Is Forex Trading Knowledge Useful to Crypto Traders?

Golden9 · Jun 22, 2023

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 · Jun 23, 2023

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 · Jun 23, 2023

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 · Jun 23, 2023

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 · Jun 23, 2023

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 · Jun 23, 2023

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 · Jun 27, 2023

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 · Jun 27, 2023

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.

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 · Jun 27, 2023

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 · Jun 27, 2023

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

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 · Jul 1, 2023

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.

Bisolami · Jul 9, 2023

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

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

Smalto · Jul 12, 2023

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

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 · Jul 12, 2023

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.

Is Forex Trading Knowledge Useful to Crypto Traders?

Golden9

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cherry123

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Blessed19

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cherry123

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Suba

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cherry123

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Semi

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Blessed19

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cherry123

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Blessed19

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eldavis

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Bisolami

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Smalto

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Golden9

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