Forex vs Stocks Which is More Profitable & Why?
Should you trade stocks or Forex? This is a question a lot of people ask, so in this week's Australian Stock Market Show Dale and Janine will be discussing the hot topic of trading stocks vs Forex, which is more profitable and why.
The reasons why traders choose Forex is because they believe they will make far more money in a shorter period of time than if they choose to trade stocks.
In fact, the end goal for many who trade the stock market is to “day trade” for a living.
But all too often, individuals fall prey to the myth that trading more or trading highly leveraged markets, such as Forex means they will make far more money, when in reality the opposite rings true.
Unfortunately, many traders believe they need to replace one job with another and trade on a daily basis to achieve their financial goals.
The reason for this is that many people are taught trading using daily charts, as we discussed in last week’s show - Daily vs Weekly Charts | The Million Dollar Mistake to Avoid. But if you remember, individuals who trade less using the weekly and monthly chart make far more money and experience far less stress.
That’s because they have learnt to trade well rather than often in order to obtain a lifestyle instead of making trading their lifestyle.