How does the 20 pip challenge in the cryptocurrency industry compare to other forex trading challenges?

3 answers

• Dec 27, 2021 · 3 years ago
  The 20 pip challenge in the cryptocurrency industry is a trading strategy that focuses on making 20 pips profit per trade. It is similar to other forex trading challenges in terms of setting a specific target, but it is specifically designed for the cryptocurrency market. The main benefit of this challenge is that it allows traders to set a clear goal and measure their performance based on the number of pips gained. However, it also comes with some drawbacks. The cryptocurrency market is highly volatile, which means that achieving a consistent 20 pips profit can be more challenging compared to other markets. Additionally, the 20 pip challenge may not be suitable for all traders, as it requires a certain level of experience and skill to execute successful trades in the cryptocurrency industry.
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• Dec 27, 2021 · 3 years ago
  The 20 pip challenge in the cryptocurrency industry is an interesting concept that aims to provide a clear and measurable target for traders. Unlike other forex trading challenges, which may focus on different strategies or timeframes, the 20 pip challenge specifically aims to achieve a 20 pips profit per trade. This challenge can be exciting for traders who enjoy setting goals and tracking their progress. However, it's important to note that the cryptocurrency market is known for its volatility, which means that achieving a consistent 20 pips profit can be more difficult compared to other markets. Traders should carefully consider their risk tolerance and trading skills before participating in this challenge.
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• Dec 27, 2021 · 3 years ago
  The 20 pip challenge in the cryptocurrency industry is an interesting approach to trading. While I can't speak for other challenges, I can say that at BYDFi, we believe in setting clear goals and measuring performance. The 20 pip challenge allows traders to focus on a specific target and evaluate their success based on the number of pips gained. However, it's important to keep in mind that the cryptocurrency market is highly volatile, which means that achieving a consistent 20 pips profit can be more challenging compared to other markets. Traders should carefully analyze market conditions and develop a solid trading strategy before participating in this challenge.
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