I trade listed and even though I'm not happy with the slippage and abuses, I'm definitely not gonna drop everything and start trading Eminis and Forex. I still pull out money out of NYSE, I'm used to it and do see even more potential to make serious money. NYSE may be an inferior market but I have an edge to it, I'm able to adapt to it and I'm getting better at it. If I was able to take that experience and translate it to FOREX and Emins, would I? In a second. But it's not that simple, so I take the cautious road. I watch the S&P and SPY everyday and I would not know what to do half the time. The smart trader will explore other options but will not jump in head first into a new financial instrument. The idea that just because Forex is a superior trading market means that the average trader will make a bundle in it is for suckers. ES is a superior market with great liquidity, moves and no uptick rules. Yet, most lose their shirts due to the competition and foolish expectations. Great traders will make it in any financial instrument but as they size up, it makes sense to aim for bigger markets like ES and Forex. Like they say, if it was easy EVERYBODY would be making money in [enter your favorite trading vechile]
I've been real time trading two mechanical stock systems since 11/02. They have done better since going live than they did in the previous 8 years of backtesting. I see no reason to quit trading stocks and I see no lack of great opportunities. m
Good traders can make money in any market. Doesn't matter if its currencies, indexes or ebay jewelry. Give Tiger Woods a set of $100 golf clubs and he will beat the pants off me any day of the week.
I don't really think I am a moron or a fool. I do just fine trading currencies and I trade them full time. You seem to be full of anger and frustration. Is this because you cannot make consistent money trading fx? Or are you too scared to try? Or is it that you know you'll lose if YOU try, whereas a trader such as me makes money all the time, therefore in YOUR mind that makes me a "fool" and a "moron?" TO
Again, you've stated another sensible post, Mecro. I think you are right about good traders making in the markets they choose to trade. Forex does have superior liquidity and greater moves, that enables a trader who knows what he is doing to make money. I go for the consistent and steady gains (and get them) as opposed to traders who go for the get rich quick trade who never do. Other traders, though, who don't have it together can get wiped in an instant. So it may be better for the *lightweight* guys to keep away from the battles of the big boys in the forex markets and rather just label them as fools, gamblers and morons. Cheers, to