Question regarding a quote about forex trading. :p

[kingen]

Hi,

I read this quote on the net a few weeks ago. "If you can make money in the currency market, you can make money in any market". I do not remember who said it but I belive that it may have been Soros.

So, my question is this, Is there some weird things that sometimes happens in the forex market that does not happen in other markets? When I applied my stock-trading method to forex trading, I found out that it was much easier than stocks. So I'm kinda freaked out and scared of potential freak-like behaviour of the market. Since I'm new to this game, I don't know what to expect.

[pipjunky]

Howzit Kingen

I also came from the stock market background initially, found fx easier too. When i showed FX to my buds who traded stocks with me they were also freaked out sayin somethings up.
However there is 1 difference for me I did not trade stocks leveraged, leverage i think changes the game and invites his common team mate GREED.
I think greed is the one of the biggest killers of FX newbies they get greedy and emotional & when things turn bad they try to ride out their bad position and end up losing large sums of capital very quickly thanks to their emotions and not the system they use.

Test your system on that demo account, keep your eye on potential event hazzards like cpi, gdp same thing as stocks watch those data releases.

I think if you were in the 5% of the stock market who make money then u will become the 5% who make money with forex.

Good luck, Catch ya later.

[toptick07]

Hey kingen,
An observation to offer: Small moves in percentage terms will devastate an under-capitalized, over-leveraged account. This degree of leverage is not available in equity markets (not even at prop shops). "News trades" skew you analysis greatly.

Curious. How do you approach your equity trades? What time frames do you watch?

Good points, pipjunky. Leverage is a killer - especially for the uninitiated.

Best...

[kingen]

When I was trading stocks I was sort of what the forex people call, a scalper. Trading by the ticks.

I'm very carefull with my feelings, and allow myself to concern about nothing but my system. Greed is not a problem, since I'm not one of those who where drawn to the markets for gambling purposes.

Pipjunky made a excellent point by the "event hazzards", I just found out. On my demo I was trying out my system, and then everything went straight to hell all of a sudden. Partially my own fault for using to large time-frame, but mostly I blame the news.

Thanks for the replies.