Investing In Crypto Genuine Better Than Trading Forex - page 2.

rodskee

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Quote from: dondonk on August 08, 2020, 03:44:37 AM

when we are accustomed to trading with crypto and start to feel comfortable it is better to continue to be on the crypto path.

If you are already comfortable and already established your skills it's better to continue and
take your opportunities to make more money

Quote from: dondonk on August 08, 2020, 03:44:37 AM

Switching paths to forex is certainly different and requires different psychology. adopting the same mentality will make us lose assets.

Very True, different venues needs adjustments and different approach, not because there's
similarities means that it's completely the same.
Chances that flows and movements will burn your decision making. You need to adopt and
established your emotions to avoid losing your money.

Quote from: dondonk on August 08, 2020, 03:44:37 AM

Preparing mentally and learning patterns before starting is the right step.

In every journey you take, it's always best to have knowledge and right mindsets, it will lessen
the chance of losing your hard earned money.

dondonk

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when we are accustomed to trading with crypto and start to feel comfortable it is better to continue to be on the crypto path. Switching paths to forex is certainly different and requires different psychology. adopting the same mentality will make us lose assets. Preparing mentally and learning patterns before starting is the right step.

bitgolden

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Quote from: Toracee on August 05, 2020, 10:59:35 AM

Since January this year, I have been trading forex as a second passive income earning. After making some money in crypto I venture into trading forex, but I got my finger burnt. I wasted a lot of money without making a single profit. I regretted this venture. I have come into conclusion that investing in the genuine crypto project is far better than trading forex. The risk in trading forex is higher than investing in a genuine crypto project.

Psychologically it is better as well, right now there is a chance that forex could upset you even more because in forex what we are talking about fiat and that is why I think it is vital importance that forex has to do well, if not that means your country is not doing as well. Think about it, if you are doing forex with your national fiat versus dollars and dollar becomes much better while your own fiat drops a lot, you might use forex and make a profit from this, yet it is still horrible for you because your nations fiat currency is dropping in value and that means you as a whole nation dropped in economy.

Whereas in crypto, it goes up or down but no nation is affected by it like that, bitcoin could be zero and only the investors are affected, population of all nations are fine.

taufik123

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Crypto and Forex each have their advantages and disadvantages and have several risks that you need to understand first.
Forex trading carries a very high risk if you don't master the analysis. Your money will be lost no matter how much if you do not know the knowledge of trading on Forex. However, for crypto it has a lower risk compared to Forex, fluctuating prices in crypto will not lose your assets, but will only reduce the value of these assets. all you have to do is wait for the price to rise and don't sell below your purchase price.

As a lesson for you or all of us, don't enter into a trading platform that we haven't mastered, it will only waste our money for nothing. Better to learn it first.

leea-1334

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Quote from: Toracee on August 05, 2020, 10:59:35 AM

Since January this year, I have been trading forex as a second passive income earning. After making some money in crypto I venture into trading forex, but I got my finger burnt. I wasted a lot of money without making a single profit. I regretted this venture. I have come into conclusion that investing in the genuine crypto project is far better than trading forex. The risk in trading forex is higher than investing in a genuine crypto project.

Be careful my friend,,, crypto makes everyone look good during a bull market, which is what this whole year has been if we are honest apart from the March crash which took a month to return crypto markets to normal,,, whereas forex is a mature market that does not always have the huge volatility we see almost weekly and daily in crypto.

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Quote from: Toracee on August 05, 2020, 10:59:35 AM

Since January this year, I have been trading forex as a second passive income earning. After making some money in crypto I venture into trading forex, but I got my finger burnt. I wasted a lot of money without making a single profit. I regretted this venture. I have come into conclusion that investing in the genuine crypto project is far better than trading forex. The risk in trading forex is higher than investing in a genuine crypto project.

All kind of investment and trading has risks. You can't say crypto trading is better than forex or vise versa. Each has their pros and cons.
If you aren't making any profit in forex, what makes you sure that you will be making profit by trading crypto currencies? You are also planning to invest on crypto projects. Around 90% of the projects in the crypto market are scams. So high chances you will be losing money.

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Quote from: Upgrade00 on August 06, 2020, 01:13:03 PM

Quote from: Toracee on August 05, 2020, 10:59:35 AM

I wasted a lot of money without making a single profit.

You shouldn't be investing a lot of money into something you have not properly adapted to. The same process should be applied for a completely new trader; do your research, practice on demo, pick a strategy and start small.

This is the number one rule in investment, do not invest if you are not sure about how that things work or happen. If you're not good at it and you don't feel to grow on that platform, then don't push it. There's always a risk when it comes to asset and money, it takes a lot of courage for you to pursue the investments that you want to engage.

