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Risk management in cryptocurrency and forex
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[QUOTE="Mika, post: 229994, member: 29399"] I cannot speak of forex because that is not my forte, in fact, I have never tried my hands on forex. Well, I did try my hands with forex on a demo account, I was given 10K USD to trade forex and I did manage to earn profits from demo trading. However, I was not encouraged to try with real money. However, I have in to cryptocurrency investment and trading. Just like forex, crypto is also a risky business but with crypto there are many ways to manage the risk. For instance, if you invest in top coins according to coin market cap, for instance Bitcoin (1st), Ethereum (2nd), BNB (4th) it is very unlikely that you will lose your investment. Well, you assets might be devalued but if you hold your assets until the market improves, you can profit. Trading crypto can be risky, but if you made some losses in one trading, you might be able to recover the loss in another trading. You cana also use your crupto assets for staking, yield farming, etc. to generate profits or minimize your risk. I hve not tried this, but when the market starts going down, you can convert to stable coin to minimize the risk. [/QUOTE]
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