Take a Loan to Trade? | Page 5 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Who has ever tried to get a bank loan for trading? 57 replies

FXCM CEO Drew Niv speaks on the company’s results, Leucadia loan 0 replies

Bank loan for traders 70 replies

How to program the std indicator to take to take price from other indicator windows 0 replies

Anyone here trading AUD/USD or USD/AUD tonight regarding AUS Home Loan Report? 1 reply

Attachments: Take a Loan to Trade?
Exit Attachments

Take a Loan to Trade?

  • #81
  • Aug 2, 2020 6:33am Aug 2, 2020 6:33am
don't trade with money that you cannot afford to lose.
Uncertainty of the market must be embraced and accepted.
  • #82
  • Aug 2, 2020 6:38am Aug 2, 2020 6:38am
Quoting slb
don't trade with money that you cannot afford to lose.
actually thats more to the point Many ways to skin a cat and we’re all in different situations

https://m.youtube.com/watch?v=9DHXaGXJixs
Time hides Nothing
  • #83
  • Aug 2, 2020 6:50am Aug 2, 2020 6:50am
Quoting grid.king
no borrow , only play with your money untill u expert like this and then u dont need any money to become rich {image}

???? demo
or real
  • #84
  • Edited 7:02am Aug 2, 2020 6:52am | Edited 7:02am
the real
that is demo

i took a credit for my trade
paid everything back
have to say shares have 20 years with a good dividend
Attached Image(s) (click to enlarge)
Click to Enlarge Name: Admiral Markets MT4 (1).png Size: 267 KB
Click to Enlarge Name: Admiral Markets MT4.png Size: 201 KB
Click to Enlarge Name: RoboForex - MetaTrader 4.png Size: 108 KB
  • #85
  • Aug 2, 2020 7:17am Aug 2, 2020 7:17am
Actually I should share my own story here...


Quite a few years ago now I worked as a courier and traded of a night on the side ... Id spent a good year or two developing my system which ive posted in full on this site... “my baby”

one night I got a call from my bank and the woman said to me “you’ve been pre approved for a 20,000 personal loan...”

I never agreed with loans and kind of said thanks and bye... but over the next week started thinking about it .. the re payments were only a small % of my pay cheque and with that money I could put another zero on my trading profits...

I took the loan

over the next 6 months my system worked like clockwork and along side my job was easy to manage ... I made 100% return on my 10,000 account in 6 months and was pretty stoked with how everything was going

Long story short eventually things got heated in my job and with my trading in the back of my mind maybe I was a little too cocky when I messed up at work and sensing my bad attitude my bosses let me go ...

I thought “fantastic ” I will have more time to focus in my trading...

well 3 months later and im sooo bored sitting through the asian session all day ... psychology just was not ready for full time trading, and definitely not capitalized for it

but i no longer had my day job to cover the bills the rent the food the loan repayments so suddenly there was this added pressure to perform, to trade, to make “X” per week

Made a few really bad trades and suddenly things were pretty dire ...

I dont want to fo into what happened next ans whatever that would be a frigging book but in hindsight the worst thing i ever did was ring thy banker back to take that personal loan with trading in mind

Seemed simple enough at the time, and it was, but things have a way of falling on themself as I found.

like the previous poster said ... quite simply dont trade with what you can’t afford to lose because the market is not a steady job or an honest business.. its a beast, if you offer it your life it will take your life.. If you offer it a peanut, it can only take a peanut...

what it gives you back is not up to you


https://m.youtube.com/watch?v=u5CVsCnxyXg
Time hides Nothing
  • #86
  • Aug 2, 2020 7:33am Aug 2, 2020 7:33am
Quoting CindyXXXX
Actually I should share my own story here... Quite a few years ago now I worked as a courier and traded of a night on the side ... Id spent a good year or two developing my system which ive posted in full on this site... “my baby” one night I got a call from my bank and the woman said to me “you’ve been pre approved for a 20,000 personal loan...” I never agreed with loans and kind of said thanks and bye... but over the next week started thinking about it .. the re payments were only a small % of my pay cheque and with that money I could put another...
are you still active in trading


Inserted Video
  • #87
  • Aug 2, 2020 7:37am Aug 2, 2020 7:37am
Quoting kette
{quote} are you still active in trading
Most definitely...

