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Take a Loan to Trade?

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  • Post #61
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  • Edited May 17, 2020 6:10am May 16, 2020 3:28pm | Edited May 17, 2020 6:10am
  •  kuriisenbo
  • | Membership Revoked | Joined May 2020 | 23 Posts
I agree that Forex is a risky business, but I think only assuming the risk, you can become a successful person...That's my life principle. I am thinking about trading and I am convinced that I can succeed with that. However, as I need money for trading, I already have applied for a loan on https://credit-10.com/se/ferratum-logga-in/ and I am waiting for the answer either my application is accepted or not. I hope all will go well and I will receive the necessary money in order to begin my activity.
 
 
  • Post #62
  • Quote
  • May 16, 2020 3:33pm May 16, 2020 3:33pm
  •  HesterHector
  • | Joined Nov 2019 | Status: Member | 4 Posts
Quoting amjadali
Disliked
Forex is a risky business. So take risk may be really so risky for all traders. But I think only experiences trader can take loan for trade.But I do not prefer loan for new traders.
Ignored
but when someone seeks for success it's important to take the risk
 
 
  • Post #63
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  • May 17, 2020 12:16pm May 17, 2020 12:16pm
  •  Deepak.Dubey
  • | Additional Username | Joined Apr 2020 | 370 Posts
It's a very dangerous proposition to borrow a loan for something as risky as trading. Never mind taking a loan you shouldn't even risk all your own funds to trade.
 
 
  • Post #64
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  • May 27, 2020 4:53am May 27, 2020 4:53am
  •  Kiaraa
  • | Joined May 2020 | Status: Junior Member | 2 Posts
Taking a loan for forex trading is not a good idea for sure since there is alot of risks involved in it. It's better to start with the smaller amount first and then go for more. Hence, if you are on a good track of making profits for a long time you can think of taking loan depending on the situation.
 
 
  • Post #65
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  • Jul 15, 2020 5:07pm Jul 15, 2020 5:07pm
  •  Darkseeker
  • | Additional Username | Joined Jul 2019 | 79 Posts
I don't think taking money on credit for trading is a good idea. It's all about excitement. Traders are already worried about losing their money while trading; constant risk puts traders in a stressful state, which often causes them to make mistakes and fail deals. By taking credit, you put yourself under even more stress, which reduces your chance of success even further. I advise you to find a mini job better and invest extra money in trading, gradually gaining experience and trading your money with less stress. Another disadvantage of the loan is that in case of a failure, you will have to find the money somewhere, look for different part-time jobs, which will have an adverse impact on your future trading.
 
 
  • Post #66
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  • Jul 15, 2020 5:12pm Jul 15, 2020 5:12pm
  •  OnlineAddict
  • Joined May 2014 | Status: From $1 to Million | 8,869 Posts | Online Now
Quoting newyear498
Disliked
Would it be advisable to take out a loan and use that money to make speculative trading positions in the Forex market?
Ignored
We do take a loan everytime we open a trade with leverage higher than 1:1.
Everyone can see the chart, but only a few can actually read it.
 
 
  • Post #67
  • Quote
  • Jul 15, 2020 5:18pm Jul 15, 2020 5:18pm
  •  j12
  • Joined Jul 2011 | Status: Member | 253 Posts
I get what people are saying that this is a business & people take out loans for business's etc

Most the time in actual business you would have a tangible asset, here I don't see you have that.

So personally it's not for me to take a loan out

J12
J12
 
 
  • Post #68
  • Quote
  • Jul 15, 2020 9:16pm Jul 15, 2020 9:16pm
  •  Seneca pilot
  • Joined May 2011 | Status: Member | 1,797 Posts
Never, never, never, never, never, never, never, never, ever, ever, trade borrowed money.
 
3
  • Post #69
  • Quote
  • Jul 15, 2020 9:28pm Jul 15, 2020 9:28pm
  •  iamsovereign
  • Joined Jul 2013 | Status: Member | 859 Posts
Never, never, never, never, never, never, never, never, ever, ever, trade borrowed money.

