(referring to 1h and 4h and daily timeframes in forex, as my impression is that these time-frames aren’t too difficult to succeed at)
i know share traders who trade trend following strategies on the daily time frame. shares aren’t ‘correlated’ as such like currency, so on a night they can launch a few trades from just one basic setup. but with currency, my impression is that i would have to wait some time b4 launching my second trade as you have ‘correlation’ to deal with. so i would wait till the first forex trade’s stop loss gets to break even, then find another trade. so it seems like profits would take longer to turn over than shares (from the waiting time in between forex trades). however, I could focus on having a few 4h and 1h timeframe forex trades and this would make the money turn over faster (trades run faster, and less waiting time ). correct?? furthermore, these trades (1h and 4h forex) would run faster than daily timeframe share trend trade setups.
I think when you approach trading with the mindset of ‘quicker’, the only quick thing you will achieve is losses.
I agree with thelastbear,
You are focusing to much on “getting rich quick”
The difference between stocks (shares) vs currency is liquidity. Currencies are more liquid and are told to be more technical focused than stocks. But with the right plan you can make just as “quick” money in currencies as in stocks.
not trying to get rich. just have little money , that’s all. and (for various reasons) don’t work much. so i would like to trade as a little job at home. with stocks and trend following on a daily timeframe, trades can take about 3months to yield something like 3R profits. but if i can get a forex trend on a 4h or 1h timeframe (my impression is that these timeframes aren’t too difficult to succeed at ) than that will help me out a great deal.