CryptopreneurBrainboss (OP)
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July 26, 2019, 09:17:21 PM |
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When it comes to trading especially bitcoin, we all have motivation, something that inspired us to try our very best to profit from every trade. Mine involves trading with borrowed funds. I did notice sudden differences when I'm trading with a capital obtain through loans (borrowed capital) and that of my personal income. Capital gotten from my personal income, tend to keep me in my comfort zone which is something I'm not a fan off. Subconsciously i tell myself, "No worries if the trade don't go as planned, I'll result to hodling". But when it involves a loan capital the energy in me is always different.
Few weeks/months back before the very first bitcoin price spike that lead to $10,000+ per bitcoin, I did picked interest in trading once again since the market was on a standby (no major downward or upward price movement). I needed capital so I did apply for loan on lending board (which was successful). After I have gotten my capital, I began trading, my initial target was bi-weekly trades, and my first attempt was very successful, second wasn't that great but... To cut the whole story short, I notice i tend to do quite well with borrowed capital when trading then personal capital.
For the traders here, have you tried trading with both source of capital, which is your favorite and will be your advisable source of capital based on experience?.
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Oilacris
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July 26, 2019, 09:47:27 PM |
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For the traders here, have you tried trading with both source of capital, which is your favorite and will be your advisable source of capital based on experience?.
The difference here is that you got motivated when you do make use of borrowed funds since you do know that you do need to repay it that's why you do make the best of your trades. Unlike into your own earned money where you do just confidently trade without hesitance yet you know that you do still have the 2nd option which is to hold where this thing isn't applicable if you do gonna need to repay some debts since you would need some profit in a matter of time yet you do have a due date.
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Upgrade00
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July 26, 2019, 10:10:03 PM |
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I would much rather trade with personal funds, which I can assume u borrowed from my other sources of income. I'm new in trading so I would need lots of practice and anticipate losses along the way. I would love to build my skill and capital, so my trading becomes self sufficient, and I can comfortably trade using profits from previous successful ones.
I can see how borrowed capital would be an extra motivation for you, I think not everyone works well under pressure.
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Ahiaba
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July 26, 2019, 10:25:57 PM |
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Everyone has his or her own methods that works for him or her when it comes to trading crypto currency and the source of ones capital do have effect on ones trading result or attitude. I do prefer using my hard earn capital in trading crypto currency as that usually gives me confidence in case anything bad happen to my capital as compared to making use of loan for trading will put me under pressure and I really need not to be under pressure while trading crypto currency.
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omonuyak
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July 27, 2019, 07:48:56 AM |
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The source of capital for trading is not much important to me. What I consider more important is if I have the ability to make money from trading. If I am sure I can make money from the market I don't care using my salary or even taking loans from Bank to fund my trading account which I know many people do that. It all gets down to how skillful you are and the confidence you have in your trading strategy.
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kidoseagle0312
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July 27, 2019, 09:03:21 AM |
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Literally as a traders we must have fund for us to make an actual trade, right? I think it doesn't matter, because as long as you are capable to do an actual trade in the market and able to make money in it, for sure you can do trade anytime you like.
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CryptoInsights
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July 27, 2019, 11:18:26 AM |
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I have bought my funds from my salary and few of my savings. But, whenever I face losses I remind myself that I should now take off my savings for trading. I think this a very subjective thing. It completely depends on individuals skills and capacity.
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joniboini
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July 27, 2019, 11:22:59 AM |
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I wouldn't recommend any person to trade using money from loans unless of course, they can pay it back even if they got no profits. That's very risky to do so, and I believe the cons outweigh the benefits. You should have a clear goal when you trade and try to discipline yourself with that goal in mind. Holding should never be the goal if you're trading because that's for investing in a long term imo. If you're trading, whether it's swing trading or day trading, you should always aim for profits and tolerance of loss up to some point, and never resort to holding when you fail.
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justdimin
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July 28, 2019, 06:34:07 AM |
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This could be the worst suggestion I have ever seen regarding finance. You suppose having loan and having to face the problem of "if I can't make money I will not be able to pay my loan" as a good thing? That will give you motivation but motivation will not help you in a bear market or it will not help you if your money gets hacked or anything other than these two that could potentially happen.
Loans are the worst things you can get unless you are absolutely sure you will make more thanks to it, not just in crypto but in general that if you are getting a loan that means you should be absolutely certain it would be beneficial to you, if you are going to spend it on some things I think you will be in big trouble. Hence please do not listen to OP and get a loan just to trade crypto.
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Boriss
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July 28, 2019, 06:46:47 AM |
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Trading with money on a loan is very risky move and could end badly for you so you could end up as a double looser. But all that depends on how big the loan actually is and how wrong your sale or buy order end up to be. You could also end up as a big winner but that kind of situations rarely happens twice in a row so i would call this kind of stuff pure gambling with borrowed money. ![Roll Eyes](https://bitcointalk.org/Smileys/default/rolleyes.gif)
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TheUltraElite
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July 28, 2019, 07:03:18 AM |
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I would never advice someone to take a loan for trading. After all trading is something that needs you to be able to hold that money for a long time, basically to get a proper price to buy bitcoin. Because that entry point is crucial in determining your exit strategy and profit thereafter, you would want to use your own money to trade and not someone else's.
