Mahanton
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December 29, 2022, 08:59:55 PM |
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I don’t know how confident you need to be, to trade with borrowed money, even if you get lucky once or twice, it can’t be repeated all the time. By the way, I have not seen many examples of people who were able to get rich thanks to trading, this is a very difficult job, and according to statistics, only a few percent of traders earn money, the rest only lose money.
Not sure how many traders can earn enough profits but earning profits is real and very possible. Sure, not every time we can earn profits in trading. There should be losses, there should be a bad time to trade. Moreover, during this bearish season, the market trend isn't very friendly, sometimes there are big drops and we can't avoid the losses. If we use borrowed money, we don't only get losses but we also can't return the debt. Trading with borrowed money, even for experienced traders, is a very risky business, and for people with little experience, it will be an almost guaranteed loss of money. In this case, the risk of losing everything will be so great that I would rate the chances of success as zero.
Agree. Even experienced traders can get losses, they are also very risky to use borrowed money. I can't imagine if newbies trade with borrowed money. Maybe the chance to lose the money is around 90%, only 10% chance to succeed. If they continue trading with the borrowed money, it may end up with losing all the money and being trapped in a debt. No matter how well or pro you are, you are still prone to losses and its inevitable.Important thing on here is that you do still end up profitable despite of those losses and this is where people do really try to pull off. Making up trades with borrowed funds would really just be adding the risks that you are really that trying to grasps on.Its not bad to take up some risk but not into those times or moments that you are really putting yourself into that huge disadvantage or could really mess up your life which it isnt something recommended for someone to do so. So if you do have some little amount to spare for trading then it is better rather than using a borrowed funds.
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Natalim
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December 29, 2022, 09:25:38 PM |
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Some might really that just too confident with their skills and believing that they could able to repay up some borrowed funds or loan if they would tend to make it use on trading.I dont know on where they do get that kind of confidence and consideration when it comes into their trading activity.Its never been recommendable nor really that suggested on using up loan amounts on doing trades.Instead that you would make up some money or profits, you would really rather lose up if you dont trade up well plus the market isnt something that could really be predictable which means outcomes or results could really neither be positive or negative and no one really knows on how it would be ending up.
If you have multiple sources of income, this is not impossible but if we just rely on the results of our trades, I couldn't really think about it. Might borrowing a small amount for trading is not really a bad decision but if we talk about a huge amount, that seems not to encourage as we can't be sure about the future of our trading journey. It is really the best option to make use of our own money for doing this just to avoid hitting another problem. We'd better-playing safe in trading otherwise, we regret our decision later.
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posi
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December 30, 2022, 02:54:13 PM |
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The risk is too high if we borrow for the sake of investing and trading. Even experienced traders and investors don't recommend borrowing.
Giving financial advice to others is not considered wise so experienced investors won't do it because of their reputation and they don't know what situation you are in. As I said, if you have another source of income and you can afford to pay off your debt even if your trading fails, you can take out a loan to get started. Borrowing money for business is not advisable, but that does not mean that in all cases, if you do not take risks, you cannot succeed.
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darewaller
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December 30, 2022, 05:26:00 PM |
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I really think this is a very bad idea. It should be understood that trading is a rather dangerous option for work. And for the money that is poked, this is a big risk at all ...
Not really. If you have a solid plan what you are going to do with the money then there is no problem borrowing funds. For example if you see a clear arbitrage opportunity and you lack funds then there is no harm in borrowing funds, getting the profits and paying out the loan. This is a thing what many people do, but only few succeed. Considering the risk that it involves, I will say never to do it unless you know how to trade properly, and you are considered to be a professional. Otherwise, you will just lose and be in more debt, leading to stress, and your brain will make more wrong decision.
I am also not in the favor of taking loans to try new stuff but if you are damn sure that you know something and that will work out for sure if you have capital then it's not the worst idea to take a loan. During the pandemic a few years ago, I took a loan as well and it helped me stabilize and now I have already paid it because I had a clear plan of what I was going to do.
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tjtonmoy
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December 30, 2022, 06:52:54 PM |
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I am also not in the favor of taking loans to try new stuff but if you are damn sure that you know something and that will work out for sure if you have capital then it's not the worst idea to take a loan.
During the pandemic a few years ago, I took a loan as well and it helped me stabilize and now I have already paid it because I had a clear plan of what I was going to do.
Yeah exactly, This is what I was trying to say. If you are certain that the outcome of your actions will be fruitful, only then you can put your loans for investment plan. Otherwise, what's the point? People says that you need to make mistakes in life in order to learn from them. Well, that does not apply when you are dealing with someone else's fund. Proper knowledge and strategy will be the key to success in this business. Then again, why build more pressure while you are already in one. Not everyone will become successful like you did. So maybe you can teach OP how he can make good use of it while we learn a bit of that too.
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blockman
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December 30, 2022, 07:27:49 PM |
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It's never been advisable. But, there are probably people that have been doing that just for them to think that they're lucky enough to trade and will return the money eventually afterward. It's easy to think like that but you'll never like what's going to be the actual situation when you're in it. Because random trades do happen and random losses also come based on how you trade. Trading has never been easy in reality and coming up to the market with borrowed funds, you better not do that and return the money to the owner or don't ask for it.
Some might really that just too confident with their skills and believing that they could able to repay up some borrowed funds or loan if they would tend to make it use on trading.I dont know on where they do get that kind of confidence and consideration when it comes into their trading activity.Its never been recommendable nor really that suggested on using up loan amounts on doing trades.Instead that you would make up some money or profits, you would really rather lose up if you dont trade up well plus the market isnt something that could really be predictable which means outcomes or results could really neither be positive or negative and no one really knows on how it would be ending up. Well, if a person does that and he thinks that he can grow the borrowed money through trading then he should just sell some stuff and don't bother other people from borrowing as it will just cost them money and time. And what's worse, the friendship or the knowing of that person for you will change eventually because it's related to money. People who have seen it before will have the idea already on what the outcome will be and most likely, it'll be negative result. We believe it or not, we've seen it a dozen times that it's never good to borrow money for trading or investing in crypto.
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carlfebz2
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December 30, 2022, 08:14:38 PM |
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It's never been advisable. But, there are probably people that have been doing that just for them to think that they're lucky enough to trade and will return the money eventually afterward. It's easy to think like that but you'll never like what's going to be the actual situation when you're in it. Because random trades do happen and random losses also come based on how you trade. Trading has never been easy in reality and coming up to the market with borrowed funds, you better not do that and return the money to the owner or don't ask for it.
Some might really that just too confident with their skills and believing that they could able to repay up some borrowed funds or loan if they would tend to make it use on trading.I dont know on where they do get that kind of confidence and consideration when it comes into their trading activity.Its never been recommendable nor really that suggested on using up loan amounts on doing trades.Instead that you would make up some money or profits, you would really rather lose up if you dont trade up well plus the market isnt something that could really be predictable which means outcomes or results could really neither be positive or negative and no one really knows on how it would be ending up. Well, if a person does that and he thinks that he can grow the borrowed money through trading then he should just sell some stuff and don't bother other people from borrowing as it will just cost them money and time. And what's worse, the friendship or the knowing of that person for you will change eventually because it's related to money. People who have seen it before will have the idea already on what the outcome will be and most likely, it'll be negative result. We believe it or not, we've seen it a dozen times that it's never good to borrow money for trading or investing in crypto. What if you dont have something that you could sell out or even if you do then those funds wont really be just enough? You would be leaving no choice but to borrow but you should only borrow on the amount which you do seem that you could really be able to repay.Its not really that bad to make out some loans but be sure that you are really that capable on paying it back whether your trading is profitable or not. Just like on what the rest is saying on here that trading cant be known on what would be the result.You arent that blind nor that dumb not to know on whats the reality of it. People are really just making decisions on rush manner without thinking the consequences.
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SmartCharpa
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December 30, 2022, 10:56:13 PM |
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Trading with borrowed funds is a good idea if you're willing to take the risk. After all, if you invest sometimes the market will decline, and if you take the chance to gamble with borrowed funds and lose the money you bet, how will you be able to pay back your debt? Some people use borrowed money to trade for profit, but this is quite risky if you can handle it.
