Trading forex or cryptos, what is the similarity?

[Alston Liu]

Is there anyone who trades forex as well as cryptocurrency? What are the major differences in terms of trading strategies? Are there any similarities?

I think forex traders might trade multiple times a day if they trade in a lower time frame. And the leverage could be crazy. But still, some meme coins can also have unbelievable gains within a short time. Both of them are very risky. which one do you think people can have more control over in terms of risk management?

[Rruchi man]

Is there anyone who trades forex as well as cryptocurrency?

You can see traders who have traded forex and then are deciding to trade cryptocurrency, or traders who have traded crypto currency and then are deciding to trade forex, but it is rare to see a trader who is actively trading both the crypto and foreign exchange markets. I do not know how they will be able to combine them together, but as a trader, you really need to choose one side, a preference, if not at first, maybe after learning or trying them both.

[Chilwell]

Trading forex or cryptos share a lot of similarities, they both involved the act of buying and selling of financial assets, both of the markets are independently on government, They are not control by government policies(decentralized), the price of the goods are unpredictable, it can rise higher and drop anytime. an individual can trade both forex and cryptos simultaneously but it understanding of both markets.

[Asiska02]

Is there anyone who trades forex as well as cryptocurrency? What are the major differences in terms of trading strategies? Are there any similarities?

I think forex traders might trade multiple times a day if they trade in a lower time frame. And the leverage could be crazy. But still, some meme coins can also have unbelievable gains within a short time. Both of them are very risky. which one do you think people can have more control over in terms of risk management?

When it comes to risk management of them, I think crypto trading will allow users to have a proper risky management checked on them than forex trading. One of the major difference I see between this two and that makes me chose crypto trading to be less risky than forex trading is the number of positions allowed to be opened in each of them. Let’s say, in a crypto trading, you’re not allowed to increase your leverage or decrease once the market is on, until you close the trade and adjust your leverage to what you want it to be and enter the trade back.

While in forex trading, once a market starts moving, you can decide to add more positions or reduce it more (not so many people know about that) as the market is still ongoing. By doing so, it’ll expose you to higher risk and can cause you to lose more than the expected money as of the time you entered the trade initially. Risk management is very important in trading, and if you don’t get a good one, it’ll only make your trading journey harder.

[Mia Chloe]

I think one similarity between both of them is that they are moved by fundamental factors like news big buys or sell government regulations and restrictions or rules etc and Also technical stuff like simple buy and sell principles. Another keen similarity is that they both have variable volatility based on market conditions and tension as well as liquidity too.

How ever sometimes depending on the session and fundamental factors at that point in time, crypto can be relatively more volatile at times especially if you trade meme coins.

[albon]

Forex is an investment earning way in which the first condition of earning is that you have to invest. Then you have to trade even though the result may be profit or loss. That means you can't just sit back and invest, you must trade to see the profit. But you will get investment benefits in cryptocurrency market. If you don't want to trade, here is the profit or loss. That is, you can invest and hold in the cryptocurrency market which you cannot get in the forex market. Cryptocurrency is a platform where anyone can invest and profit which is not possible in the forex market. And only those who are skilled traders can profit in the forex market. 

[Flavour]

Is there anyone who trades forex as well as cryptocurrency? What are the major differences in terms of trading strategies? Are there any similarities?

I think forex traders might trade multiple times a day if they trade in a lower time frame. And the leverage could be crazy. But still, some meme coins can also have unbelievable gains within a short time. Both of them are very risky. which one do you think people can have more control over in terms of risk management?

Yes, I have delved into both forex and cryptocurrency and I will say there is no much difference except when we are talking about the memecoins and different airdrops but I apply the same analysis method for both. Well in terms of risk management also say both because there is a stop-loss being applied. So yeah, difference isn't too much

[_act_]

Is there anyone who trades forex as well as cryptocurrency? What are the major differences in terms of trading strategies? Are there any similarities?

They both have many similarities together, we can learn to trade forex and also do crypto together, because they both deals with market pairs or currency pairs, you make use of the chart to know how they have been performing to the extent of having the understanding of which to pick as a pair with prospect, we can choose to use any strategy for our trade, when we understand the kinds of trades we have and which we want, the only difference in them is that one is crypto and the other is fiat currencies.