Other Alternatives to Borrowing Money to Start Trading

[AakZaki]

As some users have said, making loans for trading purposes is a high risk as long as they are not experienced traders and experts in their field. In fact, I believe an expert in trading will also be very overwhelmed adjusting his trading strategy when prices don't move in the direction they analyze, so the risk of bad loans plus trading losses will only make the trader's psychology worse.

Without a loan trading budget should also be considered a high risk activity. Price volatility is very erratic because prices can move in both directions unexpectedly. Market trends can change in a short time even in the last 24 hours the price has shown a positive side.

Psychology will indeed get worse when the initial loan becomes a loan that gives a lot of burden. Those professionals may still be able to cope, but if rookies do this kind of thing, they're just trying to get into a big hole and never get back up.
When it is necessary to trade using borrowed money, then the profit target must also be achieved to pay loan installments, this also needs to be done by management to regulate how much money will go into trading. do not enter everything, because it will be very risky to lose.

[Dr.Osh]

I wonder why many prople are considering to start borrowing money to invest in cryptocurrency. This is high risk. Do they always think that investing in crypto will always earn much money? It is probably. But what kind of obstacles and ptoblems to meet if using money from the loans to invest. Moreover if we must pay the debt monthly. This will be high risk. It means that we force to invest more than we can afford, doesn't it?

well, that's a natural thing if we look at human nature, which always wants to get lots of profits instantly. However, the OP's case is that the money borrowed can be returned within one month, so it's not too risky if he has another job to repay the loan. it is sometimes done by people who want to immediately take a chance in trading, or people who can't wait to learn and make a lot of money. however, I think the wisest thing is not to need to borrow if he can pay off the loan within one month. he should study the movement of the chart first, before he actually has the money without borrowing.

[Rockstarguy]

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10.

Normally taking a loan to trade is not a good idea because of the volatility of the market and it is not even good for beginners to have the habit of taking loan, it is better for them to start with their reserves,  a small amount they can afford to lose. A beginner planning to take a loan to invest is only making plans to make money from trading at all cost and it  is only greed that will trigger a beginner to take loan to start up trading.  Every beginner should stay away from loan for trading, it is not a good start for beginners to pick interest in loan.

[sana54210]

A newbie should never take a loan or borrow money only to start his trading career because that is a big mistake. Someone who doesn't know anything about trading has never done it, doesn't even know much about the markets and their behaviors, that person will only need to learn the things at first, I wouldn't even recommend investing $10 but training and learning should be done using demo accounts.

One of the most important aspects of trading is patience, someone who doesn't have that can never get successful in trading because when you get into trading, there will be a lot of occasions where you will need to be patient and don't take hasty decisions.

There are so many ways of making money in crypto that I agree with people not starting off with debt, it would not be a smart way considering newbies would not be able to make much money to begin with. Trading is hard, you can work on it a decade and it will be still hard, it's really not that easy to handle.

It means that we are not going to see a lot of newbies making profit and they should not start off with a debt. However, if they end up with something better, like making money based on their work, then they can use that income to just trade. You can make anything from 150 dollars to 500 dollars just from signature alone, that requires you to be here for a while but if you do that, that is monthly money you could invest, a ton of money if you know what you are doing.

[Quidat]

A newbie should never take a loan or borrow money only to start his trading career because that is a big mistake. Someone who doesn't know anything about trading has never done it, doesn't even know much about the markets and their behaviors, that person will only need to learn the things at first, I wouldn't even recommend investing $10 but training and learning should be done using demo accounts.

One of the most important aspects of trading is patience, someone who doesn't have that can never get successful in trading because when you get into trading, there will be a lot of occasions where you will need to be patient and don't take hasty decisions.

There are so many ways of making money in crypto that I agree with people not starting off with debt, it would not be a smart way considering newbies would not be able to make much money to begin with. Trading is hard, you can work on it a decade and it will be still hard, it's really not that easy to handle.

It means that we are not going to see a lot of newbies making profit and they should not start off with a debt. However, if they end up with something better, like making money based on their work, then they can use that income to just trade. You can make anything from 150 dollars to 500 dollars just from signature alone, that requires you to be here for a while but if you do that, that is monthly money you could invest, a ton of money if you know what you are doing.

Even if you dont really have that IT-related skills which you could really still possibly be able to make some money here on this space on which you could really engage up on some jobs which does really just need up that kind of simple basic ideas or knowledge on which you could easily be able to caught up with. Just like on my case on which i do make money on signature campaign and with some simple tasks online which does pay up crypto on which this is would really be that a significant amount on which you could really be able to start up trading but of course it would really be depending if you are
really that sensible when you are thinking about possible additional income.Yes, its never been good on borrowing for the sake of capital but if you dont really have any choice or option
then its up to you if you could bare up the risks when it comes to borrowing money and its your choice to make, as long you've been aware on your obligations on repaying it back
then its up into your choice whether you should be going on or not.

[Silberman]

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10.

Normally taking a loan to trade is not a good idea because of the volatility of the market and it is not even good for beginners to have the habit of taking loan, it is better for them to start with their reserves,  a small amount they can afford to lose. A beginner planning to take a loan to invest is only making plans to make money from trading at all cost and it  is only greed that will trigger a beginner to take loan to start up trading.  Every beginner should stay away from loan for trading, it is not a good start for beginners to pick interest in loan.

Trading has a failure rate of over 90%, such a stat should tell us how difficult it is to get any kind of success on the markets, and to choose to handicap yourself by taking a loan is a mistake almost no newbie can recover, so when taking everything into account the decision is obvious, newbies need to refuse to take any kind of loan when starting their journeys, otherwise by the time they realize the mistake they have made it would be too late for them to correct it, and they will not only lose all of that money but now they will have to spend months or even years to pay back the money they owe.

[TimeTeller]

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10.

Normally taking a loan to trade is not a good idea because of the volatility of the market and it is not even good for beginners to have the habit of taking loan, it is better for them to start with their reserves,  a small amount they can afford to lose. A beginner planning to take a loan to invest is only making plans to make money from trading at all cost and it  is only greed that will trigger a beginner to take loan to start up trading.  Every beginner should stay away from loan for trading, it is not a good start for beginners to pick interest in loan.

Trading has a failure rate of over 90%, such a stat should tell us how difficult it is to get any kind of success on the markets, and to choose to handicap yourself by taking a loan is a mistake almost no newbie can recover, so when taking everything into account the decision is obvious, newbies need to refuse to take any kind of loan when starting their journeys, otherwise by the time they realize the mistake they have made it would be too late for them to correct it, and they will not only lose all of that money but now they will have to spend months or even years to pay back the money they owe.

Also, the good thing about starting small is that as you go thru your trading journey, you will learn new tricks and strategies.
And at the same time, if you lose, it won't be hard on your pocket. The more tricks/strategies/skills you can acquire, the better for your trading journey.
If you want more funds later on, why not sell some of your things that you think you don't need anymore, de-clutter and you will add more cash to your activity.
You can also accept side jobs even small ones, much much better than taking a loan. At least, it is your own hard-earned money no one will chase you afterwards.