Should I Get a Loan?

[Solodoski]

What I see about bitcoin is its gonna bounce between 100-110k to 80-90k for a long time (at least until Trump takes over). I have an option to take a 2.8k $ loan from a bank and pay 3.4k $ in 8 months. (I'm gonna start paying it after 2 months so you may assume its 6 months). Should I get that loan and make 3x - 5x margin trades on Bitcoin with this strategy? I really appreciate your help. Take Care.

Securing a loan for trading is first of all a very bad investment. From my personal experience, 2020 when I was introduce to trading, after seeing all the opportunity in  trading after 3 months of learning I loaned money from my elder brother and promise to pay back is 3 months time. I loss all the money. And I was not able to pay back. I have to look for another means to pay back the money. Considering the emotional and psychological aspects of trading it is not advisable to take a loan for trading.

from experience, borrowing money to trade puts you under pressure that is enough to push you into losses. regardless of how certain you feel the trade can go, if the amount you are using is not something you can afford to lose, it is not advisable to make that kind of gamble on it. if getting profit from trades was easily like that, people would have been cashing out really big from trading. getting a loan for trading is just like taking a lone to gamble, the risk out pass the potential gain.

[Shishir99]

from experience, borrowing money to trade puts you under pressure that is enough to push you into losses. regardless of how certain you feel the trade can go, if the amount you are using is not something you can afford to lose, it is not advisable to make that kind of gamble on it. if getting profit from trades was easily like that, people would have been cashing out really big from trading. getting a loan for trading is just like taking a lone to gamble, the risk out pass the potential gain.

Future trade is nothing better than gambling. I consider it as gambling already. But if someone has good knowledge and experience, they can make profits while sometimes knowledge and experience do not help in gambling. I am not eliminating the fact that knowledge is important in gambling, but when people gamble in certain things like slots, you only rely on your luck while sports betting and poker are kind of different.

I agree with your entire post about your point of view regarding taking loan to trade. There is another thread about trading under pressure. People should know about this as well.

[benalexis12]

from experience, borrowing money to trade puts you under pressure that is enough to push you into losses. regardless of how certain you feel the trade can go, if the amount you are using is not something you can afford to lose, it is not advisable to make that kind of gamble on it. if getting profit from trades was easily like that, people would have been cashing out really big from trading. getting a loan for trading is just like taking a lone to gamble, the risk out pass the potential gain.

Future trade is nothing better than gambling. I consider it as gambling already. But if someone has good knowledge and experience, they can make profits while sometimes knowledge and experience do not help in gambling. I am not eliminating the fact that knowledge is important in gambling, but when people gamble in certain things like slots, you only rely on your luck while sports betting and poker are kind of different.

I agree with your entire post about your point of view regarding taking loan to trade. There is another thread about trading under pressure. People should know about this as well.

Honestly, even those with deep knowledge of futures trading are often burned by the fund in this trading, and it even adds pressure. Unless the analysis you do in futures is always accurate,
I can still consider it.

But if you use a loan and use it in futures trade, I think you should only use the 25% portion in futures trading, don't borrow or lend it all. Because every time you choose a position,
it's almost like you're relying on luck to choose the position.

[Lanatsa]

from experience, borrowing money to trade puts you under pressure that is enough to push you into losses. regardless of how certain you feel the trade can go, if the amount you are using is not something you can afford to lose, it is not advisable to make that kind of gamble on it. if getting profit from trades was easily like that, people would have been cashing out really big from trading. getting a loan for trading is just like taking a lone to gamble, the risk out pass the potential gain.

Future trade is nothing better than gambling. I consider it as gambling already. But if someone has good knowledge and experience, they can make profits while sometimes knowledge and experience do not help in gambling. I am not eliminating the fact that knowledge is important in gambling, but when people gamble in certain things like slots, you only rely on your luck while sports betting and poker are kind of different.

I agree with your entire post about your point of view regarding taking loan to trade. There is another thread about trading under pressure. People should know about this as well.

