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Forex trading is highly volatile compare to cryptocurrency. You can loss all your money in one day if not be properly done. It advisable not use all your money to trade forex.Volatility is something that we all look for in the market in order to be able to try and benefit from the trades that we make and in order to increase our profit in a shorter period of time. However, if you are new to trading it is generally said that you should look at forex trading first before crypto because the risk is smaller due to a lower volatility. This is because the volatility that you see in forex is generally around 1% change within a day, whereas in crypto it can be much larger with Bitcoin volatility generally being between 5% and 15% daily.
This means a lot more time needs to be spent monitoring the market and you have to be sure of your trades and have patience. Do you agree with forex trading being less volatile and being a good starting point?
In my opinion i think that the risk is much higher when it comes to cryptocurrency especially if you look at how the price of these coins has risen and fallen in such a short period of time. Take dogecoin for an example.Forex trading is highly volatile compare to cryptocurrency. You can loss all your money in one day if not be properly done. It advisable not use all your money to trade forex.
You right the best thing is not to put all eggs in one basket. It will better to split it and also explore other means of investment outside forex trading and cryptocurrency.In my opinion i think that the risk is much higher when it comes to cryptocurrency especially if you look at how the price of these coins has risen and fallen in such a short period of time. Take dogecoin for an example.
I have trade both pairs and I beg to differ,we can't compare forex Volatility which is always reacting with the time zone market change to cryptocurrency that can't be defined.Volatility is something that we all look for in the market in order to be able to try and benefit from the trades that we make and in order to increase our profit in a shorter period of time. However, if you are new to trading it is generally said that you should look at forex trading first before crypto because the risk is smaller due to a lower volatility. This is because the volatility that you see in forex is generally around 1% change within a day, whereas in crypto it can be much larger with Bitcoin volatility generally being between 5% and 15% daily.
This means a lot more time needs to be spent monitoring the market and you have to be sure of your trades and have patience. Do you agree with forex trading being less volatile and being a good starting point?
It's also what makes the market so attractive to people. I do agree with your view, especially for someone who's willing to spend a fortune to make trading a source of revenue.In my opinion the crypto market is extremely unpredictable. The price may be going up one day and may fall considerably the next. And whilst there are many coins that are tied to the value of Bitcoin and generally rise and fall with the coin, there are many crypto that do not emulate this as well. Just as an example, if we look at the value of Bitcoin the price has gone down in the last 24 hours, but coins like DAI and USDC have increased in value. So whilst you are right in there are many coins that do follow that trend, there are also many moer that do not which can make it unpredictable. This is just my opinion.
Trading can be very risky though and i think that if people are trying to make this their main source of income then i can be very hard for them because there is no set certainty about your income every month.It's also what makes the market so attractive to people. I do agree with your view, especially for someone who's willing to spend a fortune to make trading a source of revenue.
Cryptocurrency will definitely be more volatile. It has so many fundamental influence than forex, the forex market represents a country's currency Value And they are mostly likely to be stable.This is a very true comment. For those who are still very conversant with cryptocurrency, you would have noticed that it has so much more volatile fluctuations than what is obtainable in forex market
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