Similar but not same 🤔

[avp2306]

Am new here,but all have seen is about crypto and recently I got interest in it but am a bit confuse wether one can use same strategy,and approach used in trading forex
And how can one become an affiliate in altcoins for exchanges,and also hold some Bitcoin for long runs maybe 2 yrs
What really differentiate forex and crypto in terms of it approach,is the volatility same.
I don't wanna miss the treasures in crypto Market and the more I try to dig, it gets more confusing
I need a strong, oriented and right take on this guys....

There's difference regarding on that but at least you already have an idea on how to trade. The next thing you can do is to search further more information that can help you on your crypto trading career there's a lot of information posted here and I'm sure it will not take long for you to became a good crypto trader especially if you already a good forex trader.

But expect fast phase on crypto since market is so volatile compare on forex where there's slight slow phase on the market.  Also don't get confused and try to slow down, learn to focus on interesting information and try to understand it before proceeding to other one so result will be best for you.

[1714716863]

1714716863

[Stepstowealth]

Am new here,but all have seen is about crypto and recently I got interest in it but am a bit confuse wether one can use same strategy,and approach used in trading forex

They are similar but not the same just as you have said, but a Forex Trader will find it easier into becoming a crypto trader then someone who does not have any idea of trading in general. I think the difference between the two will not be so much and for a forex trader to become a crypto trader, they may just need to learn some new terminologies and become used to some strategies and minor differences between the two.
If a forex trader does not try to learn the difference between the two and then just decides to try crypto trading, they will fail.

[el kaka22]

Talking about forex and crypto being different, forex is a currency backed by governments and dealing with SUPER high margins, whereas crypto itself is not a high margin thing, it's a currency that is free, it's a payment AND and an asset, also if you want to use high margin you can but you could also invest into it long term.

If you buy Dollars as investment as a European, there is a possibility that maybe you will make a few dollars, but not much, so you do high margin, but if you invest into bitcoin as a European, you could make a ton of profit. That is the difference, and the difference will always be there, it's quite important to know why they are so different from each other and why people make it look like that.

[Maus0728]

I don't know much about Forex trading but if you're going to use the same strategy with cryptocurrency, I suggest that you don't do that because there's a big difference with cryptocurrency trading and forex trading, I think that forex is more stable than crypto and the candlesticks are going to be a little different in forex.

So if you're ever planning to use the strategies you employ or have learned in cryptocurrency trading, make sure that you're not going to be treating forex as cryptocurrency, there might be some general similarities that you might see in the strategies but you still need to keep in mind that they're a different market.

Also, it can be a good idea if you find a trading group that's specifically dealing with forex trading rather than asking things here, a bitcoin forum, they've got more knowledgeable people there but be careful which group you're joining as like any platform out there, scammers are on the loose.

[Xampeuu]

Strategically I use the same approach, there is support and resistance, and that is a defense, when the defense is broken, there will be continued movement. However, the same strategy is difficult to carry out on altcoins or meme coins because they are full of manipulation. the thing that differentiates it is the characteristics of the movement, where the crypto world is known for its high movements, and of course there are no news hours like forex, which are certain market opening hours in certain locations or there is news at certain hours which makes wilder movements.

[Dr.Osh]

Am new here,but all have seen is about crypto and recently I got interest in it but am a bit confuse wether one can use same strategy,and approach used in trading forex

Strategies might slightly differ, but the principle is the same.

Crypto market movements are highly volatile, so you will need to adjust a lot of things such as risk management strategies and take profits

And how can one become an affiliate in altcoins for exchanges,and also hold some Bitcoin for long runs maybe 2 yrs

Affiliate or referral links are available in your account once you sign up on a crypto exchange,

What really differentiate forex and crypto in terms of it approach,is the volatility same.

Crypto markets are highly volatile. Please start with little money you can afford to lose as you get to learn about crypto markets.

Starting with small capital will be better to know the difference between forex and crypto. This is the quickest way to see the difference. Apart from that, in crypto, there are many choices of coins, I recommend choosing Bitcoin or popular altcoins because quite a lot of altcoins require in-depth research and analysis before buying them. Even though they look the same, you will see the differences when you start to enter the crypto market.

[wxa7115]

Am new here,but all have seen is about crypto and recently I got interest in it but am a bit confuse wether one can use same strategy,and approach used in trading forex
And how can one become an affiliate in altcoins for exchanges,and also hold some Bitcoin for long runs maybe 2 yrs
What really differentiate forex and crypto in terms of it approach,is the volatility same.
I don't wanna miss the treasures in crypto Market and the more I try to dig, it gets more confusing
I need a strong, oriented and right take on this guys....

The same principles that work on the forex market work on this one, it is just that you will need to make some adjustments here and there in order to make it work, for example think about a tailor trying to make a shirt and a pair of pants, while the end result may look completely different, the techniques used to create those two pieces of clothing are the same.

Then even if there could be some differences, at the end both markets can be traded using the same techniques, so if you already know how to trade stocks or other markets, you should do well soon enough when trading bitcoin or other coins.

[GreatArkansas]

(...)

The same principles that work on the forex market work on this one, it is just that you will need to make some adjustments here and there in order to make it work, for example think about a tailor trying to make a shirt and a pair of pants, while the end result may look completely different, the techniques used to create those two pieces of clothing are the same.

Then even if there could be some differences, at the end both markets can be traded using the same techniques, so if you already know how to trade stocks or other markets, you should do well soon enough when trading bitcoin or other coins.

The OP must not forget the volatility. We all know volatility in cryptocurrency is very high, for sure you will be surprised.
So for me, other things like fundamental and technical analysis could be the same. The patterns, the charts, are almost the same also.

[cryptoaddictchie]

What really differentiate forex and crypto in terms of it approach,is the volatility same.
I don't wanna miss the treasures in crypto Market and the more I try to dig, it gets more confusing
I need a strong, oriented and right take on this guys....

Well you have plenty of options on crypto but forex is also good but since Im in this space for a long time Im gonna stick with it. Plus Im doing a lot of free tokens from airdrop which doesnt have on forex. The platform is pure trading purposes only where in crypto theres other way on how to earn and adopt on your capability.

[Tigerheart3026]

i have no experience in forex trading, but i heard about it from my friends who's involved with forex trading in the long term,
crypto and forex trading definitely both of different,
you can't trade 24/7 in forex trading may be 1-2 days off day but crypto trading is always open,
i think crypto is highly volatile from forex trading, in crypto trading you can trade with lots of currencies but in forex you have to trade with limited currencies.

[retreat]

Am new here,but all have seen is about crypto and recently I got interest in it but am a bit confuse wether one can use same strategy,and approach used in trading forex
-snip-

I don't think that your approach to the forex market can be applied to the crypto market, because both markets have their own differences and characteristics, so when you choose to trade on the crypto market you need to adapt yourself to the conditions of the crypto market. Maybe you can bring the Moving Average strategy from forex trading to crypto, but once again you need to analyze the crypto pair you are trading because maybe it will be different.

[God bless u]

It's very different here in crypto the market is more volatile and sensitive. Investing in crypto needs more patience,risk management and continuous research of the market.You can't just invest and get hand in hand, you have to be completely in.

You should check out some articles on the web to completely understand how Forex is different from crypto and what things you have to take into account there is plenty of stuff available on the web.