what is it? i mean, i know what it is, but, how do you trade it? EUR/USD for example. do you just look at it, set some targets and trade near support and resistance? What do you look for? Consider this a beginners thread and question. Thanks!
take this free system in first post https://www.elitetrader.com/et/threads/technical-analysis-dax-signal.303564/
It is hard because it is more choppy and less trendy , at least picking stocks you can get rises of 200 to 1,000 % , so your risk reward improves. In forex there is no appreciation , so your risk reward increases. let us say you risk 50 points in fx for 50 profit , in stock you can get 500 for 100 = rr 5
Is there anything to how many posts one has to duration when first signed up to ET? Churn and Burn. ROFLMAO "rises of 200 to 1,000 %" so penny stock buyer, yea real conservative to offer other newbies.
Because if you trade the nearest month's Euro futures instead of EUR/USD, volume is available as well. The correlation between price movements in the EUR/USD and price movements in the nearest Euro future is about 99.9%, so the question you need to ask yourself is whether you want to trade the same thing with volume available, rather than without it being available. Not a very difficult decision, really. People trading EUR/USD against counterparty market-makers in the spot forex arena are those without enough working capital to trade futures. If you have that, there's no advantage in trading the EUR/USD. And now we'll doubtless see whether anyone finds this view "contentious".
Only time I trade forex are pairs that are not common and going to stay in them weeks or months. Biggest con of Forex is never paying a commission as often you pay through the nose on pip spreads.