Many people believe that Forex traders spend their money on luxury and leisure. And while that is true to some extent, most Forex traders do not fly on private jets. Instead, they look for wise, long-term investments, and not only in Forex.
Forex traders limit their trading time, sometimes only to three to five hours per day if they identify an opportunity to profit. Many traders admit that if they have a short day at 'work', they do like to hit the mall. Plenty of traders deem fashion to be a good investment, especially jewellery and accessories, which often rise in value over time. For example, last year, an “almost albino” crocodile skin, diamond-encrusted Birkin bag was sold at an auction for $185,000. That’s quite something considering you can buy a Birkin bag starting at around $5,000.
If we’re talking about real investments, many traders say that they spend their money on properties around the world. Some are interested in buying properties to live in, while others look at it from a purely business perspective - that is, buy to rent.
Many traders invest money in popular tourist cities, then commission a property management company to look after their property and generate profit for them. Traders agree that real estate is an excellent way of securing investments outside of Forex.
From another business perspective, traders who think about securing their future often invest money in prominent start-ups and stocks. The most successful person to think of when it comes to shares and stocks is George Soros. This man, who became a billionaire from Forex trading, regularly invests in new companies and stocks, thus ensuring that his net worth keeps growing. He invests in technology, healthcare, finance and utilities, among other sectors, and is a true inspiration to all Forex traders who closely monitor his market decisions.
Last but certainly not least, the most obvious way of spending money by Forex traders is opening new trades. For many traders Forex is a primary source of income, so they continuously buy and sell trading instruments.
And you? What do you spend your profit on?