Borrow money to trade

[BItcoin Guy@]

People possibly still see trading as a get rich quick scheme and this is just too clear in their approach,

This is the truth that all traders do not want to accept. Some people get it right but only just small number of people that are getting it right. Almost all traders are thinking they can be making money from trading daily or often but they will later know that they are only deceiving themselves. The best is to hold but they will think 3 or more years before making profit is too long but which is better than trading and losses.

We will always have different perspectives about trading. We all know that trading is not easy, and it’s risky. We need to understand it better before we can start to get more experience about trading. When you come to the market just for fast money, I can say you’re not helping yourself, and that can make you lose a lot of funds. Because cashing profits won’t make you analyze well and get a better strategy. Borrowing money to trade is not really advisable, because it’s not something that you can have full guaranteed of getting the funds back. It’s not like business or investment that you can probably achieve your goal and pay back the debts.

[Big Dirams]

People possibly still see trading as a get rich quick scheme and this is just too clear in their approach,

This is the truth that all traders do not want to accept. Some people get it right but only just small number of people that are getting it right. Almost all traders are thinking they can be making money from trading daily or often but they will later know that they are only deceiving themselves. The best is to hold but they will think 3 or more years before making profit is too long but which is better than trading and losses.

We will always have different perspectives about trading. We all know that trading is not easy, and it’s risky. We need to understand it better before we can start to get more experience about trading. When you come to the market just for fast money, I can say you’re not helping yourself, and that can make you lose a lot of funds. Because cashing profits won’t make you analyze well and get a better strategy. Borrowing money to trade is not really advisable, because it’s not something that you can have full guaranteed of getting the funds back. It’s not like business or investment that you can probably achieve your goal and pay back the debts.

Trading is not easy at all and as a new trader we shouldn’t go into it with the quick money mindset because that mindset wouldn’t allow us to focus much as a new trader and such mindset won’t even let us build our knowledge more because we are just after fast money.
In trading when we are after fast money then there is high possibility of us losing during the journey or even getting liquidated during our early stages because we won’t even bother much about our risk management all we want is quicker profits so we will even take the high risk trades and want to make bigger profits at the early stage.

[Powerjumboo]

I have a friend that is a trader like me, we talk about trading very well, but he told me something shocking today which let me think that trading is gambling for some people.

He is having business and earning almost $1000 monthly, he borrowed $1500 and he will pay $1800. He borrowed it to trade and lost everything within 3 days.

Also I noticed that he is addicted to trading but he said he is not. He told me that he will not make such a mistake again, but he wants to further learning more about trading.

I have advised him. He likes using stop loss and other things that he can use not to lose, but he still lost money anyway until he lost all the money.

When he wanted to borrow, the did not tell me, I would have advised him not to borrow the money.

Trading is not an easy way to earn money that you have to trade on borrow. If trading was an easy way to earn money and there was a guarantee of profit, then in that case I would have advised trading on borrow. Since trading is very risky and there is a possibility of losing money in a moment, I do not accept trading on borrow on the trading platform at all and I do not want to advise anyone to trade on borrow. Your friend may be addicted to trading, due to which he borrowed $1500 from someone despite earning $1000 per month and has to pay $1800 to repay. He started trading imagining that, which is why it is easy to understand that he is addicted to trading.

[Just Say]

I have a friend that is a trader like me, we talk about trading very well, but he told me something shocking today which let me think that trading is gambling for some people.

He is having business and earning almost $1000 monthly, he borrowed $1500 and he will pay $1800. He borrowed it to trade and lost everything within 3 days.

Also I noticed that he is addicted to trading but he said he is not. He told me that he will not make such a mistake again, but he wants to further learning more about trading.

I have advised him. He likes using stop loss and other things that he can use not to lose, but he still lost money anyway until he lost all the money.

When he wanted to borrow, the did not tell me, I would have advised him not to borrow the money.

Trading is not an easy way to earn money that you have to trade on borrow. If trading was an easy way to earn money and there was a guarantee of profit, then in that case I would have advised trading on borrow. Since trading is very risky and there is a possibility of losing money in a moment, I do not accept trading on borrow on the trading platform at all and I do not want to advise anyone to trade on borrow. Your friend may be addicted to trading, due to which he borrowed $1500 from someone despite earning $1000 per month and has to pay $1800 to repay. He started trading imagining that, which is why it is easy to understand that he is addicted to trading.

If inexperienced traders borrow for trading purposes, then that is a high risk strategy that your friend has adopted, but it is true that he is still learning but this person has taken a huge risk in the early stages of his trading and the borrowed amount is more than his monthly income. I think that instead of trading with such a huge amount of money, the OP's friend should first try to increase his experience through a demo account because he will be able to test the market and test trading strategies and even learn how to use the platform with virtual money.

