Can I trade cryptocurrency with FX trading knowledge?

Symmetrick

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Charts, price movements, levels, trendlines, etc., they are the same everywhere. When I learned to understand all these charts, I used stock market training material and the knowledge gained from these materials perfectly suited the crypto markets as well. The difference between the crypto market and the forex markets or stock markets is that here the market is open around the clock and events are developing much more dynamically than, say, in the stock market. Cryptocurrency has always been famous for its insane volatility. The only disadvantage, as for me, compared to the stock market, is that you can not prepare for trading and analyze the current situation while the market is closed. Here you have to analyze right away, while the auctions are already going on.

milewilda

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Quote from: palle11 on April 14, 2022, 02:35:38 AM

Quote from: 19Nov16 on April 13, 2022, 11:41:56 PM

even the analysis we use is always the same, maybe the difference is price fluctuations which are like a roller coaster if we trade in crypto, and I think this is what makes us prefer crypto trading than FX trading.

About the analysis of FX and crypto is always the same if you are talking on that and the reason is that crypto is not regulated and bitcoin is not owned by any government as it is decentralised. What drives the cryptocurrency market is not the same with FX. However they both are very volatile but FX fluctuation can be determined to the direction it is going because they are particular news on a particular currency.

FX thing is really dependent when it comes to fundamentals most of the time thats why when you are a FX trader then you should really make yourself get used to be aware or expose of anytime
with real time events happening around specially on finance or economic matters because this is where you do mostly able to find out yourself to be that effective unlike on crypto market that it could
really move out without depending with these fundamentals which it is really making such move without any particular reason.Speaking with volatility is the main difference in terms of level of
% on where it could possibly move on a single day.

Benefactor

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The fundamental contrast here would just be on the objective market, so that is something different you need to concentrate without any preparation also reading up all the language for the crypto stuff if you truly have any desire to dig profound. The distinction among Forex and Cyrpto exchanging is in the resources exchanged. Remember to decide the trade you need to use to exchange and should be ready to do KYC on the trade that requires it.

palle11

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Quote from: 19Nov16 on April 13, 2022, 11:41:56 PM

even the analysis we use is always the same, maybe the difference is price fluctuations which are like a roller coaster if we trade in crypto, and I think this is what makes us prefer crypto trading than FX trading.

About the analysis of FX and crypto is always the same if you are talking on that and the reason is that crypto is not regulated and bitcoin is not owned by any government as it is decentralised. What drives the cryptocurrency market is not the same with FX. However they both are very volatile but FX fluctuation can be determined to the direction it is going because they are particular news on a particular currency.

19Nov16

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Of course, if we have ever traded in FX, there will be many similarities with crypto trading, even the analysis we use is always the same, maybe the difference is price fluctuations which are like a roller coaster if we trade in crypto, and I think this is what makes us prefer crypto trading than FX trading.

Silberman

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Quote from: justdimin on April 11, 2022, 04:03:28 PM

Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

I have a friend who did this. He was in the finance world, got in during summer of 2017, when the price first got up, at the BCH fork period. Then he stayed here for a long time, up until around late 2020 he turned his 40k dollars into nearly one million dollars, which was already astounding, but then during 2020-2021 period when the price started to skyrocket, he turned that into few million dollars instead.

That is how he got rich and I believe that it is certainly an amazing achievement. All he had with him was his previous Forex trading knowledge, and he used those charts and TA to make this kind of profit in the crypto world as well.

Without a doubt that is an impressive story, however he probably had a deep knowledge about the markets and back then the average level of the ones trading this market was relatively low, now that the market has more volume and adoption more people like your friend are coming to the market, increasing the average level of the traders and at the same time lowering the potential profits they can obtain, but still this shows how you can easily transfer your skills from other markets to this one without too much of a problem.

justdimin

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

I have a friend who did this. He was in the finance world, got in during summer of 2017, when the price first got up, at the BCH fork period. Then he stayed here for a long time, up until around late 2020 he turned his 40k dollars into nearly one million dollars, which was already astounding, but then during 2020-2021 period when the price started to skyrocket, he turned that into few million dollars instead.

