Quote from: bitgolden on August 07, 2020, 08:14:13 PM

Quote from: Toracee on August 05, 2020, 03:59:35 PM

Since January this year, I have been trading forex as a second passive income earning. After making some money in crypto I venture into trading forex, but I got my finger burnt. I wasted a lot of money without making a single profit. I regretted this venture. I have come into conclusion that investing in the genuine crypto project is far better than trading forex. The risk in trading forex is higher than investing in a genuine crypto project.

Psychologically it is better as well, right now there is a chance that forex could upset you even more because in forex what we are talking about fiat and that is why I think it is vital importance that forex has to do well, if not that means your country is not doing as well. Think about it, if you are doing forex with your national fiat versus dollars and dollar becomes much better while your own fiat drops a lot, you might use forex and make a profit from this, yet it is still horrible for you because your nations fiat currency is dropping in value and that means you as a whole nation dropped in economy.

Whereas in crypto, it goes up or down but no nation is affected by it like that, bitcoin could be zero and only the investors are affected, population of all nations are fine.

When it comes to trading psychology, many traders fail in that part because they do not manage their emotions very well where they are not aware on their feelings and emotion when they do trading. Having a winning while having good mindset can make a trader to become consistently profitable in every types of market but we should also know our own capabilities in trading because not all of financial market have same approach in trading. Consider the volatility and other factors, we cannot conclude that forex is more good than crypto or vice versa because both of them requires experience and a lot of skills in order to master it.