One Response to “I don't think any professional or amateur hold currency for a month in Forex?”

1. Paul U says:

   September 2, 2010 at 2:17 pm

   There are certainly those of us that hold our Forex currency positions for well over a month. For example, one of my accounts I opened on 9/15/2006 with $10K. I bought the EUR/USD at 1.2709 and the USD/CHF at 1.2559.

   I have not messed with the account at all and I simply glance at it once or twice a week. I get paid a daily interest of $7.51.

   Today the EUR/USD is at 1.3289 (I am up $14906) the USD/CHF is at 1.2130 (I am down $11777) and I have earned $1389 of interest. My total profit is $4519.

   So I have made 45.2% profit in 185 days by simply holding my position. I have no plans to touch it any time soon.

   So you are half right…amateurs do not hold currency for a month. However, professionals do all the time. George Soros does. Warren Buffett does. Heck, in 2005 Chrysler made more money holding Forex for long terms than they did selling cars .

   The problem with Forex is that everyone is looking at it as a way to make quick big gains. Most people lose their money in Forex by being to agressive and taking way too much risk. The smart Forex money is in steady, conservative, consistent long term investment strategies.

   You do not need to pay for expensive software and signal services. You do not need to give up sleep to stare at charts all day and night. My clients sleep very well.

   I am sorry for the long answer but your question is a great one that more people should ask. Good luck with your investments.

   Let me know if you need any help. I would be happy to send you some more information.

   Paul
   (925) 236-1839
   pupp52@yahoo.com