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Can you trade forex to earn money to buy an apartment?

  • #21
  • Aug 7, 2016 12:13pm Aug 7, 2016 12:13pm
Quoting Collosus
The Fool, excuse me but could you name me the territories in USA where it is cheap to rent or buy a house and maybe I' ll think about changing my living location. When I was I New York last time I was told that rent of apartment is about $3000 per month in Manhattan. I do not say that it spreads on all Americas cities and towns but..
http://www.craigslist.org/about/sites

http://www.zillow.com/home-values/

use Craigslist or Zillow to research property prices anywhere in the US.

Sure, real estate is very expensive in most large cities, especially major cities that are the centers of particular industries. Prices are lower outside those cities, though. Generally, the cheaper real estate can be found in the southeast and midwest.

I live in a small city within 50 miles of Seattle. Real estate is very pricey in Seattle, but you can live in a smaller city not too far from Seattle where the home prices are >50% less. You don't have to live in a big city. Many people don't want to, knowing that quality of life is better in many ways in smaller cities and towns.

The premise here is that you are trading for yourself and you can live anywhere you like so long as you have a reliable internet connection.
"If The Fool persists in his Folly he will become wise." - William Blake
  • #22
  • Aug 7, 2016 12:22pm Aug 7, 2016 12:22pm
there's still many BS policys I didn't metion.Anyway I am thinking to immigrate.Green Card.Still young,more choices.
Quoting DoomTrader
{quote} Why you need to buy in cash, Either rent or take Bank Loan
  • #23
  • Aug 7, 2016 12:48pm Aug 7, 2016 12:48pm
Quoting leescofield
China major city house price likes rocket.nearly 5000USD-10000USD per square in my living city. What house price in your country？Many people can buy a house？ Shenzhen my living city 1953 KM2 now is more than 2000 Millions people,push the house price higher and higher.' And the building higher and higher,you have to pay more than 500000USD to buy a small house. What's the stituation in your country? Can you trade to buy a department?Does living in your coutry will have such burden？ {image}
If this is a serious question I should warn you that if you are undercapitalised then you are likely to lose all of your money trading forex. This is not the way to buy property.

It is frustrating watching house prices accelerate faster than your income. The answer to the problem is to live well within your means, so that you can make regular savings. A bank or home loan company may be impressed by your ability to save and therefore your ability to pay off any future loan. In the meantime increase your skills and value in the workplace so that your income is secure and increases. These are the valid life goals that you should have.

On the other hand, forex should be considered as a high risk speculation for people with spare capital and/or income. Even the best traders would be pleased with a 10% guaranteed year on year accumulation, although, of course, it is possible to do much better, or much worse than this.
Gone to a better place
  • #24
  • Aug 7, 2016 12:59pm Aug 7, 2016 12:59pm
Quoting smikester
If this is a serious question I should warn you that if you are undercapitalised then you are likely to lose all of your money trading forex.
Kudos, mate.....
"If The Fool persists in his Folly he will become wise." - William Blake
  • #25
  • Aug 7, 2016 4:43pm Aug 7, 2016 4:43pm
I am also from China and I am a begginer in forex. May be it's real to make big money here but for me it's not the way to earn money to buy an apartment. it's rather risky bussiness and I think it's better to have stable job and stable income. but I know that there are a lot of people that are rather succsessfull in trading.. in any case if you want to trade to earn for apartment, I think it's not the best idea..
  • #26
  • Aug 13, 2016 4:11pm Aug 13, 2016 4:11pm
Quoting leescofield
China major city house price likes rocket.nearly 5000USD-10000USD per square in my living city. What house price in your country？Many people can buy a house？ Shenzhen my living city 1953 KM2 now is more than 2000 Millions people,push the house price higher and higher.' And the building higher and higher,you have to pay more than 500000USD to buy a small house. What's the stituation in your country? Can you trade to buy a department?Does living in your coutry will have such burden？ {image}
no joke? god, whats happening to the world.
  • #27
  • Aug 13, 2016 4:25pm Aug 13, 2016 4:25pm
Maybe someday
If you like my post throw me a Doge: D9eyP5TFYGDaN1JpjyU4jaU9ypg2wUk8Zp
  • #28
  • Aug 15, 2016 1:20pm Aug 15, 2016 1:20pm
Yes, that’s the good question. Actually it is very important and interesting to know what is usual average rate on the mortgage in your country? In Australia you can take out a mortgage with 4% and Canada it is abiut that but in Czech I heard it is about 8%, while in Russia for example it is up to 15% so people can not afford that type of credit. What is the situation in China? Near to what?
  • #29
  • Aug 15, 2016 2:38pm Aug 15, 2016 2:38pm
Quoting Collosus
Yes, thats the good question. Actually it is very important and interesting to know what is usual average rate on the mortgage in your country? In Australia you can take out a mortgage with 4% and Canada it is abiut that but in Czech I heard it is about 8%, while in Russia for example it is up to 15% so people can not afford that type of credit. What is the situation in China? Near to what?
Here in the Czech rep the rate for 3y fix mortgage is 1.5 %- 3.5%.
  • #30
  • Aug 15, 2016 2:54pm Aug 15, 2016 2:54pm
Quoting Noorx
{quote} no joke? god, whats happening to the world.
without jokes. Something crazy is happening...)
  • #31
  • Aug 15, 2016 11:20pm Aug 15, 2016 11:20pm
Quoting ChaoSi
{quote} without jokes. Something crazy is happening...)
Like, China's economy is bad enough to have such prices. Explains why most people there have a lot of debt there.
  • #32
  • Aug 16, 2016 12:38am Aug 16, 2016 12:38am
Can you trade forex to earn money to buy an apartment?

