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[microunit]

I think that forex trading is much more predictable than crypto as they can be greatly influenced by global news etc and forex has an unlimited supply, crypto on the other hand is highly volatile unpredictable and the supply available is limited so when some big traders or whales buy big amounts it will directly affect the supply and the price. Any thoughts?

 

[SCAMEXPOSER]

Forex might be easier to predict no doubt about it cos it is regulated but trading require basic tips that guide on how best to get the signal and the right time to trade. Bitcoin on the other hand isn't regulated but easy to trade if you obey the rule of buy low and sell high and you also get updated as things unfold.

 

[brent_abella]

Cryptocurrency trading is similar to forex trading in a way that they both involve exchanging a currency to another currency. However, trading cryptocurrency and trading forex are influenced by different factors & considerations.

 

[SCAMEXPOSER]

Both are highly risky cos require enough information before trading , it is even easier to loose in forex than crytpo except you are knowledgeable and willing to invest hugely.

 

[microunit]

Both are highly risky cos require enough information before trading , it is even easier to loose in forex than crytpo except you are knowledgeable and willing to invest hugely.

I see other new traders tend to like trading crypto more and some long time pro traders prefer to trade forex, I guess forex is complicated to newbies

 

[Balint098]

as they can be greatly influenced by global news

Can you predict that Covid will hits the whole world this hard in January, before the stock/forex prices fell through the roof? Nope, it's still hard because sometimes mega event like this pandemic just suddenly hits us all in the face.

 

[SCAMEXPOSER]

I see other new traders tend to like trading crypto more and some long time pro traders prefer to trade forex, I guess forex is complicated to newbies

You got the point, I don't it is easier to learn from successfully simply by watching videos demos or reading on the internet, the secret is either is mostly sold in the form of mentorship training.

 

[KarthikP]

I think forex trading requires more skills and dedication towards it. Anyone with low knowledge can start crypto trading just keeping in mind when to buy and when to sell a crypto , all that requires is patience to get profits

 

[SCAMEXPOSER]

I think forex trading requires more skills and dedication towards it. Anyone with low knowledge can start crypto trading just keeping in mind when to buy and when to sell a crypto , all that requires is patience to get profits

Yeah unlike forex that involves lots of currencies been traded almost simultaneously, seeing the graph alone show it can't something to self learn .

 

[microunit]

Can you predict that Covid will hits the whole world this hard in January, before the stock/forex prices fell through the roof? Nope, it's still hard because sometimes mega event like this pandemic just suddenly hits us all in the face.

yeah it's hard to predict these kind of big event things, though most are getting losses with this pandemic it is also true that others are gaining more profit with this big event, just gotta have to bounce back

 

[microunit]

Yeah unlike forex that involves lots of currencies been traded almost simultaneously, seeing the graph alone show it can't something to self learn .

newbies traders can opt to try demo accounts provided by brokers like IQOption and ExpertOption, to test and grow their skills first and have experience along the way before they go to actualy trading with their money

 

[Balint098]

I think forex and crypto trading are more or less use the same tactic - such as buy low sell high, same graphs and analysis. Though, forex is generally a little bit more unpredictable than crypto.

 

[microunit]

I think forex and crypto trading are more or less use the same tactic - such as buy low sell high, same graphs and analysis. Though, forex is generally a little bit more unpredictable than crypto.

yep I agree to that, though some traders seems to say that cryptocurrencies tend to be more volatile and unpredictable than forex trading

 

[SCAMEXPOSER]

newbies traders can opt to try demo accounts provided by brokers like IQOption and ExpertOption, to test and grow their skills first and have experience along the way before they go to actualy trading with their money

Yeah they can use the demo option just to know the basic but honestly I don't advise them to use the knowledge to trade immediately, a friend of mine tried and lost close to $40 according to him.

 

[brent_abella]

Cryptocurrency are much preferrable to most people since it doesn't require an identity verification or "KYC" to start and all functions are unlock unlike forex trading where you need to undergo series of documentation to verify your identity, so called "KYC" in order to unlock deposit/withdraw functions to start real trading.

 

[westmania]

@microunit friend I think you already know what I am going to say here. Crypto is far far far profitable than stable Forex. Buying each coin at minimal make next year almost a millionaire. I will not ve wondered. some coins huge profit comes within 6 months while sone coins it may come within 10 days only.

 

[brent_abella]

@microunit friend I think you already know what I am going to say here. Crypto is far far far profitable than stable Forex. Buying each coin at minimal make next year almost a millionaire. I will not ve wondered. some coins huge profit comes within 6 months while sone coins it may come within 10 days only.

Yeah I could agree to your statement as crypto has limited supply unlike forex which is centralized and has unlimited supply

 

[Balint098]

Cryptocurrency are much preferrable to most people since it doesn't require an identity verification or "KYC" to start and all functions are unlock unlike forex trading where you need to undergo series of documentation to verify your identity, so called "KYC" in order to unlock deposit/withdraw functions to start real trading.

A lot of crypto exchanges now require you to do KYC process, not just forex, if you don;t do it you wouldn't be able to withdraw your funds.

 

[brent_abella]

A lot of crypto exchanges now require you to do KYC process, not just forex, if you don;t do it you wouldn't be able to withdraw your funds.

Nope, the KYC is applicable only if paired to forex currency. The KYC for crypto exchanges are to increase limits on withdrawal mostly. You can still trade and deposit/withdraw without KYC bu with just limits.

 

[brent_abella]

Yes, crypto exchangers & trading platform has KYC but it is not required at all. It's just for increasing withdrawal limits.