BITCOIN IN RELATION TO FOREX. | Bitcointalksearch.org

uchegod-21

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Quote from: Stepstowealth on July 17, 2024, 05:22:51 PM

Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.

Trading bitcoin falls under trading cryptocurrency, and it is similar and different at the same time from Forex. In terms of profits, the both of them are profitable depending on how well you understand them, one is only a preference to the other depending on your understanding of it. Cryptocurrency trading is more volatile than trading forex, you can make a big profit, and also loose all you have in just a few minutes, and in crypto trading, someone can trade at any time of the day and any day of the week. Someone who has traded Forex well and understands it can easily decide to switch to crypto trading, they will just need some minor adjustments to their knowledge.

I believe the right question OP should ask is the difference between cryptocurrency trading and forex trading. Such a question should probably arise in the trading discussion board, but for the fact that op is a newbie, we could consider the question here as well.

Talking about the difference between cryptocurrency trading and forex trading, I would say that they are similar but I prefer cryptocurrency trading (especially spot trading). In this type of trading, even if you make mistakes and run in losses, you could wait for some time and return again in profit. Even if you don't return to profit, you can recover some portion of your capital. But this cannot be said about forex trading, because in forex, if the market goes against you it has gone against you for life. That's the reason I prefer crypto trading to forex trading.

Uhwuchukwu53

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Quote from: avikz on July 17, 2024, 11:14:30 AM

Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

Forex market is very old when compared to Bitcoin. I have seen people making millions out of forex market and at the same time I have seen people losing all their money in the blink of an eye.

From the trading perspective, it's all same! It's all about speculation on a certain trading pair. Both are risky and both are rewarding at the same time. But I would say the cryptocurrency market is more volatile than forex. From a trader's perspective, both are mostly same!

There is no doubt over all because it's the reality in relation to forex trading but there is one thing I observed in this issue if trading despite not seen as gambling the issue if luck can't be overruled with experience because most loss is as a result of lacking experience and luck .
Secondly greed if traders seeking to cash out big even when there capital and small profit has been seen in the market move.
The comparison for me that are all about trading and the best is on that which you have more experience and the level of luck you can run into when a trade is trigger.

SmartGold01

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Bitcoin is just like an equity you used in funding your account, you can use it to trade between usd/BTC or Euro/BTC in forex same it's to exchanges but it's more difficult trading in forex to cryptocurrency exchange. There are lots of people who used the forex knowledge to Excel very well in cryptocurrency trading since forex is more technical and required lot of studying, although in cryptocurrency one could as well do their research before jumping into the market except such person has decided to trading between usdt/btc, for altcoin then there would always be a means of doing personal research before coupling that token to other currency to trade.

lionheart78

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The obvious difference between Forex and Bitcoin is the regulation. Forex is heavily regulated by the government while Bitcoin regulation is just gearing up. We all know that Bitcoin is decentralized while Forex deals with fiat currencies issued by the government. Originally Forex is trading between government currencies but recently with the boom of cryptocurrency, Bitcoin/cryptocurrency forex trading has been integrated to be able pair cryptocurrency with fiat currency.

In short, in order to take advantage of the growing popularity of cryptocurrency, institutions design a way where cryptocurrency trading meets up with fiat currency trading resulting in cryptocurrency-fiat trading pairs.

If anyone is interested in a much deeper explanation of Bitcoin and Forex relation, you can check: https://www.investopedia.com/articles/forex/081815/trading-forex-bitcoin-how-does-it-work.asp

Zaguru12

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Quote from: seoincorporation on July 17, 2024, 02:35:18 PM

Doing forex is totally different than investing in bitcoin. The main difference is how you can lose your money in forex while with bitcoin the coin can lose its value but you still holding the same amounts of coins and it can recover in the future.

If you are looking for the Best way to invest then Just buy bitcoins and hold them, that's the secure way to do it.

OP is referring to the trading of both and not just investing of bitcoin against forex trading. Just as everyone has mentioned the both holds similarities most especially in the kind of analysis carried out before making a trade. They both are risky when using a high leverage although in terms of market fluctuations the bitcoin or cryptocurrency at large is more volatile which I would say makes it more risky and more profitable again. In terms of its market analysis the technical analysis which involves the drawing of chart reading of candle sticks are all the same. The other analysis too are the same with just slight variations in the fundamental analysis because of the different commodities that they are.

Stepstowealth

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.