That is how he got rich and I believe that it is certainly an amazing achievement. All he had with him was his previous Forex trading knowledge, and he used those charts and TA to make this kind of profit in the crypto world as well.

jostorres

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Quote from: Webetcoins on April 10, 2022, 02:08:56 AM

Whether crypto, forex, stocks, etc. all types of trading, their goal must be the same and that is to earn. We can only achieve that if we buy an asset at a lower price and sell it at a much higher price so the answer to the op's question is yes. It is normal if you can't perfect your strategy because the truth is there no perfect in this world, much especially in crypto trading because prices here are so volatile. You can try to formulate another strategy and use that when the market turn sideways.

Basic knowledge in crypto is enough but yes a general knowledge is much better because crypto trading is more complex and there's more terms that you will need to familiarize

The main aim of everything is making profit by buying the assets at a lower price and selling them at higher price. But, how do you know when to buy and when to sell or are you just going to be jumping in at any price and hoping that you made the right choice and expecting profit? It doesn’t work that way, you will need the knowledge that would help you do that.

If he has learnt about indicators and other strategies that are involved in trading, then he’s good to go. Same thing applies to cryptocurrency, except the volatility part, so would be good he also looks into learning a bit more about crypto before he starts.

wiss19

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Yes, in some ways the knowledge that you have got in FX trading would help you, but it is not all that you’re meant to know because there is still a lot of things for you learn. Why I said it will help you is because of the orders, indicators and stuffs like that, they are both similar.

But, right now I would say that if what you would prefer to trade is Crypto, then divert your area of focus in your study to cryptocurrency, because there are still some things you would have to learn, though you’re now good to an extent. It’s good to know more specific things on what you’re about to do.

Vaskiy

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Every form of trade have the same basics. So, it is possible to get involved into trading with the knowledge acquired out of forex. You should also keep learning about cryptocurrencies, because it is something completely different from the forex market in terms of the market variations. One of my friend who is stock market investor got into cryptocurrency trading. He found it difficult to predict the market, slowly he started to learn and now he's good with it. So, it takes time to make better position in cryptocurrency trading.

Silberman

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

You can in fact trade this market using the knowledge you have accumulated from other markets like Forex, however it requires some adjustments, the most important of all is that since the volatility of this market is greater than what you can see in the forex market then the size of each one of your trades needs to be lower, as there is the risk you could lose too many times in a row and deplete your capital way too fast, but other than that your trading skills can translate really well in this market.

Woodie

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Yes you can as trading concept is all the same, but some adjustments will need to be done as forex assets such as currencies etc have several factors which affect them and won't apply with cryptocurrency assets.
As a crypto trader one needs to know what kind of news will have some major impact on these assets and the alike but overall your FX trading knowledge can be applied here.

iv4n

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Quote from: tvplus006 on April 10, 2022, 03:52:06 AM

Quote from: Bamjos on April 06, 2022, 05:32:00 PM

...can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Despite the apparent similarity of forex and the cryptocurrency market, there is a major difference, which lies in the higher volatility of the cryptocurrency compared to fiat. So taking this into account, you will be able to use the knowledge gained earlier when trading with cryptocurrency.

To volatility is higher, but the base is the same, you try to buy at lower and sell at higher prices! Any mistake will lead to money loss, in forex, and in crypto! I would say that forex and crypto trading are very similar, but what can happen in crypto for one week in forex someone needs to wait months!

If someone has some base knowledge about the trading he will understand crypto trading a lot faster, many things are almost the same, but as we said the circle is just faster, so that means in crypto changes happen more often! This is good for most of the newcomers, at least it's possible to make some nice profit a lot faster than in forex trading!

tvplus006

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

...can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Despite the apparent similarity of forex and the cryptocurrency market, there is a major difference, which lies in the higher volatility of the cryptocurrency compared to fiat. So taking this into account, you will be able to use the knowledge gained earlier when trading with cryptocurrency.

