Have you ever traded for someone before?

[DPHOR]

This topic I am creating here was a result of what we discussed offline and I feels like sharing here to know how people would reacts as well, while with friends, among us there are others there as well which was saying that he has been trading for a while now that whatever amount given to him that he would multiply it and balance back to them. That isn't a problem but what keeps wondering is that, I have been around this forum for awhile now and I have been seeing how people do lose in trading, even to the point whereby it's advisable not to trade for anyone because you wouldn't know when you will lose the entire money completely. Perhaps,  as we were discussing one of our old time friend that he is willing to give me specific amount to trade for him that he would be satisfied with whatever returns be it weekly, monthly that he is ready. Then I told him, instead of you giving out your money for trading why not buy Bitcoin and hold since that is more safer than trading because I wouldn't want where you accused me of running away with your money maybe after I may have entered wrong trade.

However, have you traded for someone and how does it ends and where you able to meet up to the monthly/weekly returns as said by the person? Share your thoughts so we can learn.

[Strongkored]

I've done this before.
I had about five people invest their money in my trading activities, and during the bullish period, the results were excellent, but after the bear market turned negative.
However, when I checked, overall, holding was better than trading. With just 2 BTC at the time, holding should have yielded thousands of percent profit right now.

[BitMaxz]

No, I wouldn't invite anyone to trade with me or even take their money as my capital and help them to make profit; if the market is against you, your friend will end up blaming you.

Look, they didn't trust me before about Bitcoin, and I told them to, but they told me it is networking or a pyramid scheme even though I explained to them that I never take any commission because Bitcoin is a part of investment, not a pyramid scheme or networking. Until the price of BTC surged, and now they regret to what I said before. It hurts me because they thought I was a scammer, so why would I invite friends if they don't trust you? This is an investment, and trading everything here involves risk, which is what they should be thinking.
I already learned from what I told them. I better learn trading and trade for myself only; at least no one would blame me but myself.

[Nothingtodo]

No, I have not given any money to any of my friends or I have not taken money from any of my friends to trade. Trading is usually an important experience where if I take money from friends and trade, if I lose, then the relationship with the friends will be ruined. Again, if I give money to a friend and if my friend fails to give me both profit or capital, then my relationship with the friend will also be ruined. That is why I trade based on the ability to lose or lose as much as possible. However, after trading for a long time, I have understood one thing very clearly that if the amount of profit made after trading is added together, the amount of loss will be much higher for me. Rather, if I had decided to hold for the long term instead of trading, then maybe my decision would have been better and I would have owned many dollars right now.

[TheUltraElite]

The bank gives out loans to those who need it.

This is no different from a unsecure, uncollateralized loan from friends who are investing in your ability to trade.

I personally cannot take that pressure on my shoulders and I would not take part in anything like this.

Maybe during the bull market people will make profit off this scheme, but bitcoin market is unpredictable and you are carrying the risk. I think this comes from the nature of humans to be able to find a scapegoat to blame their losses on - "that guy trades bad so I lost my money" in case/when they lose their money.

[Flashift]

However, have you traded for someone and how does it ends and where you able to meet up to the monthly/weekly returns as said by the person? Share your thoughts so we can learn.

I have been active in the crypto markets for about five years. You don't always have enough capital to trade exactly the way you'd like. Because of this, I once pooled money from several of my friends to trade with. For a short period, I remained profitable and paid out their returns. However, the psychological pressure was overwhelming.
As a result, I returned their capital shortly after and went back to trading solely with my own money. I believe that if this mental pressure can be managed, it is a great idea for a professional trader to leverage other people's capital to bring a substantial amount of money into the market cycle.

[mirakal]

Back then, trading felt easier because the market was mostly moving up. Some of my friends knew I was making money from crypto, so they asked if they could give me money and let me trade for them.

I always said no. They were already expecting profit, but what if I failed or entered at the wrong time? Most likely they would blame me, and losing a friendship over money is not worth it. Even people who were not really close friends asked me the same thing, and I gave them the same answer.

Even when they only ask about investing, I always tell them to do it at their own risk. I never show only the good side because they also need to understand how bad it can get.

Trading and investing are both risky. Better to let people make their own decision after doing their own research, instead of making them expect a positive result from you.

[jcojci]

No, I never do that because the risk will be bigger for me. Not all time the market will moves according I want and many times the market changing the moves. If I can't make a profit instead losing the money, that will makes my relationship to my friends will be bad.

I will suggest them to learn trading and discuss if they doesn't know. That will be better for me because they decide by themselves and I don't interfere his trading. I suggest them to buy Bitcoin and hodl. That will be better for them and they don't have to confuse with the price movements.

[Peanutswar]

I do this frequently before if you remember when the blue chip of play to earn before which is axie, most of us breed an axie and then of course this requires an SLP, AXS so you can breed the both of axie now also you need an ETH just to buy few axies there in the market or even wETH and some of my circle are axie managers so they need some funds to transact most of us trade our hodl token from Metamask and then make a payment through fiat currencies but there is no interest were just having a base rates.

But if we talked about bitcoin so far I havent yet use to trade into other people most likely direct to an exchange into fiat.

[fighter2627]

I have not experienced any of the op said, especially in person to person or physical trade, but this is where I experienced trading digitally in bitcoin and cryptocurrency.

