if you intend to succed as a forex trader you need to have certain tools that can make your job easy or that can make you to carry out analysis before entering a trade easily.
Bitcoin is very volatile and that makes it a little bit difficult to analyse but it is very possible to analyse forex market with some level of accuracy and it is quiet easier to analyse.
I still believe that bitcoin is much more easier to analyse irrespective of the fact that it is volatile but it is a very easy trading compared to forex that is complex.
It is true that forex is a complicated trading but cryptocurrency is a straight forward trading that does not require much effort but the level of volatility in cryotocurrency is extremely high compared to what you would get in Forex.
It is important to ensure that you have enough experience on how to trade cryptocurrency if you don't want to put yourself in a big mess because of its high level of volatility.
I have always advocated for learning before you trade because if you do not learn the intricacies of the cryptocurrency trading and you jump on it, it is likely that you will lose huge amount of money.
If there is anything that need enough experience, it should be forex trading because you cannot trade forex without having enough experience on how to analyse the chart critically.
This is why so many people have failed in that aspect and that is why they would find it very hard to make money in forex because you must gain relevant experience before you can start to think of making money from this adventure.
It is very crucial to gain enough experience in forex if you are really nterested in making money from this adventure because it's a niche that needs enough experience if you don't want to lose your money.
People lose a lot of money every day in forex trading and that is why it is important to gain enough experience before you will think of going into such kind of business .
The interesting thing is that Forex gives you opportunities to minimise risk and minimise losses through the use of the stop loss and take profit order while trading.
It is true that you can minimise losses through the market orders that is available to use in the forex market and the good thing is that these tools are free to use and you can have access to them anytime.
So many people do not love to use the market orders in order to prevent themselves from incuring losses and it is common among the professionals who believed in their judgement.
Irrespective of the ability to make an informed decision in the forex market, there is need for you to always involve proper risk management strategy which could be done through the market orders.
I think that most of the losses that is recorded in forex are due to over-confidence because not using the stop-loss and take profit order could lead to colossal losses and it is a loss that is avoidable.
