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You've probably read a post like this a million times. 

The only difference here is that, for the past 5 days, I have traded on the FX market exclusively. 

Yes, I actually put a hold on my crypto trading to do this experiment for you. (Don't thank me....you're too kind!)

And after 5 days of back to back wins and losses, I have come up with the ultimate review for anyone thinking of which way is best for them to multiply their money.

Remember: The key is to turn your ordinary earned income into portfolio income as efficiently as possible. The last part in bold is the most important.

Ready? Let's go!

So I'd like to list a few characteristics of each market before we proceed:

CHARACTERISTICS OF THE FOREX MARKET

• Regular crypto trading techniques don't work here. At all. I actually learnt this the hard way. As many of you know, I have been able to formulated my own winning strategy for crypto. I tried that strategy over at the Forex market and blew my account the first time. Thankfully, I only started with $50, but it was still quite some money nonetheless.
• You can't survive without leverage: Leverage occurs when you risk a large amount of money for a potentially smaller amount. Like risking $50 to make $1. Luckily, there are leverage levels offered by brokers that multiply your profits also. So risking $50 no longer makes you $1, but $100 if you have 100x leverage.(which you shouldn't)
• The brokers want your money bad: The first thing I saw when I signed up to the broker I used for this experiment was the 100x leverage option. That means that all my profits would be multiplied by 100. It might seem like a good deal to noobs, but it's a death trap. Because your margin requirement has very little room to change, and if it does change by a substantial amount, you get margin called instantly. Your money goes to the broker, who is again happy to inform you that you need only $50 to open another 100x leveraged account.
• Forex market is highly manipulated by news: News is everything in the Forex market. The Corona virus outbreak actually almost destroyed the Aussie dollar, which I happened to be trading at the time. (Another brazen loss as you might expect). There is literally an economic calendar that tells you when major economic changes would occur. These changes could be detrimental or super helpful to the pair that you happen to be trading at the time.

Those are all the ways the Forex market differs from the crypto market.

Now on to another aspect: Technical analysis.

Technical analysis is the bread and butter of the Forex market. Many people are all watching for the same levels, so these levels become self fulfilling prophesies. Trading without TA in the Forex market is suicide. Literal suicide. You will blow your account, and you will not like it at all.

Technical analysis sometimes works as expected in the crypto market, but really the basics of support and resistance work way better than something like Fibonacci levels.(which are a load of crap by the way.)

You'll also need a rigid trading plan for the Forex market. Your rules of entry must have been backtested 3-4 years into the past, and must have produced a win to loss of at least 50% for it to be valid. The rules must also be very rigid, and not change at all, despite how lucrative an opportunity might be.

This is not the case for the crypto market. Yes, you can have a plan, but there are times when your plan goes out the window and there's nothing you can do to save your self. So you scrap the plan and go with instinct. That's the only way you'll save your head. Doing this in the Forex market is equally suicide.

Now, on to the part you've all been waiting for: Which one is more profitable?

I'll tell you right away: The Forex market is much, much more profitable than the crypto market.

I had a $50 account, and with 5x leverage, that account is sitting at $75.25 after just 5 days of trading. That's 10% a day, or 10 pips a day for me.

It is possible to do the same in crypto, but the coin would have to move a whole 50% to the upside for that to realise. 50% moves aren't as common in the crypto world anymore

That said, Forex trading does come with substantially more risk. The fact that you could lose your whole account to a margin call is scary in itself, not to consider that news could equally make you lose money. 

In conclusion, who should trade Forex?

Here's a quick bullet list before I end the post finally.

WHO SHOULD TRADE FOREX?

• Anyone who wants to turn $50 into yellow lambo money.(Just kidding)
• Anyone who is cool with learning the ins and outs of technical analysis.
• Anyone who wants to multiply their money fast.
• Anyone who doesn't mind waiting for days for trade setups to form.
• Anyone who doesn't mind leverage trading.
• Anyone who wishes to position trade(hold a trade for longer than a day) for massive profits.
• Anyone who hates the crypto market and wants to spit in it's face(no hard feelings)

So, having said all that, here are my results for the period I traded.

I started on Wednesday last week, and I ended the challenge today. I withdrew my earnings and have them in my bank account.

Starting capital: $50

Wednesday: Total profit: -$50

Account equity after Wednesday: $0.

I then tried again with $50.

Thursday: Total profit: 12 pips.

Friday: Total profit: 8 pips.

Saturday: Total profit: 11 pips.

Sunday: I couldn't trade because of personal responsibilities.

Monday: Total profit: 19 pips.

Making for a total of 50 pips in 5 days, or $25 profit.

Thanks for reading!