I don't know why anybody in their right mind would want to be a forex trader.
Originally Posted by Placebo
Forex never closes.
Originally Posted by peat
the reason I chose forex is because it is a 24 hour market which allows you to trade outside of the day job, AND because I wanted to give myself the hardest challenge so that when I succeed I will be able to cut it in any market anytime - this goal is also why I chose to become a purely technical trader.
For instance the perfection of the market due to massive liquidity. Few gaps mean almost guaranteed stop losses.
What other things are there positive about forex. So many i reckon.
Very low commissions
Good range of technical analysis programmes
No gapping
Trends very well (according to several books I read)
As much or as little leverage as you want with minimal cost
Able to hedge your own expenditure
24 hour markets mean you can place orders after work
Cons:
Some FX brokers are dodgy
High short term volatility means it is harder to place decent stop losses
24 hour markets mean you have to rely on limit orders or scripts a fair bit
Disclaimer: Do not take my posts seriously. They are only opinions.
I am still learning about the Forex market. Most of the movement does not make nay fundamental sense. You just have to go with the trend. Abit like PAris Hilton fan club.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
I am still learning about the Forex market. Most of the movement does not make nay fundamental sense. You just have to go with the trend. Abit like PAris Hilton fan club.
Although there are fundamental issues that obviously have a bearing
on currencies, for short term trading TA is better suited to FX in my opinion.
I didnt realise you were a member of the PAris Hilton fan club
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