A lot of newbie traders have lots of wrong preconceptions about financial markets. Most of them think that some markets are safe and some are not. They say the same things about individual stocks. Therefore, a lot of investors are searching for safe type of investments. All booms and financial crises prove that it is the other way round. Nothing is safe and nothing is dangerous out of itself. None market can be called dangerous and none of it can be called safe. Forex is no more dangerous than government bonds of United States or any other country. All markets are very similar in their nature (with minor differences) and if you are able to trade one market you will definitely be able to trade any other one too.
Now, the most interesting thing here is that all markets undergo very similar stages and tendencies too. All markets have ranges; all experience trends from time to time, all of them go sideways, all experience booms and collapses. Whether you take Forex, metals, stocks, bonds or any other market you will see all those stages and tendencies everywhere. So, if you create successful trading strategy or strategies you will be able to apply them in any market.
So, if technical analysis works in futures market, it will also work in Forex and stocks. What we have to do is to use our heads to find out the best methods and apply them in the market of our choice with specific securities that we understand best and feel comfortable with most. Do not be too much fascinated by some free signal providers. You can, but if you want to become a professional independent trader you will have to find out what works for you and stick to that.
If you are a newbie in this business I would recommend becoming analyst before you become a trader. Learn to see the big picture first, analyze bigger time frame charts: daily, weekly, monthly and then move on to smaller time frame charts to see how these add to the big picture. Learn to notice big moves and how to trade in the direction of those moves. Don't be lured to trade counter trend moves before you learn to trade tendencies. Then see if you really want to trade corrections or not. Practice makes perfect. Get accustomed to a trading platform of a provider you are using, spend some time trading demo and only then start trading (having decided how much money you can afford to lose). Hope that was useful.
For more information regarding financial markets I recommend visiting blog Trend and reading an article how to use Relative Strength Indicator in your trades. Hope you will enjoy the blog.
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