Webetcoins

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Whether crypto, forex, stocks, etc. all types of trading, their goal must be the same and that is to earn. We can only achieve that if we buy an asset at a lower price and sell it at a much higher price so the answer to the op's question is yes. It is normal if you can't perfect your strategy because the truth is there no perfect in this world, much especially in crypto trading because prices here are so volatile. You can try to formulate another strategy and use that when the market turn sideways.

Basic knowledge in crypto is enough but yes a general knowledge is much better because crypto trading is more complex and there's more terms that you will need to familiarize

CryptocurencyKing

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Trading has come to be one of the most exploited field around us these days, as much more money could be made off it from the comfort of your home and you wonder where or whom they are making this money from?
Inexperienced forks like yourself and me too. Yeah, I do get it wrong some times.
When it comes to trading cryptos with knowledge from Foreign Exchnage trading, its not entirely different. General knowledge of buy low and sell high applies but, there are different elements to them.

Like, the forex market operates mainly based on news. Once America or as we had it then, Trump makes one of his speeches on his Tweet handle, you could observe the market taking a different turn.
When it comes to cryptos, a whole different scenario plays out. What happens here isn't completely certain but, you watch out for innovations like halving and for sure FUD and what have you to exercise caution and you should be good with indicators and technical analysis.

Although, you could always buy and hodl to escape several uncertainties.

taufik123

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Not very familiar with Forex trading because I started with crypto trading. But some that I know Forex and crypto both have a way of analyzing with technical analysis and Fundamental analysis. Not much different.

The striking difference is the time for trading, Forex cannot trade 24 hours non-stop, only during business hours can trade on Forex Saturdays and Sundays are holidays. As for crypto, of course, 24 hours full time, no holidays. Crypto volatility is also greater than Forex, because crypto has a higher risk, High risk High Return.

sarmrakib

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Forex and crypto are bit different about it prices .You were saying that you have taken few courses on Forex trading it means that you are not much experienced there as well .So that what you need to do ,learn more and study on it surely you will have lots of idea on both .Crypto is much and more volatile market from Forex so that here is the chance a lot to earn and also you may loose your fund to early .There are many more concern on this two but i suggest you to go with crypto and you will have lots of video on youtube and blog about crypto and difference with Forex as well .After having a good knowledge you may start with small fund and surely you will have good idea.So you may start to do your study on crypto trading .

Mauser

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Any trading course helps you with crypto currency. There are a lot of subjects in trading which are the same for all types of assets. For example, risk management and controlling your emotions when making investment decision are very important in trading Fiat currencies and crypto currencies. If you have a good trading strategy in the FC you can try to copy it to bitcoins and other cryptos. Just make sure to monitor your trades closely, there is no guarantee that it will also work. The future prices in fiat currencies are much more fixed than crypto prices. This higher volatility creates many opportunities for traders, but can also bring bigger losses. The fiat money is so stable because of central banks that guarantee interest rates. So if currency A can get a 2% risk free interest in 1 year, while currency B has 0% interest from the central bank than we know today currency A will be stronger in 1 year. Such predictability we don't have in the crypto world.

fauzan Ichsan

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basically forex trading and cryptocurrency is the same. if we follow a chartist analysis, both have the same basis. But what makes the difference is that sometimes we can't use technical analysis on new coins or coins that have a small market cap, because they are prone to hype and analysis can't work well. Even in crypto there are indicators that are the same as forex and form support and resistance, so I can combine them to create a framework. I often use this analysis on bitcoin, ethereum and bnb, On the other hand, for short-term trading, of course, I choose a smaller time frame, so it can be used for daily trading

GreatArkansas

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Another thing to consider when you are coming from other markets just like Forex.
I know some traders who are new to cryptocurrency markets that are coming from Forex, they are really surprised by the cryptocurrency market. As the first they encounter is volatility and the 24/7 market.
So always be ready for new things you will encounter, but your knowledge is also useful, especially the technical part like how to analyze charts.

