My Trading Journey so far

I've been in crypto for almost six years, but it was only about two years ago that I really started exploring aspects beyond just holding based on fundamentals.

I’ve always been familiar with trading, especially in the FX markets. In 2023, I began applying FX principles to crypto. It hasn't been a straightforward journey, of course, but overall it's been a good one.

There are a lot of similarities between FX and crypto, and a few key differences—for example, I can trade crypto on weekends, and I'm not limited to just trading for ROI. With crypto, I can also participate in promotional events, enjoy meme coins (like I did last week with Useless and Tap), use on-chain tools, and much more.

That said, the core trading skills are largely the same, with just a few adjustments. My FX background definitely helped when I transitioned into trading crypto. Or do you think there are more significant differences?

Your FX background absolutely gives you an edge in crypto trading! The core principles technical analysis, risk management, and psychology translate perfectly. The big perks? Crypto’s 24/7 action and bonus opportunities like airdrops or meme coin pumps add layers FX can’t match.

That said, crypto’s wild volatility and low liquidity on altcoins demand tighter stops. Also, unlike FX’s macroeconomic focus, crypto moves hard on hype (Twitter/X, tokenomics, and dev team drama). Your skills transfer, but staying nimble with crypto’s quirks is key.

sariona said:

That said, the core trading skills are largely the same, with just a few adjustments. My FX background definitely helped when I transitioned into trading crypto. Or do you think there are more significant differences?

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The key issue here is trading strategy. Then you have to look at the trading conditions. If the broker prohibits trades in a few seconds, then intraday is definitely not suitable.