What to branch out after stocks ?

R

randy33

Dear traders,

Seeking your advice on where to go next to increase my profits. I have many years of experience and been fairly successful scalping S&P stocks on intra-day basis and am ready for the next challenge. This is a serious inquiry as I realize trading stocks alone will only take one so far even if you are successful. Sooner or later I need to add more setups in different markets to be versatile and increase profittability.

Should I try ES/YM futures then FOREX or, the other way around ? I want to do the easier and "safer" thing first if that affects your answer.

Thank you in advice. Randy.
 
I have a unique idea, paper trade Fx for a few weeks , then try ES, whichever account loses LESS money concentrate on for a few months until you break even.

If you are an experienced trader, then you don't need advice from an anon board of wanna-be traders!

There are no more than a handful here that actually make a living and support a family.

PS: Stay away from Fx and trade Fx Futures!
 
Thank you for that. I wouldn't just dived into F/X or ES without demo account. Under this scenario, I really like to know which one to try first ? Your opinion ?
 
If you have experience trading stocks, why don't you try commodity stocks... especially if you want to trade FX because those price movements have a huge impact on commodities.

Euro Up = bullish for commodities
Dollar Up = bearish for commodities
Yen Up = bearish for stocks though not as a clean relationship with commodities

You can get some really wide intraday moves in oil related stocks. Same goes for the Agricultural stocks. Look up some gold charts... beautiful patterns forming. The unfortunate story about Gold is that CNBC is all over it, so the party may soon be over.
 
Interesting Monty. But I want to have another setup other than stocks. Hence, F/X and ES,YM futures. What is the one,two ? Which of these two will be suitable for starter? Argument for one over the other ?

Thank you in advance.
 
Quote from randy33:

Interesting Monty. But I want to have another setup other than stocks. Hence, F/X and ES,YM futures. What is the one,two ? Which of these two will be suitable for starter? Argument for one over the other ?

Thank you in advance.
More...

Personally, I do not know a successful, long term forex trader....

ES is harder than stocks...all futures are.
 
Quote from monty21:

If you have experience trading stocks, why don't you try commodity stocks... especially if you want to trade FX because those price movements have a huge impact on commodities.

Euro Up = bullish for commodities
Dollar Up = bearish for commodities
Yen Up = bearish for stocks though not as a clean relationship with commodities

You can get some really wide intraday moves in oil related stocks. Same goes for the Agricultural stocks. Look up some gold charts... beautiful patterns forming. The unfortunate story about Gold is that CNBC is all over it, so the party may soon be over.
More...

x2.
 
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