Never even trade from borrowed capital, because mental burdens and discomfort can destroy trading strategies and focus. based on the experience and those who have good trading skills, but there must be conditions where they will lose a lot of money. So it's not worth it if you borrow capital to trade in a market that has great volatility.
Actually it's the merchant's choice because I'm sure his mental burden will definitely be heavy. but if the trader is capable then just do it, after all that trader choice
Topic: If we have great ability, is capital from bank loans safe for us to use trade? - page 4. (Read 1306 times)
March 24, 2020, 12:43:24 AM
March 23, 2020, 11:13:44 PM
Don't ever take out a loan to trade or gamble. I know people personally who have done this and they are in debt because of this.
I had a friend who was broke, could only trade with like $3000. And he turned $3000 into like $9000 and then lost like half of it. So he assumed he knew what he was doing and borrowed like $10000 from a credit card because you knew he could pay it off soon. Long story short, he lost the entire account within a few weeks and had to pay off the credit card with its 20% APR interest. Worst financial decision of his life.
This is why credit cards actually stopped processing crypto exchange deposits back in 2018 because people could fall into debt if BTC crashed which is exactly what happened. And many people got burned and still owe the debt that they took out.
So never gamble with a loan.
I had a friend who was broke, could only trade with like $3000. And he turned $3000 into like $9000 and then lost like half of it. So he assumed he knew what he was doing and borrowed like $10000 from a credit card because you knew he could pay it off soon. Long story short, he lost the entire account within a few weeks and had to pay off the credit card with its 20% APR interest. Worst financial decision of his life.
This is why credit cards actually stopped processing crypto exchange deposits back in 2018 because people could fall into debt if BTC crashed which is exactly what happened. And many people got burned and still owe the debt that they took out.
So never gamble with a loan.
March 16, 2020, 12:51:57 PM
Guys, I already saw that those who take loans from banks are in bad karma. If you even take a little money from a bank at a certain percentage, even for good deeds or for investments in cryptocurrencies, you risk losing everything And even more. I believe that it is necessary to look for other opportunities to achieve the goal in order to invest some money in cryptocurrency. Bank loans are always bad.
- I disagree that bank loans are always bad, although the majority of people borrowing money from banks are falling into a bad situation but don't just look at the failure rate, look at the success rates, with the increase in capitalization, some people have a better financial background through trading, so borrowing money from a bank to trade is still possible. But of course, there is no security when we borrow money, so avoid getting into a situation where we cannot repay our debt, we should choose a loan that is suitable to economic conditions
March 23, 2020, 02:40:07 PM
Times like we have now always remind us how easily everything can change over night. So fast we found ourselves in health and medical crisis that turned also into economy one.
Don't be so sure that you will be able to cover loan and that trading will be so successful. To my opinion to take bank loan for trading is too risky, especialy in times of uncertainty like now. I beleive that this corona crisis might be trigger for world recession that is about to start.
Don't be so sure that you will be able to cover loan and that trading will be so successful. To my opinion to take bank loan for trading is too risky, especialy in times of uncertainty like now. I beleive that this corona crisis might be trigger for world recession that is about to start.
March 23, 2020, 02:02:12 PM
Personally, I do not approve of such risks. If your friend really has the ability to trade, then he can easily earn his first capital himself with $ 500, for a certain period. For example, in a year he can easily increase his capital by 10 times if he is really as good as you say about him. However, if he takes money from the bank and something goes wrong, he will fall into a debt hole from which he will get out for a very long time. Let your friend teach you how to trade, or you yourself can borrow money from a bank to sponsor a friend.
March 13, 2020, 10:40:49 AM
I google it, didnt knew tbh. ive been doing kind off that, except without a plan, i bought a little everynow and then serveral times, but i might plan it better, i will for sure
In your case, it seems to be the optimal strategy
More generally, everyone who is an ordinary office employee and receives a regular payment not related to cryptocurrencies or trading is advised to employ this strategy (provided they want to get involved with crypto in the first place). Buying a few bitcoins now and then with a fixed amount of dollars regardless of current price means buying more coins at lower prices and fewer coins at higher prices, so in the long run the breakeven point will tend to get lower and lower, even without selling anything at all
March 12, 2020, 01:43:20 PM
Its still profit i my eyes
Your eyes are deceiving you
Given the current price dynamic, you are likely to do better with monthly purchases after all, or, in more concrete terms, with a strategy called dollar-cost averaging. It is a simple strategy following which you regularly buy some bitcoins with a given amount of dollars, no matter what the current price is (hence the name). You can look it up in Google if you are interested in specifics
Yeah...with current situation and all the news, i think its too risky, even i dont feel confortable now.
I google it, didnt knew tbh. ive been doing kind off that, except without a plan, i bought a little everynow and then serveral times, but i might plan it better, i will for sure.
