Forex Or Bitcoin – Which Is Better For At Home Traders Looking To Secure Their Financial Future With Faster Wealth Accumulation?
I get asked a lot, “Forex or Bitcoin, which is better?” And the frequency I get asked this question makes me believe there is some confusion about Forex trading and Bitcoin trading (at least the way I trade Bitcoin).
So, I wanted to do this post to clear up any confusion you might be having about Forex trading and Bitcoin trading.
I think part of the problem is Bitcoin is relatively new, and many people associate “new” with “different”. You might be surprised to find out, Forex and Bitcoin trading are surprisingly similar.
Read this post all the way to the end and then use the Table Of Contents to revisit sections you want to explore in more detail.
By the end you’ll be able to answer the Forex or Bitcoin question and understand how I trade Forex and Bitcoin (and how you can do what I do as well).
BOTH Forex trading and Bitcoin trading are a part of my plan to accumulate wealth faster, create multiple income streams and secure my financial future.
What Is Forex Trading?
Forex, or FX, refers to the Foreign Exchange. The Foreign Exchange is basically a global marketplace for exchanging currencies against one another. The Forex market is the largest and most liquid market in the world.
In order to trade Forex, you need a Forex broker, which allows you to interact with the Forex market electronically.
Currencies are traded as pairs. For example the GBPJPY currency pair is the Great British Pound vs the Japanese Yen.
The role of the trader is to identify high probability BUY and SELL opportunities and make more money on winning trades than they lose on losing trades. Do this over the long term, and you will be profitable.
I’ve done a lot of posts on Forex trading here on the site, so on your second read through you can explore other posts:
- How To Start Forex Trading With The Right Reason, The Right Path, The Right Mindset & The Right Plan
- Why Start Forex Trading To Accumulate Wealth Faster, Create Multiple Income Streams & Secure Your Financial Future?
- How Forex Traders Make Money Easily And Accumulate Wealth Faster With A Strategic Plan And Long Term Mentality
Ok, let’s move on.
What Is Bitcoin Trading?
Here is where the confusion comes in, and why people are always asking about “Forex or Bitcoin?”
You see, there are a lot of different ways to trade Bitcoin. And when most people think of “trading” Bitcoin, they think of buying Bitcoin at a Cryptocurrency Exchange and then exchanging the Bitcoin for another cryptocurrency.
Or, you could buy Bitcoin, and then exchange it back into a fiat currency, like the US dollar.
If buying Bitcoin is something you want to do, I go over how to do this here: How To Get Bitcoin Like A Pro The Very First Time Using Detailed, Simple Instructions Even A Complete Beginner Can Follow
I personally have Bitcoin holdings and activity work to GROW my Bitcoin.
My favorite way to trade Bitcoin for profit is exactly the same as trading Forex. I use a Forex broker that allows trading the BTCUSD (Bitcoin vs US dollar) currency pair. And just like trading any other currency pair, you don’t need to actually physically buy either currency.
So, you can trade Bitcoin without ever having to actually buy any Bitcoin, deal with cryptocurrency exchanges or crypto wallets.
Just like a Forex trader, the role of the trader is to identify high probability BUY and SELL opportunities and make more money on winning trades than they lose on losing trades.
Do this over the long term, and you will be profitable.
On your second read through, you can check out these posts:
- Is Bitcoin Trading Profitable Enough To Make Up For Lost Time And Help You Secure Your Financial Future?
- Can Bitcoin Trading Make You Rich? See How Profitable Bitcoin Trading Can Be And An Example Of A Profit Rocket
The point is, I personally don’t make any distinction between trading Forex and trading Bitcoin.
Why (I Think) Traders Shy Away From Bitcoin Trading
Even people who identify the ability to trade the BTCUSD currency pair might shy away from trading it.
Because they think they need to learn about the Bitcoin market in order to be able to make trading decisions. And since the market is new, and there is a lot to learn, they don’t want to have to learn an entirely new market.
To be fair, if you are a Fundamental trader, this would be true. Fundamental traders look at the news and other factors in order to make their trading decisions. In this case, you would have to learn about the Bitcoin market, which can seem overwhelming.
However, I am a Technical trader. I make trading decisions based on what I see on the charts. And to aid in the decision making, I create trading strategies that are strategically designed to be profitable over time.
In this case, I don’t need to learn about the Bitcoin market at all. I just needed to create a trading strategy, put it on the chart and trade according to the rules.
Forex Or Bitcoin – Can You Tell The Difference?
Some of you might be saying, “No way, you can’t trade Bitcoin without knowing about the market.”
Take a look at these charts:
Forex or Bitcoin? Can you tell which chart is Forex and which chart is Bitcoin?
- The first chart is the GBPJPY currency pair.
- The second chart is the BTCUSD currency pair.
You see, charts are charts. If you can trade one chart, you can trade the other chart. All you need is a trading strategy that identifies high probability moves, and trading rules that allow you to win more money on winning trades than you lose on losing trades.
Forex Or Bitcoin – Which Is Better?
When people are trying to decide between Forex or Bitcoin, I believe they are treating Forex and Bitcoin as two different markets. So, the question really is, which market is better to trade, Forex or Bitcoin?
I look at the Forex or Bitcoin question in terms of currency pairs. The question for me is, which currency pair is best to trade for high profitability? I don’t really care about the market I trade, only the potential profits of the currency pair.
When looking for currency pairs to trade, I look for currency pairs with high volatility and large swings in the market.
Because I trade with a high risk to reward ratio. By this I mean I set up my trades in the beginning where my target is much larger than my risk. In a lot of cases, I am using a risk to reward ratio of 1:10.
Think of it this way, if I risk $10, my target is $100, ten times the risk.
This way, I can make a lot more money on winning trades than I lose on losing trades. And with such a high risk to reward ratio, all I need to do is capture some big moves and it is easy to stay profitable over the long term.
And to get these big moves, you need the currency pair you are trading to have big moves. Both the GBPJPY and BTCUSD currency pairs provide for these big moves.
Check out the profitability:
As you can see, both Forex trading and Bitcoin trading have high profit potential.
So, the question does not have to be “Forex or Bitcoin?”. It does not have to be “either or”. You can trade BOTH.
Trade Forex Or Bitcoin The Way I Do
I started trading Forex and Bitcoin because I got a late start investing for my future. I quickly figured out “working harder and saving more” was not going to get me where I wanted to go.
You see, I needed to accumulate the wealth I needed in the time I have. Forex and Bitcoin trading allow me to outperform other investment opportunities, and accumulate wealth faster.
And I can help you do the same…
If you want to become an independent Forex trader, I recommend:
If you want to simply copy my BTCUSD trades, go here:
Or, you can do what I do, and do both.
If you are an at home trader looking to accumulate wealth faster with Forex and Bitcoin trading, you now have options. It does not have to be “Forex or Bitcoin”, it can be “Forex AND Bitcoin”.
To Your Wealth,
If your still not ready to start Bitcoin trading to accumulate wealth, get this free training: