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Coming from Stocks…here’s what I appreciate about the Forex Market.
By Sean Hyman | May 8, 2009
My original background was in stocks. I thought it was the greatest market in the world…and still have long term investments there. However, if you’ve started there, you have a HUGE appreciation for the Forex market.
Why?
Because you’re able to trade 24 hours a day, not just 6 1/2 hours (during hours when most of the U.S. is at work doing their “day job”.
Because there are NO commissions, only a spread to pay (which stocks have also).
Because the volume is so huge that fills are so much better and slippage is reduced (even on market orders). Place a market order in stocks and place one in forex and you’ll immediately appreciate the difference.
Because data is based off of a country’s fundamentals and not a CFO’s version of how they’d like their books to read. So fundamentals are much more “sound” in forex, in my opinion.
I can get far more “technical signals” and entry opportunities because of the 24 hour a day market.
Because real time charts are free, real time quotes are free and I can get free research…even before I have a live account.
Because I can demo trade off of LIVE data and not a simulator.
Because I can demo trade and get used to the “mechanics” of a trading platform before risking live money in it.
Because I can start with a relatively small balance vs. stocks.
Because I can trade several times in a day and I”m not considered a “pattern day trader” and forced to carry a balance no lower than $25,000 (like in stocks).
Because I can earn DAILY interest, not just quarterly…like in stocks.
These are all some of the top reasons why I became a forex trader. So from the view point of a former stock trader, I figured that any of you that came from the same background could appreciate it AND any of you who didn’t might know that forex could be a better place to start for your “trading”. Get a free practice account here…so you too, can see why I love this market so much: http://www.fxedu.com/practice-forex-account
Sean Hyman
Tags: account, charts, data, demo, forex, forex market, free, fundamental, interest, invest, live, lower, money, quotes, real time, Sean Hyman, ssi, stock, stocks, technical, trade, trader, trading, trading platform, U.S., volume
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