Is Forex Trading Knowledge Useful to Crypto Traders?

Golden9

Notable

Member

Sep 6, 2022

1,786

142

Dex

$0.000

Raw Dex

$0.410

• Jun 22, 2023

• #1

There are a lot of similarities between trading forex and cryptocurrency as well as differences.

While some people do say that trading one makes trading the other easier, some people who try it will quit and focus on the one they started with.

The trading styles differ somewhat, but having knowledge of how to trade forex will definitely give one an edge when trading cryptocurrency

 

cherry123

Popular

Member

Sep 5, 2022

25,542

2,558

Dex

$2.470

Raw Dex

$0.000

• Jun 23, 2023

• #2

No knowledge is ever a waste you can acquire knowledge for a thing and use it for another so yes trading styles differ for this two , but having knowledge of forex will give an edge with cryptocurrency

 

Blessed19

Notable

Member

Mar 1, 2023

1,728

101

Dex

$0.000

Raw Dex

$0.000

• Jun 23, 2023

• #3

Well to an extent forex trading and Bitcoin kind of work hand in hand as the experience you have in forex could be handy for you in crypto trading as it all has to do with making the right call and being patient in the market.

 

cherry123

Popular

Member

Sep 5, 2022

25,542

2,558

Dex

$2.470

Raw Dex

$0.000

• Jun 23, 2023

• #4

That's the truth, the two kind of work hand in hand . So one can easily use the training and experience of the other for the other as well. so it is all good

 

Suba

Notable

Member

Nov 11, 2022

3,880

470

Dex

$0.000

Raw Dex

$1.585

• Jun 23, 2023

• #5

Of course, if you have experience and qualified forex trading skills, of course it will be very influential and useful in crypto trading, especially the use of technical analysis, emotional control and greed. Currently there are many forex traders who are also crypto traders.

 

cherry123

Popular

Member

Sep 5, 2022

25,542

2,558

Dex

$2.470

Raw Dex

$0.000

• Jun 23, 2023

• #6

My thought exactly, with knowledge and experience of forex trading skills, you can use it in crypto trading as well. You can do better in either of them as you go with them

 

Semi

Unfamiliar

Member

Jun 19, 2023

227

11

Dex

$0.000

Raw Dex

$0.000

• Jun 27, 2023

• #7

They are almost the same as they share characteristics. The technical analysis are almost the same. You apply risk management in both. The knowledge of forex trading can be useful for a crypto trader and vice versa.

 

Blessed19

Notable

Member

Mar 1, 2023

1,728

101

Dex

$0.000

Raw Dex

$0.000

• Jun 27, 2023

• #8

Semi said:

They are almost the same as they share characteristics. The technical analysis are almost the same. You apply risk management in both. The knowledge of forex trading can be useful for a crypto trader and vice versa.

Click to expand...

They're mostly the same but have a little bit differences because one is strictly on foreign exchange while the other is on crypto though the trading is similar because you are only making calls for different currencies if they are going up or they are coming down.

 

cherry123

Popular

Member

Sep 5, 2022

25,542

2,558

Dex

$2.470

Raw Dex

$0.000

• Jun 27, 2023

• #9

I'm sure those engaging in both of them will agree they are almost the same as they share some features. You use technical analysis and apply risk management in both.

 

Blessed19

Notable

Member

Mar 1, 2023

1,728

101

Dex

$0.000

Raw Dex

$0.000

• Jun 27, 2023

• #10

cherry123 said:

My thought exactly, with knowledge and experience of forex trading skills, you can use it in crypto trading as well. You can do better in either of them as you go with them

Click to expand...

Exactly I have a friend who does trading cryptocurrency and forex exchange and he is making good profits and benefits for himself building an empire for himself also no I am more interested in crypto trading than forex.

 

eldavis

Very Familiar

Member

Sep 4, 2022

12,585

604

Dex

$0.000

Raw Dex

$12.678

• Jul 1, 2023

• #11

It might be of help in some aspect, or there are certain methods of trading in forex you could also make use of in crypto trading, there would definitely be difference but every knowledge counts.

 

B

Bisolami

Very Familiar

Member

Sep 19, 2022

17,833

1,529

Dex

$0.000

Raw Dex

$0.078

• Jul 9, 2023

• #12

Golden9 said:

There are a lot of similarities between trading forex and cryptocurrency as well as differences.

While some people do say that trading one makes trading the other easier, some people who try it will quit and focus on the one they started with.

The trading styles differ somewhat, but having knowledge of how to trade forex will definitely give one an edge when trading cryptocurrency

Click to expand...

I think anyone who can trade forex trade cryptocurrency very well because they work hand in hand even though they are not the same and again there is no knowledge that is wasted

 

S

Smalto

Notable

Member

Feb 23, 2023

1,238

75

Dex

$0.000

Raw Dex

$0.373

• Jul 12, 2023

• #13

Golden9 said:

There are a lot of similarities between trading forex and cryptocurrency as well as differences.

While some people do say that trading one makes trading the other easier, some people who try it will quit and focus on the one they started with.

The trading styles differ somewhat, but having knowledge of how to trade forex will definitely give one an edge when trading cryptocurrency

Click to expand...

Well this could be very true to an extent, but not entirely true, but I believe there are similarities between the both financial market, so having a knowledge concerning one can be very helpful in navigating through the other one .

 

Golden9

Notable

Member

Sep 6, 2022

1,786

142

Dex

$0.000

Raw Dex

$0.410

• Jul 12, 2023

• Thread starter
• #14

Since both markets are traded using both technical analysis and fundamental analysis, you can easily learn about the small differences in a short period of time. Some people get so used to one though, they find the other tedious.