If you are sure about your fate in an investment that you will do, then you can risks a lot of money if you somehow have control about the results of your investment.

It is about sacrificing, it is about facing the consequences that you will have in cryptocurrency.

But for you, you found Crypto Genuine project much effective for you so deal with it, we really have different preferences and skills when it comes to that.

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Quote from: Toracee on August 05, 2020, 10:59:35 AM

Since January this year, I have been trading forex as a second passive income earning. After making some money in crypto I venture into trading forex, but I got my finger burnt. I wasted a lot of money without making a single profit. I regretted this venture. I have come into conclusion that investing in the genuine crypto project is far better than trading forex. The risk in trading forex is higher than investing in a genuine crypto project.

Sorry to hear that, OP.
But you are not the only one who failed in forex trading. When i was already decided to try forex trading, my brother disrupt me from doing so. Because he has also huge deficit into it, although he continues to learn useful tools and knowledge , it seems that it wasn't enough and doesn't prove anything yet from it.

I realized, I still need more time, more wisdom before finally deciding to enter forex trading. At the moment, I am into crypto trading and was doing good into it so far. Anyway, need to focus on that if I have to.

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Losing once doesn't make crypto better than forex. Both have their pros and cons tbh, and it's just a matter of preference and what you're really skilled at. If you were going to make trading as a passive way for earning income, then yea I suppose crypto is a lot better right now since you can profit quite a bit when hodling. Forex on the other hand is a bit more different since changes are more likely to happen when companies are doing something, and they can't really do anything right now with how the world is.

Imo, risks are always 50/50. There's no way for you to actually increase one from the other, even if you do countless research and the like. Especially in crypto, investing in legit projects is a 50/50 chance, and majority of the projects actually fall into the part where they are actually scams.

GreatArkansas

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This kind of topic I am looking for.
For the last few months, I am also planning to enter in trading forex or the stock market, since I only have knowledge of trading cryptocurrency.
For OP, have you tried before to trade cryptocurrency before trading forex? Or any trading experience or any knowledge on trading or you started in forex to learn about trading?

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Quote from: Oasisman on August 06, 2020, 04:32:20 PM

Quote from: Toracee on August 05, 2020, 10:59:35 AM

~snip~

Both have each corresponding risk value. Crypto projects are risky too, considering how some of the projects are still fake and scam, or let's say the project is legit but that doesn't mean It will automatically succeed and gain good market value.
In any investment or trading platform, you need to understand the market and volatility.
If you're not aware, in 2017 and 2018 a lot of people has lost their money because of either failed project and scam projects.

Well you are right, in any form of investment and trading are very risky. Even though that is forex or in cryptocurrency, --the riskt was still there. Now, we should know how to handle risk. Becaus as expert in trading says, --the higher risk the more chances of getting profit you have. Crypto is far better than forex for me, the word volatile of crypto is a potential way of making a profit, stop loss procedure in trading is the best strategy while making profit on a very volatile genuine crypto.

Oasisman

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Quote from: Toracee on August 05, 2020, 10:59:35 AM

~snip~

Both have each corresponding risk value. Crypto projects are risky too, considering how some of the projects are still fake and scam, or let's say the project is legit but that doesn't mean It will automatically succeed and gain good market value.
In any investment or trading platform, you need to understand the market and volatility.
If you're not aware, in 2017 and 2018 a lot of people has lost their money because of either failed project and scam projects.

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Quote from: Toracee on August 05, 2020, 10:59:35 AM

Since January this year, I have been trading forex as a second passive income earning. After making some money in crypto I venture into trading forex, but I got my finger burnt. I wasted a lot of money without making a single profit. I regretted this venture. I have come into conclusion that investing in the genuine crypto project is far better than trading forex. The risk in trading forex is higher than investing in a genuine crypto project.

Don't generalized everything just because you got screwed up. It's your fault for making it messed.

There is no such thing as "crypto>forex" and "forex>crypto". As an investor, you need to do something to make things right. That's the challenge.

And I'm curious about what you think on "genuine crypto project". Like what?

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Quote from: el kaka22 on August 06, 2020, 02:41:46 PM

Of course it is better, forex is all depending on the presidents nowadays, you can see a fiat lose value over night because one president said something silly, that makes absolutely no sense at all, because crypto doesn't have anyone at the top at all, it is run by people and people only, no governments, no politicians, no presidents, there is absolutely nothing we can do to stop the forex one since it is beyond our reach but in crypto we could do whatever want to if we get together as people, we have that power now.

This is why I think there is really no question that crypto is better than forex, I would never even consider trading forex, I never opened any accounts and I would never open one, yet I am really working towards being a better crypto trader because I believe in it.