Same here on which i do really that consider futures trading to be gambling on which it will really be that understandable considering the duration which is really that involved minutes or seconds on which this will really be that truly a gamble on which basing up into the volatility of this market then you can be able to tell that there's no easy way on dealing with a volatile market specially. For spot trading then its considerable but for future then this is something on which i wont really be that confident on doing so. This is why its understandable that at the moment that you do get a loan then you should be considerate about whether you do make use of it on the right way.

Taking up a loan for doing trading then i would say that this isnt that recommended because at the time that you will be that losing up that money then you will be that facing up some financial problems since it is really that out of your budget. This is why when dealing up with trading or investing or even gambling then taking up some loan will really be that a risky move and if you dont like yourself to be put up into such potential problem then you should be mindful about into this aspect.

[Shishir99]

Same here on which i do really that consider futures trading to be gambling on which it will really be that understandable considering the duration which is really that involved minutes or seconds on which this will really be that truly a gamble on which basing up into the volatility of this market then you can be able to tell that there's no easy way on dealing with a volatile market specially. For spot trading then its considerable but for future then this is something on which i wont really be that confident on doing so.

Look, when you do a spot trade, you buy a token when it was $5 each, if the token price decreases, even if goes below $2, you still hold the same amount of token which can increase in value in the future. But when you do future trade, basically you are placing a bet on its price. You have a liquidation price and if your token hits the liquidation price, you get busted.

The opposite happens as well. You double or triple your money within a few minutes. You are actually placing bets on a token's price. So, I do consider it as a gambling. Binary trading is another kind of gambling.

[Swapter.io]

In such matters, you need to think very carefully. For example, will you be able to repay the loan in case of partial or complete failure of your plan? Is the potential profit worth these actions? If we're talking about a +$100 gain (I'm not specifically referring to this example from OP, but in general), then I don't think all these actions and stress are worth it. And, of course, you should consider whether you will have enough money for living expenses while you wait for these 8 months or however long others may have to wait. There are many nuances in this issue, and you should always consider all risks and possibilities. The more possible outcomes you can calculate, the stronger you will stand.

[Zanab247]

What I see about bitcoin is its gonna bounce between 100-110k to 80-90k for a long time (at least until Trump takes over). I have an option to take a 2.8k $ loan from a bank and pay 3.4k $ in 8 months. (I'm gonna start paying it after 2 months so you may assume its 6 months). Should I get that loan and make 3x - 5x margin trades on Bitcoin with this strategy? I really appreciate your help. Take Care.

I am just reading this and I hope you've not gone ahead for the loan. Trading and loans should not mix, not even for investment unless you want to take a risk more than usual. You can't invest or trade with the money you can't afford to lose, that's the right rule, or you can afford to lose the loaned money? I doubt that. So don't try it, otherwise, you will most likely regret your action just like those who did it in the past.

He has the final say because many have advise him not to take loan to trade crypto, that he will not recover from what will happen at the end, which is just an advise to him whether he will accept or not. I don't know if he have another business or source of income he will use to back himself up in case it did not work to return the capital and the interest before the 8 months, he can use other businesses income to settle the loan.

There are some people that tried this loan to trade crypto some years ago, they vow never to make such decision for the rest of their lifes because it cause so much debt to them.

[xLays]

If you can avoid taking loan, then avoid it. Because based on my experience, it makes things worse on my experience especially if you’re not fully prepared for the repayments. Best thing to do is only consider borrowing if you’re sure that your investment or purpose will generate more profit than the loan’s interest. Otherwise, it’s better to save up and wait. Debt can be trap if not managed wisely that is 100% leading to unnecessary financial stress. Always try to know the risks before committing to any loan.

[mich]

Well we should not ever take a loan to try to invest and make more profit from it. The crypto market is so volatile and you are already needing to make interest payments.
So if the market does go down well then you are losing your capital nd you still must make the interest payments. It is not good for us to take out a loan to do any investing not just only in crptocurrencey.

[shinratensei_]

Well we should not ever take a loan to try to invest and make more profit from it. The crypto market is so volatile and you are already needing to make interest payments.
So if the market does go down well then you are losing your capital nd you still must make the interest payments. It is not good for us to take out a loan to do any investing not just only in crptocurrencey.

the only good loan to take for crypto trading is a loan for leverage by looping through lending defis or vaults. because actually it gives interest to both party.
meanwhile trading with loan from bank just means we're in a deeper hole than the other people, a lot of things need to be paid and to be able to stay sustainable we need to meet certain percent of return every month and if we can't then we're in for even more trouble.

there's simply no benefit at all that we get.

[stomachgrowls]

Well we should not ever take a loan to try to invest and make more profit from it. The crypto market is so volatile and you are already needing to make interest payments.
So if the market does go down well then you are losing your capital nd you still must make the interest payments. It is not good for us to take out a loan to do any investing not just only in crptocurrencey.

the only good loan to take for crypto trading is a loan for leverage by looping through lending defis or vaults. because actually it gives interest to both party.
meanwhile trading with loan from bank just means we're in a deeper hole than the other people, a lot of things need to be paid and to be able to stay sustainable we need to meet certain percent of return every month and if we can't then we're in for even more trouble.

there's simply no benefit at all that we get.

Or simply you are just that digging with your own grave if you do see yourself not to be profitable with trading yet or something we can say that you arent that still sustainable. How you would be able to repay those loans or borrowed money back? On this case, it will really be just that too impossible that you cant be able to determine in between sustainable and temporary profits or not really that sure on which this is really the usual case. Its never been that recommended that you should be doing up such step because that will be imposing that huge or bigger problem not unless if you are that responsible or having the capability on repaying those loans back without any issues.

Whenever you do make out some investment crypto market then it is really just that right that you should really be investing on what you can afford to lose so that you wont really be having any issues but if you do want to take up some further step then you should really be knowing about the risks or consequences on which this will really be the usual case to happen and this is something that you do really need to look upon.

[khiholangkang]

Well we should not ever take a loan to try to invest and make more profit from it. The crypto market is so volatile and you are already needing to make interest payments.
So if the market does go down well then you are losing your capital nd you still must make the interest payments. It is not good for us to take out a loan to do any investing not just only in crptocurrencey.

Taking a loan, of course, it is not recommended in the financial world because it will be quite disturbing, especially talking to investing in which incidentally has a high price fluctuation as you mentioned friends and it is very dangerous, but someone can get luck like gambling as long as he buys Bitcoin And keep it in the long run that in my opinion is not a problem if indeed he is able to pay it such as in one month without using the money invested in Bitcoin.

[kawetsriyanto]

I don't think that someone can call themselves as professional traders and taking a loan for margin trading in a same sentence.

They may think that they are professional but they are not. This is possible since there is no official validation when you become a professional trader.  

The very fact that someone is "professional" includes risk management, which wouldn't include loan, or doing margin trading with it for pete's sake.
That's closer to gambling, and not even professional gambling. There's a reason banks wouldn't give anyone loans for this without huge collateral, because how would you even define professional trading, when many people doing that as their day job (aka professionals) have access to non-existent latency data access. You can't really combat these guys with your laptop.

Agree. If someone has become a professional trader, he must understand the risk management. And he must know well his ability. He won't do something that probably risk himself. Even he takes a loan, he must use the loan money for a secure trading type. And he must do it because he know well how to take the profits from such trading. Regarding the banks, they will always agree for the loan as long as we have suitable collaterals.

[LogitechMouse]

If you can avoid taking loan, then avoid it. Because based on my experience, it makes things worse on my experience especially if you’re not fully prepared for the repayments. Best thing to do is only consider borrowing if you’re sure that your investment or purpose will generate more profit than the loan’s interest. Otherwise, it’s better to save up and wait. Debt can be trap if not managed wisely that is 100% leading to unnecessary financial stress. Always try to know the risks before committing to any loan.