Secondly, do not invest more than what you can lose. I cannot emphasize that enough, because once you have made a mistake and you start to regret it, a vicious cycle of depression and anxiety will start which you will not be able to break unless you have faith and emergency money at hand. These markets are very volatile and unpredictable such that investments should always be made strictly within limited amounts of incoming money.
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maydna
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July 28, 2019, 07:06:41 AM |
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I never use a loan to help me to start trading. I was fortunate that in 2013-2014, I can get a free coin from many faucets website, and I can use that free coins to start trading. In that time, I can earn so many bitcoin and altcoin in few months, and I don't use my own money to start trading. From that, I can slowly to collect so many altcoins for trading and saving more bitcoin until now, and that helps me to continue trading without borrowing money from others. I only think that if I use the money which I borrowed, I will get trouble to pay back the money because I don't have a high-skills in trading and I still getting lose from time to time. I think borrowing money will not a good way for me.
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Janation
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July 28, 2019, 07:27:28 AM |
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Investing and trading is the main source of income for most of the people here, and I think they are trading for a long time now so I think that it is.
I think I would agree that don't take a loan for trading. I did read that one on this thread but also that is a suggestion of my friend in the past. The only reason he said to me is that if I will be loaning money, use it anywhere else and not in trading or investing since you are risking that money and that is not a 100% profit, that is like gambling, of sorts.
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feryjhie
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July 28, 2019, 01:41:04 PM |
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For the traders here, have you tried trading with both source of capital, which is your favorite and will be your advisable source of capital based on experience?.
I never try both of them because all of my trading activities come from my personal income from a bounty or may salary IRL. for me using a borrowed capital, i will never try that because of i afraid if i lose it from trading but if you are skilled enough to trading maybe you can borrow some money that you can cover using your personal income if you lose it on trading.
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Ucy
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July 28, 2019, 06:40:08 PM |
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Well, trading with borrowed money would probably work if the borrower can afford to pay back. If the borrower can't afford the borrowed funds, he will be under extreme pressure and may end up making rash decisions during trading.
It's just not advisable for people who cannot afford their loans to trade with them. If the market makes a deep dive and stabilize at the bottom, it going to be big problem for those trading with borrowed funds they can't afford to pay back.
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exstasie
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July 28, 2019, 06:58:59 PM |
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Few weeks/months back before the very first bitcoin price spike that lead to $10,000+ per bitcoin, I did picked interest in trading once again since the market was on a standby (no major downward or upward price movement). I needed capital so I did apply for loan on lending board (which was successful). After I have gotten my capital, I began trading, my initial target was bi-weekly trades, and my first attempt was very successful, second wasn't that great but... To cut the whole story short, I notice i tend to do quite well with borrowed capital when trading then personal capital.
For the traders here, have you tried trading with both source of capital, which is your favorite and will be your advisable source of capital based on experience?.
Trading on borrowed capital sounds difficult psychologically and might make me too risk averse. Whatever works for you though, as long as you have a way to repay the loan if you lose the principal. For some people, trading with lent capital might provide the pressure/incentive needed to avoid trading recklessly. Maybe. I only like trading my own capital. I've been staked by investors before (PAMM) but it's not really my thing either. My capital, my risk, my profits.
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Bitcoin_Arena
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July 28, 2019, 07:52:56 PM |
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Rather than use borrowed funds as a source of motivation, i think setting daily, weekly and monthly targets is much better whilst using personal capital. Whenever i do not achieve my daily or weekly targets, i try to work harder the next week to achieve what i lost in the previous week. This method works for me.
What helps me is that i take small profits daily rather than wait for a 20-30% profit. It helps me project the profit a such achieve over a given period and i try to work toward that goal. It's not an easy thing to do but you have to look for something that motivates you, perhaps your dream house, ride etc.
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leowonderful
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July 28, 2019, 08:58:18 PM |
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I've only ever traded my own capital as well; I did try to trade on borrowed funds a long time back and it just didn't work out too well because I was under extreme pressure to make good trades and I ended up folding under the pressure. For that reason alone I would suggest just saving a bit of money every week or so and putting it aside for trading if you're able to do that.
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CryptopreneurBrainboss (OP)
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July 29, 2019, 03:24:46 PM |
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IMO trading in the volatile market with borrowed money is not correct.
Don't think, "Not correct" is the right word to use. The idea of using borrow fund motivates me although I don't take loans i can't afford to payback. The whole idea behind the loan is, it puts me under pressure and I do quite well under pressure then I do when I'm in my comfort zone, in this case my personally funds. Like I said the whole idea of personal funds give me the impression I got nothing to lose as I'll just result to hodling the bought coins if the trade doesn't go as I planned.
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Ridwan Fauzi
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July 29, 2019, 03:55:29 PM |
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I use my own capital to start trading, actually I'm not a day trader I only try to trade when I guess the market is suitable for me (from my knowledge) to trade such as when bitcoin price continue to increase from $5000 to $13500, I took money from my holding especially from my investment in altcoin and I made it to trade in altcoin and the result was I got a good profit at that time. In other hand, I never tried to borrow money especially in form of bitcoin. I just affraid when I can't pay on time my account will be the target and actually I won't have a comfortable feeling when I trade.
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