Coming from the equities/stock market world, I have tried to pass aside all assumptions of any similarities between that world and the FOREX world to prevent falling into a false sense of knowledge.
I do however see a lot of similarities with the technical side of the house in FOREX vs stocks. For those of you that do both, do you use the same kind technicals for both worlds or not? What would you say are some differences in technicals between the two?
Hello and welcome.
I trade both equities and forex, and I am not the only one trading both here - Lexys and Turbonero are but two forum users doing both.
As I trade everything through the same broker, everything looks and feels the same - charts, indicators, etc. - so I apply the same concepts and approach for levels and technicals…
What broker do you use PMH ?
There really is no difference in the application of tech analysis across [B]any [/B]type of instrument, in my experience.
Support is support.
A channel is a channel.
A breakout pattern is a breakout pattern.
W/ equities, you will get volume though- FX, not so much.
Aire on the side of caution where instruments have low liquidity and subsequently trade on high volatility.
I don’t m,inds if both has corelation directly, technical analysis on forex and stocks I think is same way which also stil use indicator and chart paattern to analyze trend market, maybe that distinguishes is about volume transaction on forex might larger than stocks market
I always have done, anyway (“for I know no other”) - but I [I]think[/I] most people do.
Not quite sure. I suspect that most of the minor differences will relate to RTH, really. Forex doesn’t “gap” other than on a Sunday-night/Monday-morning open, possibly, whereas stocks of course have daily opening and closing prices five times a week.
(I actually trade stock index futures, not individual stocks [I]per se[/I], and they trade about 23 hours per day, though most of the action is during the RTH of the underlying, of course).
FXCM…they offer metals, commodities, equities, and FX