Live today like theres no tomorrow-- Prioritize like you will die today
 
1
  • Post #70
  • Quote
  • Jul 16, 2020 2:07am Jul 16, 2020 2:07am
  •  grid.king
  • | Joined Jul 2020 | Status: Member | 24 Posts
no borrow , only play with your money

untill u expert like this and then u dont need any money to become rich
Attached Image (click to enlarge)
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Size: 131 KB
 
 
  • Post #71
  • Quote
  • Jul 16, 2020 9:06pm Jul 16, 2020 9:06pm
  •  Hyperion
  • Joined Mar 2011 | Status: Focus on the action not the outcome | 633 Posts
"scared money never wins" Here's a reason it's a "saying" (same with leverage - use a broker who charges higher initial margins and you will find you trade better)
 
 
  • Post #72
  • Quote
  • Jul 16, 2020 11:03pm Jul 16, 2020 11:03pm
  •  AndreiChi
  • | Joined Jul 2020 | Status: Member | 6 Posts
If you are beginer, i wouldnt advise to take a loan just to trade.
But if you have a succesful strategy and maybe 1y constant profitable, if you disciplined, you may consider taking a small loan.
 
 
  • Post #73
  • Quote
  • Jul 17, 2020 3:00am Jul 17, 2020 3:00am
  •  Bob99
  • | Additional Username | Joined Oct 2019 | 42 Posts
I would never recommend someone to take a loan for trading. I mean talking about the risks that this field has, I don't think it is good to stake borrowed money here.
 
 
  • Post #74
  • Quote
  • Jul 17, 2020 11:34am Jul 17, 2020 11:34am
  •  Occult
  • | Membership Revoked | Joined Jul 2020 | 24 Posts
Only trade money you can afford to lose. Trading is a risky game and the majority of traders are losers. Enough said.
 
 
  • Post #75
  • Quote
  • Jul 28, 2020 2:43pm Jul 28, 2020 2:43pm
  •  Hodges
  • | Joined Jul 2020 | Status: Member | 40 Posts
Very bad idea. Always keep in mind that in this market you can win but you also can lose. Especially speculative trades are risky. Instead of borrowing you can take leverage from broker. Still risky, so if you dont have winning strategy, better stay away from borrowed funds.
 
 
  • Post #76
  • Quote
  • Edited 4:36pm Jul 30, 2020 3:40pm | Edited 4:36pm
  •  HeyYou
  • Joined Apr 2015 | Status: Member | 1,754 Posts
yes, tell them "I'm asking for a loan to make speculative trading positions in the Forex market... I have a good strategy... I swear!"


they'll call an ambulance and take you to the hospital.
 
 
  • Post #77
  • Quote
  • Jul 31, 2020 3:49am Jul 31, 2020 3:49am
  •  Rmg
  • Joined Jan 2016 | Status: Member | 2,291 Posts
If you believe in yourself and having a +exp.value, go for it no matter what.
Don't listen to others opinion.
risk management is paramount
 
 
  • Post #78
  • Quote
  • Aug 2, 2020 7:58am Aug 2, 2020 7:58am
  •  EuroScalper
  • | Commercial Member | Joined May 2016 | 903 Posts
Quoting HeyYou
Disliked
yes, tell them "I'm asking for a loan to make speculative trading positions in the Forex market... I have a good strategy... I swear!" they'll call an ambulance and take you to the hospital.
Ignored
We need to make sure that we are hitting the markets at the correct timings. In this way our trades will become profitable.
FXOpen - True Regulated ECN Broker
 
 
  • Post #79
  • Quote
  • Aug 2, 2020 8:37am Aug 2, 2020 8:37am
  •  MashMesh
  • | Commercial Member | Joined Apr 2020 | 140 Posts
Loan for trading ?
It could be a nightmare unless you're so pro to handle the normal pressure, because while you have to pay interest for your loan and you need to get out a specific amount and then own money as well. So at the end in hurry in dealing with so much problem, you're more likely to expose yourself with MC.
 
 
  • Post #80
  • Quote
  • Aug 2, 2020 9:18am Aug 2, 2020 9:18am
  •  CindyXXXX
  • Joined Feb 2008 | Status: Member | 6,736 Posts
If you’re good enough to trade on borrowed money then you’re also good enough to build a solid amount from scratch...

Due to the leverage options currently available, its not so hard to start with $50 or $100 and build that to 2.5- 5k in a relatively short amount of time taking some pretty calculated but “ridiculous” (%) risks...

Taking 5k - 10k to 500,000 Is simply not the same thing and no human can make take that same risk with the same mindset ... well none ive met anyway

you lose $50 ... so what? thats a carton of beer... you lose 5k ... well 5k is 5k in anyones book...

... Borrowing money to trade is a bad idea... its an impatient and usually deluded concept

Prove yourself... if you don't have the capital ... prove you have the skill ... to have the capital


https://m.youtube.com/watch?v=bEea624OBzM
Time hides Nothing
 
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