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Forex or Cryptocurrencies Day Trading? Which is Riskier? 🤔
In addition, they offer two premium services which provide access to their ‘Strike 3.0’ product. You have the option of Advanced or Titanium plans, at US$49* or US$97* per month respectively. In addition to the training aspect, these plans offer more in-depth trading support including alerts and software. The more expensive plan also includes access to a live trading room and calls, as well as advanced training modules.
When looking at Bitcoin from a forex standpoint, it is clear that BTC can't hold a candle to it. However, the BTC offers several advantages of forex. With the BTC comes volatility. Because BTC is limited, this creates the perfect conditions for strong daily trading. Due to the value fluctuating by more than 5%, it gives traders a greater range to make a profit.
Before committing to a trade you'll always need to answer a set of questions like: What is the target for this trade; Where to sell; What is the position size; Where is the stop-loss; Is this a short or a long-term investment. With Crypto Trade Academy, you'll not only learn to ask yourself all the right questions. When you complete our training, you'll know how to answer them each time you'll start planning a new trade.
Here's why you'll NEVER make money in Forex. The Forex Cycle of Doom...
Forex also lacks the same volatility present in crypto, making it hard to take advantages of small differences in exchange rates. However, this comes with the benefit of easily available liquidity. In other words, it’s pretty easy to trade any given currency for another, like trading US dollars for Nigerian naira. Orders like that tend to be filled nearly instantly. Because Forex has such high daily turnover, there are a lot of pairs that exist even if they’re otherwise minor currencies. Forex’s liquidity also ensures that even large trades won’t overly change the asking price of a given trade. For crypto trading, large trades often have a huge impact on price.
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As the world becomes more and more interconnected and countries begin to rely on imports and exports to keep their economies functioning, forex trading has risen up as a popular alternative to stock trading. Forex traders enjoy the freer schedule that comes along with the decentralized currency market, which forgoes the traditional 9-to-5 schedule on which Wall Street operates.
This content is sponsored and should be regarded as promotional material. Opinions and statements expressed herein are those of the author and do not reflect the opinions of The Daily Hodl. The Daily Hodl is not a subsidiary of or owned by any ICOs, blockchain startups or companies that advertise on our platform. Investors should do their due diligence before making any high-risk investments in any ICOs, blockchain startups or cryptocurrencies. Please be advised that your investments are at your own risk, and any losses you may incur are your responsibility.
About the author: Steven Hatzakis Steven Hatzakis is the Global Director of Research for ForexBrokers.com. Steven previously served as an Editor for Finance Magnates, where he authored over 1,000 published articles about the online finance industry. Steven is an active fintech and crypto industry researcher and advises blockchain companies at the board level. Over the past 20 years, Steven has held numerous positions within the international forex markets, from writing to consulting to serving as a registered commodity futures representative.
Develop your trading skill set with Bizintra and learn to consistently place intelligent trades with confidence. Bizintra believes that if you wish to trade live you need to be taught in a live environment - complimented by on-demand videos, daily trading signals and access to live traders at the times you need them. Bizintra provides the live education and support for you to become a confident trader.
On January 1st, Litecoin opened with a price point of $31.18. It crossed the $40 mark on February 9th and exceeded the $50 mark on March 5th. Its first major peak came on April 7th when its price rose to $93.15. After exceeding $100 for the first time on May 25th, Litecoin hit its yearly peak of $140.01 on June 12th. The recent upward price movement can be attributed to three major factors:
Alexander is an investor, trader, and founder of daytradingz.com. After devoting many years to educating himself on powerful day trading techniques and effective investment styles, he started trading and investing more actively. In the past 20 years, he has executed thousands of trades. In 2015, he began writing articles about trading, investing, and personal finance. He is very passionate about sharing his knowledge and strives for success in himself and others. Alexander has been featured on Benzinga, Rockstar Finance, and ESI Money.
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