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

[Pipdips]

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?

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[xvids]

I am also curious about it what is most profitable of all trading in crypto,FOREX or stocks?
I want to try stock market but I don't know where to start I have been trading in crypto and made some decent profit from my past trades .
I know it would take so much time to study all of it but I think it would really be worth it to try other things and to know which one would suits me best.

[Reid]

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.

[Pursuer]

it is easier if you come from another market to cryptocurrency market as you have the trading experience and then only familiarize yourself with the cryptocurrency market and its manipulations. but if you do it in the other direction as you say, and you had no prior knowledge before starting to trade cryptocurrencies, going to any other market will be very hard because you won't have any real experience that could be used in those market.

is FOREX harder? any market will be hard to make profit from and it will be super hard in the beginning when you first enter it. basically in my experience you have to learn about that particular market first in order to be able to make any profit.

[anu1908]

some guy told me that the major difference between crypto and other market is the speed or the cycle of movement between bear and bull market. that's too simplistic but not entirely false. forex and other markets, most of the time 'move slowly' compared to crypto, so you should not expect to gain 100% in a week, and at the same time not losing 100% in a week.

maybe the reason for that is because there's a huge volume in forex compared to crypto, but i'm not sure.

[Pipdips]

I am thinking that with FOREX you need a big account balance (of about $10,000) to scrape together profits, but at Binance you can get started with $100 or less. Is $10,000 realistic?

What is the difference between trading fees if you compare FOREX with Binance?

FOREX gives users a chance to play a demo account that starts with a balance of $50,000. How is it different once you trade FOREX with real money?

[Harlot]

If you are moving outside of the crypto market remember that it's not as much volatile as gains would depend depending on its fundamental analysis. Whether it is from Forex or the stock market most of the assets you will see in there all depend on the economy or its FA so if you don't have any background on identifying its fair value then you are at a disadvantage in those markets, you might not even gain anything and lose everything in the process. The good thing is books about these markets are already good to read and understand all you need to do is to do your part and read them.

[MakeMoneyBtc]

This idea that you can make money easy by trading forex is circulating all over the internet and it's obviously wrong. Many people think it's easy and all you have to do is watch a few videos,read a few books and articles and you can already start forex trading and make profits. If it was that easy everyone would quit their jobs and start working on Forex. It takes a few years at least until you get to become experienced in this domain and start making constantly profit and even so you need a mentor at the beginning that could teach you the basics and tricks about it otherwise you would have to spend a lot of time trying to learn that by yourself and you will also have to lose a lot more money learning then you would have pay that mentor to teach you. I don't know if this is the answer you eere looking for,I just wanted to tell you that Forex is a serious domain and only a very few can succeed on this market.

[Pipdips]

This idea that you can make money easy by trading forex is circulating all over the internet and it's obviously wrong. Many people think it's easy and all you have to do is watch a few videos,read a few books and articles and you can already start forex trading and make profits. If it was that easy everyone would quit their jobs and start working on Forex. It takes a few years at least until you get to become experienced in this domain and start making constantly profit and even so you need a mentor at the beginning that could teach you the basics and tricks about it otherwise you would have to spend a lot of time trying to learn that by yourself and you will also have to lose a lot more money learning then you would have pay that mentor to teach you. I don't know if this is the answer you eere looking for,I just wanted to tell you that Forex is a serious domain and only a very few can succeed on this market.

I like the realness of your comments. Thank you!

[harizen]

Is FOREX harder to profit from?

It's like asking, "Is crypto trading hard to understand?" .

The idea is just the same. It's just that it has a different approach.

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

It depends on your ability to handled multiple things at the same time.

Is FOREX safer from hacks?

No. *

How long should you practice at FOREX before putting money on the line?

Like in crypto trading, once you somehow gained basic knowledge to start, then you can take the risks and deal in actual.

Experience will teach you how to become even better as you progress.

Is learning FOREX a good backup plan in case the crypto-currency market becomes unstable?

Not a backup plan but it's good to have a piece of knowledge in "everything" in the online world.

[Indrawan77]

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

[NeuroticFish]

This idea that you can make money easy by trading forex is circulating all over the internet and it's obviously wrong. Many people think it's easy and all you have to do is watch a few videos,read a few books and articles and you can already start forex trading and make profits.

