I want to start trading and was wondering which option would be best for me? I’m currently paper trading forex but find it quite challenging…any advice would be appreciated
It really depends on you. But if you’re thinking about crypto trading, you can start with coins like XYZ, which is very beginner-friendly.
In my opinion, it’s crypto. This guy covers nighttime crypto trading pretty well if you’re interested: “https://www.youtube.com/watch?v=yo0Uqff7H_8”
For me, who trades both, I think forex is generally easier for beginners.
The forex market is more stable and predictable compared to the wild swings in crypto. Currency pairs often move in patterns that are easier to understand. You can base your trades on economic data, interest rates, and world events. Crypto, on the other hand, can be extremely volatile and tough to predict at times.
However, crypto also has a lower barrier to entry. You can start trading crypto with much less than what you’d need for forex. The 24/7 nature of crypto gives you more flexibility in when to trade.
So it’s really a tradeoff. Forex may be simpler to start with, but crypto has its own advantages. If you have the money, I suggest trying both.
Personally, I’ve had more long-term success with crypto, but I’m glad I started with forex first. Traders Union really helped me build a strong foundation in both markets through their readings and videos. You should look them up on Google and YouTube; they’ve truly helped me from the basics all the way to different strategies.
Ultimately, the easiest option is whatever you enjoy learning and can stick with.
I’ve never been into forex and never tried it. While crypto trading isn’t easy either, I think it’s a bit more intuitive and easy to predict, as long as you can manage your emotions. It’s also nice that there’s a lot of online resources to help you learn and find insights.
@Adley
Try coinsxyz, it looks good and secure. I started there too. https://www.coins.xyz/en/
And yeah, I’m crazy… maybe that’s why I’m on my way to becoming a legend…
Who the heck is 80-100% accurate with their options…
Crypto shows market inefficiencies that can be exploited for years. Algo trading works really well.
daniella said:
Crypto shows market inefficiencies that can be exploited for years. Algo trading works really well.
Could you share a document or video to help get started with algo trading?
Crypto moves for strange reasons in unpredictable ways sometimes. I started there and then moved to options, but I only play same-day expiration SPY calls and puts. Focus on one thing, one ticker, or one strategy until you know how it moves and can actually make profits. Don’t stay on paper trading too long because emotions are half the battle and they aren’t present while you’re just on paper… Also, expect to ‘pay tuition’ as you might lose money learning; that’s just the reality. Lastly, find a good mentor to guide you and stick to your system. I can send you a link to a great discord group with pro insights if you want.
@coincoin
Hey, I’m a broker in Miami. I’d love to get that link. Please message me.
@coincoin
Is it okay if you share the link with me in a message?
Neither of them. Stocks are much easier.
Alexander said:
Neither of them. Stocks are much easier.
For real.
As you can see, both crypto and forex trading have their pros and cons.
Crypto is good for swing trading.
Trading homemade ice cream or collectibles is easier and more profitable.
Quit trading and start investing.
Rayne said:
Quit trading and start investing.
Yep… just buy and hold. Don’t sell. Keep dollar-cost averaging. Buy the dips and even the dips of the dips. Don’t hesitate to keep dollar-cost averaging. Think of the 2024-2025 bull market. Have an exit strategy—say in January 2026, take out what you put in throughout the year and leave the profits. The bull market might keep going. Also remember, you don’t pay taxes on what you didn’t earn… so it’s really simple.
@Jane
How do you buy the dip? How do you identify the dips?