Oasisman
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July 14, 2020, 11:31:28 PM |
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I don't care what anyone else says, if someone trusts you enough to give you his money to trade, that means either you are good enough that you will trade well and give him the profits while getting your own cut, or you are so bad that he is wrong to trust you with his money. So in both cases, it is responsibility of the person that gives the money, there is no scenario where the person that gets the money is wrong.
I have been in the same scenario, but didn't take the offer. Though the difference is, he (my friend) knows Im terrible at trading, but still trusted me for he believes I will become a better trader while on the process. I can foresee a bad side of trading with the money you didn't own because; 1. You'll become the blame If you lose a big amount of money, regardless of how good your friend is. 2. When you get good profit, he will take a huge cut of the profit to cover the losses you've made. 3. And, that goes on forever while you're tied up with your friends trading capital. But I guess the OP is so confident that he could trade with huge percentage of making profit.
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nelson4lov
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July 14, 2020, 11:54:05 PM |
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~ 1. You'll become the blame If you lose a big amount of money, regardless of how good your friend is.
I've seen several cases of this playing out. I did have a friend who took up such risk after feeling confident that he will be able to beat the odds and enough profits to pay up his friend who loaned it to him. However, things went south and he incurred several losses that reduced the funds a great deal. He got depressed while trying to get money to pay back for the lost funds (He wasn't even focused on himself/his trades just how to get money to pay back). At the end of the day, trading with your own funds with your acknowledged risks brings better peace of mind that trading with someone's funds as things could go wrong since the possibility is there. That said, I want to note that, I've seen people who took similar opportunities like this and did well so it all depends.
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Idrix1
Jr. Member
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Merit: 1
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July 14, 2020, 11:54:56 PM |
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Edit: Just so everyone knows, a close friend of mine has asked me to trade with some of their money. They have witnessed my trading and know that I am profitable. It is NOT a random person as others have suggested on this thread. Either way this does not matter and I would like to keep the discussion on topic.
Trading with either loan or someone's fund is not adviced especially in this volatile crypto market as the trade could go wrong on any possible level, if you are really a great trader, i believe by now you should have enough capital you can use for your own trade instead of trading for others even if they're are the one that approach you with the offer
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Savemore
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July 15, 2020, 12:05:17 AM |
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For me it is okay to use someone else funds especially for those traders who doesn't have enough capital to start trading but the risks are too high especially if you are just starting out. Using someone else funds are okay just make sure that you have prior experience in terms of managing money and also trading cryptocurrencies at least 6 months. But if you still insists to borrow someone else funds then do it just be sure that you should be prepared to experience huge losses or even portfolio wipeout.
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abel1337
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Enterapp Pre-Sale Live - bit.ly/3UrMCWI
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July 15, 2020, 12:09:55 AM |
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Edit: Just so everyone knows, a close friend of mine has asked me to trade with some of their money. They have witnessed my trading and know that I am profitable. It is NOT a random person as others have suggested on this thread. Either way this does not matter and I would like to keep the discussion on topic.
Trading with either loan or someone's fund is not adviced especially in this volatile crypto market as the trade could go wrong on any possible level, if you are really a great trader, i believe by now you should have enough capital you can use for your own trade instead of trading for others even if they're are the one that approach you with the offer This is absolutely true, Using other's money for the risk of trading is not an efficient move since you are being pressured by yourself because you cannot lose the trading activity that you are making, The pressure can possibly make us trade uncomfortably that adds to the chance of losing. If you have the confidence to consider trading other people's money, It would be better to just save up money and start trading on your own capital at least you didn't have to worry about burdens if you lose.
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Insanerman
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July 15, 2020, 05:28:14 AM |
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I do not have much confidence in trading by another person, there are a lot of problems that occur in this type of trading, it will be difficult to calculate the exact profit rate for each party and this will be unfair to either party. This is best done by providing a loan and taking a specified percentage as interest on the loan.
The party could always make an agreement on how they will part the profit. It should also be done if the trade resulted to a loss. To be fair, calculate first the shares of every contributor, you should know how much each owns on the total money your party wanted to trade. Distribute the profit by their shares, it's fair. After the successful trade, because of that one who made the trades successful, he could have interest to each party member's profit depending on their shares, the interest should be agreed before proceeding to the trade.
