Every month, I will have about $180 of risk capital. I have three options on what to do with the money:
- Put them in a savings account with a pathetic annual return.
- Invest them in funds. Variable risk/return and really long term 5y+ to see good returns.
- Put them in my Forex account to increase my risk/reward $values on my trades.
Assuming I trade profitably, the last option will give me the best possible returns for my money right?
Regardless of profitability it also gives me complete control and responsibility for my own money.
In the near future, I might be given a lump sum of risk capital, which could be anywhere from $10 to $8.000. I have the same options with this money, with the additional possibility to use it as a down payment on my students loan. The loan is really great with a less than 3% interest the next 3 years.
Additionally, every month I make regular down payments to my loan and I also invest about $90 in a retirement fund.
Answers I am expecting to this:
"Learn to trade profitably with practice accounts before considering using real money."
No thank you. I have played poker for several years. Poker and Forex trading shares a lot of the same
psychology and require largely the same mindset. So it is my firm belief that you will never become a poker pro playing with play-money, and you will never learn to trade Forex with a practice account. (I see the value of using practice accounts for testing grounds for new strategies.)
"It does not matter how much you start out with, if you are profitable, the end result is going to be the same."
Example: If my end result is financial independence, will I not reach it faster by capitalizing on my given opportunities?
What do you think? Let's discuss!
Source: http://forums.babypips.com/newbie-island/41363-investing-your-own-portfolio.html
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