Is forex trading worth the time?

Hi everybody. Hope you are all doing fine and succeeding at making money. I needed to discuss something critical about my life and i think only the people on this site can help me with it. I am basically a undergrad medical student and i am also interested in forex trading. But since everyone knows that medical students have to study alot and have to spends hours and hours with 10 lbs medical books so i do that too and to study forex i have to take precious time out of my schedule. So i wanted to know if its really worth it. Im still not going to make a career as a trader because i love being a doctor but the money isn’t good. It will be years before i am going to make serious money as a doctor but i took up studying forex so that until i start making good money as a surgeon i can have a good income. Im not expecting to make millions in forex but still atleast a thousand bucks a week would be good for me. So, is forex trading really worth the time im putting in it?

you first have to define the word “worth”.

It means different things to different people. For some, its all about the money. The other extreme could be about beating the “system”.

Finally if its money then the question should be how much is a pip worth?

Would we say a pip = 0.10 cents worth the time?

What about a year down the lane where 1 pip = USD 20.00. Is it worth an individuals time?

When it gets to say 1 pip = 200 USD ?? What now??

As I said, it all depends.

P/S what might be overbought or oversold to some might just be the signal to enter for the others. It all depends.

[I]If all surgeons and pilots were like traders, almost 95% of earth inhabitants would be dead.[/I]

You as a future doctor are aware of the danger of being a bad surgeon because the danger is clear and present. Being a bad trader in certain way have an analogy with a bad surgeon. The difference is that you probably will not kill your first patient but you will blow up your first account.

I am an electric engineer and i’ve worked in an hospital before working at the electric company. Back to the days in the hospital i was at the medical equipment maintenance unit and it was right next to the hospitals morgue and every day new “pacages” arived. First it was awful then one gets used to it. After a while i had to attend to a surgery at the surgery room, supervissor was not there and so i had to be there just in case, there is always somebody in case the aparats fails. I guess it was a stomach surgery, never asked, we never asked questions, but at the begining i was afraid to take a look but after feeling a fight or fly response in my wholeself (just when a skydiver jumps for the first time) i’ve decided to just look and so i did, guess what, nothing happened, of course it was shocking for a few seconds but it is not like watching on tv, when you watch a surgery on tv you wanna puke but when you finally are in front of and wide opened body you just adapt to it. Where i am trying to go with this, well, being a trader takes time as it takes time to being a surgeon and if you are sensitive to blood and live moving organs you will suck as a surgeon and the same way you are loss sensitive you will suck as a trader. Trading is not about winning, is about not lossing, profits are a secondary thing.

If you don’t have time to be at the pc everyday, don’t worry, you can try carry trade or some other long term strategy. As long as you learn risk management and how to put stop loss properly, you will sleep well because you will not lose your entire acc, just a small fraction of it. Remember, get used to small loses as you will get used to blood.

Regards.

It seems like your asking more so if forex can help pay for your school and such so that you don’t need a 9 to 5 or some weird job to sustain yourself am I correct?

Yes, you need another source of cash. Take forex as your retirement plan. As you prctice add little funds time to time, something like 50 usd per month. For living you need at least 20k dolars in your account.

Regards.

SidB,

It really does worth the time.

Speaking for myself, there is no perfect recipe. I do work a full time job. I do trade outside my 9h to 5h job.

There is always something to learn in trading. But once your setup and the daily routine is set, it does cut down the time you need to spend in order to analyse your charts.

Bare in mind something. There is always a session that open or close. So no matter where you are in the world, I am sure you can catch some good opportunity. (London, NY or Asian session) All this without the need of staying awake all night.

I would says, finish your surgeon degree. When you have spare time, start reading on trading. Paper trade. Work as a surgeon and then start trading as hobby or sideline !!!

This post reminds me my last vacation. My daughter was sick and we when to a clinic in Orlando. The doctor had a trading setup directly in his office !!!

Oh dam, tell me one thing, this doctor was not newbie trader qulity like, doesn’t he? Jesus.

Regards.

Heh Gone, the last two posts had the utmost respect from me. They were truthful, funny, and informative.

The man who taught me was a pharmacist, I only got a brief lesson from my dad’s friend but it was enough to trickle my interest. He had charts setup directly from his office he didn’t really need the money but he was playing with it as a passive interest. I don’t work a 9 to 5 but am usually gone for more than weeks at a time so therefore if I had good trade setups in the mean time I wouldn’t have to touch I would be secure and make money two ways.

No. I do not think he was a Newbie. But he did told me something… Discipline, Discipline & Discipline…

Regards,

I do like my actual job and i do like my trading. Sometimes i just wanna get of that job but i have to come back to earth i won’t find another job just like that and my fx acc will not put bread upon my bare hands for the moment. So as in trading there is some bad moments that i just have the ability to move on, in my carrer i must do the same, it is a temporary thing, when it is emotional the final result is bad. All emotions are bad, at least for trading, happines included.

Regads.

I like your comment, you totally spoke my language and believe me dude surgeries aren’t that bad haha. Thanks for the support.

Yeah more or less you are correct

well that’s neat. So i am thinking of looking into trading gradually and slowly.

There are three types of traders bulls, bears an pigs. Bulls get rich, Bears get rich, Pigs get slaugthered.

Pigs are the ones to try to get any trade any moment. They have a lot of trades but a few earns.

Regards.

Sidb Only you can answer this qustion. It all boils down to these questions. How much is you time worth? How much do you have to invest in Forex? Can you realistically make what you need your time to be worth trading forex with the capital you have to invest? If you can answer those questions and the last question will be either yes or no and thats you final answer. Trading is not for everyone if you have to make Forex fit your lifestyle then you are probably not going to make it. But you have to remember 1 thing it dont take alot of time to make a living on forex you dont have to look at charts till your eyeballs bleed. Less can truly be more. Good luck on your way to becoming a trader and a doctor.

I would say it’s only worth the time if you do enjoy it. Otherwise it’s better to do long-term investments.

Very interesting question, cause there are lots of different opinions. I’ve heared that forex is scum and you can only lose money here, and other people said that it’s a perfect variant to those who want to make money and work when they want.
I trade for some time and like it. Hope, losses won’t upset me very much. It’s naturally that where are wins, there are losses too. Hope, I’ll be ready for that (now I haven’t lost much money) and I won’t regret about the time spent of forex

Hello SidB! I respect your profession! No doubt, you are very smart guy! In addition, you may know Forex trading business is open for part time traders! But, you are seeking money, that’s not good sign for a new trader! You have to spend here enough sessions to learn, then you may able to make handsome money within very short time, best of luck!

Almost trader treat forex as part time business, and we can making money from forex as additional income, but I have seen also many trader they treat forex as full time business and they can making good money from this business because already understand how to making money here

I’m sure I’m not the only one benefitting from the profundity of all these insights, which really add a certain je ne sais quoi to making the forum what it is.

It sure is but only if you are improving with the passage of time. If you are only hoping that one day you will generate a huge profit and after that you will start “proper” trading, then you are only wasting your time.

I really need to make a habit of checking when the initial question was posted before trying to answer.
It’s been five years since this question was posted, I wonder what happened.