AUDJPY, GBPJPY, AUDUSD, etc. and even EURUSD have their runs and then you have intradays for swings like CADJPY and USDJPY; it hasn't been this strong since June of last year. I think forex trading is better when the market is more volatile, I can trade all day without ever getting bored.
also,traders claim they protect themselves with "mental stops". well,i got news for you. i know a few traders that got killed becuse they kept getting stopped out and losing .20 cents over and over. I HAVE TO SAY,I know a few that do extremely well trading but they are a rare breed especially when you have to take consistency into consideration. after all,its a consistent trader that successful not the 10 strike outs and one grand slam type. its the singles and the doubles that add up and keep a good/disciplined trader in biz.
why so many Traders are getting killed? because the winners are like lovers roaming in night and "stealing" while fortune is asleep. to win make sure it is night, and not all are awake.
This is a great point - sector plays usually display much more movement and clarity of trend than the overall indices. Another advantage is that you can go long and short, leaving yourself with minimal exposure to overnight shocks or overall market trends. For example in the last month or so, long biotech, pharma and consumer staples, short commodity sectors has been a very nice trade.
Same here. I still trade the SIF some, which I used to trade exclusively, but I've found it much easier with stocks lately.
Nicely said, Jayford. Though August markets are not my favorites because low volume provides and environment for oddball moves and whipsaws, it has still been a profitable market to trade.
Traders get killed and fortunes change hands all the time. Why is now any different from 6 months ago or 6 years ago?
Makloada's correct. nothing has changed over the last 10 years. 95% of traders lose money over time and 5% win. what those 5% make varies depending on mkt conditions but those are the facts.long term diverisfied holders of stocks and funds over 10-20 year periods make money 100% of the time. and that also can't be challanged
i agree and that is why i say 95% fail. i don't think 95% of those that try and be engineers or librarians fail.or 95% of those that wanat to be architects or mechanics. trading is a VERY VERY difficult vocation.unlike almost any other.