Trading bitcoin falls under trading cryptocurrency, and it is similar and different at the same time from Forex. In terms of profits, the both of them are profitable depending on how well you understand them, one is only a preference to the other depending on your understanding of it. Cryptocurrency trading is more volatile than trading forex, you can make a big profit, and also loose all you have in just a few minutes, and in crypto trading, someone can trade at any time of the day and any day of the week. Someone who has traded Forex well and understands it can easily decide to switch to crypto trading, they will just need some minor adjustments to their knowledge.

Stalker22

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

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The forex market typically does not fluctuate as severely as Bitcoin. So the price changes may not be as extreme, but the potential profits (and losses) could be smaller too. Forex trading has been around longer with more oversight and regulations in place. But both markets require making calculated guesses about where prices are heading to try and make some money. And no matter what you trade, homework and managing risks are still needed to give yourself the best shot.

coolcoinz

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First of all forex is primarily based on leverage trading because of its stability and that can get you eaten by sharks.
In other words, you invest in a market that usually makes moves smaller than 1%, so investing $10k USD will get you so very little profit that you won't be able to profit from it. You'll feel like you're sitting there watching charts every day and you make $100 a month. That's why people who don't have a lot of money either borrow to trade forex, or they turn to shitcoins. IMO both options are a bad choice.

Just buy and hold bitcoin. You won't make a lot of money short-term, but at least you won't waste your time trying to make more and failing.

$weetne$$

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

Forex is bigger than bitcoin trading because Forex has been here for a longer time than Bitcoin and Forex has many currency that you can trade including Bitcoin. The similarities is they both are speculative market that you have to speculate where the market is going to move next. Bitcoin is younger than forex and it should have more advantages therefore if you are looking for which one to learn or start trading, I will choose Bitcoin. Bitcoin has more opportunities because you can just accumulate Bitcoin instead of trading it and if you buy Bitcoin for trading and you did not interpret the market well then you miss selling for profit, you can abandon trading and start accumulating Bitcoin and when the price of Bitcoin reaches a new highest price, you are going to make very big profits. Forex trading is regulated but Bitcoin trading is not regulated which causes more volatility but it provides you with opportunity as well to profit.

seoincorporation

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Doing forex is totally different than investing in bitcoin. The main difference is how you can lose your money in forex while with bitcoin the coin can lose its value but you still holding the same amounts of coins and it can recover in the future.

If you are looking for the Best way to invest then Just buy bitcoins and hold them, that's the secure way to do it.

batang_bitcoin

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.

I'd always careful in believing the real winners from this market and as well as in the forex. It's because these markets have one in common and that is for being used by scammers to attract more investors portraying as fake mentors.

Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

Articles like this are a good read: Crypto vs forex trading: which is right for you?

348Judah

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

Forex was then a trending trades in which many will want to go for and deal with currency exchange in fiat, but bitcoin has made it more easier for traders to do the same with the use of cryptocurrencies, they may quite have a little similarities in common, but the truth is that they both were two different things, though the similarities here are currency pairs for trading, while what we consider in bitcoin trading is all about cryptocurrencies while fiat in most cases with forex trade.

Faisal2202

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Quote from: tranthidung on July 17, 2024, 10:21:06 AM

Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

holding your bitcoin as investment, and wait for 1, 2 or 3 cycles or even more cycles, to take profit and get better financial life.

For the ease of OP, 1 cycle means 4 years (approximately). And holding indeed is a good way to make money but if OP you want to make money by trading in BTC and forex and that's why you want to get a difference, then a simple logic is BTC is decentralized and almost every forex currency is centralized. I hope you (op) already know what's forex means, its mean foreign currencies means you will be trading in foreign fiat currencies. And keep in mind that they are not as volatile as BTC is, and if you will hold them for 4 to 12 years you will definitely not going to make a profit akin to what BTC can make you in the same timespan.

In short, if you want to start trading then both are good options but as tran said, don't do leverage trading because it is risky and can lose you all of your money even if at the start you are making money, after some time your emotions will take over due to lack of knowledge so its best to learn and while learning to invest your money for the long term in BTC. NFA so DYOR, please.

Antotena

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

Forex long existed before Bitcoin was created, the rules that apply to forex also apply to Bitcoin in all aspects of technical analysis but there are some limitations when in volatility and fundamentals when it comes to forex. Crypto/Bitcoin makes moves 2 times than forex most of the time but there are times some forex moves too but not as often like the way Bitcoin moves. As you can see, between last week and this week, Bitcoin made 15% up and many stock never did that move.

