yupi84crypto (OP)
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February 28, 2020, 03:19:01 AM |
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I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum, whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion safe as long as we can make a profit and smoothly repay loan installments to the bank.
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samcrypto
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February 28, 2020, 03:42:23 AM |
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This is a risky move but it can be more profitable since your friend already have a good skills in trading. Its ok to have a small capital as long us its not came from any debt, and you cannot force your friend to borrow money because he knows what he is doing. If I do have a great skills in trading, I will use my savings as my capital and no need for me to borrow money and pay the interest.
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xvids
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February 28, 2020, 04:01:55 AM |
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I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum, whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion safe as long as we can make a profit and smoothly repay loan installments to the bank.
Your friend is right it is risky and if I was on his/her position I would also do the same thing. Your friend is already making money from his/her skill and we don't need to be greedy it is safer to use what you could afford to lose rather than taking a loan to risk.
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maydna
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February 28, 2020, 04:20:34 AM |
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Even if you have good skills in trading, it is not recommended to borrow money from the bank because we don't know if we can always make a profit from trading. Your friend has skills, and he can manage the risk by using under $500 to trade, I think he knows what he did, and he always tries to control himself in trading. He has a good responsibility for his money, so he doesn't have to risk more money than he can afford. in my opinion safe as long as we can make a profit and smoothly repay loan installments to the bank.
We never know what will happen in the future, and I think it is better we know who ourselves so we can have control for ourselves, which will help us to be wise in making a decision.
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Kemarit
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February 28, 2020, 04:39:47 AM |
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There is a big risk involved, and besides, even though your friend is good at trading, we really don't know what's going to happen in the future, so it still 50/50, depending on your risk appetite.
I know someone who borrowed money from a bank to buy Bitcoin in December 2018, when the price is around $3000. Right now we can say that it was a bold move, he just hold on it and I think did sold some around June 2019 when the price hit $13000 and repaid the loan. Well that is one success story, but what if the market goes down up to this point?
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KrisAlex18
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February 28, 2020, 04:44:11 AM |
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Yes, because if we have a great ability in trading, for sure, we will earn from it. There are no bad things about trading because it keeps the significant circulation of different currencies around the world. It is easy to be a good trader. You will just be going to do some research. You should have full knowledge of cryptocurrencies, so you will be able to know and observe the volatility of different currencies. The higher the amount of you will going to trade, then for sure, the higher the profit you will have if you have successful trading currencies. This is really similar in investing, you will not be sure if you will win it, but I am sure that if you have an ability in this aspect, then you might earn so much money. This is a risky move but it can be more profitable since your friend already have a good skills in trading. Its ok to have a small capital as long us its not came from any debt, and you cannot force your friend to borrow money because he knows what he is doing. If I do have a great skills in trading, I will use my savings as my capital and no need for me to borrow money and pay the interest.
Well said, investing and trading are both risk-taking because you are not sure you will earn from this, you may win, and you may lose. So the higher the amount then, the higher the risk, so having excellent skills on it will be a significant advantage for you; keep having that ability so you will continue earning so much currency.
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CryptopreneurBrainboss
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February 28, 2020, 05:19:18 AM |
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I want the opinion of you members of this forum, whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion safe as long as we can make a profit and smoothly repay loan installments to the bank.
Although I haven't invested such amount into trading at ones but still didn't see anything wrong with taking that bold step in bettering your life. When trading, capital has an important role to play. If you're good in trading then capitalizing on is very vital, getting a loan is putting yourself under pressure so if your friend is the type that can do well under pressure without panicking then he should go head. The common saying, don't invest more than you can lose is important but in life those who're willing to risk it more are usually those who profit more just as they lose more incase their decision doesn't favor them.
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Ucy
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February 28, 2020, 07:47:27 AM |
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I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum, whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion safe as long as we can make a profit and smoothly repay loan installments to the bank.
Your friend did the right thing. Better not to trade in fear. If he is very confident in his skills, he will likely give the loan thing a try (still not a good idea to trade with borrowed money). But it seems he isn't too sure of himself... so, don't press him further. However, if your friend could risk using collateral for the loan, that will probably be better.
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exstasie
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February 28, 2020, 08:18:18 AM |
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I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from the bank as trading capital, but he refused with the reason too risky and insecure. Nobody should be taking loans out to trade with. What happens if he screws up and blows up his account? Increasing capital and risk by 10x, especially with borrowed money will have a drastic (probably negative) effect on trading psychology. I doubt he would keep performing so well. That's a recipe for emotional trading. If he wants to try trading with other people's money and taking a cut of their profits, he may be able to open a PAMM account at a crypto CFD broker. Not my area of expertise but I'm pretty sure they're out there.
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GreatArkansas
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February 28, 2020, 08:34:44 AM |
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It's also like you are doing gambling if you use to trade the funds from loans. But I know there are a lot of people out there that they are using some loan money but still, the RISK is still there. Even how good or skillful you are on trading, you can still say that you will win every trades. Make sure you have backup or plan B if ever your loan will get rekt in trading.
