Moving from stocks to fx ...

[Attila the trader]

What should a trader know when moving from stocks to Forex ??

 

[Attila the trader]

Personally, I don't know any tips to help you to move from stocks to Forex. But I can write some tips about work on Forex.
One of the reasons leading Forex traders are successful is that they need time to choose their brokers. With a good and trustworthy broker you will win half the battle. All you have to do is get as many good recommendations as possible and choose a licensed broker that fits your trading needs.
The mistake that most beginner traders make is that there is no action plan. It is important to come up with a clear and realistic strategy on how to trade and what your expectations are. With this plan, you can maintain your trading discipline.
While this may seem ridiculous, it is true that stress can affect your trading. Even experienced traders will tell you that stress can lead you to make irrational and reckless decisions. If you can, don't make any trading movements while under pressure. There are many ways to avoid stress, including listening to your favorite classical music or even training. Focusing on something else can help you get back to trading with a clear mind.
These are some basic tips for a newcomer to Forex that will help you get used to it faster and start trading profitably and successfully. In fact, it isn't difficult to learn it, the main thing is to have a desire to get better)

is there something thats very different when trading fx when compared to stocks ?

 

[Delilah_10]

What should i trader know when moving from stocks to Forex ??

Prefer to trade majors.

 

[Attila the trader]

Liquidity leads to tighter spreads and lower transaction costs. Forex major pairs typically have extremely low spreads and transactions costs when compared to stocks and this is one of the major advantages of trading the forex market versus trading the stock market

what about leverage

 

[Melodiousmelody]

what about leverage

Do not use high leverage if you are new. use as less as possible to keep risk in control.

 

[awllee]

It's much faster moving....
1. Select a regulated broker
2. Decide if you're going to be a manual trader or algo trader
3. Learn the platform
4. Demo before you go live
5. Stick to the Forex majors (to start with anyway)

 

[Attila the trader]

Do not use high leverage if you are new. use as less as possible to keep risk in control.

isnt volatility too low to trade without leverage ?

 

[Attila the trader]

It's much faster moving....
1. Select a regulated broker
2. Decide if you're going to be a manual trader or algo trader
3. Learn the platform
4. Demo before you go live
5. Stick to the Forex majors (to start with anyway)

do you know brokers fro non us traders ?

 

[Henow1969]

Always learn the basics of that business you want to start. Also learn technical analysis before start Forex.

 

[FXX]

with fx it is all about news flow, economic data, central bank policy, and cross market flows. Technicals can get you into trouble if you do not understand why price is moving and technicals do not alert you to risk events (economic releases, monetary policy, political news). Without understanding this stuff fx trading becomes much more difficult and less likely successful.