Hi, I currently do pretty well in my stock trading. Can my success in trading stocks be transferred over to Forex?
A: If you follow sound trading practices – and by that I mean you have a well
conceived trading plan that you follow – then you can certainly transfer your
stock trading success over to forex.
Those who employ technical and/or quantitative analysis in their trading
should find the transition fairly smooth. The one difference, though, is that
you will not have access to volume figures. Since forex is not an exchange-based
market (futures aside), there is no central repository for aggregated trading
volume data.
Fundamental traders who look more at the wider picture should not have much
trouble turning their aim toward forex analysis. The only ones likely to face
some difficulty is those who focus on fundamental analysis of individual
companies since they have to shift from micro to macro perspectives.