What was it like switching from crypto-currency exchanges to FOREX?

[RealMalatesta]

My experience with trading is limited to the crypto-currency exchanges. I have not used FOREX yet but it interests me to learn?

Questions:
How was the transition?
Is FOREX harder to profit from?
Is it best to focus on one market and not two?
Is FOREX safer from hacks?
How long should you practice at FOREX before putting money on the line?
Is learning FOREX a good backup plan in case the crypto-currency market becomes unstable?

I feel you are twisting the question and it should be what it was like switching from FOREX to CRPTO trading because FOREX has been in existence for a very long time before crypto was invented, and this has been what majority of traders has been into for years before getting an hint of crypto and then switching over it from FOREX.

Anyway, if you care to know about or experience in FOREX, I will say it was also a tensed one, just that Forex market is not as volatile as crypto, there are something that you try in Forex that you can try in crypto because of its volatility and if you try it, you will either be dead completely or be made for life on a single transaction in cryptocurrency.

[guoyu78]

You will actually be better if you started with Forex. It is like an easy to understand game when you come to crypto trading.

Before I used JPY and EUR against USD mostly for they are the easiest out there.
Here in crypto it is like the same when you use BTC against USDT. But pairing it with an altcoin like ETH will be difficult since you are used to forex.

Altcoins move way differently and so is bitcoin. The jumps could sometimes be high and it will stay at that position or vice versa. Whenever that happens, you will be lucky if your funds are still intact.

I think forex is not that easy to make profit, the easiest one is the stock market, in stock market there are moments that the chances of going up is really high, forex is a high speed transaction almost the same with crypto, the difference is the forex price won't fall to deep, and it constantly moving up and down, and all trading consist the same risk

It is easier to make profit from Forex because it doesn’t have as much volatility as cryptocurrency has, the only advantage crypto has is that, one increase of crypto could be 10 increase of Forex and vice versa also if the market falls, but the thing about crypto is that you can decide not to trade with margin and even if the price falls it will rise back no matter how long it take and you will still be able to get your investment back, but for Forex, you have to trade with margin and once your money goes to zero, your trading will close for life, while crypto can never zero and no matter how low it is, once you leave it,  it will crawl back to the spot you bought it.

[CryptopreneurBrainboss]

OP you shoud understand, trading crypto and forex are alike but forex is more advance, stable and profitable than cryptocurrency. Although the skills required to be successful at forex trading is complex when compairing it to cryptocurrency trading. Crypto has more advantage over forex as an average newbie can succeed at crypto trading with little or no knowledge more than forex trading. Crypto trading also offer you the options of holding your coins when your prediction goes wrong but such option aren't in forex.

Now to your questions;

Is FOREX harder to profit from?

Yes forex is more harder (as a beginner) to profit from but once you acquire the required skills it becomes more profitable.

Is it best to focus on one market and not two?

This is a personal decision as what works for me might not work for you. But i would recommend you try both earning option then specialize on one and use the other as alternative when trading on the other isn't yeilding gains.

Is FOREX safer from hacks?

Crypto market don't get hack neither do forex market although the service providers for each market can get hacked as all internet centralize related business are liable to hack so if you're speakng of the brooker getting hacked, it's possible but since most brookers are regulated the chances of you getting back your funds are higher than when crypto exchanges get hacks as they aren't regulated.

[FanEagle]

I lived just the opposite of this. In my country forex is quite famous and there are people who live in front of the exchanges who buy and sell every single day multiple times trying to profit as much as possible from the spread so forex was like a national sport for us before it even existed and then forex happened and all of those people went back to their homes opened an account and started doing it at home.

I was one of those people and I did made a decent return time to time but mostly I was breaking even because the money I was profiting big was usually cover all the small loses I did everyday. When I switched to crypto that experience helped me a lot because I was quick and I sensed bad things coming from a mile away and was lucky to get out at the right time, I am not a smart guy who profits a lot but I am smart enough to not lose a lot.

[Barbut]

I lived just the opposite of this. In my country forex is quite famous and there are people who live in front of the exchanges who buy and sell every single day multiple times trying to profit as much as possible from the spread so forex was like a national sport for us before it even existed and then forex happened and all of those people went back to their homes opened an account and started doing it at home.

I was one of those people and I did made a decent return time to time but mostly I was breaking even because the money I was profiting big was usually cover all the small loses I did everyday. When I switched to crypto that experience helped me a lot because I was quick and I sensed bad things coming from a mile away and was lucky to get out at the right time, I am not a smart guy who profits a lot but I am smart enough to not lose a lot.

Matter of fact is that I know many people who quit forex for crypto trading, thats why this thread is more like trolling than something that holds some valuable info. He is newbie that just asking for some attention, even there is some forex traders here I think majority is crypto trading oriented, not just cause its better, its more profitable and in my opinion much safer.

[davinchi]

I lived just the opposite of this. In my country forex is quite famous and there are people who live in front of the exchanges who buy and sell every single day multiple times trying to profit as much as possible from the spread so forex was like a national sport for us before it even existed and then forex happened and all of those people went back to their homes opened an account and started doing it at home.

I was one of those people and I did made a decent return time to time but mostly I was breaking even because the money I was profiting big was usually cover all the small loses I did everyday. When I switched to crypto that experience helped me a lot because I was quick and I sensed bad things coming from a mile away and was lucky to get out at the right time, I am not a smart guy who profits a lot but I am smart enough to not lose a lot.

That sounds touching, and I have learnt one thing from these sentences, I have learnt that we should learn to be smart not to lose and also be smart when taking profit, which is more like you advising us not to be greedy, which I see as lots of issue with most investors and traders.

It is not that they also do not sense the danger when they see one, but because they probably like to dare or take risk, and because they are greedy, they don’t exit a trade when they are supposed to.

These few period that bitcoin has gone high and low severally, there are people that has had opportunity when they see a little increase, I mean traders here, but they don’t take, knowing fully well that there is always a correction, but out of emotion, they keep pushing it, hoping they will get a value hire than what they had seen, but in the end, they end up missing that chance when market suddenly turn dip.