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EdenHazard
Legendary
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Activity: 2674
Merit: 1048
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December 31, 2022, 12:07:23 AM |
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The risk is too high if we borrow for the sake of investing and trading. Even experienced traders and investors don't recommend borrowing.
Giving financial advice to others is not considered wise so experienced investors won't do it because of their reputation and they don't know what situation you are in. As I said, if you have another source of income and you can afford to pay off your debt even if your trading fails, you can take out a loan to get started. Borrowing money for business is not advisable, but that does not mean that in all cases, if you do not take risks, you cannot succeed. Well there always two ways in everything right? Just the matter of choices ... there are no correct ways and wrong ways ... both sides always correct with its point of view .. the reasonable point of view. So no matter if you take that risk to have a borrowed funds to trade in a mission to have a better life in a great opportunity you realize ahead ... Or leaving that risk and living a peaceful life with a standard income that you will hard to find equalling the trading income. Pretty simple isn't it?
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Yamifoud
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December 31, 2022, 12:21:04 AM |
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It was not really a good start in trading using funds not from your own pocket but from others (borrowed money). It was not advisable but also, but I don't make such an excuse not to take risks and borrow money for as long as we can pay for it on the deadline. It is just like starting a business with borrowed money but as I've said, trading is too risky and has no assurance for returns, especially for beginners that is why I don't encourage doing it, yet I'd never stop them.
I am also like you, I will not forbid people from making borrowed money as trading capital even though it is risky because if the debt is managed properly, it will benefit the borrower. I once borrowed money from my mother to buy bitcoin, then when the value went up 25% I immediately sold it and returned the capital I borrowed from my mother. maybe this is a small part of my story that succeeded in managing borrowed money to make profits while trading, maybe there is something more inspiring. Yes, as long as it was manageable and we know ourselves we can pay for it, there is no problem with that. But we should be careful with our trades knowing that we already have some responsibility. However, I don't make that DEBT as a factor that could urge us to work hard and be careful in our decisions, we still need to become passionate and happy about what we are doing because this is the way it helps to have positive thinking than being distracted for something - like paying the borrowed money.
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Ayers
Legendary
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Activity: 2730
Merit: 1024
Vave.com - Crypto Casino
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December 31, 2022, 04:00:23 AM |
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I am also not in the favor of taking loans to try new stuff but if you are damn sure that you know something and that will work out for sure if you have capital then it's not the worst idea to take a loan.
During the pandemic a few years ago, I took a loan as well and it helped me stabilize and now I have already paid it because I had a clear plan of what I was going to do.
Yeah exactly, This is what I was trying to say. If you are certain that the outcome of your actions will be fruitful, only then you can put your loans for investment plan. Otherwise, what's the point? People says that you need to make mistakes in life in order to learn from them. Well, that does not apply when you are dealing with someone else's fund. Proper knowledge and strategy will be the key to success in this business. Then again, why build more pressure while you are already in one. Not everyone will become successful like you did. So maybe you can teach OP how he can make good use of it while we learn a bit of that too. If you borrow money to do business outside, I will not object because as long as you have a clear idea and plan, making a profit is not too difficult, and we can also adjust our work accordingly best. But for trading, it is entirely different, even if you are a professional trader, are you sure you will win with the market? In trading, don't say 2 words for sure here. @darewaller, You borrowed money during the pandemic, but you need to tell us what you used the money for, is it for trading? If that's true, then I think OP needs your advice, but if it's not trading, it's not good advice for OP.
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len01
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December 31, 2022, 06:15:03 AM |
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It was not really a good start in trading using funds not from your own pocket but from others (borrowed money). It was not advisable but also, but I don't make such an excuse not to take risks and borrow money for as long as we can pay for it on the deadline. It is just like starting a business with borrowed money but as I've said, trading is too risky and has no assurance for returns, especially for beginners that is why I don't encourage doing it, yet I'd never stop them.