Or better not take a loan as much as possible especially if you don't have any income source where you can use that money to pay that loan.

Saving up would be the best option and that's what I'm doing currently. I'm saving up some funds that I can use for trading because I don't want to get a loan for trading. If it's for position trading (long-term investment) then I would gladly take a loan, but for trading (scalping, swing trading, day trading) then I won't. We know how risky trading is, and getting a loan just for the sake of trading might make your life miserable.

Unless you're an expert in trading and for some reason you don't have money to use then maybe you can borrow a loan but except from that, it's a no-no. Imagine thinking of you losing your capital, and that capital came from a loan. You will feel disappointed in yourself if you lose it all plus you will also find a way to pay that loan.

[shawonngp]

What I see about bitcoin is its gonna bounce between 100-110k to 80-90k for a long time (at least until Trump takes over). I have an option to take a 2.8k $ loan from a bank and pay 3.4k $ in 8 months. (I'm gonna start paying it after 2 months so you may assume its 6 months). Should I get that loan and make 3x - 5x margin trades on Bitcoin with this strategy? I really appreciate your help. Take Care.

Securing a loan for trading is first of all a very bad investment. From my personal experience, 2020 when I was introduce to trading, after seeing all the opportunity in  trading after 3 months of learning I loaned money from my elder brother and promise to pay back is 3 months time. I loss all the money. And I was not able to pay back. I have to look for another means to pay back the money. Considering the emotional and psychological aspects of trading it is not advisable to take a loan for trading.

from experience, borrowing money to trade puts you under pressure that is enough to push you into losses. regardless of how certain you feel the trade can go, if the amount you are using is not something you can afford to lose, it is not advisable to make that kind of gamble on it. if getting profit from trades was easily like that, people would have been cashing out really big from trading. getting a loan for trading is just like taking a lone to gamble, the risk out pass the potential gain.

Yes taking loan to start trade it seems you borrowing money for betting, because you know trading is not something like that profit guarantee is 100%,
so I don't know why peoples are getting loan for trade, because they are greedy, they want to make their money 2x-5x at overnight.

[lee278701]

Yes,
Buy and hold,
Get a loan, no tax for those loan money gain,
Don't sell it, no tax again
Better than work and pay tax

[Futurexxx]

What I see about bitcoin is its gonna bounce between 100-110k to 80-90k for a long time (at least until Trump takes over). I have an option to take a 2.8k $ loan from a bank and pay 3.4k $ in 8 months. (I'm gonna start paying it after 2 months so you may assume its 6 months). Should I get that loan and make 3x - 5x margin trades on Bitcoin with this strategy? I really appreciate your help. Take Care.

First things first, I’d like to ask: can you pay off the loan if your investment doesn’t go as expected?

Assuming the answer is yes, then go ahead and take the loan.. thing is, even if Bitcoin doesn’t pump within the timeframe you’re expecting, it will likely increase over time since all these positive news factors can drive its price higher. however, keep in mind that there are no guarantees, so you’ll need to accept the risk and trust your instincts.

You have actually said it all, taking a loan with the intention of investing it into the crypto space whether it is Bitcoin or not is a stupid risk you should avoid by all means because the if things does not go as planned, you are going to be in a very tight Conner you never bargain for, or can he pay off the debt regardless of if it works or not?
If he can't pay it off on his own then it's not the right move to me, I have not even talk about the interest rate that is quite worrisome, in my own opinion this is a risk that is not worth taking because it's not his money, you invest or risk your money with money you can afford to do away with, so since it's a borrowed money, I am very sure that it's a money he can't do away with, so on that note it's best he retrace his steps and wait till he have money or he should leave it completely.

[lee278701]

To me, it is a opportunity to make money.Because I have no money, loan is my only opportunity.If the price go down to 80k, I will run away from the loan, I will buy and hold, I won't sell it when losing money, it will be a better price, I will wait
If the price hit above 100k, I will take the profit and pay off all the loan and find another lower price to do again.

