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PipCollector

Biedrs kopš Jan 05, 2010  92 ieraksti PipCollector Jan 18 2010 at 08:34 (labots Jan 18 2010 at 08:34 )
You can't compare ticks in fx and stocks, since these are 2 different instruments with totally different natures, but I think in fx the equivalent to 1-3 ticks stop would be 10-30 pips.

Why do you say trading fx air is like trading air? Of course the currencies are moving as a result of economic releases, and supply and demand, which is exactly the same reason stocks move.

Patience is a virtue.
Chikot

Biedrs kopš Jan 14, 2010  2196 ieraksti Chikot Jan 18 2010 at 08:38
agree. I was thinking. 1 tick is 1 cent. 1 pip is 1/100 cent.
so, if I scalp stocks and I am allowed only up to 3 ticks loss it mean relatively 30 pips in FX. But anyway, I notice, the moves are quite different. At least I feel it is easier to determine short term move in stocks in comparison to FX as I have my Level II and Orders window and especially volumes.
I mean by trading air that stocks/ commodities represent something real like company or commodity that has real value while currencies are paper money and has no such real value attached to them. They are being printed now with a speed of light.

Chikot

Biedrs kopš Jan 14, 2010  2196 ieraksti Chikot Jan 18 2010 at 08:40
regarding FX trading I am absolutely paranoid about cutting losses. It was enough for me to lose once 70% of my $100 account and I got it right away. I am risk control nut. But on the other hand I take profits too early as well. Which obviously is not good.

PipCollector

Biedrs kopš Jan 05, 2010  92 ieraksti PipCollector Jan 18 2010 at 09:46

Chikot posted:
    regarding FX trading I am absolutely paranoid about cutting losses. It was enough for me to lose once 70% of my $100 account and I got it right away. I am risk control nut. But on the other hand I take profits too early as well. Which obviously is not good.


I think you've hit the nail on the head - the way I see it is, you can lose money on fx much faster than trading with stocks or any other markets.

I believe the leverage factor acts as a catalyst both for success and failure, although we know that most fail, and even the successfully ones fail at least at first.

The recent CFTC suggestion to limit the leverage to 1:10 might just change it, and although many see it as a bad move, I do agree with it in part - the fx industry is just like a casino with almost no limitations; just deposit money and start gambling.

The best way to go is limit the leverage until you find your edge, and gradually increase it (if needed). At the beginning it will feel just like stocks, as with no leverage or low you will need to have some big moves go against you to even feel it.

Patience is a virtue.
Elkart

Biedrs kopš Aug 01, 2009  941 ieraksti Elkart (Elkart) Jan 18 2010 at 10:49
Chikot,

Trading fx might not feel real, but the green certainly does in your pocket!

I think fx teaches all the right lessons, you once you can trade it, you can trade anything.

Chang beer is evil.
PipCollector

Biedrs kopš Jan 05, 2010  92 ieraksti PipCollector Jan 18 2010 at 12:32

Elkart posted:
I think fx teaches all the right lessons, you once you can trade it, you can trade anything.


I must disagree with you on that one. It's like saying once you're a rocket science engineer, you can engineer a car.

I believe different markets require different tools even though the general approach can be similar.

Patience is a virtue.
Chikot

Biedrs kopš Jan 14, 2010  2196 ieraksti Chikot Jan 18 2010 at 12:49
I think it is easy to lose money quickly in both stocks and Forex, but leverage factor is obviously here.
My leverage per each pair is always 1:1. I use no leverage to make higher returns.
In stocks you can open position with say 10 000 shares and let it run when it is against you ;)
I think results would be similar to trade FX with high leverage.


And yes to Elkart.
If you know how to trade FX, by which I do not mean grid and hedging, you absolutely can learn to trade stocks much faster than someone who just started trading stocks.
Imagine, we trade FX blind, we have no information, while those who trade stocks and commodities do have a lot of useful information. We use S/R and pure price action to trade. It helps a lot.

pc8multifx

Biedrs kopš Sep 04, 2009  861 ieraksti pc8multifx (pc8multifx) Jan 18 2010 at 15:34
U get the same useful/useless information for FX. As long as u consider yourself 'blind' trading u should stay away from this market. Stay with soya beans...grin

Chikot

Biedrs kopš Jan 14, 2010  2196 ieraksti Chikot Jan 18 2010 at 15:42
I am not blind but FX market is considered 'blind' as there is no orders and volume information.

I see what I need to see to make $$$. But volumes and orders obviously would be very helpful.

pc8multifx

Biedrs kopš Sep 04, 2009  861 ieraksti pc8multifx (pc8multifx) Jan 18 2010 at 15:58
Try FXOpen ECN, they offer level 2 volume, whatever this is. I don't need it to make $$$wink

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