Findingnemo

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

The concept is same but you have to get the knowledge about cryptocurrencies to find the right pairds because different assets different volatility range so you can't simply go and start trading without clear basic knowledge atleast about the bitcoin and centralized exchange.

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Forex trading and crypto trading are 2 things that sound almost the same but in reality they are different. Even so, the concepts in the two trades also have differences. However, the basic knowledge of both trading is almost the same, the only difference is in its development. Therefore, if you understand the basics of forex trading, you will most likely quickly understand crypto trading.

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

I don't know much about forex trading but I know they may be similar in some extent and somehow different. If you have knowledge about forex trading it can also be an advantage to your crytocurrency trading, the knowledge you have gained from your forex trading can be important in crytocurrency trading. No knowledge in life is a waste.

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Quote from: kesmex on April 09, 2022, 05:12:40 AM

Quote from: nhaila on April 08, 2022, 06:03:06 PM

Quote from: Bitcoin_Arena on April 06, 2022, 06:56:10 PM

I learned forex trading first before getting into crypto, and the good news is that the concepts are similar, especially with derivatives. You will find similar order types, technical indicators etc. Just make sure you get an exchange where you can practice trading with little money at first.

Technically forex trading and general cryptocurrencies trading same but some people take it different. Knowledge and experience fully depends on person to person but not trading platform. You can use your forex trading knowledge in general cryptocurrencies trading.

It's not much different but there are several things that distinguish forex trading from crypto trading,
but indeed if we already have knowledge about trading whatever it is I think it will make it easier for us to understand crypto trading or forex trading

In general from the graphs and analysis of course almost the same, what distinguishes forex is the choice and the opportunity for profit or loss is very high if we trade in cryptocurrencies, previously I have traded in forex and when I open transactions for almost a month then the price stagnates and makes me no longer interested in trading in forex.

kesmex

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Quote from: nhaila on April 08, 2022, 06:03:06 PM

Quote from: Bitcoin_Arena on April 06, 2022, 06:56:10 PM

I learned forex trading first before getting into crypto, and the good news is that the concepts are similar, especially with derivatives. You will find similar order types, technical indicators etc. Just make sure you get an exchange where you can practice trading with little money at first.

Technically forex trading and general cryptocurrencies trading same but some people take it different. Knowledge and experience fully depends on person to person but not trading platform. You can use your forex trading knowledge in general cryptocurrencies trading.

It's not much different but there are several things that distinguish forex trading from crypto trading,
but indeed if we already have knowledge about trading whatever it is I think it will make it easier for us to understand crypto trading or forex trading

danherbias07

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IMO, I find it easier to trade cryptocurrencies than Forex. I don't know why, maybe it's just me. Or maybe because I had been following the movement of cryptocurrencies for years that's why it's not as difficult as other thinks.
That might be one of the keys to being better at trading cryptocurrencies, having knowledge about the price history and its fluctuations.
As long as you have the basics then there's no problem, there are different TA's out there but you could always create your own if you are in doubt about their analysis. Besides, it's not always right.

worle1bm

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I would say if you are there total newbie to the crypto trading then you should first learn some basic rules of market but as you already have enrolled for forex courses you might be familiar with some of them.But still it's very risky and different market scenario.So you can open up a demo account for trading and have practical experience with fake money but all the trading related knowledge will put in like orders, stop limits giving you beforehand ideas how to give a start.Rest choosing the right coin will be first thing you need to do and learn with time.

stomachgrowls

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Quote from: Scripture on April 08, 2022, 06:53:28 PM

You already have knowledge about FX and I think you can easily adopt crypto trading, you just need to improve your skills and learn more about trading, in general they are all the same its just that volume and supply are different. Trading is not easy, it takes a lot of time to learn the process it may be hard at first but if you do believe and really want to learn trading, nothing is impossible.