I run my own business now and trade daily: h4 sort of intervals/ some session trading when i have the head space and time ... seems so easy now lol ... i used to want it too much i guess was my problem ... and i never actually understood what “it” was that i wanted..

plus i guess i was always undercapitalized in the first 7 years trading...

https://m.youtube.com/watch?v=TuELGO_-lEU
Time hides Nothing
  • #88
  • Aug 2, 2020 7:46am Aug 2, 2020 7:46am
Quoting CindyXXXX
{quote} Most definitely... I run my own business now and trade daily: h4 sort of intervals/ some session trading when i have the head space and time ... seems so easy now lol ... i used to want it too much i guess was my problem ... and i never actually understood what “it” was that i wanted.. plus i guess i was always undercapitalized in the first 7 years trading... https://m.youtube.com/watch?v=TuELGO_-lEU

I have been doing well for 6 years, no printing, simple trade or just finished nothing.
some time to develop, undercapitalized that is the point
I hope it stays that way for you


Inserted Video
  • #89
  • Aug 2, 2020 8:01am Aug 2, 2020 8:01am
Quoting kette
{quote} I have been doing well for 6 years, no printing, simple trade or just finished nothing. some time to develop, undercapitalized that is the point I hope it stays that way for you
hats off to you Kette thats a solid few years of performance you must be doing something right..

Trading these dats for me is a side income, i just don’t have the personality to make it my full time “thing”... I learned that in the hard way... trading to me is my part time artistry ... it took a long break from it and a re start to realise im not that bad at it either ...

I guess its a human thing theres only
so long an undercapitalized person can go before he feels “hard done” by the amount of effort and time
he/she has put in to any endeavor... we all want to see a result for our effort at some point ...

to build normal compounded gains from a very small account is ... well ... in human .. i think this was always my nemesis .. i always seemed to end up trying to do
the impossible, and believing i was that good ...

reward for effort .. we all need that pat on the back

Psychologically capitalization is 50% of it imo

but NOT EVERY ThIng (disclaimer lol)



https://m.youtube.com/watch?v=41ycV487WxE
Time hides Nothing
  • #90
  • Aug 2, 2020 8:06am Aug 2, 2020 8:06am
Quoting CindyXXXX
{quote} hats off to you Kette thats a solid few years of performance you must be doing something right.. Trading these dats for me is a side income, i just don’t have the personality to make it my full time “thing”... I learned that in the hard way... trading to me is my part time artistry ... it took a long break from it and a re start to realise im not that bad at it either ... I guess its a human thing theres only so long an undercapitalized person can go before he feels “hard done” by the amount of effort and time he/she has put in to...

you described everything correctly
for me you are number 1 today you have my respect

Inserted Video
  • #91
  • Aug 2, 2020 8:19am Aug 2, 2020 8:19am
for all who read here
GREED is a trader's greatest enemy
  • #92
  • Aug 2, 2020 8:24am Aug 2, 2020 8:24am
Quoting kette
{quote} you described everything correctly for me you are number 1 today you have my respect https://www.youtube.com/watch?v=Lli99OmkPwM
I appreciate that, and to have a normal conversation on this thing is a rare deal

best for you good man


https://m.youtube.com/watch?v=GwZ2y2CiwqI
Time hides Nothing
  • #93
  • Aug 2, 2020 8:38am Aug 2, 2020 8:38am
Quoting kette
{quote} I have been doing well for 6 years, no printing, simple trade or just finished nothing. some time to develop, undercapitalized that is the point I hope it stays that way for you https://www.youtube.com/watch?v=kBnJnXq4YQ8
haha