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michellee
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July 15, 2020, 06:02:52 AM |
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For me it is okay to use someone else funds especially for those traders who doesn't have enough capital to start trading but the risks are too high especially if you are just starting out. Using someone else funds are okay just make sure that you have prior experience in terms of managing money and also trading cryptocurrencies at least 6 months. But if you still insists to borrow someone else funds then do it just be sure that you should be prepared to experience huge losses or even portfolio wipeout.
The risk will become bigger if the market has a downtrend as what we saw after 2017-2018 because, in that year, people have experience in losing their asset value, and only a few people who can still survive and make a profit. Even if we have much experience in trading, we can not always expect that we can profit every time we trade because the trend will be up and down every day. Besides that, the crypto market will be volatile and makes it hard to predict.
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Dorodha
Member
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Activity: 252
Merit: 11
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July 15, 2020, 06:10:57 AM |
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I do not disclose the total for the trading quorum with first aid from someone else because most of the time when you are trading with financial help from someone else you will not be able to concentrate on trading. When you seek financial help from someone else you will actually have less success in trading because there is a urge in you to pay the funds and you will not be able to concentrate fully on trading.
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cheezcarls
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July 15, 2020, 07:42:44 AM |
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Hello. I've been quite successful so far in my trading endeavors. So much so that I've been offered a decent amount of money to trade with if I split the profits 50/50. I just have some questions on how I can go about doing this carefully.
How can I ensure that I am keeping track of when I am using their funds and when I am not? I guess I could always open a second trading account which would keep the funds separate, however, this would be a bit of a pain having to sign in and out of multiple accounts.
If I added the funds to my own account how can I keep track of profits? Could I calculate the percentage of what the newly added funds are compared to my current funds? And if I need to cash out or share profits in the future, I would take that percentage of my total funds and remove them?
For example, if I currently have $10,000 and am loaned $3,000, bringing me to $13,000, could I take the percentage of the loan (23%) and multiply it by my ending balance? So,if a year later, my ending balance is $37,245, would taking 23% of this balance ($8,566) provide me with the correct amount of funds? Then take the 50/50 split profit amount ($4,283) and send it back to the loaner? Does my math seem to add up?
Thanks.
Edit: Just so everyone knows, a close friend of mine has asked me to trade with some of their money. They have witnessed my trading and know that I am profitable. It is NOT a random person as others have suggested on this thread. Either way this does not matter and I would like to keep the discussion on topic.
I had a similar scenario last year. My good friend referred me to someone who wants to trade. However, I didn't expect that referred person wants me to handle her funds and I will trade it for profit. Because of that, I rejected the offer and I don't want to risk it. I only gave her some useful resources about the basics of cryptocurrency trading and where to learn them. It's very hard on my part to keep track of the funds from other people to be used to trade, especially when the market goes down later on.
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traderethereum
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July 16, 2020, 11:43:42 AM |
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We never know what will happen in the future, and it is better we risk our money than to risk other people's money. If we can risk our money, we will know how to prevent the risk, and we always work hard to avoid the big risk.
But, from the perspective of investors they are ready to risk by believing into some traders' skill set. It means they are unable to trade by themselves and that must be the reason why they want to hire someone else to take care of their funds but for trading purposes. I believe this kind of dealing is already happening on most of the markets and because of it remains profitable to the investors, I guess this kind of trends are still keep popping up. OP's case can be different and it is all about dealing only with friends. I guess this type of traders in the beginning days, they will start with friend's capital and then they will slowly expand their business model which will be allowing anyone to invest with them with the basis of profit-sharing at some percentage. Nothing goes wrong until they manage days in profits . Of course, they are ready with the risk, but the problem, if my friend takes that chance, he needs hard work to find the profit while the market is at the downtrend, and it gets dump. We remember what happens after 2017-2018, which is the market was dump so hard and makes many coins suffer. It might be different, but if he can not give the return to his friend, the relationship between them will break, and that can ruin their friendship. That is what I am worried about if he insists on using other people's funds to trade. We never know what will happen tomorrow, but that will be up to him.
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Ridwan Fauzi
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July 16, 2020, 11:52:35 AM |
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For me it is okay to use someone else funds especially for those traders who doesn't have enough capital to start trading but the risks are too high especially if you are just starting out. Using someone else funds are okay just make sure that you have prior experience in terms of managing money and also trading cryptocurrencies at least 6 months. But if you still insists to borrow someone else funds then do it just be sure that you should be prepared to experience huge losses or even portfolio wipeout.
