Why do you guys trade Currency?

[Bluegar3]

Just wondering why you guys choose to trade currencies? Are they easy to make money?

 

[Rhody Trader]

I got involved in forex when I was an analyst. I found it a more interesting market than fixed income in terms of something going on just about every day. I've stayed with it since. I like the breadth of tradable instruments without having to deal with the mass of stocks (though I trade them too) and it's a wonderfully technical market.

 

[Daal]

Quote from Rhody Trader:

and it's a wonderfully technical market.

do you got empirical evidence of that?

 

[Rhody Trader]

Quote from Daal:

do you got empirical evidence of that?

What exactly did you think I meant by saying that?

 

[Tangara]

I have an interest in trading in general. So when I heard that the Forex Market is the largest on earth, I wanted a piece of the action.

 

[Bearbelly]

Quote from Rhody Trader:

it's a wonderfully technical market. [/B]

What did you mean by this? Ive always assumed that the currencies were mainly driven by fundamentals and news so I have shyed away from it. I traded the Euro for awhile but found it too prone to sudden violent moves for no apparent reason.

 

[Bitstream]

fx is all but technical as far as i see.

 

[poohbear]

Quote from Bearbelly:

What did you mean by this? Ive always assumed that the currencies were mainly driven by fundamentals and news so I have shyed away from it. I traded the Euro for awhile but found it too prone to sudden violent moves for no apparent reason.

I agree. I find Euro market very efficient and mostly driven by news or liquidity demand, thus un-tradable for individual trader because you won't have an edge on these things.

 

[Chood]

Quote from Bluegar3:

Just wondering why you guys choose to trade currencies? Are they easy to make money?

No.

 

[risktaker989]

Quote from Rhody Trader:

I got involved in forex when I was an analyst. I found it a more interesting market than fixed income in terms of something going on just about every day. I've stayed with it since. I like the breadth of tradable instruments without having to deal with the mass of stocks (though I trade them too) and it's a wonderfully technical market.

i pretty much agree...i have experience trading equities, equity options and currencies. i also find the currency market to me much more interesting because of its global nature.

from a trading standpoint i enjoy the 24-hour nature of it and from a technical analysis perspective it lends to "cleaner" moves (on a daily chart) in part because of the 24-hour action.

i agree one could almost entirely tackle this market from a technical perspective (like me) but i do know traders that approach this market successfully from a fundamental perspective. whichever way works for you is the method you should pursue.