You would really be having the advantage when you are having that knowledge or idea on dealing with other markets.If you do find yourself that effective or profitable in FX then most likely you would

able to handle out cryptocurrency market which you could actually able to determine and notice the difference in terms of volume and volatility.There's no close or opening of markets
which crypto market is open 24/7 which is also a big difference.You could make trades whenever and what time you do want.Watch out for price volatility and different fuds and news in the market.

Scripture

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You already have knowledge about FX and I think you can easily adopt crypto trading, you just need to improve your skills and learn more about trading, in general they are all the same its just that volume and supply are different. Trading is not easy, it takes a lot of time to learn the process it may be hard at first but if you do believe and really want to learn trading, nothing is impossible.

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Quote from: Bitcoin_Arena on April 06, 2022, 06:56:10 PM

I learned forex trading first before getting into crypto, and the good news is that the concepts are similar, especially with derivatives. You will find similar order types, technical indicators etc. Just make sure you get an exchange where you can practice trading with little money at first.

Technically forex trading and general cryptocurrencies trading same but some people take it different. Knowledge and experience fully depends on person to person but not trading platform. You can use your forex trading knowledge in general cryptocurrencies trading.

Franctoshi

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Capital yes to your question, Forex trading brought about crypto trading, therefore there isn't much different between the two , the major difference here is that you hodle crypto (spot trading) why it's not so with Forex trading.So someone with forex trading experience will find it very easy to cope in crypto space. Just that you need more advanced training on crypto because of its transaction.

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Quote from: Crypto Library on April 08, 2022, 05:08:03 AM

There is not very much difference between the Forex trading and Crypto trading, but there are some things to keep in mind. And since you want to invest in crypto, get a good knowledge of crypto first. Moreover, there is not much difference between crypto and forex trading in terms of trading. It is better to invest a little at the beginning because there is always a possibility of loss in trading. So invest as much as you can handle the loss

What you need to learn is the fundamentals of crypto. Broadly speaking, Forex and crypto trading are almost the same, I think the knowledge of trading in forex is sufficient to trade in crypto, it's just a matter of characteristics that need to be explored because crudely crypto and forex are different types.

And as you said above, money management is important to avoid excessive losses.

ethereumhunter

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I think the analysis might be almost the same between foreign exchange and cryptocurrency trading but you should find out more. It all takes some getting used to understanding how the system works and I presume you already have the basics in trading so you probably won't have any trouble. You can learn from the threads here or search on Google about cryptocurrency trading and don't forget to put it into practice so you'll know what the difference is. Don't be afraid if you can't make a profit because it's all a matter of time.

palle11

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

OP asked a simple a question like this and I want to give a straight answer to say yes you can use the experience of both trade for each. Forex trade is trading of fiat currency , it is regulated but cryptocurrency isn't regulated. In trading you need TA and fundamental analysis, both market use it to navigate. In trading you need indicators and in both it is present and used. The knowledge and skill are the same.

Cookdata

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Everything you see on cryptocurrency trading pairs today was developed through the creative art of forex, so approach crypto trading as if you were doing the same. Despite the fact that crypto trading has certain regulatory issues such as volatility and other things that may result in you losing some money. These problems cannot be controlled because no government can control the crypto market, but there are some trading exchanges dedicated to specific jurisdictions, like Binance US, it is carefully regulated and monitored to avoid things like wash trading and whale manipulation.

If you know how to trade forex, you're fine to start with cryptocurrency trading, but I'd also recommend getting some more information and materials like Binance Academy^[1] and Alexandria on coinmarketcap^[2].