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Slow death
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February 28, 2020, 08:40:13 AM |
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never do that
it doesn't matter if you are the biggest trade in the world or not, but never borrow from the bank to make a trade. Look at the following:
1 - you make a loan at the bank and the bank gives you that loan, but to pay in 3 or 5 years, that means that every month you will have to pay the loan
2 - you start trading, however you will never make a profit every consecutive day without having losses
3 - The market suddenly drops in price, which means that even if you put Stop - Loss you will have some loss
4 - if you get sick you won't be able to trade and that means lost days
5 - there will come a time when you will start to trade under pressure because you have to pay part of the loan at the end of the month, apart from that you will also have other bills to pay
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ice098
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February 28, 2020, 09:37:20 AM |
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This is a risky move but it can be more profitable since your friend already have a good skills in trading. Its ok to have a small capital as long us its not came from any debt, and you cannot force your friend to borrow money because he knows what he is doing. If I do have a great skills in trading, I will use my savings as my capital and no need for me to borrow money and pay the interest.
I wouldn't recommend this for begginers who seeks an opportunity with trading unknowingly, because without any proper knowledge is possibly bringing them to much worst problem. For those who come up with a strong foundation, I guess that's their last option to use banking loans but it should be done with focused trading approach before trading profit will become the source of funds that can be used for family needs and other expenses.
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ultrloa
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February 28, 2020, 10:01:48 AM |
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I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum, whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion safe as long as we can make a profit and smoothly repay loan installments to the bank.
Even if you have a great ability on tradings still its not a good ground for you to get a loan in bank for capital since we still doesn't know on how the scenario came in the future and if the market will not come to our side for sure you will be left empty handed and broke. So better trade a amount what you have that you can afford to lose and remember to secure profit always to win on the trade.
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dunfida
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February 28, 2020, 01:20:33 PM |
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I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum, whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion safe as long as we can make a profit and smoothly repay loan installments to the bank.
I actually agree into your friends insight towards bank loan on using it on his trading to expand out lot sizes.Its possible but would really be still like a gamble knowing that trading doesnt guaranteed out profits on daily basis which there are times that losses is inevitable but if a certain trader can handle it out on making profits on greater chances then it might be worthy to try it out. In my case if im that good then i might consider on getting a loan but wont really be that big so that it wont be hard to repay.Just get the amount that you can actually pay even the market wont be good into you.
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Dart18
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February 28, 2020, 02:00:41 PM |
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I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum, whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion safe as long as we can make a profit and smoothly repay loan installments to the bank.
If there is a chance to take it by cash then do it. Do not directly buy bitcoin or any altcoin using banks. You are just going to mess it up if you want out. Loan then pay with your profits. But there is also one thing to consider. Does your friend who is profiting from under $500 can manage large amounts? Have he tried it? Is there a possibility that now he may lose because of the tension of the bigger amount in stake?
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el kaka22
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February 28, 2020, 02:59:29 PM |
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How did you not see that it is too risky? I mean it is quite obvious and looking at you right in the face and you deemed him "insecure" instead of yourself too crazy to do something like that? If you are having so much hard time to not even understand why bank loans are not the way you should be trading there are thousands here that can explain to you why it is a bad idea but you probably already know it don't you?
I mean you know what a loan is, you know you will have to pay it back, you know that there is always a chance your friend may end up losing money and not be able to pay the bank back as well, there is no way you don't know any of this you know them but you still want to take that "risk" because you think you may be on the winning side. We all just say "what if you are not".
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Oceat
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February 28, 2020, 05:15:27 PM |
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If someone can do just like how your friend does then it is not a problem to loan out some cash from the bank but remember that it is still risky even though if someone can make a money from trading. It doesn't mean if you are good at trading you won't fail as a trader, the best advice is to not use any borrowed money to trade or gamble, always minimize the risk of losing money to avoid some troubles if you aren't confident with your trading skills.
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bitbunnny
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February 28, 2020, 05:29:11 PM |
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No matter the high skills, experience and self confidence there is always a risk in trading and there is no guarantee of profit. First rule of any investment so of cryptocurrencies investment too is to invest the extra funds that you don't need and not the funds that you don't have. Therefor I wouldn't suggest that you use bank loan for trading and investing because there is always a risk that you will don't make enough profit to cover the loan so you might find yourself in problems.
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DoublerHunter
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February 28, 2020, 06:04:39 PM |
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There was already someone who came up with this idea. Same Idea, different terminologies used. That guy sounds like a professional trader though, in trading, having a big or small capital does not really matter. When you are good, you are good. Having a big capital from anywhere but is a lack of skills in trading will make you end up being broke. Remember that thing. But as a trader with character and skills, starting small is never a sad thing. You can always make your small stuff big when you have the skills. Nevertheless, simple but easy to comprehend.
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February 28, 2020, 06:27:04 PM |
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I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from the bank as trading capital, but he refused with the reason too risky and insecure Your buddy does everything right And anybody in your place should refrain from recommending such things. If he follows your advice through and fails, losing the borrowed funds while still having to pay the debt, you will be to blame, and rightfully so. Apart from that, trading with one's own money is not the same as with the borrowed funds (read, someone else's money), while trading with 500 dollars is not the same as trading with 10x as much
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