Is it realistic?

[Taro]

I am a person who wants to invest in forex but do want
to do the trading myself. My question is, is it realistic to
invest $50,000. , hire a trader to do the trading, and
expect to be able to make $2000. a month over a long
period of time, safely adding the money to the account?
If it is not realistic, why not? If it is realistic, how does
one go about finding a reliable trader? I have tried
a couple of times, and each time the trader made an
impressive amount of money gradually, being very careful,
but then at a certain point seemed to lose control, very
quickly losing all they had gained, but walking off with a
nice commision from the temporary profit.

[ampris2000]

i would say to just do the trading yourself.
since you're not in a rush you can use the long term charts where you can get a easy 10 pips from.
at 50:1 leverage, you'd only need about 10 pips for 2000 a month.
still spreading out your trades among several pairs instead of putting it on one pair. you could achieve this rather easily yourself.
it wouldn't require alot of time or anything.

[cornellj]

I agree with the previous poster that you trade for yourself after a reasonable time learning and practicing a safe strategy.

If you want to learn this business take the time to trade successfully your winning strategy through 3 cycles of market trends of 1000pips on demo accounts. While you do this read as much as you can about the subject and learn. Make your own observations and analyses and incorporate your findings into your own strategies. The three cycles I mention should take you about 18months. In this time you can become a profficient and profitable trader.

Then start trading your money live.

[Taro]

Sounds like good advice, thanks guys. Is the problem
in working with a trader that it is too small of a plan
to make it worthwhile for a trader, or that it is hard
to find a reliable trader, or something else?

[cornellj]

Originally Posted by Taro

Sounds like good advice, thanks guys. Is the problem
in working with a trader that it is too small of a plan
to make it worthwhile for a trader, or that it is hard
to find a reliable trader, or something else?

Hallo Taro,

I may be able to answer some of your questions. If you contact me on my email at cjooste@hotmail.com I will answer your questions.

[yigal]

Originally Posted by Taro

I am a person who wants to invest in forex but do want
to do the trading myself. My question is, is it realistic to
invest $50,000. , hire a trader to do the trading, and
expect to be able to make $2000. a month over a long
period of time, safely adding the money to the account?
If it is not realistic, why not? If it is realistic, how does
one go about finding a reliable trader? I have tried
a couple of times, and each time the trader made an
impressive amount of money gradually, being very careful,
but then at a certain point seemed to lose control, very
quickly losing all they had gained, but walking off with a
nice commision from the temporary profit.

Look, if there is a trader that can make 4% every month consistently, why on earth the guy would waste his time on you, instead of making descent money himself???
I say, ether trade yourself or do not trade at all.
Give it to the charity or something like that.


Regards.

[ampris2000]

not that it's not worthwhile for the trader, but by what you stated for your income goals and the amount of money you have. 4% per month/ $2000.00 per month can easily be achieved.

if and when you do find a trader, open a power of attorney account. that means the trader makes the trades, but doesn't have access to the money. so if you see the trader is losing money, just change the password or close the account is all.

[bhale]

Very good advise from ampris2000,and be very careful. This kind of post will attract all kinds of "traders" who say they can make you money.