September 28, 2015 at 7:04 pm
I recently saw a study that showed that 90% of binary options traders preferred trading Forex(Currencies) over other asset classes such as Stocks, Commodities and Indexes.
I have a few questions I want to ask you all regarding the above statement:
I am looking forward to hearing from you all!
September 28, 2015 at 7:50 pm
Hi Members – BIG D here….
I think this is a simple answer which comes down to one thing. The volatility and movement we see on the FX market is much greater than in Stocks etc. Added extra bonus is that we are not bound to a certain time period from a market open to close either. I think these are the 2 main reasons, well they are for me.
BID D 😉
September 28, 2015 at 7:58 pm
Hey Alex I have also thought about this before. Let me have a go at your questions..
1. I think that Forex charts are easier to get your hands on. Most brokers who offer Metatrader don’t have a lot of other assets other than currencies. This is probably one of the top reasons why so many people trade currency pairs in my opinion.
2. I like trading currency pairs
3. My reason would be like I mentioned in the first answer – Forex charts are more accessible than other assets.
September 28, 2015 at 9:28 pm
Good point Roosevelt. Here are my answers:
1 – My opinion would be that the forex market is open 24 hours a day whereas other assets like stocks have a closing and opening time.
2 – Mostly Forex, but I also trade Gold and Silver now and then.
3 – I have been trading it since I started trading and I’m quite successful with it so I don’t see any point to trade other asset classes.
September 29, 2015 at 5:02 pm
1) According to me there is more liquidity in the Forex market compared to stocks.
2) I trade Forex like the other 90% of traders.
3) Mostly due to the fact that it is more liquid throughout the day.
September 29, 2015 at 7:02 pm
1. I think that the Forex market is not so manipulated like stocks are. There are so much more participants in Forex than in the stocks market. That is why it is easier to manipulate stocks.
2. Forex for sure
3. I am still new to trading and I have read somewhere that forex currencies are easier to trade so that is why I’m sticking to them.
September 29, 2015 at 11:20 pm
Well for me there are just too many stocks to choose from and you are not guaranteed that the ones you chose will have a lot of movement for the day. Forex on the other hand has a lot of movement. I mainly trade 4 different pairs and I find trading opportunities every day. For me this is all I need.
September 30, 2015 at 6:10 am
Through my experience I have seen that stocks don’t adhere to technical analysis like Forex does. This is the reason why I would rather trade Forex currencies and nothing else.
September 30, 2015 at 10:48 am
Great points you guys make! I would definitely agree with all of you. There is nothing really for me to add to your comments. It doesn’t look like anybody trades Stocks, or should I say so far.
I also prefer trading Forex for Binary Options. I do, however, trade Futures and commodities when I am not trading Binary Options.
Anybody else got other reasons why traders choose Forex over other assets?
September 30, 2015 at 2:26 pm
Nope I have nothing to add really. I have experimented with stocks but I wasn’t successful trading them so I switched back to currencies.
I don’t have anything against trading other assets, it’s just that I have not been successful with them in the past. Who knows… when I get better at trading, I might give it another try.
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