I like the realness of your comments. Thank you!

Unlike crypto, where the variation range is big and even if you get in a bit late you may be able to still get profit, on Forex the ranges are smaller and you may need to be more precise.
And unlike crypto, there are real news and actions that can affect greatly the market.
I don't trade, but I follow closely some of the markets and I find extremely interesting the way the market reacted to certain news and (government) actions, in many cases in unexpected (for me) ways or magnitude.

[Genemind]

This idea that you can make money easy by trading forex is circulating all over the internet and it's obviously wrong. Many people think it's easy and all you have to do is watch a few videos,read a few books and articles and you can already start forex trading and make profits. If it was that easy everyone would quit their jobs and start working on Forex. It takes a few years at least until you get to become experienced in this domain and start making constantly profit and even so you need a mentor at the beginning that could teach you the basics and tricks about it otherwise you would have to spend a lot of time trying to learn that by yourself and you will also have to lose a lot more money learning then you would have pay that mentor to teach you. I don't know if this is the answer you eere looking for,I just wanted to tell you that Forex is a serious domain and only a very few can succeed on this market.

I agree with you. Forex trading isn't the same as crypto trading where you could learn easily through reading and watching knowledgeable videos. You have to search for the answers on your own. You have to pay for you to adopt the information that you would want to learn and it's not as profitable as we think.

[leowonderful]

The underlying basics of trading Forex are somewhat similar to how you'd be trading cryptocurrencies, though things obviously do differ in some ways. You're not learning completely from scratch by going from trading crypto to forex, but you'll need to adapt and get comfortable with those aforementioned differences to have success in forex trading. You might have to tweak the way you trade a little bit, but if you're flexible it's not too bad to switch over.

[sgenuine]

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?

My old school friend is in Forex, and he is thinking about cryptocurrencies as he is not satisfied with the results. I guess, both kids of a business need much knowledge - the real key of the success.

[Ailmand]

There are actually lots of Forex traders who are switching to cryptocurrency trading. They find it easier and more profitable than Forex. If you're planning to switch to Forex trading, you better study everything about it ahead of time because it will take a long time for you to adopt the basics of it.

[Polyxchange]

I am thinking that with FOREX you need a big account balance (of about $10,000) to scrape together profits, but at Binance you can get started with $100 or less. Is $10,000 realistic?

What is the difference between trading fees if you compare FOREX with Binance?

FOREX gives users a chance to play a demo account that starts with a balance of $50,000. How is it different once you trade FOREX with real money?

Most Forex brokers allow you to start trading with $100 too. And they are always ready to give you leverage and margin.

Almost all demo accounts are very different from real trading. Of course, brokers often show profitable results only in demo trading. But this is just a clever way to attract you into trading for real money.

[stomachgrowls]

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?

Its odd yet Forex/Stocks market is already ahead with Crypto Market and most traders do all knows that but well answering your question;

-Transition wont be hard since you do already have the idea on how market works
you would only notice the legality aspects and the main ones is the volatility.

-Any market does give out no simply way on making money

-Depends on your preference.Trading up crypto or just fiat currency money

-When it comes to hacks,i would say yes, they are more far safer yet brokers are heavily regulated.So any shady things
like manipulation or questionable market price movements will really be sued out.

-Learning Forex wont be that easy because profitability would always matter with your skills but mostly
when it comes to forex it do matter with news/fundamentals.

-Forex is been here before crypto market exist.

The Forex market is the largest financial market in the world with volumes of over $4 trillion dollars being traded on a daily basis.


Imagine on how big it is.

[Ucy]

I think it is best to just focus on one market and that market in my opinion is cryptocurrency . Forex trading is not a friend of regular people. It's profit is relatively small and it is a bit more technical than cryptocurrency trading

[b3llsf1l3s]

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?

So, I have never been in the Forex world before but some of these things might be a reference for you.

- Trading in forex is not difficult, not if you use a demo account, but it can change when using a real account.
- In forex, on average they prefer one market only. One time trading and one market only.
- About hacking I was not aware of this, it seemed safe but the possibility of scam was greater
- Yup, everything in forex can be a good reference for later