Can I trade cryptocurrency with FX trading knowledge?
Can I trade cryptocurrency with FX trading knowledge?
I must admit that I’m truly a newbie in both trading and cryptocurrency at large. I took some courses on trading some months ago, those training were majorly on foreign exchange (trading currency pairs). I’ve not been able to perfect my strategies though, but I’m curious about cryptocurrency trading, would there be need to learn it specially or general trading knowledge can help in cryptocurrency trading: can I trade cryptocurrency with the knowledge I’ve acquired in Foreign exchange trading?
What is mostly matters is that you know about trading orders already, you know about indicators and the basics. Both forex and crypto trading are very similar but with few difference. I will advice you to learn more about trading, even you are newbie in forex trading, that means you need to learn more. Start with like $50, trade each time with like $11 from the $50 and learn more.
Use the money you can afford to lose to trade, trading is highly risky. Know that cryptocurrencies are highly volatility.