Topic: Bitcoin traders, why don't you just trade forex? - page 27. (Read 25231 times)
sorry to inform you but the gains far outdo the risks for a smart trader, with thousands of stupid traders it makes it insanely easy to predict the price within a few hours to 2 days(the weekend drop).
i don't do trading in traditional forex or bitcoin but my impression would be if you are trading in traditional forex you would be competing with many many big players with a lot more information/advantages than you would likely have.
the under-development of bitcoin and the perception of lack of sophistication in general of most of the traders would perhaps be attractive to would be traders as they may reckon themselves to be better traders than the majority and thus able to trade successfully.
the under-development of bitcoin and the perception of lack of sophistication in general of most of the traders would perhaps be attractive to would be traders as they may reckon themselves to be better traders than the majority and thus able to trade successfully.
I trade both along with stocks and options.
So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
With bitcoin you get volatility to make daytrading attractive and no shady central bank rigging the prices. Forex trading is simply a game of chance, reading the brain of central banks (and the volatility is crap).
There's plenty of volatility in FX, but it's tradeable volatility. Bitcoin has blow out your account in one trade volitility; that's why it blows my mind that people feel like it's a good place to learn. It's not a true trading market; that amount of volitility makes it a casino. It's probably the worst place you could possibly learn.
Also, lol at central banks rigging prices. It's a multi-trillion dollar market, they have to play it just like everyone else and they have the disadvantage of being big and slow. You'd rather take your chances with a market so small that one guy with a moderate sized bank account can control it?
what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
Because at the end of the day, I want to be holding bitcoin, not Zimbabwe dollars.
So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
With bitcoin you get volatility to make daytrading attractive and no shady central bank rigging the prices. Forex trading is simply a game of chance, reading the brain of central banks (and the volatility is crap).
I guess my perception is that I hold Forex with a large degree of caution. I'm guessing that were I trading in forex I would likely be cleaned out by now.....at least this way I got lots of trades for little cost and get to use this market as a means to learn before tackling other markets.
Also, it means being involved in the exciting project that is Bitcoin along with options to spend and partake in a new and developing economy online. Also, the term geek cash would apply as I'm a technologist by nature and any chance to experience new realities presented by technological advances is something that I love with a passion.
Also.....it's cyberpunk as hell and that's fucking awesome in my book!
Also, it means being involved in the exciting project that is Bitcoin along with options to spend and partake in a new and developing economy online. Also, the term geek cash would apply as I'm a technologist by nature and any chance to experience new realities presented by technological advances is something that I love with a passion.
Also.....it's cyberpunk as hell and that's fucking awesome in my book!
I see there are a lot of first time traders trading Bitcoin via the hack exchanges of MtGox and Tradehill. It makes me wonder, why don't you guys just trade real forex? You can open micro accounts with as little as $25. You get security far better than these shady exchanges. You get real customer service with a real business that won't disappear and leave you only an email address to cry to. You get real trading platforms with reliable data, not some ghetto hack stuff. You get plenty of liquidity, which allows of smooth trading. And, best of all, you don't have to worry whether it's legal or not! Trading is hard enough as it is, why anyone would want all these additional factors working against them is beyond me.
So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
So, to all the bitcoin traders out there... what are your reasons for trading these shady, unsafe bitcoin markets over regular FX?
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