Forex Trading and Blogging: Which is Better in 2024?

It is important to know which is better Forex Trading and Blogging before choosing to embark on either of them. Both Forex Trading and Blogging are very popular ways of making money online in 2024.

Forex Trading and blogging which is better
Forex Trading vs Blogging

Now for you to be here, you either want to know which is better between forex trading and Blogging before you commit to any of them. Or it may be solely for learning purposes. Well, you are in the perfect place to learn which is better. Why?

Because we have dabbled into both Forex Trading and Blogging, therefore, we can give our unbiased opinion about both of them.

We have also referenced authoritative sources to support our points listed in this article.

Having spent years in Forex Trading and a similar amount of time writing for Blogs and just recently opening one ourselves, we will now give you a well-detailed description of what it takes to be a Forex trader or to own a new Website in 2024.

What is Blogging?

What is Blogging
What is Blogging

Blogging involves creating articles, photos, videos, and other content and publishing them on your website regularly.

As a blogger, you make money by providing customers with the information they need. This is done using written content, images, videos, and other forms of media. Now this sounds straightforward but that’s not the case.

Blogging has become more competitive than it was years ago. Many popular questions have been answered. As a new blogger, you have to find new queries or hidden queries that haven’t been noticed and provide an answer to them.

This is the best way to avoid the heavy competition in blogging.

Blogging has so many upsides and downsides which you will see in our comparison with Forex Trading below. Now to the definition of a forex trader.

Who is a Forex Trader?

Who is a Forex Trader
Who is a Forex Trader

A forex trader tries to profit from the Forex market by predicting changes in the price of one currency over another and entering trading positions based on those predictions.

From that definition, you already know Forex is very difficult. But is it as difficult as blogging? Well, we’ll answer that in your comparison below.

With Forex Trading, you have to predict the changes in the price of currencies. Now the word “predict” is the cause of the miseries of most forex traders.

Most forex traders do not understand that no type of forex analysis can give you 100% accuracy when predicting. This means that you will always lose some trades.

Now we said 100%, but to see a 60% winning trading strategy in forex is still rare. But don’t be afraid just yet, it’s too early for that.

To calm your fears, know that there is a term called Risk Management in Forex that covers up for the inaccuracies of Forex Trading Strategies.

But guess what, a majority of retail Forex Traders have no idea about it. Others don’t know how important it is. This explains why most people call Forex betting or gambling.

Now we have written enough to persuade anyone to join forex in this section of the article. And rightly so. Forex is not for the faint of heart. So, let’s get to the main topic. Which is better forex trading and Blogging? Below we show how blogging is better than Forex trading for making money online in 2024.

Reasons why Blogging is better than Forex Trading

There are various reasons why blogging is better than forex trading. If you wish to select forex over blogging, beware, these reasons below could change your mind.

Advantages of Blogging over Forex Trading
Advantages of Blogging over Forex Trading

1. Bloggers are more likely to be successful than Forex Traders

Why do we say this? As explained earlier, forex deals with predictions. These predictions cannot be 100% accurate so that means success in forex is based on probability.

Now the same cannot be said for blogging. Once you open a blog, if your website has satisfied all of Google’s technical requirements and can appear on the search results. With time and regular posting, you will eventually make some money.

Even if it’s $1 per month. Now that is just for starters.

Taking a deeper look into forex, apart from its uncertainty, you still have many factors that can prevent you from being successful compared to blogging. For example, unlike blogging with a centralized authority (Google), forex is decentralized. There are lots of Forex Brokers, prop firms, and trading platforms. Just one out of these companies is enough to make your forex journey a sad one.

ALSO READ  Is Forex Trading Gambling?

The wrong broker, trading platform, or prop firm can negatively affect any forex trader. No matter how super your strategy is.

You can still evade this by properly researching the best forex brokers, prop firms, platforms, and others. But how many beginners are smart enough to do that?

With blogging, the possibility of getting scammed is very low.

With major organizations such as WordPress or Blogger, one can easily open a new blog and start right away. This makes it easier for Bloggers to be successful.

Though bloggers should watch out for hackers. The next reason why blogging is better than Forex Trading

2. The Competition in Blogging can be smartly evaded.

Both Forex trading and Blogging are very competitive ways to make money online.