When it comes to that matter then we do know that currencies does really have that lot of factors on where it can be possibly manipulated without even knowing into those people whom do trade with it.
They do have indeed the power and the capacity on moving up prices or dumping it down according to their likes.It wont really be that obvious though but sure thing its really there.
Forex isnt bad though but the thing you have said which is actually true and this is why some of forex traders do transfer into this market because of several reasons and one is
profitability and next is anonymity/decentralized.

el kaka22

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Of course it is better, forex is all depending on the presidents nowadays, you can see a fiat lose value over night because one president said something silly, that makes absolutely no sense at all, because crypto doesn't have anyone at the top at all, it is run by people and people only, no governments, no politicians, no presidents, there is absolutely nothing we can do to stop the forex one since it is beyond our reach but in crypto we could do whatever want to if we get together as people, we have that power now.

This is why I think there is really no question that crypto is better than forex, I would never even consider trading forex, I never opened any accounts and I would never open one, yet I am really working towards being a better crypto trader because I believe in it.

Upgrade00

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The problem could be that you expected a direct transition between both sectors without seeking out to learn the fundamentals of the new one. Knowledge of cryptocurrency or fx trading does not translate into knowledge of the other and anyone verturung into either for the first time would need to do lots of studying and practicing regardless of their experience in the other.

Quote from: Toracee on August 05, 2020, 10:59:35 AM

I wasted a lot of money without making a single profit.

You shouldn't be investing a lot of money into something you have not properly adapted to. The same process should be applied for a completely new trader; do your research, practice on demo, pick a strategy and start small.

tbterryboy

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Quote from: Toracee on August 05, 2020, 10:59:35 AM

Since January this year, I have been trading forex as a second passive income earning. After making some money in crypto I venture into trading forex, but I got my finger burnt. I wasted a lot of money without making a single profit. I regretted this venture. I have come into conclusion that investing in the genuine crypto project is far better than trading forex. The risk in trading forex is higher than investing in a genuine crypto project.

You are doing two things that are similar to each other and you’re getting your mind messed up. Instead of doing the both of them, it is best that you focus on just one of them. Because, jack of all trades, cannot succeed in either one. When you are dedicated at one thing then the chances for becoming successful is more.

If it’s cryptocurrency that you choose, then just go for it and study it properly. If you try to follow up with the both markets you wouldn’t be able to do that. And from what I have understood, you’re investing in cryptocurrency and not really trading it. Maybe you can look for other good jobs you can be doing while you are investing in cryptocurrency.

Many people have already switched into crypto trading from forex trading after finding crypto markets are more profitable for them. I mean crypto got many short cut to crack easy profits unlike forex market's cruelty of wild fluctuation. One of known and familiar short cut in crypto markets is "long term holding"

.

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I think crypto trading is best than forex trading the worth of the currencies here is extremely good and therefore the marketing research is extremely easy newcomers are ready to trade very easily. But later within the case of forex got to gain tons of data it's very difficult to understand the precise forecast of investment crypto features a lot of currencies that are better than forex and increase our profitability by trading in crypto the fee at each exchange site is far lower currencies are very fashionable for investment.

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Quote from: Toracee on August 05, 2020, 10:59:35 AM

After making some money in crypto I venture into trading forex, but I got my finger burnt. I wasted a lot of money without making a single profit. I regretted this venture.

One of the reasons why some investors get burnt is that they lack the patience to focus on one sector and do jumping around to other sectors hoping to make profit everywhere. It is fine as long as you know what you are doing and have experience in that. For your case I take it that you were less experienced in forex.

Quote

I have come into conclusion that investing in the genuine crypto project is far better than trading forex. The risk in trading forex is higher than investing in a genuine crypto project.

Biased statements based on personal opinion.
The same statement would be the reverse for a well versed forex trader who tried their hand in crypto. Understood my point?

Fact that both types of trades exist means that both markets are profitable but is not for everyone.

The false notation of "Mine is good, yours is bad" is a exaggeration of biased opinions based on short term outcomes and should not be used to draw conclusions.

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Quote from: Charles-Tim on August 05, 2020, 03:49:50 PM

It is better to focus on one than to be diversed on what are risky, to even learn crypto trading is not easy at all, because of this, it is good to just focus on one. Some people will leave crypto for forex but lose. I prefer to only know about crypto trading, I have been learning for months and I know there are more opportunities in crypto trading than forex trading.

A good example is the swing trading which is not realistic in forex unlike crypto, another example is to trade profitable cryptocurrencies like bitcoin or ethereum, getting the time of investment rightly will make the price increase, and you will gain. But all trading are risky.

Aside crypto investing, even trading crypto is better than forex to me imo, but let us hear other out.

You are right, is good to master one and stay with it. Consistency matter a lot in anything you do. I prefer crypto for now.

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