Well, after some struggle, apparently I’m starting to get interested in forex scalping. Reasons:
1. 24×5 market. Sure sure liquidity can be an issue during EST nights, but hey, at least I can sit down and do something instead of fearing boss standing behind me.
2. less instruments. As a beginner I can only try to understand EURUSD and USDJPY, instead of hundreds, if not thousands of stocks…
3. Can be easily automated. MT4 is flat out awesome. I know, you can do the same with Amibroker, esignal, etc, and I even bought Amibroker, but…I need a better supported automation resource and EAs have been around since when, before I even know I can trade forex?
4. Scalping. Yes, I will be focusing on scalping using EAs. There isn’t a holy grail EA, but like a stock trader I follow said, you don’t need to be 100% correct. Take your small gains and keep taking them. without PDT, scalping seems obvious to me. I’m not an investor, how am I supposed to know how NFP in US is going to affect EURUSD? All I can see is the price action and I’m trying to understand it.
I’ll still be trading stocks, but I’ll focus a bit more on forex for next couple weeks to basically get an idea of how this whole thing works, get some practice in running EAs, backtesting, etc. We’ll see.