Quote:
Originally Posted by beedubb
I have recently become interested in trading Forex for myself and I'm curious... What is a realistic expectation to have about time invested and returns expected?
I know this could be all over the board, but can you give me some examples of how much time you spend trading and what your returns have been, over a period of years?
Thanks in advance!
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My opinion: Forex trading may be a good addition to an existing portfolio of investments and trading. I wouldn’t plan on making your living solely from forex trading. On an individual basis there can be long “winless streaks” as well as tremendously profitable periods. You may be able to add to your current income; you may lose your investment completely.
You mentioned you are in the real estate and mortgage brokerage business. Certainly, you must be acutely and painfully aware of the cyclical nature of those markets. Just as in real estate and its related industries, trading has cycles of profitability. Money seems to chase sectors and industries that are on the move. Right now, there seems to be a ton of paper coming into retail forex.
My answer to your question is that I spend more than thirty hours each week monitoring various investments and different markets. To be completely accurate, that figure includes time spent doing research, testing trade ideas, and implementing the strategies I choose. Much of that time is spent patiently waiting for the right time to act. Forex is a very small portion of my overall investment strategy; therefore, it represents a small percentage of my overall returns. I choose not to reveal my exact investments or to state figures.
In general, trading itself is about as much fun as watching paint dry – without the benefit of being in a small, fume-filled room.
Best of luck in your trading…
These are just my opinions based on my personal experiences and observations.
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