The Competiton in Blogging

As a Blogger, especially a new blog owner, ranking on the first page of Google may prove to be difficult.

This is because most blogging niches already have lots of top websites competing in them. Now according to SEO experts, one major factor to rank on Google is Backlinks

It is the number of other websites that link to yours. You should know that as websites link to your website, it shows your website has valuable content. Hence you will rank better.

So, a new blog has a lower chance of ranking. Because a new blog will not have backlinks. Also, there is a term SEO experts refer to as SandBox.

They say that Google puts new websites in a sandbox for a period of time, to properly evaluate them and prevent spam. Some say it can last for several months to years.

During this period, these websites may find it difficult to rank. Well that’s not all, there’s more in store. But, let’s move to the competition in Forex.

The Competition in Forex Trading

As a forex trader, you compete with every other forex trader who does not trade together with you. That is, forex is a zero-sum game.

Whenever you take a trade, there must be an opposing party placing the opposite of that trade. So, for you to gain money in the forex market, someone else must lose.

That means every forex trader competes with others.

So, you just got your Android device, downloaded MetaTrader 4, and opened your real account.

You pull out your trading tools, trendlines, support, and whatever. And you think it’s time to make some money.

You have big companies and hedge funds also trading in the same market. People with a specialty in that field, that is far more than yours. And you think you can beat them with your trendlines. You might need to rethink that.

So, the main reason for this section is with blogging, there are various ways to escape the competition.

You can find search queries in your niche that have not been answered using popular tools. You can use various strategies which can be easily learned to get backlinks on your new website. And many more ways.

How are you going to escape the competition in Forex Trading? If not for tools like Risk Management which most traders neglect, there may not be much hope for retail forex traders.

You can beat the competition if you can learn how the big guys trade. Or if you can get your edge which will require a lot of work. Now don’t be discouraged just yet, we still have more reasons why blogging is better than forex.

3. Forex Trading demands an extreme level of discipline and consistency to be successful.

To be successful as a Blogger, you need to post unique, people-first content. I mean google has a page showing how to create content that they prefer. So that means you literally have a guide from your employer (Google) on how to get better results.

This means that by joining a niche that you have experience in and posting unique content regularly, you should be ranking well on Google.

All you need is a small level of consistency, expertise, and discipline.

Now let’s see what you have to be successful in Forex. As seen from multiple trusted sites online and from our own experience. You need to be able to control your emotions. What it basically means is, that you can lose $2000 and you are expected not to overreact.

And it’s true, you need to approach the market with a god-tier level of discipline, hard work, and consistency. You can equate it to smiling while being tortured, mentally.

4. Blogging requires less time to become consistently Profitable

Now this might be surprising. As we just said it takes months to years to leave the Google sandbox. Well, guess what? Forex trading takes longer to be consistently successful.

Some say, 5 years, others say 10 years. Some say one. Who knows, yours could be 20 years!

With blogging, it should take 2 years to start seeing profits, with hard work and consistency. And with a good blogging strategy. Some even start seeing profits in about 6months into blogging.

5. Forex Is a Zero-Sum game

Well, this has already been talked about above. While bloggers make money through ads, affiliate marketing, selling their products, and other means, Forex traders make money from each other.

ALSO READ  How To Calculate Leverage and Margin In Forex

To make money in the Forex market, the other party you are trading against must lose. When you buy USD and sell CAD, if USD gains value over CAD you make a profit. The trader who sold his USD to you and bought CAD will lose. Since CAD has lost value against the USD.

If the opposite happens, you lose and he wins. That is forex. It shows how difficult the market will be as you are trading against well-experienced traders.

To worsen it, these experienced traders come together and form Hedge Funds. While you remain in your room using the forex trading strategies that you learned on YouTube.

6. Automation in Forex Requires Knowledge of Programming

A dream everyone shares is to be able to automate their businesses. That is they can leave it and focus on other things while their money multiplies.

That’s what makes investments so catchy.

To automate forex trading and “make money while you sleep” you need knowledge of coding. At least, you need to be able to know Python which should be the easiest language to learn for automation in forex.