I am also like you, I will not forbid people from making borrowed money as trading capital even though it is risky because if the debt is managed properly, it will benefit the borrower. I once borrowed money from my mother to buy bitcoin, then when the value went up 25% I immediately sold it and returned the capital I borrowed from my mother. maybe this is a small part of my story that succeeded in managing borrowed money to make profits while trading, maybe there is something more inspiring. Yes, as long as it was manageable and we know ourselves we can pay for it, there is no problem with that. But we should be careful with our trades knowing that we already have some responsibility. However, I don't make that DEBT as a factor that could urge us to work hard and be careful in our decisions, we still need to become passionate and happy about what we are doing because this is the way it helps to have positive thinking than being distracted for something - like paying the borrowed money. in essence, trading using borrowed money is not recommended for anyone. because some risks such as losing all the money in trading and being depressed when trading become emotional always thinking about the loan that must be returned. We all already know that crypto prices fluctuate a lot and not everyone always makes a profit, even a pro trader sometimes still gets a loss. and one more thing, if trading using borrowed money later it will disturb your mind and peace when trading. all that is in mind is the fear of loss and having to return the loan money. emotionally it would be very disturbing. so think more maturely using borrowed money to trade
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Woodie
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December 31, 2022, 06:37:30 AM |
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It is true that some people have become rich through crypto trading in the recent times. But considering the high risk involved in trading, do you think it's proper/wise to trade with borrowed funds as your capital irrespective of your trading experience?
They say to succeed in life you need to be prepared to take the risk, and the riskier the task is, the higher the reward! So basically borrowed or not borrowed trading is risky business which requires a trader to have the skill and experience. If skill/experience isn't there, then simply just don't trade.. Let's keep practicing to perfect the art.
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Hypnosis00
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December 31, 2022, 07:59:11 AM |
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It is true that some people have become rich through crypto trading in the recent times. But considering the high risk involved in trading, do you think it's proper/wise to trade with borrowed funds as your capital irrespective of your trading experience?
They say to succeed in life you need to be prepared to take the risk, and the riskier the task is, the higher the reward! So basically borrowed or not borrowed trading is risky business which requires a trader to have the skill and experience. If skill/experience isn't there, then simply just don't trade.. Let's keep practicing to perfect the art. I can't tell if a trader had started trading with full of knowledge and skills because for sure they are started only knowing the basics. Yes, trading is a risky business but we never grow and know trading if we keep being afraid of losing our money. We can never call ourselves experienced traders or experts in the said field if we never suffer losses and frustrations as it is all part of the learning process and success. But it was preferred to start trading using your own money just to avoid any problem if ever we lose our capital.
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Wolfblood200$
Jr. Member
Offline
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December 31, 2022, 09:58:54 AM |
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It is never okay to use borrowed funds to trade , reason because this is a risky business , the market can be profitable but it can as well crash in a blink without prior notice so it is not a wise decision to use borrowed funds to trade.
Using borrowed funds can put you under duress while trading and this may lead you to make a lot of mistake so my advice is do not use borrowed funds to trade. Thanks
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Rockstarguy
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December 31, 2022, 03:50:28 PM |
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It is true that some people have become rich through crypto trading in the recent times. But considering the high risk involved in trading, do you think it's proper/wise to trade with borrowed funds as your capital irrespective of your trading experience?
They say to succeed in life you need to be prepared to take the risk, and the riskier the task is, the higher the reward! So basically borrowed or not borrowed trading is risky business which requires a trader to have the skill and experience. If skill/experience isn't there, then simply just don't trade.. Let's keep practicing to perfect the art. Trading on its own is risky but it is more risky to borrow money to trade. The reason it is not advisable to borrow money trade is for the sake of the beginners and traders who are not better in trading because it is possible to lose all what they have for trading . It is normal to feel emotional when money is been lose in trading and it will be more painful if the money is a borrowed one, so it is better to use personal money and amount that one can afford to lose to trade.
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tjtonmoy
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December 31, 2022, 11:01:22 PM |
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I am also not in the favor of taking loans to try new stuff but if you are damn sure that you know something and that will work out for sure if you have capital then it's not the worst idea to take a loan.
During the pandemic a few years ago, I took a loan as well and it helped me stabilize and now I have already paid it because I had a clear plan of what I was going to do.
