Just to know, what do you think about forex? is that market similar to crytpcurrency??
i'm wondering what capitals you need to live just with forex, i seen that the average volatility of forex is about 1/3% daily, so, i guess you have a biiiiig amount of money for live with forex....
i'm a nOOb in trading, just asking
This volatility in cryptocurrency is a mine of gold, how long did you think that this funny games will continue to be like that?
In Forex trading you can use the leverage, so you can turn a +0.5% into a +50%. Of course you can also turn a -0.5% into a -50%
You control the risk/opportunity, you set your potential risk and your potential profit. It is the same for crypto.
People usually say "I don't invest in bitcoin/crypto because it is a very risky investment". That's a stupid thing to say about investments. If you have $10,000 to invest, no one is telling you to buy $10,000 worth of bitcoin. You can invest $100 in bitcoin and you are risking only 1% of your total asset.
Again, you are in control of the risk.
I think that Forex market is very different from cryptocurrency and I prefer Forex for 3 main reasons:
1. Brokers are regulated (at least if you know what to choose). They are regulated by national institutes and in most cases you get back up to $50,000 in case of bankruptcy. I use bittrex for crypto, but when I opened an account with them, the only thing about regulation that they had on the contract was: "Bittrex is based in the United States and our Services are subject to U.S. law." I might not be an expert about cryptocurrency, but it looks obvious that your money is not safe on these exchanges.
2. Technical analysis makes more sense in Forex trading. Technical analysis is used to understand where supply and demand are addressed, in order to try to catch the next price movements. In crypto world, it seems that the price is only driven by fast speculation. It's hard to find an uptrend that lasts for weeks or months (excluding bitcoin).
3. Fees are much lower.
Yes, but you risk a lot, that risk that i avoid while using a strategy based on support/resistance and a Hedgind Strategies (Averaging down dollar cost), i draw support and resistance, then i plan that the stock could reach the point 0, i will plan the amount of BTC needed for reach point 0, and then, at every support resistance i double/triple up my initial position in a way that i can use the cryptocurrency volatility for making money, this strategies has avoid me losses in the last 2 months, maybe not the most profitable strategy, because i ever start with 0.001 BTC for each position, but, sometimes, doubling up at every support, i get some trades with 0.2+ btc from the starts of 0.001...anyway i sell in profit 99% of the times without being a bag holders.
A strategy like that for averaging down the dollar costs and use that volatility for makes lots of profit and avoid the loss by averaging down is not possible in forex, it's more like a gamble, than, i also saw that in forex the minimum amount of money that u could invest is 100$, so, starting a position with 100$ and maybe averaging down x4/x5 times could be stressful... can you give me some advice about that strategy?? do you think that it could work also in forex market?? could i use leverage while averaging down?