Bitcoin traders, why don't you just trade forex?

[capoeira]

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?

You are aware that Forex is a Zero Sum Game = 98% forex traders lose?

No, I didn't think so.

So is Bitcoin... in fact, anything where someone's loss is someone else's gain is a zero sum game

doesn't mean you can't pull in huge returns from Forex if you know what you're doing. What I will say though is, in Forex, the odds are stacked against you - what with all the institutional players and professional day traders who have been scalping that market for decades..

It's much easier to pull massive home runs from crypto

i agree, especialy with the first sentence, and would add to the rest: they biggest sharks are still not in the Bitcoinlake, which makes it easier for smaller ones and those who want to be one, including Mr. Zer0Sum

And the bitcoinlake is growing. Soon it will be filled with sharks and all the small fish get eaten up.

well how many people bought on top of the bubbles? there are always fishes beeing eaten.
But the biggest sharks will come after this market has some rules

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[cryptofan5]

I think it comes down to an individual mind set. For some people its easier to grasp the idea of trading in bitcoin rather then in fiat currencies. Every generation there seem to be new instruments appear: CFD, binary options, crypto-currencies. Maybe because it is easier for people in the current generation to understand them.

[daybyter]

One of my problems is the FIX API. I think it's a lot more complicated than most REST APIs.

[griffga]

Has anyone here with a mind towards forex used btc.sx or anything similar that gets more than 2.5:1 leverage? I know that Bitfinex offers 2.5:1, but I was looking for something that offered a little more.

[capoeira]

but I was looking for something that offered a little more.

3:1
https://www.fxopen.com/News.aspx?Id=8d12a6d7-c216-431c-8a06-93aa689a1bc8&agent=836159

[0nThe0therHand]

Hi,
You could try AvaTrade they have leverage 1:20 for Bitcoin and Litecoin:
http://www.avatrade.com/
This broker is regulated by CySEC, Cyprus Securities and Exchange Commission and you can get Welcome Bonus up to $10,000

[helir]

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.

A little fish in a plenty of sharks ocean

[capoeira]

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.

A little fish in a plenty of sharks ocean

like in Bitcoin

[InvestexMarkets]

I started in the markets world 2 year ago. I did rather well then moved into the world of bitcoin tradeing.
I would not recomend just jumping into any broker online. you need to know the system works if you don't know what a candelstick chart is or the bollinger bandsthen stay away.. You risk losing more than you invest in some brokers.. so your capital is at risk.. So be careful!

 (MA + Kσ)

[capoeira]

the problem for many Botcoiners who started trading on Bitcoin and go Forex is that they never learned position sizing/risk management. They are essencial for Forex trading because you can take way oversized positions because of leverage

[pooya87]

the problem for many Botcoiners who started trading on Bitcoin and go Forex is that they never learned position sizing/risk management. They are essencial for Forex trading because you can take way oversized positions because of leverage

yeah, i had no idea what trading is, and always found Forex,stocks market,... something strange which i couldn't figure out (i am still working on it though) but when i started using bitcoin i came to learn trading too. although i still think trading bitcoin, and altcoins are so much easier that trading forex, and with better profit too.

[DoublerHunter]

I don't know how to start trading in forex so i just use to trade bitcoins now because for me it's so simple and easy to understand even though that you are a newbie  .

[Dudeperfect]

I am trading in bitcoin as well as in stocks since last few months and I have never tried forex. I have been trading in stocks from long time as compared to bitcoin or crypto currencies but frankly speaking, I have never tried forex so far not because I find it bit complicated but I feel more safe in crypto currencies (which is not the actual fact), crypto currency trade is much comfortable for me than any other kinds of trade but still I would try forex soon.

[memequiserle]

is simple because bitcoin not margin call
hold is long term is no problem and no margin call

[electronicash]

is simple because bitcoin not margin call
hold is long term is no problem and no margin call

Damn right. even after 10000 pips is against the position a trader has entered can not be sanctioned to lose all his btc thru the margin call.
But thats also the sad part, you will have to wait forever for the price to rise up or else take your loss.  But then a day trader would rather do it on binary than wait for the price to rise again.

[Brownye]

Because i started my trading on yobit and i don't want to change

[wildworld]

Yes I am an experienced forex trader , I trade daily on the major stock market forex and this for 15 years successfully . I give to all my clients guarantee of capital and do not have a single customer disappointed .all they have built up a nice portfolio .
I do not believe in binary options !
.
Bitcoin will be much stronger in the future and indispensable!

[outatime1]

Aren't the fees high for that kind of trading? Trading bitcoin/altcoins you only pay a small percentage every trade. It's not a flat fee. For the exchange I'm using now it's something like 0.15% per trade which is pretty low.

[wildworld]

Aren't the fees high for that kind of trading? Trading bitcoin/altcoins you only pay a small percentage every trade. It's not a flat fee. For the exchange I'm using now it's something like 0.15% per trade which is pretty low.

In online forex trading Will Only Cost calculated per open position Online forex trading costs much less than online stock trading . You pay no commission and no administration costs. In online forex trading costs are calculated only every open position. These costs are also the same for small and large investors and very low. Online forex trading costs money, but only a fraction of the cost that you pay for trading in options or shares.

[capoeira]

a Forex position (open AND close) on a broker with a good spread will cost you around 0.01% fee (or/and spread)