The fundamental analysis of Bitcoin is open to everyone, you get to know everything that is happening around Bitcoin, not hidden like the wall street but forex information are always hidden from the public unless you are very active with true information. In addition, Bitcoin has bull run every 4 years, though not guaranteed but forex doesn't have it and this is the time a lot of people make money from Bitcoin which is open for everyone to make money as long as they buy.

retreat

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

The similarity between Bitcoin and Forex trading is that you can use most trading tools such as MA, RSI, MACD, as well as leverage, SL, TP and trading bots. However, if you discuss market characteristics, perhaps the two are very different, where Bitcoin tends to be unstable and more difficult to predict compared to Forex. However, if you are familiar with Bitcoin trading, then it will not be difficult for you to understand Forex trading, it's just that you may need time to study the market and determine the right trading strategy to get maximum profits. If you want to know more about the differences and similarities between the two instruments, you should search through Google or other sources.

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

You don’t understand the general overview of “trading”. Regardless of Crypto, Stocks, Forex and other assets that is use on trading, there’s always someone winning and losing at the same time proportionally since trading is just passing of wealth from one person to another.

It’s literally a PvP which people just earning because other people is losing money. Exchange is just offering an orderbook for traders orders and just charge fee to earn but traders is just fighting themselves for profit so crypto offers same result with forex when it comes to what you are describing that happening in Forex. Crypto trading offers worst due to volatility.

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

You can be trading bitcoin and fiat in P2P market.

You can trade bitcoin in the sport market. Also you can trade bitcoin on as margin in which you can leverage it by borrowing bitcoin from people. The exchange that you are using will automatically the borrowing for you. Margin trading is very risky and the more the leverage the more the risks. Trading generally be it spot or margin is also risky. It is better to buy and hold either on short or long term.

Another one is derivative market. There are different types like perpetual future and options. They are the riskiest because you can use higher leverages. Some people use high leverage and lose consistently.

Quote from: tranthidung on July 17, 2024, 10:21:06 AM

Their common thing is leverages but Bitcoin is one of things you can trade on Forex. Forex market has longer history than Bitcoin market and has bigger trading volume too. You can trade Bitcoin on Forex like gold, silver, rice, sugar and and more.

Bigger trading volume does not matter because you can trade bitcoin and even lower ranked coins like ethereum and many others on most exchanges and the trade would be filled immediately at good market price.

Quote from: tranthidung on July 17, 2024, 10:21:06 AM

You can trade Bitcoin with leverages in Margin or Futures trading directly in Bitcoin market, on Bitcoin exchanges. If you use leverages in either Forex or Bitcoin market, you will have same risk, risk of forced liquidation on your position and collateral.

You are correct but do you know that derivative market like perpetual future is not actually bitcoin? The real bitcoin are spot, margin and P2P.

avikz

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

Forex market is very old when compared to Bitcoin. I have seen people making millions out of forex market and at the same time I have seen people losing all their money in the blink of an eye.

From the trading perspective, it's all same! It's all about speculation on a certain trading pair. Both are risky and both are rewarding at the same time. But I would say the cryptocurrency market is more volatile than forex. From a trader's perspective, both are mostly same!

tranthidung

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Quote from: Obi-Ejike Banito on July 17, 2024, 10:16:05 AM

I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

Their common thing is leverages but Bitcoin is one of things you can trade on Forex. Forex market has longer history than Bitcoin market and has bigger trading volume too. You can trade Bitcoin on Forex like gold, silver, rice, sugar and and more.

You can trade Bitcoin with leverages in Margin or Futures trading directly in Bitcoin market, on Bitcoin exchanges. If you use leverages in either Forex or Bitcoin market, you will have same risk, risk of forced liquidation on your position and collateral.

Advice from me: Don't trade your bitcoin anywhere, especially with leverages. Trading like this, will cost you your bitcoin. I mean you will probably lose your bitcoin in trading. Rather than trading, holding your bitcoin as investment, and wait for 1, 2 or 3 cycles or even more cycles, to take profit and get better financial life.

Obi-Ejike Banito

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I have been into bitcoin and other cryptocurrency trading and I have seen how most persons endulge in forex and make it big while some persons lose massively.
I would want to understand fully the differences in trading bitcoin and doing forex and if they are similarities.
Please help out.

Topic: BITCOIN IN RELATION TO FOREX. (Read 167 times)