you slipped that one in there too ... too funny ... =p

get em man

https://m.youtube.com/watch?v=mnmjivkzbcQ
Time hides Nothing
  • #94
  • Aug 2, 2020 8:40am Aug 2, 2020 8:40am
Quoting CindyXXXX
{quote} haha you slipped that one in there too ... too funny ... =p get em man https://m.youtube.com/watch?v=mnmjivkzbcQ

lol
  • #95
  • Aug 3, 2020 3:41am Aug 3, 2020 3:41am
Quoting newyear498
Would it be advisable to take out a loan and use that money to make speculative trading positions in the Forex market?
No it's a very bad idea to take loan for trading. It is advised that you do trading with your idle money. The money you can afford to lose. You can lose all the money and then it will become a burden for you.
  • #96
  • Aug 3, 2020 9:13am Aug 3, 2020 9:13am
It is never possible to trade with a loan. Because there is no such thing as a 100% possibility in trading. A trader usually works on probability. Anything can happen in the market. In such a case, if your loan money is lost by trading, you will not be able to accept it in any way. And if there is some loss, you will become emotional and then you will lose your deposit completely.
  • #97
  • Aug 3, 2020 10:07am Aug 3, 2020 10:07am
Seriously, why not learn how to save money instead. that's what I did.


I can save >$500/month just by riding a bike instead of using a car; eat at home instead of in restaurants etc.

saving money is healthy for several reasons.
  • #98
  • Aug 4, 2020 12:34am Aug 4, 2020 12:34am
Quoting slb
don't trade with money that you cannot afford to lose.
That's the most basic advice for any trader. Basic yet important.
  • #99
  • Aug 7, 2020 5:01am Aug 7, 2020 5:01am
Quoting DeanLittler
It is never possible to trade with a loan. Because there is no such thing as a 100% possibility in trading. A trader usually works on probability. Anything can happen in the market. In such a case, if your loan money is lost by trading, you will not be able to accept it in any way. And if there is some loss, you will become emotional and then you will lose your deposit completely.
Yes you are absolutely right. Emotions are involved in trading. When it's the borrowed money, it puts a pressure to make money quickly and regularly which leads us to make bad trading decision.
  • #100
  • Aug 10, 2020 4:20am Aug 10, 2020 4:20am
Quote
Actually I should share my own story here... Quite a few years ago now I worked as a courier and traded of a night on the side ... Id spent a good year or two developing my system which ive posted in full on this site... “my baby” one night I got a call from my bank and the woman said to me “you’ve been pre approved for a 20,000 personal loan...” I never agreed with loans and kind of said thanks and bye... but over the next week started thinking about it .. the re payments were only a small % of my pay cheque and with that money I could put another...


Somewhere in the middle of your story, I got pretty concerned about how you could get out of this situation because it's somehow related to mine

It was basically my second month in trading and I've somehow managed to triple my first investment of 1500 dollars. I was pretty proud of myself and thought that I could do even better with more money. So I decided to pull all the money I have left ( about 5k ) and take a maximum loan I could get ( which was 25k ) and start trading big

The first month went smooth and everything was looking ok but then the pandemic started to influence the market and after a couple of particularly bad trades I and up only with half of the money I have invested.

The good decision would be to pull out all cash altogether and start preparing my debt ane step at the time. Yeah, that would be a good decision. I on the other hand decided to take another loan and try to equalize. I can hear your teeth cringe when you read that part. But I got really lucky and managed to walk out with only about 1.200 dollars in debt on my first loan of 25k. So I lost all my investment and got a little debt but its a good lesson and next time a will be smarter.

hah, and I forgot to mention that I've lost about 3-5 years thanks to the stress I lived in those days. Be careful everyone, with your loans!
Hi from Sam
0 traders viewing now