With algorithmic trading using Python, you can automate most of your strategies and make bots that trade for you while you sleep.

Well, the problem is most traders don’t have knowledge of programming, and it can be difficult.

With Blogging, you already make money while you sleep, from your active content. To further automate, you need money to pay your writers, graphics designers, SEO experts, and proofreaders.

To some people, this is better than having to write plenty lines of code.

Reasons why Forex Trading is better than Blogging

After reading all that, if you are still here then you mean business. Here are some reasons why forex trading is better than blogging.

Advantages of Forex Trading over Blogging
Advantages of Forex Trading over Blogging

1. Forex Traders can make much more money than Bloggers

Successful Forex Traders make more money than bloggers

Before you try to argue. Do a quick search on Google and compare the richest forex traders to the richest bloggers. Ray Dalio, one of the richest forex traders in the world has a net worth of 19.1 billion dollars.

As of 2024, one of the richest bloggers Ariana Huffington has a net worth of 250 million dollars. Why is this so?

Forex traders don’t earn in dollars. We earn in Pips. The effect of pips can be varied for each trade by varying the lot size. Don’t worry about the meaning of lot size. Basically, a successful forex trader makes money in percentages.

This means that the more money you put into forex trading if you become able to make profits consistently, the more money you make. If you make 10 pips profit in a month, and you set 1pip to equal 1% of your account, then you made 10% profit in a month.

Bloggers don’t earn in percentage. You get more money if you invest enough into blogging, but it has a limit.

You can’t write one million blog posts.

2. Forex Traders make money from home without having to interact with anybody.

Our introverts will love this. As a successful forex trader, you plan your trades, execute the plan, make your money, and continue with life. You don’t have to interact with anybody to make money. You are your boss.

Forex Traders live the dream of being your own boss. It may be seen as the reward of the hard work and dedication required to become successful in forex trading.

Bloggers on the other hand will need to make partnerships, strike deals (affiliate marketing, referrals, or ads), and employ labor (writers, SEO experts, or graphics designers). You may even have to hire a manager.

All these are unavoidable as your blog continues to grow larger.

Hence as a forex trader, after selecting the right broker and trading platform, your success depends on you and you alone, not your manager. Also, bloggers are not as self-employed as it may seem we will explain below.

3. Forex Traders are not Self Employed.

As we explained above, forex traders do not work for anyone. Bloggers may think they are self-employed, but they aren’t. They work for the search engines.

Bloggers have to constantly post and update their content. Google advises that blogs that post quality content regularly are likely to perform better.

Looking at this, you realize that you work for Google. Or to put it better, we work for Google. Google search posts new updates and smart bloggers are there to read what changes to make.

You have to regularly check that you are following Google guidelines and not breaking any rules.

Worst of all is when your writers start presenting plagiarized content. Or graphics designers use copyrighted images.

These things may lead to you breaking Google’s rules without even knowing. And therefore, leading to a drop in your content rank.

Forex traders don’t have to worry about similar situations. Except a trader decides to pay another Forex trader to manage his Forex accounts. Then the case of the forex trader becomes worse than that of a Blogger.

4. Most well-paying blogging niches have become Saturated

You might hear people say that blogging is not saturated. Well, that is not entirely true. A common blogging strategy is to target keywords or search queries with little competition.

ALSO READ  Forex Trading Misconceptions: 12 Most Common Forex Myths

Most blogs know and use this strategy. Even blogs that already have authority. This means that those queries without answers or with little competition continue to reduce in number with every passing day.

So, we can also say blogging gets harder with every passing day.

This is not the same with Forex Trading. In Forex Trading you can almost always place trades, thanks to our dear Market makers who put our financial safety first. (that was a joke)

Strategies will continue to work. Most popular trading strategies have been there for years.

Even the influx of new forex traders can’t cause saturation. Instead, it leads to increased liquidity in the market.

5. Bloggers must pay experts to work on their sites eventually.

As explained above, as a blogger you need the help of experts to be able to properly launch and manage your sites.

Yes, with a platform like Blogger, you can easily open a new website. But to get a better domain name, website theme, and template, you need to get someone who has experience in launching blogs to assist you.

