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February 01, 2023, 10:42:18 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?
Trading with borrowed funds, irrespective of the trading experience the trader possess is a big mistake on the borrower and the lender alike. Here in my country, there have been a lot of businesses that sprang up and was centered around crypto and forex trading, the business owners inviting individuals and corporate organizations to invest their money in the trading business for monthly interest.. Right now, all of this business which I knew of have all folded up and close, with several of them even catering away with money belonging to their investors, I'm a victim of one actually. So in conclusion, trading is good and a good source of income for those who know how to trade, but I personally will never borrow money to trade, and ever again will I ever invest my money on a trader.
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JeffBrad12
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February 01, 2023, 11:21:05 PM |
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some people might think that using borrowed funds for trading might be good idea if someone knows what they're doing and is good at trading but the thing with cryptocurrency market or even investments in general is that sometimes the market goes out of their way and it will all about luck that could make you gaining profits, and at that time using borrowed funds for trading would be disastrous, moreover the interests is already such burden.
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Lanatsa
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February 01, 2023, 11:52:29 PM |
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some people might think that using borrowed funds for trading might be good idea if someone knows what they're doing and is good at trading but the thing with cryptocurrency market or even investments in general is that sometimes the market goes out of their way and it will all about luck that could make you gaining profits, and at that time using borrowed funds for trading would be disastrous, moreover the interests is already such burden.
Its impossible that on the time you do take a loan then you are aware that you are really that paying with some interest out of the principal amount that you had borrowed which is the typical stuff. It is really just depending on someone on how well they do repay up someone on where they had borrowed. When you do borrow then you are really that should be minding on how to repay those loans and if you are investing on crypto then dont expect that you could really get something in short time and also it would be basing up on how well you are on trading in between crypto to make out some profits. We know that not all would really be that good in short term trades and instead of earning, you might be losing even more if you arent that careful or well enough on making decisions.
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Xampeuu
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February 02, 2023, 04:11:10 AM |
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some people might think that using borrowed funds for trading might be good idea if someone knows what they're doing and is good at trading but the thing with cryptocurrency market or even investments in general is that sometimes the market goes out of their way and it will all about luck that could make you gaining profits, and at that time using borrowed funds for trading would be disastrous, moreover the interests is already such burden.
for a trading professional, I don't think it will be a problem using borrowed funds, but for beginners and people who don't really understand trading, I think it will also be a disaster, because they may not be able to trade correctly, which is primarily a psychological problem, moreover they have to paying monthly installments, of course financial circulation can create a psychological burden, and eventually bad things can happen, and not in accordance with the initial image
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summonerrk
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February 03, 2023, 04:48:58 AM |
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A case from my past: in 2017, I realized that cryptocurrencies are a breakthrough event and in the near future the world will learn about them and get sick with crypto fever. I went to the bank and borrowed $1000. At that time, it was the only time I took out a loan. Of course, I invested this money in the crypt, in the DCR. After 3 months, I managed to double this money, and I returned to the bank what I owed. Now I think it was a one-time action, but apparently, then the potential of cryptocurrencies seemed really high to me.
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Smack That Ace
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February 03, 2023, 05:30:34 AM |
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A case from my past: in 2017, I realized that cryptocurrencies are a breakthrough event and in the near future the world will learn about them and get sick with crypto fever. I went to the bank and borrowed $1000. At that time, it was the only time I took out a loan. Of course, I invested this money in the crypt, in the DCR. After 3 months, I managed to double this money, and I returned to the bank what I owed. Now I think it was a one-time action, but apparently, then the potential of cryptocurrencies seemed really high to me.
I can say that you were too reckless to do it, but luck was on your side, you made a profit and were able to repay that loan. But if in case your investment fails and doesn't live up to expectations, I want to know how you will pay off that $1k debt. Because we all know investing in bitcoin or cryptocurrency is extremely risky, no one can be sure his investment will be profitable. If someone is 100% sure of winning, they will sell all their assets to invest in bitcoin to become a billionaire quickly. Maybe luck has been with you in the past, but I don't think luck will come to OP, so borrowing money to trade or invest is not advisable.
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KupaCrypto
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February 03, 2023, 01:41:06 PM |
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A case from my past: in 2017, I realized that cryptocurrencies are a breakthrough event and in the near future the world will learn about them and get sick with crypto fever. I went to the bank and borrowed $1000. At that time, it was the only time I took out a loan. Of course, I invested this money in the crypt, in the DCR. After 3 months, I managed to double this money, and I returned to the bank what I owed. Now I think it was a one-time action, but apparently, then the potential of cryptocurrencies seemed really high to me.
Yes an action can really defined the rest of your life, an action can change your life forever. So that move you took is a life changing one, actually I can't borrow money to invest but I can actually sell my belongings or anything available to invest in crypto currency and I won't regret doing so. For me borrowing fund is kid of risky because it comes with interest and if you don't pay on time you might end up paying more than twice of the Money you borrowed from them. Borrowing from a source without interest is also cool as you can pay back at any convenient time as you don't really know when crypto will increase in value.
