[januson]

Is there any difference between trading currency pairs or trading stocks? I'm thinking in terms of technical analysis and trading indicators?

I'm very new to forex so please understand any eventually stupidness

[OAC]

(1) Once inside a trendy move, sometimes the currencies have very shallow pullbacks compared to equities. Another word, they can be very over-sold and stayed very over-sold for an extended period of time.
(2) On a micro time frame, lets say on a one minute chart or 15 seconds chart, the currency price action can be very erratic.
(3) Because there is no centralized exchange for the Forex, as far as I understand, there is no actual volume information or tickcharts

[daedalus]

You can do tick charts on any spot pair (i.e. EURUSD). If you want actual quoted volume you'll have to go to a regulated contract on the CME (i.e. @EC).

Very different markets.

I think for learning how to do technical analysis Forex is a better alternative. You don't have to worry about finding a new stock to watch and analyze, you can just focus on one currency pair and leave it at that. There is also a lot of forex-specific education available for new traders, and I feel MUCH MUCH more is available for the noobie in materials for Forex than in equities.

[januson]

Thank you both.
I've found BabyPips, do you have other good places?

Why is the volume gone in spotpair?

[sevensa]

Originally Posted by januson »

Thank you both.
I've found BabyPips, do you have other good places?

Why is the volume gone in spotpair?

If you read the forex forums on here, you will find several discussions about volume, or rather lack of, in forex, as well as a lot of other really good threads. I'm surprised you haven't read them already.

[pluto7up]

Originally Posted by januson »

Is there any difference between trading currency pairs or trading stocks? I'm thinking in terms of technical analysis and trading indicators?

I'm very new to forex so please understand any eventually stupidness

I think Technical Analysis works much more better on Forex. Don't know why, probably because it's 24-hour live, or for stocks, fundamental analysis is more important.

[rangerdoc]

IMO, price action is forex tends to be pretty much symmetrical. If you flip a chart of EURUSD upside down, you really don't have to change your system to effectively trade it. I've found that good mechanical systems for forex usually have the same parameters for long or short.
Since stocks as a whole tend to have an upward bias. Price declines in stocks tend to behave differently than rallies. I've found that mechanical systems for stocks can often perform better with different parameters for short vs. long.

[Flojomojo]

One point apart all the rechnical stuff I oversaw when I decided to go for Forex daytrading was:

The 24 hour market puts A LOT of psychological stress on you! Things like 'you go out for dinner, come back and see the move you've been waiting for all week has started without you' will happen frequently. And this is only one example of the mental challenges you will face. I hope you can cope with them.
Regular market hours, like exchanges deliver, give you peace of mind before and after the bell...Forex will occupy your mind around the clock. If you are an end of day trader all this might not be relevant to you though.

All the best for your decision,
Flojo