March 12, 2020, 01:09:41 PM
Its still profit i my eyes
Your eyes are deceiving you
Given the current price dynamic, you are likely to do better with monthly purchases after all, or, in more concrete terms, with a strategy called dollar-cost averaging. It is a simple strategy following which you regularly buy some bitcoins with a given amount of dollars, no matter what the current price is (hence the name). You can look it up in Google if you are interested in specifics
March 10, 2020, 01:58:10 PM
My idea was to make a profit with all the upcoming events, even if i had to wait and hold it for a year or more i still think thats a good solid investment, after all its btc
So how are you going to pay back to the bank?
As you won't be able to hold your bitcoins bought on borrowed money when the time is up and you will have to return the loan. I'm curious if this thought crossed your mind too. If you are going to return some other money (as you seem to imply), then the whole idea makes no sense as in that case you could just buy the bitcoins with that money right away without any loans from any banks
I would pay monthly, i work unfortunately
Thing is i dont have that amout of money to invest, even with loan plus fees, lets say btc reach like 15k its very doable right, on a 6k loan i would end up paying 7.2k on a 62month plan to the bank.
Its still profit i my eyes
Edit. I could buy btc mothly true, but the whole idea was the opurtunity. Btc current price
March 10, 2020, 01:48:32 PM
My idea was to make a profit with all the upcoming events, even if i had to wait and hold it for a year or more i still think thats a good solid investment, after all its btc
So how are you going to pay back to the bank?
As you won't be able to hold your bitcoins bought on borrowed money when the time is up and you will have to return the loan. I'm curious if this thought crossed your mind too. If you are going to return some other money (as you seem to imply), then the whole idea makes no sense as in that case you could just buy the bitcoins with that money right away without any loans from any banks
March 10, 2020, 01:36:51 PM
Im not much into trading, but actually it crossed my mind this week taking a loan to buy btc , something like 5k 6k.
Hold those 5k 6k in btc while paying to the bank, and selling it when btc reach 13k 14k.
At current btc prices do you think its a bad idea?
Hold those 5k 6k in btc while paying to the bank, and selling it when btc reach 13k 14k.
At current btc prices do you think its a bad idea?
You don't need a bank loan for that
You could just open a margin position on an exchange like Bitfinex within minutes and get done with that (and pay pennies as interest, for the record). People in this thread seem to be discussing matters (e.g. trading) which they are not even remotely familiar with. I understand when someone considers it outright a bad idea (the point that I mostly agree with, just in case), but when someone else is seriously discussing taking a loan to buy some bitcoins, that makes me cringe
Like i said, it crossed my mind.
Im not yet very confortable with trading too. I buy and hold, i got into crypto 8months ago when i was forced to be at home with a broken leg, i pretty much im holding all the little coins i have bought.
I know theres margin trading,contracts but to me thats still too dark for me.
My idea was to make a profit with all the upcoming events, even if i had to wait and hold it for a year or more i still think thats a good solid investment, after all its btc.
It would repay the loan plus i would get a decent profit.
I also know there m8ght be better choises like you said man, but im not confortable with those.
hypothetically speaking
March 10, 2020, 01:18:36 PM
Im not much into trading, but actually it crossed my mind this week taking a loan to buy btc , something like 5k 6k.
Hold those 5k 6k in btc while paying to the bank, and selling it when btc reach 13k 14k.
At current btc prices do you think its a bad idea?
Hold those 5k 6k in btc while paying to the bank, and selling it when btc reach 13k 14k.
At current btc prices do you think its a bad idea?
You don't need a bank loan for that
You could just open a margin position on an exchange like Bitfinex within minutes and get done with that (and pay pennies as interest, for the record). People in this thread seem to be discussing matters (e.g. trading, as per thread title) which they are not even remotely familiar with. I understand when someone considers it outright a bad idea (the point that I entirely support, just in case), but when someone else is seriously discussing taking a loan to buy some bitcoins, that makes me cringe
March 10, 2020, 01:05:03 PM
Im not much into trading, but actually it crossed my mind this week taking a loan to buy btc , something like 5k 6k.
Hold those 5k 6k in btc while paying to the bank, and selling it when btc reach 13k 14k.
At current btc prices do you think its a bad idea? With halving coming.
Hold those 5k 6k in btc while paying to the bank, and selling it when btc reach 13k 14k.
At current btc prices do you think its a bad idea? With halving coming.
March 09, 2020, 09:07:02 AM
Guys, I already saw that those who take loans from banks are in bad karma. If you even take a little money from a bank at a certain percentage, even for good deeds or for investments in cryptocurrencies, you risk losing everything And even more. I believe that it is necessary to look for other opportunities to achieve the goal in order to invest some money in cryptocurrency. Bank loans are always bad.