I don't think if the profesional trader or someone who understand the trading field well he didn't have money/lack capital. Because, they will know the strategy of money management and another strategy that will he keep to gain profit. But I just doubt, if they didn't have money and they ask someone's fund to trade he will get profit. I can be sure that he still learn and didn't know more about the ins and out to trade.
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Spaffin
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July 16, 2020, 01:30:57 PM |
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I don't know correctly or I understood the question, but trading with the help of other people's money in the cryptocurrency market is very widespread and this type of activity is called margin trading. This type of cryptocurrency trading is carried out thanks to a loan provided to the trader by the jewelry itself. in fact, according to statistics, very experienced and professional traders, thanks to margin trading, earn very big money, and at the same time, it is margin trading that is their main source of income.
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FanEagle
Legendary
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Activity: 3080
Merit: 1129
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July 16, 2020, 07:41:47 PM |
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I think people would be a little bit more open to risk or would be a lot more closed to risks when using someone else's funds depending what type of person you are. If you are a person who cares about that other person whose funds you are dealing with and you want to make sure they get the most money they can but more importantly do not lose money, you would be closed to risks and you would want to do it right by them and care about them.
If you do not care about the other person you would do a lot of risky stuff and that means if you are working on commission but you are not losing money yourself, you would risk a lot of money to make a bit so that you could get a share of it, if not the worst would be someone else losing money. It all depends on the person who is doing the trading and their relation with the owner of the money.
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adzino
Copper Member
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www.Crypto.Games: Multiple coins, multiple games
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July 16, 2020, 08:00:34 PM |
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Hello. I've been quite successful so far in my trading endeavors. So much so that I've been offered a decent amount of money to trade with if I split the profits 50/50. I just have some questions on how I can go about doing this carefully.
How can I ensure that I am keeping track of when I am using their funds and when I am not? I guess I could always open a second trading account which would keep the funds separate, however, this would be a bit of a pain having to sign in and out of multiple accounts.
If I added the funds to my own account how can I keep track of profits? Could I calculate the percentage of what the newly added funds are compared to my current funds? And if I need to cash out or share profits in the future, I would take that percentage of my total funds and remove them?
For example, if I currently have $10,000 and am loaned $3,000, bringing me to $13,000, could I take the percentage of the loan (23%) and multiply it by my ending balance? So,if a year later, my ending balance is $37,245, would taking 23% of this balance ($8,566) provide me with the correct amount of funds? Then take the 50/50 split profit amount ($4,283) and send it back to the loaner? Does my math seem to add up?
Thanks.
Edit: Just so everyone knows, a close friend of mine has asked me to trade with some of their money. They have witnessed my trading and know that I am profitable. It is NOT a random person as others have suggested on this thread. Either way this does not matter and I would like to keep the discussion on topic.
Yes, you have can see what percentage of his money belongs to the total funds and then split the profit/loss that way. Remember, whatever percentage of profit you make off his money, return him half of the profit since he said he will be splitting the profit 50/50. And ask him what about the loss? Does he cover all the loss or is it 50/50 too? lol And keep track of everything. Open an excel sheet and put on data on it to help you keep everything organized. I would still suggest you not to trade with someone else's money. But since he is someone you know very well, hope you have explained him his risks.
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electronicash
Legendary
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Activity: 3248
Merit: 1055
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July 16, 2020, 08:10:24 PM |
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I think people would be a little bit more open to risk or would be a lot more closed to risks when using someone else's funds depending what type of person you are. If you are a person who cares about that other person whose funds you are dealing with and you want to make sure they get the most money they can but more importantly do not lose money, you would be closed to risks and you would want to do it right by them and care about them.
If you do not care about the other person you would do a lot of risky stuff and that means if you are working on commission but you are not losing money yourself, you would risk a lot of money to make a bit so that you could get a share of it, if not the worst would be someone else losing money. It all depends on the person who is doing the trading and their relation with the owner of the money.
its necessary to pick a good reputable assets manager to avoid loss. i'm not sure if there are something like this in crypto but there is already a copy trading which anyone can do already. there is no need for someone to entrust their money to trade it for them. an assets manager who loses funds result to scam accusation. there were several instances that assets manager loses money and accused as fraud by their clients.
