Which Investments should I go onto?
Blurred asked:
Im interested in both long term investments and short term trading. First question-Which course should I learn? Im caught between Futures,Options,Forex,CFDs. I have attended countless free workshops regarding all the above instruments but have yet to settle on one. Second question-Is there a trading system which i can apply for all the instruments above? Third question-Does learning Technical Analysis allows me to trade successfully in all of the instruments above? If so, there’s no need for me to go in depth mastering of the strategies involved for each individual instruments above as Technical Analysis have covered them? How about Fundamental Anaylsis for trading? Necessary?
Im interested in both long term investments and short term trading. First question-Which course should I learn? Im caught between Futures,Options,Forex,CFDs. I have attended countless free workshops regarding all the above instruments but have yet to settle on one. Second question-Is there a trading system which i can apply for all the instruments above? Third question-Does learning Technical Analysis allows me to trade successfully in all of the instruments above? If so, there’s no need for me to go in depth mastering of the strategies involved for each individual instruments above as Technical Analysis have covered them? How about Fundamental Anaylsis for trading? Necessary?
Confused, Overwhelmed, Frustrated….
Patrick
Tags: Free Workshops, Individual Instruments, Short Term Trading
November 8th, 2008 at 9:55 am
Hey Blurred,
Welcome to the deep end of the pool. I agree with you that the assortment of various investment vehicles is a bit overwhelming…the good news is that you can make money with any of them…..it would however be extremely difficult to master all of them. I guess the first advice I would give you is to pick the one that seems the most interesting and the most compatible with your risk level and investment style.
Once you have mastered one of the investment options you can always branch out and explore additional investment income streams. The other good news for you is that the skills you develop in technical and fundamental analysis is easily transferable to the other markets. Your immediate task at hand is to pick one market and block yourself out from being distracted by the late night TV commercials and the free workshops that seem to bombard us everyday. You need to become a “doer” instead of a “looker”.
Over the past 30 years I have traded stocks, options, futures and forex. Over the past 4 years I have seemed to have discovered that my niche and my passion is in the Forex marketspace. I think that this is due to fact that the Forex market is the largest and most liquid market in the world with $2 trillion per day being traded. The market is open and active 24 hours a day, 6 1/2 days per week. I am also personally fascinated with international trade and geo-political activities.
I must admit that my current trading style might be considered extremely boring. I enter conservative, long term hedged positions and let them run for days, weeks or sometimes months. But the profits have been very nice!
I have an analysis of the daily results of 5 different Forex hedge trading strategies over the past 500 days if you would be interested.
Good luck!
Paul Upp
(925) 236-1839