- I disagree that bank loans are always bad, although the majority of people borrowing money from banks are falling into a bad situation but don't just look at the failure rate, look at the success rates, with the increase in capitalization, some people have a better financial background through trading, so borrowing money from a bank to trade is still possible. But of course, there is no security when we borrow money, so avoid getting into a situation where we cannot repay our debt, we should choose a loan that is suitable to economic conditions March 09, 2020, 08:03:33 AM
Guys, I already saw that those who take loans from banks are in bad karma. If you even take a little money from a bank at a certain percentage, even for good deeds or for investments in cryptocurrencies, you risk losing everything And even more. I believe that it is necessary to look for other opportunities to achieve the goal in order to invest some money in cryptocurrency. Bank loans are always bad.
March 09, 2020, 08:43:22 AM
Even a trader who has 90% ability, has a Trading Plan.
One of them is "Risk Management", of course, a trader who has the ability has prepared everything from the source of funds, technical or the amount of risk that will be experienced.
And also a trader always tries to minimize the possibility of loss. If funds are traded as a result of loans from banks, it will be very risky if you experience losses, of course disturbing the psychology of these traders.
Because as good as any of his trading capabilities I'm sure everyone loses. So I think it's better to use a minimum fund, the most important thing is to be able to profit consistently.
One of them is "Risk Management", of course, a trader who has the ability has prepared everything from the source of funds, technical or the amount of risk that will be experienced.
And also a trader always tries to minimize the possibility of loss. If funds are traded as a result of loans from banks, it will be very risky if you experience losses, of course disturbing the psychology of these traders.
Because as good as any of his trading capabilities I'm sure everyone loses. So I think it's better to use a minimum fund, the most important thing is to be able to profit consistently.
March 07, 2020, 03:28:19 PM
Lol man loan is not something you’d like to get yourself into. My best advice would be that he should continue the way he’s trading and be contented with what he has. Sometimes loan is a really bad idea, I have been down that road and I will never again in my life take loan again.
Imagine you take loan and you lose it, you’re going to regret ever taking that loan, because they are going to pressure you and whatever you used as a collateral will be used as a way to recover the money for the loan you took. So I will advise you to stay clear from loan and stop giving your friend the advice to take loan, if it doesn’t work out he’s going to blame you for deceiving you.
Imagine you take loan and you lose it, you’re going to regret ever taking that loan, because they are going to pressure you and whatever you used as a collateral will be used as a way to recover the money for the loan you took. So I will advise you to stay clear from loan and stop giving your friend the advice to take loan, if it doesn’t work out he’s going to blame you for deceiving you.
March 06, 2020, 12:12:50 AM
I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital
under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from
the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum,
whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion
safe as long as we can make a profit and smoothly repay loan installments to the bank.
i usually don't support trading with a borrowed money because for me the risk of losing is doubled since you need to pay for the capital and also the Interest so the time you are trading you are thinking of higher profit to cover the loans and fees and also to gain.under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from
the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum,
whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion
safe as long as we can make a profit and smoothly repay loan installments to the bank.
but since you have mentioned Him being a great in trading?then why not try to take a loan but of course with small amount at first because there might have been Luck in his part using 500$ and may change if he uses more bigger capital?
March 05, 2020, 08:36:37 PM
In my opinion, we should never take any kind of loans to do buy something we can't afford.
We have to plan out well and think of every possible risk before actually doing it.
What if your friend takes the loan but suddenly the market crashes and he loses half of the investment.
It will turn out to be a nightmare for him.
Instead he can take out the smaller profits, save it and then use it again in future as a bigger amount to get a bigger profit.
We have to plan out well and think of every possible risk before actually doing it.
What if your friend takes the loan but suddenly the market crashes and he loses half of the investment.
It will turn out to be a nightmare for him.
Instead he can take out the smaller profits, save it and then use it again in future as a bigger amount to get a bigger profit.
March 05, 2020, 07:14:11 PM
I have a friend who has quite great trading skills, almost every trade he manages to make a profit. But I see he always uses capital
under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from
the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum,
whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion
safe as long as we can make a profit and smoothly repay loan installments to the bank.
Even if you are a great trader, as what he have said to you borrowing money from bank just to make a bigger capital is more riskier. Because not all the time you can hit the jackpot even if you have good skills in trading as we are not perfect and time will always come that we can make a mistake. under $ 500.If in my opinion he should use a large capital of at least $ 5,000 to get greater profit. I suggest to him to borrow from
the bank as trading capital, but he refused with the reason too risky and insecure. I want the opinion of you members of this forum,
whether to use capital from bank loans unsecured and risky if used trading by traders who have good skills? even though in my opinion
safe as long as we can make a profit and smoothly repay loan installments to the bank.
As a good trader, it will be good if you are patient because your small capital can easily multiply if you have patience therefore there is no need for you to take too much risk by borrowing money from the banks if you have the skills to make your small capital into a big one someday.
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