How would you convince crypto traders to trade forex?

Beginner Questions
1

Hellooo! :smiley: Haha. I just got off the Zoom call with my college best friends and it was so fun to know that they’ve been dabbling a bit into crypto trading recently. :smiley: Haha. it’s fun cause of course, I would have other people to talk about this. This made me think that since they’re already looking into crypto trading, might as well convince them to try forex! HAHA. :smiley: ’

I’m sure a lot of you will think that I shouldn’t have to convince them to trade forex but I guess it’s a selfish wish of mine. :sweat_smile: Let’s say you were in my position, how would you convince your best friends to also try out forex trading? :thinking:

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2

Show them results and they will instantly get interested lol. By the way you can also trade crypto in the futures market, so just like forex.

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3

Crypto has been the latest big thing, a bubble if you like to call it that, which has made some people a vast amount of money they would have been unable to make from either forex or the stock market.

But bubbles burst, and the latest new thing becomes just another old thing. Crypto, if it survives, will become just another currency. So it makes sense to perfect the skills and expertise to retain an income flow when that happens, and that will come from trading forex.

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4

If you want, you can analyze and explain the condition of the crypto. In crypto trading, you can only buy, and in the Forex market, you can make a profit through two buy/sell. Dumping the market in crypto takes time to recover. But the Forex market is different.

5

Tell them to have fun while it lasts.

6

ask him, who can print money :wink: because on 100% you can’t do it at home :wink:

7

One simple way of putting it is
Forex is still hands down the largest market period.
FX will still be here as long as we’re able to trade not saying Crypto will ever go .
Trade both makes more sense

8

OOH How I wish I had astoundingly tempting results. :sweat_smile: To be honest, since I only trade part-time and I often limit my trades, the profits I get are not as impressive as the ones they’ve seen for crypto. :sweat_smile: But thank you so much for this! :smiley: Haha. I bet it would work great for other traders.

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9

Great point, tommor. :open_mouth: It’s really hard to tell when the crypto bubble will burst, or if it will ever. :open_mouth: I think when it comes to stability and consistency, Forex is really the way to go (at least for now that the crypto market is expanding sooo fast). But this reason made me wonder if there was also a point in time when people thought forex was also just a bubble. :thinking:

10

Hmmm. :thinking: Interesting. I believe crypto trading also involves buying and selling (coins). :open_mouth: Maybe you’re referring to crypto staking? :slight_smile:

11

Hahaha! :sweat_smile: With a little threatening. :sweat_smile: I wonder how they’d react to that. I might just jokingly say this in our next virtual hang out. Thanks Steve! :smiley:

12

I still think crypto is a bubble. But that doesn’t mean its crazy to be in there.

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13

It is just as easy to go short as it is to go long so you can make money in any market condition.

14

Understandable. :blush: I’m sorry if I keep asking questions, but at this point, I wonder what would convince YOU to trade crypto while also trading forex? Haha. :smiley:

15

if I could have treated it seriously when the bubble was expanding I should have been in there long. But I ignored it as an unknown market and therefore an unknowable risk. That was probably short-sighted.

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