What I see about bitcoin is its gonna bounce between 100-110k to 80-90k for a long time (at least until Trump takes over). I have an option to take a 2.8k $ loan from a bank and pay 3.4k $ in 8 months. (I'm gonna start paying it after 2 months so you may assume its 6 months). Should I get that loan and make 3x - 5x margin trades on Bitcoin with this strategy? I really appreciate your help. Take Care.

First things first, I’d like to ask: can you pay off the loan if your investment doesn’t go as expected?

Assuming the answer is yes, then go ahead and take the loan.. thing is, even if Bitcoin doesn’t pump within the timeframe you’re expecting, it will likely increase over time since all these positive news factors can drive its price higher. however, keep in mind that there are no guarantees, so you’ll need to accept the risk and trust your instincts.

You have actually said it all, taking a loan with the intention of investing it into the crypto space whether it is Bitcoin or not is a stupid risk you should avoid by all means because the if things does not go as planned, you are going to be in a very tight Conner you never bargain for, or can he pay off the debt regardless of if it works or not?
If he can't pay it off on his own then it's not the right move to me, I have not even talk about the interest rate that is quite worrisome, in my own opinion this is a risk that is not worth taking because it's not his money, you invest or risk your money with money you can afford to do away with, so since it's a borrowed money, I am very sure that it's a money he can't do away with, so on that note it's best he retrace his steps and wait till he have money or he should leave it completely.

[Lanatsa]

What I see about bitcoin is its gonna bounce between 100-110k to 80-90k for a long time (at least until Trump takes over). I have an option to take a 2.8k $ loan from a bank and pay 3.4k $ in 8 months. (I'm gonna start paying it after 2 months so you may assume its 6 months). Should I get that loan and make 3x - 5x margin trades on Bitcoin with this strategy? I really appreciate your help. Take Care.

Securing a loan for trading is first of all a very bad investment. From my personal experience, 2020 when I was introduce to trading, after seeing all the opportunity in  trading after 3 months of learning I loaned money from my elder brother and promise to pay back is 3 months time. I loss all the money. And I was not able to pay back. I have to look for another means to pay back the money. Considering the emotional and psychological aspects of trading it is not advisable to take a loan for trading.

from experience, borrowing money to trade puts you under pressure that is enough to push you into losses. regardless of how certain you feel the trade can go, if the amount you are using is not something you can afford to lose, it is not advisable to make that kind of gamble on it. if getting profit from trades was easily like that, people would have been cashing out really big from trading. getting a loan for trading is just like taking a lone to gamble, the risk out pass the potential gain.

Yes taking loan to start trade it seems you borrowing money for betting, because you know trading is not something like that profit guarantee is 100%,
so I don't know why peoples are getting loan for trade, because they are greedy, they want to make their money 2x-5x at overnight.

When getting a loan or borrowing up some money then it will really be that something worth or considerable at the time or moment that you do make use of this on an investment or business but on trading or gambling? that would really be a very bad decision to take, not unless if you are really that willing to repay up those loans then there would really be no issues but at the time or moment that you cant be able to repay it up or having no plans then that will really be imposing up such huge problem. This is why its really that important that you do really know at least on what are the consequences on what your actions be making. So on the question whether you do take a loan or not will really be at your own discretion.

It is really just that too impossible that you cant be able to see up for yourself whether its worth to take up a loan or not, or you can be able to repay it on time or not. You are the ones who do make out such decisions and not other people. Your situation will be basing up into those decisions you do make and if it turned out that it will be that beneficial for you, then why not?.

[qurbanshah02]

Yes,
Buy and hold,
Get a loan, no tax for those loan money gain,
Don't sell it, no tax again
Better than work and pay tax

I think there is no such thing as a loan that does not have interest because in today's era we work with interest in which we charge so much interest and tax on even a small amount which is very wrong because even if there is something to do and you are successful then it is very wrong to take or pay tax and interest.  If we take something and stop it, it also comes in interest because enough information has been found about it, due to which there is a lot of work to do something else which is good but does not have tax and interest, which will continue to earn good.