[1] https://academy.binance.com
[2] https://coinmarketcap.com/alexandria

Crypto Library

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There is not very much difference between the Forex trading and Crypto trading, but there are some things to keep in mind. And since you want to invest in crypto, get a good knowledge of crypto first. Moreover, there is not much difference between crypto and forex trading in terms of trading. It is better to invest a little at the beginning because there is always a possibility of loss in trading. So invest as much as you can handle the loss

Wexnident

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Should be fine, the general idea of what to do and how to read the market should be rather similar, if not the same. The main difference here would only be on the target market, so that's a separate thing you have to study from scratch (not to mention studying all the jargon for the crypto stuff if you really want to dig deep). Try doing what you feel is right for a few weeks, that should be enough to show whether what you know is enough or you need to learn the market better than now.

Strongkored

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It seems that you haven't really done forex trading just have done the course, but it's not a problem you can directly apply the knowledge obtained with small funds, you already have a basic trade from the course the other things you will find when you start doing it directly. The difference between Forex and Cyrpto trading is in the assets traded. Do not forget to determine the exchange you want to use to trade and must be prepared to do KYC on the exchange that requires it.

Bitcoin_Arena

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I learned forex trading first before getting into crypto, and the good news is that the concepts are similar, especially with derivatives. You will find similar order types, technical indicators etc. Just make sure you get an exchange where you can practice trading with little money at first.

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Quote from: Bamjos on April 06, 2022, 05:32:00 PM

I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

If you already have some Forex trading experience then dealing with crypto wont really be that much hard compared when you are a complete newbie but
here are the things that you should consider or be mindful.

1. Volatility
2. Fundamentals (this market is highly reactive to this)
3. Dont anticipate or expect that TA's does precisely works or the price follows because this market could fucked you up anytime.

Having TA knowledge is already a plus.All you do need is to familiarize yourself.

TimeTeller

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Quote from: serjent05 on April 06, 2022, 06:05:15 PM

I think what is important here is the foundation of your trading knowledge, since you already grasp the basics and probably had advanced knowledge on trading, you can use that to trade cryptocurrency. You just need to change the variables like information, the kind of cryptocurrency you are trading, etc.

The concept from fx trading can help the OP in crypto trading.
I even started trading in crypto without the knowledge of fx.
So yes, it is possible for him to learn the ropes here.
He can start small, and try a reputable exchange in the beginning of his journey like binance.
They have very good liquidity. And also, start with top alts, don't be tempted from this meme or hype up tokens.

naira

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Studying specifically is certainly a good solution to find out according to the stages. But that's not enough, you have to be creative. Creative here what I mean is not relying on special guided learning. You should also look it up yourself and study additional information. For example in this forum will be available a lot of readings for reference. Because to learn about cryptocurrencies you have to be information literate and you shouldn't be lazy about the ins and outs of updated growth in the crypto world itself.
Given that if you want to know cryptocurrency, then you will be faced with thousands of information and thousands of various cryptocurrencies. In addition to filtering which ones are suitable and which are not to invest in, try to focus on getting to know, learn and know the purpose of the crypto, such as studying CoinMarketCap top 50 projects.

serjent05

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I think what is important here is the foundation of your trading knowledge, since you already grasp the basics and probably had advanced knowledge on trading, you can use that to trade cryptocurrency. You just need to change the variables like information, the kind of cryptocurrency you are trading, etc.

Oshosondy

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What is mostly matters is that you know about trading orders already, you know about indicators and the basics. Both forex and crypto trading are very similar but with few difference. I will advice you to learn more about trading, even you are newbie in forex trading, that means you need to learn more. Start with like $50, trade each time with like $11 from the $50 and learn more.

Use the money you can afford to lose to trade, trading is highly risky. Know that cryptocurrencies are highly volatility.

Bamjos

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I must admit that I'm truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I've not been able to perfect my strategies though, but I'm curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I've acquired in Foreign exchange trading?

Topic: Can I trade cryptocurrency with FX trading knowledge? (Read 332 times)