Why You Should Abandon Stocks For Forex
1. The stock market is slow and boring.
Substantial price movements that take days or weeks in the stock market can happen in a matter of hours, even minutes in some cases, in Forex. Do I trade stocks? Sure, but it sure as fuck is the most god awfully slowest form of trading I’ve ever experienced. If I put all my screen time into stocks i’d fall asleep at my desk every day.
2. It’s fun to make fun of foreign officials and their funny accents.
Let’s face it. Anyone that isn’t American talks funny and can’t be taken seriously. OK, i’m just kidding, but it really is fun to make fun of them.
3. Liquidity
When was the last time you had your entire order filled in under one second? Probably never. So long as you’re not moving multi billion dollar lots, odds are you’ll get filled instantly on both the buy and sell side.
4. Less Limitations
With my arch nemesis Dodd-Frank in place, it’s not quite as free as it used to be. However, it’s still less restrictive than the requirements for stock trading. If Romney should repeal anything, it should be Dodd-Frank. That’s how much I hate the whole Dodd-Frank thing. Thanks to Dodd-Frank you can no longer open overseas accounts. Now you actually have to pack up and move to some hut on one of the various South Pacific islands if you want to avoid Uncle Sam.
5. 24 Hour Market
While brokers tout it as “trade anytime you want”, it’s not. Well, it is, but it’s pointless to short term trade the “off hours” because nobody else is and price stays flat for the most part. The good part is watching the pre-market hours and having the ability to make and act on a decision before everybody else decides to do the same.
Why You Won’t Trade Forex
1. You’ll get murdered
Trust me, you will. I was murdered once or twice. The all mighty Xenu, however, granted me new life. It’s taken me 8 years to conjure up the ability to pick future swing high/low points with sniper like accuracy (I’m usually within 10-15 pips). I use nothing but a price chart. Indicators are useless in Forex, but you’ll find all sorts of people use them. All they’re doing is slowing down your decision making process while guys like me made their move long before you. If you’re using indicators, you’re paying me, literally.
Speaking of getting murdered, and this is totally unrelated, I thought I was about to get 187’d in Detroit a few weeks ago. Some extremely intoxicated homeless man walked up to me in the middle of Greek Town and fucking hugged me. Why? I don’t know, but my first thought was “Is this guy about to shove a knife in me?” and I promptly pushed him off of me. Note to self. Turn in your god damn concealed pistol license paperwork!
2. Volatility
It’s more volatile than walking into a room full of gunpowder on a dry winter day with static cling all over your nicest suit. For most people the kind of volatility in Forex is enough to send them running away screaming. If you can embrace it with open arms and have the ability to remain cooler than an iceberg in the Arctic, it might be for you.
3. It will drive you insane
Let the volatility get to you and you’ll wind up an extremely intoxicated homeless man hugging random people on the street. It’s not uncommon to have a successful trade quickly turn against you and stop you out. Stay on those stop losses and move them to break even! It’s disappointing, sometimes down right depressing to watch your profits dry up all together. Breaking even is better than losing, so in a way you’re still winning if you break even.
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