Trading forex vs equities

[momothebored]

Hello

Have never traded forex before.
Have been trading equities for a while, and generally, quite disappointed.

My setup is purely Elliot Wave / Fibonacci swing trading.


(i) Is it easier to trade Forex generally than equities?
i.e are liquidity, volatility generally non-issues in most pairs?

(ii) What kind of risk management techniques are being used?

(iii) Do you need to spend a lot of time staring at the screen daily if you're trading for a living? How does a normal day go?

tyvm

 

[AuthenticFX]

i) Is it easier to trade Forex generally than equities?

– I find it much easier, especially because the market is open 24 hours at a stretch, with no daily close in the afternoon, after which unexpected news can be released which affects a stock.

i.e are liquidity, volatility generally non-issues in most pairs?

– Certainly not nonissues at all, although I do find the liquidity at busy times of day friendlier to trade than the stock market. But then, that may just be me.

(ii) What kind of risk management techniques are being used?

– A very broad question, which can't usefully be answered except to say the same ones you would use anywhere risk is involved.

(iii) Do you need to spend a lot of time staring at the screen daily if you're trading for a living? How does a normal day go?

– I certainly don't. Max I spend now is about an hour, and only 15 to 20 minutes of that is absolutely necessary. The rest is through boredom or pleasure. But you can if you want to, and you must if you have to, i.e. if you are scalping for example. Personally, I've found a way to trade the market that suits me as an individual, and part of that is that I can do it in less than one hour per day during the week.

Hope this helps.

Erron