Through this industry, I also experienced trading other stocks and Rwa, but what I experienced so far is just for experienced,
although I get a profit but not a large amount.

[mindrust]

It is probably illegal to do that as well. If you do that, you are essentially managing someone else's money and I am pretty sure that requires a banking or brokerage license. It is also way too risky, without a license and doing it professionally, you are practically gambling using someone else's money and that usually doesn't and well. I would avoid this at all costs.

[PostQuantumBTC]

However, have you traded for someone and how does it ends and where you able to meet up to the monthly/weekly returns as said by the person? Share your thoughts so we can learn.

Trading is very risky, I have not traded for anyone before but I know two friends of mine that said that they will give me money that I should help them to trade with the money, I declined it because I know that I can lose the money. Even if I am a very good trader, I can not help anyone to trade, but if they want to learn how to trade, I can help them by teaching them, that is better than trading for them and lose the money.

[Bd officer]

However, have you traded for someone and how does it ends and where you able to meet up to the monthly/weekly returns as said by the person? Share your thoughts so we can learn.

We know that trading is very risky so it is not reasonable to manage trading with someone else's money. In fact, if you can profit by trading then your friend will thank you, but if you lose in trading then your friend will blame you, that is the reality. So you should be careful about this.

Personally, a long time ago my friend wanted to give me 500 dollars to trade and said that he would bear the profit and loss, but I did not accept it. I told him that trading is very risky so I do not like trading with someone else's money. And I advised him to invest in Bitcoin instead of trading.

[Adams0001]

Trading is very risky, I have not traded for anyone before but I know two friends of mine that said that they will give me money that I should help them to trade with the money, I declined it because I know that I can lose the money. Even if I am a very good trader, I can not help anyone to trade, but if they want to learn how to trade, I can help them by teaching them, that is better than trading for them and lose the money.

Sure, and it is not really advisable to help someone trade. It is better he should try and learn from them and make them become his mentors, so that they can be guiding him through and get some experience and knowledge that is needed in the trading section. Anytime you trade for friends or someone that don’t really get any understanding about trading, and you lose when trading for him, he will feel weak and worried because he trusted you that he can get profit without losing any funds. And trading is always a risk, no guarantee of getting profit when you trade. I always prefer to learn and understand myself without interfering with anyone or checking what I am doing.

[crwth]

I have tried it here before, and used my trading bot for it. There were times that it was okay, but I just returned it after a while because I don't really like holding somebody else's money and I feel like I'm going to be blamed for anything that happened. It's just my accountability stepping in.

If I were to do it again, I would make sure still that it's transparent on what is happening. Like the percentage of wins/losses and other sharing that trading could give.

[Oshosondy]

We know that trading is very risky so it is not reasonable to manage trading with someone else's money. In fact, if you can profit by trading then your friend will thank you, but if you lose in trading then your friend will blame you, that is the reality. So you should be careful about this.

There are some people that will not mind to trade for someone, but that is not good at all. Trading is very risky and the chance the money would be lost is very high.

There are stories of people that gave people money to trade for them, the money would be lost to trading and they will be blaming the trader. There have been one or two that we have even discussed before on this trading discussion board.

Some people will not learn until they lose money.

[Baki202]

Even with the right knowledge, nothing is guaranteed because there is a very high chance that you can lose your money, so what is the essence of trading with someone else's money when they can actually teach you how to trade? Because that way they will be responsible for their own money, and if anything should happen to their money, you will be held responsible.

And it is better for them to even start with a demo account  at least that way they don't have anything to lose because, since it's not real, that way you can gain more experience from trading. That is, even when you make mistakes, you will know you are not affected, and another thing is that when you trade for people and you don't make a profit, that can even land you in jail.

[GreatArkansas]

Lol. I thought I was the only one who experienced this kind of scenario in what OP shared. Because for me, multiple times, especially some of my friends or relatives tend to ask about what I'll trade for their money. And I always refuse it; that's how it should not work, and it's very difficult. I explained carefuly why it should not do like that, and some I tend to recommend to let them learn instead by their own so they will have responsibility on their own money.

[Yamifoud]

To lose in trading is not something new or a strange thing to happen, as it naturally goes that way.

Yeah, I tried doing some small amount, but it never went so well. I earn some, but not enough to say that it is not enough to think that I'm making a profit from doing this work. My honest take…don't focus on trading because that will disappoint you. Make it a side hustle rather than thinking of it as a source of income.

Well, working together for a veteran trader might work, but don't ever think he/she will stay and be together for long. It is better to trade alone and work on it. At least whatever happens, there is nothing to blame either.

[Big Dirams]

Lol. I thought I was the only one who experienced this kind of scenario in what OP shared. Because for me, multiple times, especially some of my friends or relatives tend to ask about what I'll trade for their money. And I always refuse it; that's how it should not work, and it's very difficult. I explained carefuly why it should not do like that, and some I tend to recommend to let them learn instead by their own so they will have responsibility on their own money.

The risk in trading for someone is actually high because we aren’t the market and we don’t even know what the market holds in the next minute and we are trying to promise someone either weekly return of certain amount when we know that profits can’t just be made each time and we can face losses during the process.
It is not a good idea to trade for someone or allow someone to trade for us because they might be hoping for profits all the time and won’t even consider the losses that are inevitable, it just a smart idea for them to trade themselves and gain more about the market than trading for them.