No, a friendship investment is the worst thing that you can do, what if your suddenly gets mad at you? Maybe you are going to start a discussion and he can decide to steal everything from you or just start making you to lose some money. For me, it is a waste of time.
Topic: Friends investment (Read 170 times)
Hi all,
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
You face two problems in trading with funds of your friend. The first was described by you detailed and comprehensibly. This alone would be for me a reason not to trade with funds of someone else. Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
The second aspect, the more important aspect is following:
Do you trade his funds on his or your account? If you trade funds of someone else with your data, then you could maybe be responsible for taxes. I would never trade for someone else as private person. All what I do is, teach friends the basics and let them collect their own experiences.
It depends on you. You have to understand that it is a huge risk today and you only know the relationship between you and your friend. I would not say you shouldn't go ahead since you made him understand the risk involved, but you should also be very careful as well. Money is something that can cause a huge fight between friends, no matter how close you think you are or how much he really understands. Better to even put him through and let him make all the decisions by himself.
Hi all,
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
If its freely offerred dude and you already made it clear about the risks, then yeah accept it. Just be really honest and transparent woth your friend. If it was me i'd educate him.with how i'll work with the money he gave me so he's also aware of what's happening
If your friend really understand the risk of trading then go ahead and accept his offer.
Surely you will have a losing trade but if you are a skilled trader i am sure that you will have a profit at the end of the month.
Surely you will have a losing trade but if you are a skilled trader i am sure that you will have a profit at the end of the month.
When money and certain business is involved with family and friends, there seems to be a shaky understanding and trust. Though, its good to always carry your friends along in any business that might profit them but definitely not on trading on cryptos. What if the trading didn't go well and the money is gone or there where no profit; will your friend still understand? I doubt if he will. Simply explain to him that, its too risky with personal money not to talk of friends money.
I think this put you into uncomfortable situations and when you got a lot of pressure you can't have a clear mind, so I suggest to tell your friend to invest by himself and you can support him by giving advice, but all the decisions is going to be make by your friend, it's really difficult when it comes to money, even siblings can turn into enemy brcauae of money
Hey there,
My suggestion is to stay away from it mate. Your friend wants to make money from you working for him (for free?); maybe tell him to have a crack at it instead of putting undue pressure on you.
If you accept, your trades will have more pressure and it might even alter the way you think about trading, playing it more conservative, as you won't just be risking your money.
And if it goes south?
Stay away from mixing business/money with friends!
-Knightly
My suggestion is to stay away from it mate. Your friend wants to make money from you working for him (for free?); maybe tell him to have a crack at it instead of putting undue pressure on you.
If you accept, your trades will have more pressure and it might even alter the way you think about trading, playing it more conservative, as you won't just be risking your money.
And if it goes south?
Stay away from mixing business/money with friends!
-Knightly
Hi all,
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
If you value that friendship that much then dont risk it, but since you explain the risk about trading and he has no problem with it, then i guess its ok, but in the process along the road, the seed of doubt well surely grow which will slowly tearing you friendship apart. So as one of the trading advice goes "Dont risk what you cant afford to lose"
I dont think tracking is the case.
Calculating is easy since i would use same positions as with my own. So to track % in any portfolio app wouldn't be an issue
I keep most of my money in exchange's
Confidence is a main key why there's so many threads about "i lost my money why " so no, Im never too confidence with it, just acting cold and with as less emotions as possible
Calculating is easy since i would use same positions as with my own. So to track % in any portfolio app wouldn't be an issue
I keep most of my money in exchange's
Confidence is a main key why there's so many threads about "i lost my money why " so no, Im never too confidence with it, just acting cold and with as less emotions as possible
I understand your plight even in your open page. As you narrated, you don't have a problem with calculating the profit plus investment but your issue is what happens when something goes wrong with his trade and he loses
Well, I would just point at few things and number one is that, such friend that would decide or suggest to put money into you to trade on his behalf, has trust in you ; in and outside the trade.
Furthermore, another point is on the contrary. This offer granted to you is a delicate one and can lead the two of you into disagreement and the friendship might be left with a soar taste in the mouth. For me, I would hardly take up such. Thus, you can teach him how to trade or you guys can put whatever agreement you have in writing (as the lawyers would say- let it be in writing ) like a contract agreement. So, you guys can always visit your terms of agreement if need be.
Hello author! When I hear friends and money in one sentence then I sure will recommend to you refuse on all it and run away in the wood! I have some golden ruless for my life!
1. No work with family and friends
2. No lends for friends!
Friendship in one part and money in another! no any mix!
Better I give 1000$ as a preset for friend then to lent it for friend! No way!
1. No work with family and friends
2. No lends for friends!
Friendship in one part and money in another! no any mix!
Better I give 1000$ as a preset for friend then to lent it for friend! No way!
i would advise declining the offer.
it will most certainly become complicated and as you say when money is involved it can cause unnessesary problems.
to keep a good friendship going just keep the communication channels open, confer on trading stratigies and discuss new targets and moves.
let the friend trade his own funds but you will still be open with them while sharing the experience.
it will most certainly become complicated and as you say when money is involved it can cause unnessesary problems.
to keep a good friendship going just keep the communication channels open, confer on trading stratigies and discuss new targets and moves.
let the friend trade his own funds but you will still be open with them while sharing the experience.
I dont think tracking is the case.
Calculating is easy since i would use same positions as with my own. So to track % in any portfolio app wouldn't be an issue
I keep most of my money in exchange's
Confidence is a main key why there's so many threads about "i lost my money why " so no, Im never too confidence with it, just acting cold and with as less emotions as possible
Calculating is easy since i would use same positions as with my own. So to track % in any portfolio app wouldn't be an issue
I keep most of my money in exchange's
Confidence is a main key why there's so many threads about "i lost my money why " so no, Im never too confidence with it, just acting cold and with as less emotions as possible
Hi all,
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
I find the argument is more of a do I want to go through the effort to manage another persons funds as well as my own? It's difficult to track what is theirs and what is yours etc. Especially if you have money in lots of places and move it about frequently. Morally if you are confident in turning a profit then there's not much to consider.
Hi all,
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
Usually I use the rule where money starts - friendship ends but one friend of mine knows that im doing short term trading and today he offer his money not a big amount but it not all that matters, even though I said I don't want to risk not my own money, and informed him about biggest risk etc, he's still ok with all that.
I made a decent profit but we all know how easy you can loose a decent amount fast too and Im not the one who's looking for more worries in my life lol ( f that, have too much already )
Should I accept it? What would you do?
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