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XCANA
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July 16, 2020, 08:35:34 PM |
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For me it is okay to use someone else funds especially for those traders who doesn't have enough capital to start trading but the risks are too high especially if you are just starting out. Using someone else funds are okay just make sure that you have prior experience in terms of managing money and also trading cryptocurrencies at least 6 months.....
I wouldn't in any way advise anyone to embark on thus suicide mission in the name of be a fund manager. Those funds managers are the most unlucky individual in this cryptocurrency industry due to cryptocurrency volatility. This made many of these find managers end up in cell because of misappropriation of funds. Holding some buy coins from peoples money should be discourage because the current market can't be determine from anywhere soon. I prefer to trade with my hard earned money than someone funds.
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semobo
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July 17, 2020, 04:32:45 PM |
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For me it is okay to use someone else funds especially for those traders who doesn't have enough capital to start trading but the risks are too high especially if you are just starting out. Using someone else funds are okay just make sure that you have prior experience in terms of managing money and also trading cryptocurrencies at least 6 months.....
I wouldn't in any way advise anyone to embark on thus suicide mission in the name of be a fund manager. Those funds managers are the most unlucky individual in this cryptocurrency industry due to cryptocurrency volatility. This made many of these find managers end up in cell because of misappropriation of funds. Holding some buy coins from peoples money should be discourage because the current market can't be determine from anywhere soon. I prefer to trade with my hard earned money than someone funds. How can someone to have enough experience if they don't even have $100 to start crypto trading on their own, hundred dollar is pretty good amount to start and one who have skills can multiply the capital into many times in very short term period then why they need someone's money to start their career.Using someone's money will add more responsibility which can alter your decision making skills towards risky trades.
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CHENIEN
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Activity: 616
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Decentralized Ascending Auctions on Blockchain
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July 18, 2020, 09:48:27 AM Last edit: July 18, 2020, 10:43:33 PM by CHENIEN |
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I don't care about funds if where they came from because in practical terms the most popular is to how to handle it to grow with your own effort and I believe that it would be connected into a good services with benefits most especially if your capital is insufficient. So using someone else fund is good for your own choices to be a part on trading technology.
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wozzek23
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July 18, 2020, 08:51:16 PM |
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I don't care about funds if where they came from the most popular is to how to handle it to grow with your own effort and I believe that it would be connected into a good services with benefits.
It is a risky thing that nobody should meddle with. There was one time when I did something similar, I was promoting a bot back in the day and that bot was actually something that made money during the 2017 period and actually was not the bot itself but because the market was so awesome it was making by itself as well, so it wasn't such a shock since everyone was making money during that period. However I saw that as a chance and someone asked me if I would be willing to share profits if I set up his bot with his account and made it such a thing that would profit with the bot, I said yes and I took the chance to actually take a profit. Dude lost like 20 bitcoins during that time and remember bitcoin was 20k by the end of it, so I felt horrible and the guy was angry but there wasn't nothing that could be done, so we parted ways. Worst feeling in my life.
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Lanatsa
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July 18, 2020, 09:19:32 PM |
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I don't care about funds if where they came from the most popular is to how to handle it to grow with your own effort and I believe that it would be connected into a good services with benefits.
It is a risky thing that nobody should meddle with. There was one time when I did something similar, I was promoting a bot back in the day and that bot was actually something that made money during the 2017 period and actually was not the bot itself but because the market was so awesome it was making by itself as well, so it wasn't such a shock since everyone was making money during that period. However I saw that as a chance and someone asked me if I would be willing to share profits if I set up his bot with his account and made it such a thing that would profit with the bot, I said yes and I took the chance to actually take a profit. Dude lost like 20 bitcoins during that time and remember bitcoin was 20k by the end of it, so I felt horrible and the guy was angry but there wasn't nothing that could be done, so we parted ways. Worst feeling in my life. That sucks and i cant really blame of with that kind of emotion for that time since we get hyped and dragged along with the FOMO thats been happening in the market into those years. Its really a lesson learn for that kind of situation that never be confident on what we are currently seeing in a market specially if its still in bullish side because anytime it can turn upside down unexpectedly which would really result into non anticipated results. Trading someones funds is too risky and i dont really like for someone to be blamed me off.
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