To use chat, please login.
Back to contacts

Reasons why you should NOT trade cryptocurrencies

Mnern
Jan 27 at 20:47
23 posts
I can’t agree with this. I think that any financial instrument deserves buying and it’s possible to earn decent money on it. You can do this if you are able to predict the market correctly.
However, a lack of experience is the only reason not to trade cryptos if you are a novice trader because cryptos are very volatile and therefore there’s a high probability of losing money trading cryptos if you are an inexperienced trader. Respectively, if you have some experience, you shouldn’t give up trading cryptos.
Quercine
Feb 02 at 08:01
47 posts
Even though cryptocurrencies have challenged the traditional ways of earning profits, it still has a number of drawbacks like cryptocurrency can be a volatile investment and has scalability issues etc. Moreover, comprehending terms and analysing the crypto market can often turn to be really overwhelming for newbies. So, yes, trading cryptocurrencies is not a win-win battle.
AhmadAli89
Mar 02 at 11:53
90 posts
BluePanther posted:
This thread is in response to Leo23's discussion: 'Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc....'
https://www.myfxbook.com/community/general/trading-cryptocurrencies-bitcoinetherium-litecoin-etc/1513362,1

I am blocked and unable to post in his thread, but I would like to share some important information related to cryptocurrencies that all investors/traders should be made aware of prior to their foray into this new market.

My only questions are:
- Is this another case of Tulip-mania?
- Does Leo23 have a vested interest in garnering support for investment interest in cryptocurrencies?

Here is an important article I think the community should read to get a better understanding of recent growth in cryptocurrency demand (specifically BTC):

https://protradingresearch.com/2017/12/14/one-bank-believes-it-found-the-identity-of-who-is-propping-up-the-bitcoin-market/

Sharing (information) is caring. 😎 Feel welcome to share your personal and professional opinion on cryptocurrencys, especially if Leo23 has blocked you from his thread. Please backup all opinions with evidence where possible. Unfounded opinions, posts contrary to generally-accepted social norms of respect, and posts in breach of myfxbook's Terms of Use are deemed inappropriate and may be reported.

Full disclosure: I have invested $0 in cryptocurrencies, and have 0 intention to do so any time soon. The phenomenal gains are the only reason it has caught my curiosity. I will continue to trade 'normal' forex only TYVM.
Personbally I don’t use cryptocurrency trading pairs in my trading because it’s too volatile & I see, the technical factors (till now) are not working here as like major FX pairs! so, I don’t think it’s a goods option to the new traders!
Commonition
Mar 29 at 08:02
23 posts
Crypto currency is considered the future by many, still many people have their reservations for this type of currency. It’s highly volatile and risky to trade. Hackers can hack and you may lose money at any point. It is not a regulated form of digital currency and the owner is unclaimed. Scams are around everywhere, so you may end up losing money.
Barton (Barton90)
Mar 30 at 06:25
6 posts
BluePanther posted:
This thread is in response to Leo23's discussion: 'Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc....'
https://www.myfxbook.com/community/general/trading-cryptocurrencies-bitcoinetherium-litecoin-etc/1513362,1

I am blocked and unable to post in his thread, but I would like to share some important information related to cryptocurrencies that all investors/traders should be made aware of prior to their foray into this new market.

My only questions are:
- Is this another case of Tulip-mania?
- Does Leo23 have a vested interest in garnering support for investment interest in cryptocurrencies?

Here is an important article I think the community should read to get a better understanding of recent growth in cryptocurrency demand (specifically BTC):

https://protradingresearch.com/2017/12/14/one-bank-believes-it-found-the-identity-of-who-is-propping-up-the-bitcoin-market/

Sharing (information) is caring. 😎 Feel welcome to share your personal and professional opinion on cryptocurrencys, especially if Leo23 has blocked you from his thread. Please backup all opinions with evidence where possible. Unfounded opinions, posts contrary to generally-accepted social norms of respect, and posts in breach of myfxbook's Terms of Use are deemed inappropriate and may be reported.

Full disclosure: I have invested $0 in cryptocurrencies, and have 0 intention to do so any time soon. The phenomenal gains are the only reason it has caught my curiosity. I will continue to trade 'normal' forex only TYVM.
You were wrong about cryptocurrencies. It's been 5 years now, and it has remained as a profitable topic as it has been.
Julia (JuliaEvans)
Sep 01 at 19:30
24 posts
Now that the crypto market is in decline, many traders are buying in the dip. But I am not sure for myself that this is the right decision. I believe that now it is important to hodl existing assets and wait for growth, since until you sell cheaper than you bought, you have not actually lost anything, and making new investments is now quite dangerous.
Cistern
Sep 07 at 08:00
18 posts
Cryptocurrency is highly profitable only if you know how to use it properly. In fact, the unpredictability and risk factor of crypto is much greater than other markets. But with the right knowledge, plan, and slow steady progress, you can surely win in the crypto game.
henrytrade
Sep 13 at 11:41
51 posts
In spite of the market's volatility and fluctuations, cryptocurrencies are considered to be very lucrative in the long run.
Vivacity
Sep 14 at 10:57
12 posts
There is no reason to not invest in cryptos! In Fact crypto can be a great investment if you know what you are doing. You can invest in big currency coins like BTC, XRP and other nice crypto coins. Have great trading.
Please login to comment .