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Altryist
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February 03, 2023, 02:44:20 PM |
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When you do borrow then you are really that should be minding on how to repay those loans and if you are investing on crypto then dont expect that you could really get something in short time and also it would be basing up on how well you are on trading in between crypto to make out some profits.
We know that not all would really be that good in short term trades and instead of earning, you might be losing even more if you arent that careful or well enough on making decisions.
Trading is a risky business in itself, and trading with borrowed money only increases the risks. If you have tried your strategies with small sums and see that you are doing well, then just keep trading and increase your deposit, you can also set aside some amount specifically for trading. And if this is not the case and you cannot increase your initial funds in trading, then what is the point of borrowing? This will still lead to the loss of this money and the problems will be even greater than before this loan.
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zaki12
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February 03, 2023, 08:39:30 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?
In making loans, you must understand your own character, how to manage money. If you make a loan for trading, I think it's the wrong choice, because the certainty of returning the loan cannot be predicted because trading is high risk. Don't because you see other people profit in trading, your mind becomes blind and immediately looks for sources of funds with loans and without thinking about the risks you have. maybe we can pay it off if we really get a profit when trading, but if we experience a loss, of course it will be more difficult for us to think about the debt we have to pay off.
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kawetsriyanto
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February 03, 2023, 08:42:50 PM |
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for a trading professional, I don't think it will be a problem using borrowed funds, but for beginners and people who don't really understand trading, I think it will also be a disaster, because they may not be able to trade correctly, which is primarily a psychological problem, moreover they have to paying monthly installments, of course financial circulation can create a psychological burden, and eventually bad things can happen, and not in accordance with the initial image
Being a professional trader/investor doesn't mean always getting profits. Although having much experience and knowledge, there will be always a chance of losing. That's why never use borrowed money excessively and with no good plan. Sure, a professional trader/investor is likely to use borrowed funds wisely and should have a chance to gain profits higher. While newbies, it is 100% not recommended. Using borrowed money/funds need to have sufficient experience and knowledge in crypto. A good strategy, having good self-control, and knowing well the current situation in crypto market are some factors to succeeding in using the borrowed funds/money. These all do not belong to the newbies.
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Lanatsa
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February 03, 2023, 09:52:13 PM |
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When you do borrow then you are really that should be minding on how to repay those loans and if you are investing on crypto then dont expect that you could really get something in short time and also it would be basing up on how well you are on trading in between crypto to make out some profits.
We know that not all would really be that good in short term trades and instead of earning, you might be losing even more if you arent that careful or well enough on making decisions.
Trading is a risky business in itself, and trading with borrowed money only increases the risks. If you have tried your strategies with small sums and see that you are doing well, then just keep trading and increase your deposit, you can also set aside some amount specifically for trading. And if this is not the case and you cannot increase your initial funds in trading, then what is the point of borrowing? This will still lead to the loss of this money and the problems will be even greater than before this loan. Well you do really get a point but we know that not all people would really be having that patience and this is why they do really opt out on taking up a loan and trying to process things up a bit fast compared into those accumulation of profits or trying out to compound your small capital until on making it big but in overall i do agree that it would be better on this way on which you should avoid on taking up a loan and if you do see that you are able to make profit on your small capital.Then compounding would be the key and if you do able to make it big then it does signifies that you are really that doing the right thing which not everyone could easily pull off.
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Bushdark
Sr. Member
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February 04, 2023, 12:58:38 AM Last edit: February 04, 2023, 01:13:33 AM by Bushdark |
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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?
We should not make the mistake of trading with borrowed funds. It does not make any sense and if we eventually make loses it will affects our mentality to the level of us not getting ourself and continuing. I have a friend that was once a traders . He uses people's money to trade and do give them percentage for that but it get to a time when the profits was not coming like that so he faced bankruptcy and there was nothing he could do. He had to run away with people's fund including my own fund too. The. I learnt from the hard way never to trust anyone with my money because the market can change pattern any single time.
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Quidat
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February 04, 2023, 10:52:32 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?
We should not make the mistake of trading with borrowed funds. It does not make any sense and if we eventually make loses it will affects our mentality to the level of us not getting ourself and continuing. I have a friend that was once a traders . He uses people's money to trade and do give them percentage for that but it get to a time when the profits was not coming like that so he faced bankruptcy and there was nothing he could do. He had to run away with people's fund including my own fund too. The. I learnt from the hard way never to trust anyone with my money because the market can change pattern any single time. On the time that you do know that you are trading up with borrowed funds then it cant really be that avoided for you to make yourself get stressed and wont really be that confident because you would be having in mind that you should really be trading it well so that you could make profits which is really bad.You do make yourself that desperate and its not a good behavior as a trader on which this would result on making yourself in a hurry which would cause lots of errors and mistakes. As much as possible it would be good if you do trade on funds which arent loaned or borrowed.
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