Now that is just for launching a website. As your website scales up, you’ll have to employ people to handle some activities.

So, you’ll end up having to pay someone to work for you. You might argue that it’s not entirely bad. But it makes your website vulnerable as nobody will work as hard as you for your website.

While you love and want the site to grow, they just want to make money.

6. Automation in Blogging Requires enough Capital

We said earlier that to automate your trades, you need to learn coding. Well, it’s not so easy for bloggers either. To automate your blog, you need someone to blog for you.

There are no bots that can easily handle the whole process of blogging. While forex traders may have to write complex codes to “make money while they sleep”. Bloggers have to pay managers.

Once again, no one will work as hard as you for your blog. This means that you will definitely see a decline in your blog performance if you don’t manage the blog directly.

Now we have come to the end of our comparison between Forex Trading and Blogging. So, we will give a final answer to the question

Which is better blogging and Forex Trading

From the different reasons listed above, we know that as a blogger you will eventually make money if you can be consistent and follow Google’s guidelines.

Well, the same can’t be said for forex trading. As a forex trader, you could spend years consistently using the wrong strategy, wrong broker, trading with the wrong mindset, with the wrong plan.

We can go on and on.

So, to make money online in 2024, blogging is better than Forex trading. Every normal human wants their hard work to turn into success. This doesn’t mean hard work isn’t rewarded with success in forex.

But if the hard work is followed with the wrong information, it will be a waste of time. Unfortunately, the right information in forex cannot be easily gotten from the main source as with blogging.

But you should know that with the right information, a successful mentor, and the right tools a forex trader will make more money than a blogger would. And faster.

So, if you want to make more money than blogging can offer, and you are ready to discipline yourself till you are unfazed by regular losses. Forex is a good option for you.

With a successful forex mentor, most of the disadvantages listed above are negated and you can become a successful forex trader in less than 2 years.

Now we are done with the comparison, let’s give you reasons why forex and blogging are good options to make money in 2024

Why Forex and Blogging are good for making money in 2024

  • Both Forex Trading and Blogging add value to society: Bloggers give information to their visitors. Forex traders add liquidity to the Forex market. You will not find it difficult to exchange currencies because there is always a trader ready to buy from you.
  • Blogging and Forex Trading are highly competitive Industries. In Blogging, you compete with top authoritative sites. In Forex Trading, you compete with forex experts and Hedge funds.
  • Both Bloggers and Forex Traders can earn money in multiple ways. Bloggers earn money through affiliate marketing, ads, selling their products, and other means. A forex trader can earn through offering forex tutorials, currency exchange, managing Forex accounts, trading with prop firms, and other means.
  • Forex and Blogging require knowledge of Programming at certain levels. As a Blogger, you may need a base knowledge of HTML and CSS to make specific changes to your website. If not, you’ll have to do with the web design and layout given to you. As a forex trader, you need to learn programming to automate your trading strategy.
  • Forex Trading and Blogging can be done from home. You can blog or trade forex from the comfort of your house.
  • Both Forex and Blogging require huge capital to make huge profits quickly.

Frequently Asked Questions about Forex Trading and Blogging

What is more profitable than forex trading

Blogging can be more profitable than forex trading if you put in the right effort and follow the guidelines.

Is Forex a good Side Hustle

Forex Trading is a good side hustle if you have a winning strategy and can automate it using Algorithmic Trading.

Conclusion

In conclusion, forex trading and blogging are both good ways to make money online. With both, you can work from home and use various other means to make money. However, blogging offers a safer and more assured means to make money online.

References

What is a Forex Currency Trader – CFA Institute

Google Search Technical Requirements – Google Search Center

Decentralized Market – Investopedia

Google Ranking Factors for 2024 – Monster Insights

What is Google Sandbox – ahrefs.com

Zero Sum Game Explained – Price Action Ninja

Creating Helpful, Reliable, People-First Content – Google Search Central

How Long it Takes to be profitable in Forex – PaxForex.com

How Long does it take to make money in Blogging – Productive Blogging

Richest Bloggers in the world and their net-worth – TheInfoWorth.com

Is Blogging still worth it – MasterBlogging.com