Yeah exactly, This is what I was trying to say. If you are certain that the outcome of your actions will be fruitful, only then you can put your loans for investment plan. Otherwise, what's the point? People says that you need to make mistakes in life in order to learn from them. Well, that does not apply when you are dealing with someone else's fund. Proper knowledge and strategy will be the key to success in this business. Then again, why build more pressure while you are already in one. Not everyone will become successful like you did. So maybe you can teach OP how he can make good use of it while we learn a bit of that too. If you borrow money to do business outside, I will not object because as long as you have a clear idea and plan, making a profit is not too difficult, and we can also adjust our work accordingly best. But for trading, it is entirely different, even if you are a professional trader, are you sure you will win with the market? In trading, don't say 2 words for sure here. @darewaller, You borrowed money during the pandemic, but you need to tell us what you used the money for, is it for trading? If that's true, then I think OP needs your advice, but if it's not trading, it's not good advice for OP. Nothing comes without risk. Doing business also does not give you a 100/80% certainty that it will bring you profit what you have wished for. Take this year for example. The economy right now is very much messed up. What you could have achieved with the money you had, now you have to spend almost double. And each and every product or goods has it own seasonal value. Doing business without the market's knowledge and not knowing when and where to sell which product can make your business fall too. Like if you are doing food business, food is something that everyone need, thus it will always have a demand. But to know which food is needed when, is the key to success. And food gets rotten after storing it for long time. So there's that risk too. Moral of the story is, you can't do anything and wish for success without having good knowledge about it. You can take risk with your own money but to do that with borrowed money makes it more difficult for the freedom of your work.
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Davidvictorson
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January 01, 2023, 06:52:48 AM |
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I will answer from the psychological point of view. For the sake of your mental health, never trade or invest in bitcoin with borrowed funds or worst still any money you know that you cannot afford to lose. This cannot be over stressed or over emphasized enough. When your creditors starts calling and the money haven't 2x or 10x for you to give them back their capital, you will experience all the negative emotions in the world that can put you in a bad place mentally. Please do not do it.
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GigaBit
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January 01, 2023, 07:45:52 AM |
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It is true that some people have become rich through crypto trading in the recent times. But considering the high risk involved in trading, do you think it's proper/wise to trade with borrowed funds as your capital irrespective of your trading experience?
They say to succeed in life you need to be prepared to take the risk, and the riskier the task is, the higher the reward! So basically borrowed or not borrowed trading is risky business which requires a trader to have the skill and experience. If skill/experience isn't there, then simply just don't trade.. Let's keep practicing to perfect the art. Trading on its own is risky but it is more risky to borrow money to trade. The reason it is not advisable to borrow money trade is for the sake of the beginners and traders who are not better in trading because it is possible to lose all what they have for trading . It is normal to feel emotional when money is been lose in trading and it will be more painful if the money is a borrowed one, so it is better to use personal money and amount that one can afford to lose to trade. Every trading platform has the image of trading with borrowed money. However, if you want to borrow money and trade in the crypto market, you must be extremely careful. It is more volatile platform where investment has fear of loss at the same time you can profit multiple of investment. Crypto selection is also an important factor when it comes to investing in crypto. There are many cryptocurrencies where an investment may not return that can go to the dogs. In addition, when an investor borrows money, if he has to pay interest against that money, how much it can be is also important. I think it is better not to trade for those who want to rely on borrowing money to invest in crypto. Because one thing is to keep in mind in crypto that you can only invest money that you can afford to lose. So should try to trade crypto with own money.
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stadus
Legendary
Offline
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January 01, 2023, 09:01:38 AM |
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I will answer from the psychological point of view. For the sake of your mental health, never trade or invest in bitcoin with borrowed funds or worst still any money you know that you cannot afford to lose. This cannot be over stressed or over emphasized enough. When your creditors starts calling and the money haven't 2x or 10x for you to give them back their capital, you will experience all the negative emotions in the world that can put you in a bad place mentally. Please do not do it.
I'd see it was not the best option but sometimes we also have to think that if we just wait to have capital before we start trading, we are also wasting our time for that. We were all not born rich, many of us are poor but wanted to improve our living through trading. That is why I can't blame others to have debt because they don't have other options and they don't want to lose their time waiting. Whether it was not right or not advisable but there is no impossible if we work hard. In fact, trading is just all about knowledge, skills, and courage. And of course, self-control.
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