Hello,
What are the Advantages and Disadvantages of the Crypto and Forex? Why should anyone choose Crypto over Forex?
Thank you.
My friends in the Forex market have mentioned that Forex trading doesn't simply move directly upward or downward. It involves various fluctuations, daily cycles, and requires close attention to specific price actions. This stands in stark contrast to the cryptocurrency market where, particularly in the last couple of years, buying the dips seemed to be the predominant strategy. In Forex, however, there's a learning curve toward becoming a disciplined trader, emphasizing data collection to build trust in your strategies.
In cryptocurrency, there's a strong emotional attachment, especially to dominant coins like Bitcoin, significantly impacting our trading decisions. On the other hand, in Forex, trading pairs such as USD/JPY or EUR/USD often allow traders to be less concerned about the market's direction and focus more on their individual trading setups. Personally, I find the crypto market more consistent as technical analysis often aligns with expectations.