Diversifying my trading

So I've been learning and demoing forex for about 6 months, and recently I've had some success.

Now I want to branch out into other markets - such as stocks and commodities. But then I begin to read about all these instruments like stock ETFs, CFDs, options and futures and so on, and I'm just completely lost. I've tried researching about them but I can't manage to wrap my head around all the technical mumbo jumbo on wikipedia :S

So I was hoping someone could explain the main differences between these markets/instruments to me, and how they're traded.

Basically I just want to trade instruments that are similar to forex - e.g. I see a signal, and I can Long/Short, and close my position wherever/whenever I see fit.

Thanks

Forex Fundamental analysis (as i understand it) is to study the economist news for the currency's countries and know the effect of that news on the market.
Stocks fundamental analysis is different. you have to get the financial statements of the specified company's stock and analyze it like this:

External = abroad/international > Macro = Country the stock exist> Micro = the company

First we check whether the country in good condition (GDP, Rate, security,...) and than checking the company by getting financial report, ratios like ROI, ROA, ROE, PE/Multiplier and other rations.

Make a projection for it's performance upon that you can decide buy that stock or not.

trading stock is only one way trading...we hope the price is going to up....no down.......

Hi Cabby, hows it going?

I think as a Forex trader, it's important to look and analyze other markets apart from just the forex market too. I don't know who you currently trade with but I see your from Australia. Check out the FXCM Australia website and look for an account called FX, OIL, GOLD & STOCK INDICES. You can get a demo account with them which will probably last about 30 days or something. Or alternatively just open an account with them for 300 Dollars.

At this point let me point out I'm not trying to sell FXCM to anyone, I trade with them as a retail trader in Europe and am very happy with their service and have had no problems which I haven't had with any other broker!

This I think will help you kill several birds with one stone getting to trade Forex, Oil, Gold and Stock Indices (I even think they have Silver also, you will see with the demo). You will be able to understand the correlation between all these markets which again I think is important to understand the Forex market at times.

Hope this helps a little, and if anything download the demo account and see how you get on. But overall diversification is good and the understanding of other markets is always going to be an advantage than someone who doesn't.