i find that currencies don’t trend well, unlike commodities and stocks.
if the trend following system doesn’t work, what does? most of my friends who are succesfful in forex trading do scalping. but staring at the screen everyday is not my style. i prefer swinging.
Everytime I need help with my forex trading, I always go to this site. Mario Singh of FX Primus provides daily answers to different questions. Big help for forex trading for beginners.
In stock trading , you cant control the company that represents the stock. If there is bad management, you loose and you cant do anything besides taking the punch in the stomach.
On the other hand, in Forex, you can control your position and lead it to profit.
Scalping is impossible, in the strict terminology sense, in FOREX. There’s no accurate volume in FOREX since it is decentralized. Really, FOREX has the appearance on the surface as being any other market, but in reality it’s quite different and operates under completely different mechanics to stocks in terms of the retail traders perspective.
You have no more control over the direction and magnitude of FOREX movements than you do stocks. In fact, you have less. At least with stocks there is the possibility of having enough volume to move the market… you will never have this in FOREX.
Forex is tied to options that are traded on the cme and nymex. Accurate quoting of the underlying option is key data which may have to be paid for. Stocks are also heavily influenced by options.