what made you go for an unregulated 'wild west' market like forex, I thought you equities guys were making a killing in this rally! Too easy huh, needed a challenge?
Well, I haven't exactly decided to go into the forex market yet, right now I'm just testing the waters on demo. This has been a good year in equities, for sure, but I am no expert trader myself. I make a decent living, but an unstable one. My reason for dabbling in forex is the ability to trade 24 hrs with great liquidity. I live in Canada and my background is in accounting and economics. What time of the day do you find best for your trading? Why? The overlap sessions seem to be most preferred in general, is this true for you as well?
Usually between around 7am and 4pm (2am - 11am EST), it's the most active time plus I live in UK and I don't like trading in the middle of the night
Missed a couple big moves on the way up, but grabbed a few small ones. May see a pullback before .9000 (near .8980?), but no shorts yet.