Forex traders: why did you come to cryptos? - page 2.

jonald_fyookball

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Core dev leaves me neg feedback #abuse #political

Quote from: David Latapie on April 19, 2014, 06:06:52 PM

Quote from: jonald_fyookball on April 19, 2014, 06:04:03 PM

you can't trade both directions on cryptsy like you can on forex.
altcoins have greater spreads, more pump and dump action
vs reliable price action.

but easiest money appears to be just buy and hold bitcoin.

Or invest in just-dice (investing, not gambling)

If I understand correctly, altcoins is more risky than forex?

I think so. Look at all the altcoin charts. With the exception of a few (litecoin), its all pump and dump.
Unless you can short altcoins, you'd be trying to trade countertrend.

franky1

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for me it was

fee's
lack of community
the whole bank transfer polava
lack of volitility meaning only small profits, but requiring large sums just to get to see small profits
the fact that you are miliseconds-minutes behind the market makers, meaning your not abl to trade the changes the milisecond they happen.

yet with bitcoin. its easy, cheaper and faster to play the spread. using smaller lump sums to gain profits allows for use of many lumps to take advantage of other movements you could have missed with the first lump sum.

id never go back to forex, thats for sure.

David Latapie

hero member

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Monero Core Team

Quote from: jonald_fyookball on April 19, 2014, 06:04:03 PM

you can't trade both directions on cryptsy like you can on forex.
altcoins have greater spreads, more pump and dump action
vs reliable price action.

but easiest money appears to be just buy and hold bitcoin.

Or invest in just-dice (investing, not gambling)

If I understand correctly, altcoins is more risky than forex?

jonald_fyookball

legendary

Activity: 1302

Merit: 1008

Core dev leaves me neg feedback #abuse #political

you can't trade both directions on cryptsy like you can on forex.
altcoins have greater spreads, more pump and dump action
vs reliable price action.

but easiest money appears to be just buy and hold bitcoin.

David Latapie

hero member

Activity: 658

Merit: 503

Monero Core Team

Hi,

I read several times (on altcoin boards) someone mentionning his/her experience on Forex. My question is: why are you on cryptos?
- mere curiosity (the person I read seemed to be heavily on cryptos, though)
- still on forex, just diversifying
- forex is too hard
- forex is too simple (!)
- forex requires much larger amounts of money
- ...

So you tell me. I instinctively think that forex is better than major crypto (LTC, BTC) itself better than minor crypto (cryptsy and mintpal) themselves better than the LTC market (or, god forbids, the DOGE market). But I might be wrong.

Care to enlighten me?

Thank you

Topic: Forex traders: why did you come to cryptos? - page 2. (Read 1377 times)