I have a question to professional forex traders,
I was wondering if you did have a silmilar level of experience and knowledge about stocks, bonds, commodity, derivative market etc…,…
Once I become an advanced forex trader, would I be able to learn other markets more easily and quickly? Or shall I learn those market along with forex market?
I’m a 2nd year maths student who want to become a quant trader in far away future.(5th grade in pipsololgy:D)
I have traded stocks for over 5 years with an avg of 9.6% return. I’m conservative because I do construction work during the day. I’m not able to get in and out of positions quickly. Anyway, I have so far found no carryover of this knowledge into Forex. I’m at 6th grade, had a demo account where I’ve turned 50,000 into 80,000 and have no clue what I’m doing! People use the term fundamental trading, but I haven’t found what the ‘fundamentals’ are with Forex. In stocks, you can look at the company’s management, products, competitive advantage, as well as merger or acquisition potential. In Forex, after five months, the only fundamental I have found is when markets are up, Forex tends to go down. I read the news and it has arbitrary affect. Last night, Japan’s GDP number was terrible, why below expectations. The USD/Jpy dipped slightly but remained basically flat. So I would have to say no.
Thank you, Benny.
Having traded just about anything an individual trader is likely to trade I will provide this blinding insight:
It depends.
Methodology plays a big part in the equation. If you’re a chartist then you’ll probably be able to carry things over from market to market without too much difficulty. If, however, you use more market specific techniques it will take a more work. The basic understanding you have for the way markets work, though, will make things less onerous adding new markets.
Thank you very much!
Really understand how the global financial system works.
If you really figured out the global financial system you can trade any market.
And don’t listen to analyst. Trust only what you see with your own eyes.
You gonna look at markets as one entity and not fragmented. Most people don’t do that.
I hope I can meet someone who figured it out. Yeah…it doesn’t sound right that I just follow analysts’ views. I will try to think about any info I come across at least one step further all the time. Thanks for ur advice, Cas.
Figure it out yourself through careful observation. Just observe what the markets do when x pair goes up and y pair goes down with z commodity doing nothing and equities shooting to the moon…