Why Forex is so forgotten?

[Mephis]

Hi to all traders out there!

I was wondering why people like so much to trade in the stock market when Forex seems to be a much better option to earn some money! I'm sure you agree when i say that Forex is more technical, but in the other hand, a trader who knows out to read the signs can do a nice monthly profit.
In the news we see stocks, newspaper.. stocks, magazines .. stocks, etc.. Why Forex is so forgotten? Investing in stocks the company gains, and in Forex noone gains besides the trader himself. Hasn't he the option to choose?

Long live Forex!

 

[Perrington]

I sense someone has had a good day at the office

 

[GotGold]

Mephis,
If you making a nice monthly profit then tell us how it's done.
If your not then wots the point in this thread?

 

[Mephis]

I sense someone has had a good day at the office

Not at all!! I trade Forex for about 1 year. It's not too much but pretty enough to lose all you money, if you're not carefull.

Mephis,
If you making a nice monthly profit then tell us how it's done.
If your not then wots the point in this thread?

There's a lot we can discuss about monthly profits, systems or whatever related. This thread was only intended to brainstorm about this idea of people using stocks to trade rather than Forex. Supposed this could be an interesting subject... sorry if i was wrong.

 

[SvenFoster]

Welcome Mephis,
I don't think stocks are top of the list for most people on t2w but they are with the general public for a number of reasons.
1. The are easily accessible., cost, news etc.
2. They are constantly being pushed by the "industry"
3. They are simpler(sort of)

As for forex, well I definitely think these things go in cycles but FX volumes are increasing all the time.

 

[GotGold]

If you've been profitable over a year, thats a fine achievment.
Waht sort of trader are you?
Time scales, set ups etc?

 

[maxpain]

Hi to all traders out there!

I was wondering why people like so much to trade in the stock market when Forex seems to be a much better option to earn some money! I'm sure you agree when i say that Forex is more technical, but in the other hand, a trader who knows out to read the signs can do a nice monthly profit.
In the news we see stocks, newspaper.. stocks, magazines .. stocks, etc.. Why Forex is so forgotten? Investing in stocks the company gains, and in Forex noone gains besides the trader himself. Hasn't he the option to choose?

Long live Forex!

Forgotten? Isn´t a daily turn over of $3 trillion enough?

 

[GotGold]

Lol!!!!!!!!!

 

[starspacer]

I think that what you mean to say Mephis is that, with trading costs for major currencies being so low, why doesn't FX trading have a higher profile.

The answer is that there exists far more vested interests in trading companies rather than currencies. Go to your local bank for investment advice and they are not going to advise you to take out a short dollar position. Why not? Simple really, no commissions payable to them.

In my opinion currencies can be traded very lucratively. The costs are next to nothing, and if you play the trend (for example, traditionally the dollar comes under pressure approaching an election), then you can do very well.

The key of course is identifying the trend at an early stage, and that of course, is the 'holy grail'.

 

[JTrader]

Hi Mephis

I'm not sure that forex is way behind stock trading, index trading etc in terms of popularity.
Just look at the number of forex related threads on these boards as a clue.

Cheers

jtrader.

 

[Mephis]

Forgotten? Isn´t a daily turn over of $3 trillion enough?

I wasn't speaking about intrabanking exchanges and the amount of dolars (or other) the government spreads into the market. I was refering to the small invertor like us.

lol!!!

Always ready to criticize, hein? If you can't do better you shouldn't do nothing at all.

To others:
Indeed commissions are very important to banks and brokers. Forex is known as having no commissions besides the spread, which is in most cases almost nothing.
I also agree that people are moving from stocks to Fx, but it will take a long time, if it ever happens, to have more Fx traders than stock traders.
For example.. in Brazil there isn't any broker or bank to trade Fx. In Portugal there is only one with very high spreads, etc.. if you want to trade Fx, you have to open an account in a foreign broker. Nothing special about that but fells nice to have then nearby in case something bad happens.
Well .. there's a long way for fx to evolve and specially some traders.

Mephis

 

[GotGold]

I'll get my coat........

 

[aussie2242]

im new to fx, whats the best place to learn about the game. and what is the good money really worth. how much is realistic to earn from it..

 

[Fxsigma]

This is a good place to start, try moneytec forum as well just pay no attention to all the flamers around. a realistic expectation well that all depends on the person i can make consistent 10 pips a day no problem but i try to push myself to achieve more so or so then not i attain anywhere from 75 too 150 pips per week on average.
take into consideration that i am a very patient trader and dont enter into anything that i have less then 80% certainty of market direction. cant win them all but catch 2 or 3 good moves a week that will do just fine.
Trend is your friend until it bends

risk plays a major role in how much you intend to earn from the market. i risk 5% of my equity per trade most people would think this is too high but this is where i am comfortable trading.

i recommend picking up "getting started in TA" by Jack D schwager
there is also many good resources online without needing to buy any books.

Cheers.

Happy Trading