Being addicted to trading is dangerous because my opinion there is a blind obsession to recover previous losses, which is why the person mentioned here borrowed $1,500 to trade despite earning $1,000.

[ChocolateBitcoinK]

I never borrow to trade and I only trade with a portion of the capital that I can afford to lose. Borrowing to trade is indeed very risky, especially if the person does not have much experience in trading.

Trading, if it is not based on sound knowledge, a clear strategy, and the use of necessary tools such as stop-loss orders, is more like gambling, and even if it wins some trades, it will most likely end up being a loser.

I consider trading with debt to be a complete gamble. What does it mean that you are deciding to take a loan to trade? That is, you are sure of your profit, you are sure that you will definitely make a profit here. But is it realistic to have such a mentality? No matter how skilled you are in trading, is such a decision ever right? Even a very skilled trader faces a lot of losses, they can never guarantee profit from trading, so where there is no guarantee of profit, there is no 100% certainty, so how can you decide to trade with debt? Such an act is very risky which can destroy your normal situation, because in such a situation, if there is a loss, first of all you will become a debtor and at the same time your emotion to recover for such losses will be even deeper, because it was your borrowed money, there will be no condition to accept that loss, because you have to repay this debt, but you have lost money. That is, the situation can get so bad that it is extremely dangerous, which is why trading with debt should be completely ignored, and trading should be done realistically.

[batang_bitcoin]

@OP don't tell this to the other people that surrounds you to protect your friend. Because they might take advantage of him and will start a lending business and mainly focusing on him as their priority customer. Owing $1500 and paying $1800, that's easy money and business for the lender. A 20% mark up for a short period of time might drive them with greed. Going with your friend, even you tell your him to stop loss, it's no longer about his trades but him as someone who has already lost grip to himself and can't control anymore. He's going to continue that and will lose more money.

[Makus]

First of all, how long has your friend been trading and what is his trading plan like, I'm asking because a trader that's strategic would not just lose such an amount or trade carelessly with it just within 3 days or perhaps he was under the pressure of trying to pay back the money on time I guess that's the reason why he ended up losing, trading under duress or emotions can be very risky.

We all have bad experiences but borrowing to trade is a line that no one should ever Cross. It doesn't even matter if you think that you are a good trader, don't put yourself in a precarious situation that would affect you. Always trade with whatever amount you have.

[Doll2233]

Emotions and greediness always encourage jumping into the ocean from where return has never been easy or even extremely difficult; trading has never been for people who have no good strategy and understanding of risk management because just early good results never help to keep things on balance.
Usually people watch influencers or nearby relatives/friends and then want to copy them for having luxurious styles, but this never works for everyone. There is too much argument about addiction or gambling. Things are always on the same level in these because addiction encourages borrowing money and taking risks, but having not enough understanding and emotionally trading brings things to a level where there is no way of return.
In trading, it is always recommended to just invest what you can afford to lose because without a backup or good control, you will never win in this.

[Russlenat]

There is no assurance and security with future profits in trading, so why should a trader suicide in borrowing money? In fact, it will only worsen the scenario if the trade ends as a loss because the loan interest itself will continue to grow and create more pressures on part of the borrower, but even if that money is borrowed from a friend or colleague, still that's a wrong move.

Everyone is losing from trading so don't increase the pressure to lose your trade by thinking how to pay back on that loan. Trade with your own money on something that you are comfortable of losing, not other people's money.

[Olatundespo]

An addict will never admit that he is addicted. Any addiction to gambling or trading can be dangerous. If a trader take loan for trading, his risk will increases so much because the market is volatile and can fall at any time.
Your friend took out a loan in the hope of making a potential profit, which was at a high interest rate. This strategy greatly increased his potential risk. If he had always taken into account the fact that the market would fall, your friend would never have traded with a loan.

There are many reasons why that person is addicted to trading, one of which is that he is greedy or that he has lost a lot in the past. He is taking risks to recover that lost money, just as gamblers take risks to win. Do not trade with a loan because this will multiply your losses.

[Abdulzuruku01]

Trading is not easy at all and as a new trader we shouldn’t go into it with the quick money mindset because that mindset wouldn’t allow us to focus much as a new trader and such mindset won’t even let us build our knowledge more because we are just after fast money.
In trading when we are after fast money then there is high possibility of us losing during the journey or even getting liquidated during our early stages because we won’t even bother much about our risk management all we want is quicker profits so we will even take the high risk trades and want to make bigger profits at the early stage.

If trading was that easy to make a quick money, honestly I don't think anyone would be left out. People make trading look like where you can just be cashing out, without getting the proper knowledge of it. And that's why the beginners who enter trading with that mindset easily get affected. Do you know there are scammers working behind the scenes of fraudulent activities and making fool of people that they are into trading whenever they are being interviewed for the source of their money? This is what's actually going on in my community, because these scammers already know people's think trading is always a place where people you can make a quick money.