Should I move my money?

[labrokejames]

I'll try to make this brief:

I'm going to begin swing trading the FOREX within the next 6-8 months.
I need about $8000-$10,000 to get going.
I have almost $3,000 in stocks right now.
I DO NOT have access to that money unless I cash out.


My question: Should I leave that money invested (and keep investing) giving it a chance to grow or should I cash out and move it to a money market account to avoid future losses?

My plan is to use that as my trade money next year, but if I stay in the market I risk losing some of that capital.

I'm 50/50 on this one

 

[tmonster]

I'd buy
Omeros below 14
dej below 26

 

[Domingo Halliburton]

I can tell you this, you're more than likely going to lose money on forex

 

[Futuristic Eskimo]

Why would you trade FX? You're not going to beat algorithm traders. At least with equities, everything goes up over time.

 

[wheywhey]

This is just my personal opinion so feel free to ignore.

You don't have enough money to be investing. You should focus on paying off all of your debts besides the mortgage. That means paying off credit cards, automobiles, and student loans. When you don't have debts you have a steady flow of money that can be invested.

Next steps:
-Savings in money market account of around $5000 to be used for the unexpected. Increase the amount accordingly if you are saving for a vacation, car, or house.
-Fund 401K to the employer match.
-Fund IRA to the max.

Then:
-Fund a separate forex IRA for two years. It will be separate from your basic IRA. You will have to stop funding your basic IRA for two years and instead put the funds in the forex IRA. You will be able to contribute $5,500 each year for a total of $11,000.
-A forex IRA will eliminate taxes (eliminates write-offs too). It will also prevent your from losing your shirt since you won't be able to lose more than $11,000.

Finally:
-If you still have money to invest, purchase mutual funds in a taxable account. To keep taxes low purchase a tax-managed fund or a low-turnover fund like the S&P 500 or Total Stockmarket.

 

[Meta Reign]

Bro, forex is for degenerate gamblers.

 

[tmonster]

I'd buy
Omeros below 14
dej below 26

 

[Serious]

so did you sell dej in the summer?

If so then you're

 

[tmonster]

so did you sell dej in the summer?

If so then you're

nope
I am holding DEJ for a long ride
holla at me in 6 months

 

[ill]

You should move your money into my bank account. It will look great there