Originally posted by Zestfulmocha
Why the drive for no correlation? Are you trying to hedge your bets against a bear market?
I'm on a similar path but will be looking to trade Forex in addition to ASX STT (And the longer term SMSF stuff). I worry I'll get too distracted, and potentially start to fail at STT due to lack of focus, but can always reign it back in if that happens I guess. If you ever look into Forex/CFDs i'd be very interested to hear if you think the TA skill set still applies to those instruments? I was looking into it the other week (not that I focus on technicals) and from what I saw, supports, resistances, trends, etc. were all commonplace in Forex as they are on ASX. Affected more by macro markets than company updates obviously, but the degree to which they are impacted as a % is so small that it looks like technicals seem to prevail above FA? Like I said i'm no expert on technicals but always occurred to me that technical traders would fare well trying to enter Forex.
Best of luck whatever path you take clear.png Keen to hear how it all pans out for you
@Zestfulmocha I noticed your interest in Forex trading. A couple of words about the subject if I may:
Yes FX trading suits traders with a solid TA skillset. However it also suits those with a strong FA skillset. Imo either/both apply and can be used successfully.
A word of warning though, FX trading is just as heavily manipulated as equities trading if not more so, especially since you are not dealing with a centralised exchange - if you are trading FX using CFDs then your broker is basically your exchange and for this reason the liquidity is not as deep as you may think.
Having said that if you have a disciplined approach and prepared to put in the time to learn the ropes (which will be longer than you think it takes) you can make good money from FX. Feel free to drop into the HC Forex forum - there is only a small group there and the posting traffic is not very heavy, but the quality of posting is good enough you will at least get a sense of some of the ways to go about FX trading.
Cheers, Sharks
(20min delay)