No, you cannot. Instead of chasing fantasies, you should get a good education and find a good steady job - one that pays a real paycheck ( not forex pipe-dreams).

Sorry, I know that's probably not what you wanted to hear, but it is the truth. Forex is chasing a fantasy, a delusion. You know who makes money in forex? BROKERS - they make money, not their clients.
  • #33
  • Aug 16, 2016 1:24am Aug 16, 2016 1:24am
Quoting gravitist
Can you trade forex to earn money to buy an apartment? No, you cannot. Instead of chasing fantasies, you should get a good education and find a good steady job - one that pays a real paycheck ( not forex pipe-dreams). Sorry, I know that's probably not what you wanted to hear, but it is the truth. Forex is chasing a fantasy, a delusion. You know who makes money in forex? BROKERS - they make money, not their clients.
Not a necessity. Even though I haven't tried a withdrawal yet, I know a few traders who did and are on this forum.
  • #34
  • Aug 16, 2016 1:58am Aug 16, 2016 1:58am
Noorx,

Anybody can make a profitable trade occasionally. I've done it and I've withdrawn profits from my account. But that's a far cry from earning a living from forex.
That's the pipe-dream. The point I was making isn't earth-shattering , but it bears repeating: get a degree and find a REAL job, one that actually pays the bills.

"I know a few traders who did and are on this forum."

With all due respect, no, you don't. Retail traders lose money in the long-run. You know people who claim they make money - but they don't post their account statements, don't post trade explorer results, don't provide any proof whatsoever of their success. I know why and so do you.
"
  • #35
  • Aug 16, 2016 10:33am Aug 16, 2016 10:33am
Maybe I am going to find a steady job,promote myself then get a master degree.Got some experience to open my own business.haha.

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  • #36
  • Edited 10:51am Aug 16, 2016 10:40am | Edited 10:51am
Quoting Collosus
Yes, thats the good question. Actually it is very important and interesting to know what is usual average rate on the mortgage in your country? In Australia you can take out a mortgage with 4% and Canada it is abiut that but in Czech I heard it is about 8%, while in Russia for example it is up to 15% so people can not afford that type of credit. What is the situation in China? Near to what?
2016 commercial mortgage is 4.9%,Accumulation fund loan interest rates is 3.25%.
2016commercial mortgage
1Y 4.35
1Y-5Y 4.75
>5Y 4.9
　　　
2016Accumulation fund loan<=5Y 2.75
　 >5Y 3.25
  • #37
  • Aug 16, 2016 11:21am Aug 16, 2016 11:21am
gravitist
well I already heard about the brokers who's only earn the money by receiving them from customers, which they output (and sometimes even don’t) on the market plus spreads. But I wonder, you are currently trading or what you are doing in this case in the forum? Your post sounds very dejected by the way
  • #38
  • Aug 16, 2016 12:05pm Aug 16, 2016 12:05pm
Quoting gravitist
Can you trade forex to earn money to buy an apartment? No, you cannot. Instead of chasing fantasies, you should get a good education and find a good steady job - one that pays a real paycheck ( not forex pipe-dreams). Sorry, I know that's probably not what you wanted to hear, but it is the truth. Forex is chasing a fantasy, a delusion. You know who makes money in forex? BROKERS - they make money, not their clients.
it's really not that thing that I would like to hear))) According to different statistiks 1-5% of traders are successfull. May be can buy an apartment or something like that..
  • #39
  • Aug 16, 2016 12:17pm Aug 16, 2016 12:17pm
Quoting Halley
{quote} Here in the Czech rep the rate for 3y fix mortgage is 1.5 %- 3.5%.

Quoting leescofield
{quote} 2016 commercial mortgage is 4.9%,Accumulation fund loan interest rates is 3.25%. 2016commercial mortgage 1Y 4.35 1Y-5Y 4.75 >5Y 4.9
Quoting leescofield
　　　 2016Accumulation fund loan<=5Y 2.75 　 >5Y 3.25

Well it seems that I am totally misguided in my awareness. But there is a different pleasant factor – it seems that you have quite acceptable mortgage interests in your countries. Do you? I think it would be useful if you wrote on average month income in your country
  • #40
  • Edited 3:10pm Aug 16, 2016 2:57pm | Edited 3:10pm
Quoting gravitist
Noorx, Anybody can make a profitable trade occasionally. I've done it and I've withdrawn profits from my account. But that's a far cry from earning a living from forex. That's the pipe-dream. The point I was making isn't earth-shattering , but it bears repeating: get a degree and find a REAL job, one that actually pays the bills. "I know a few traders who did and are on this forum." With all due respect, no, you don't. Retail traders lose money in the long-run. You know people who claim they make money - but they don't post their account statements,...
They do and are successful, and I can link you their Trade Explorer. Plus, I can send you pics of their account withdrawals.

Don't forget, not all people are successful. Not everyone has money to study, open a business, get a degree. Look, no-one said Forex is easy, but it is a profitable job and gets you the things you need IF you know what to do.

By the way, make sure to quote my post to notify me of your post, if possible.
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