Day trading stocks vs forex is a debate as old as the market itself. Traders have been trying to get to the bottom of this one since times immemorial without having too much success, unfortunately. The reason is that neither side seems to be able to win the argument or make a compelling case once and for all. So, as a beginner trader, which one should you choose? Let’s see if we can shed some light on this matter.
Forex or Day Trading?
Forex traders argue that they prefer their slice of the Wall Street because it offers them a much wider range of markets.
On the other hand, those who deal with stocks prefer them because they are always privy to all sorts of data and information about the stocks they have chosen. Evidently, this increases their chances of correctly predicting the market trends and making a profit.
However, when the stock market goes in a particular direction, so will about 70 percent of all the stocks. If you have a thorough understanding of a certain company that was listed in the stock market may offer you some accurate trading of the stocks it has.
There are some stocks that are able to move more on a certain day than currencies do. Moreover, if the stock you are referring to is a penny stock, you may be looking at much larger opportunities.
At the opposite corner stands day trading forex, which is a bit different. On a very profitable day, a trader can make only a medium gain. However, it’s fair to say they do gain very often. Even though they can watch a certain stock for days on end, it can so happen that they get the chance for a really important gain just once.
You might also like – How Day Trading Works: The Beginner’s Guide
What If You Are a New Trader?
Being a new trader caught up in the day trading stocks vs forex ongoing battle is not simple. Which one should you choose? What you can do is consider the facts we singled out for you one by one. Use your analytical skills to make a decision on which market is better for you. Because this is what it all comes down to. It’s a highly personal game, and you should think about yourself first. Which one do you prefer? Use your better judgment to make up your mind.
In the end, as we pointed out in the intro of this piece, there is no conclusion to the day trading stocks vs forex game. The reason is that they are both so different. It’s actually like comparing apples and oranges, even when it comes to how profitable they are. The only way you can decide is by seeing which one is more of a match for you, your knowledge, personality, and way of trading. Write to us in the comment section below and let us know what you have decided and why. We’re curious to know!