Topic: Other Alternatives to Borrowing Money to Start Trading (Read 567 times)

A newbie should never take a loan or borrow money only to start his trading career because that is a big mistake. Someone who doesn't know anything about trading has never done it, doesn't even know much about the markets and their behaviors, that person will only need to learn the things at first, I wouldn't even recommend investing $10 but training and learning should be done using demo accounts.

One of the most important aspects of trading is patience, someone who doesn't have that can never get successful in trading because when you get into trading, there will be a lot of occasions where you will need to be patient and don't take hasty decisions.

There are so many ways of making money in crypto that I agree with people not starting off with debt, it would not be a smart way considering newbies would not be able to make much money to begin with. Trading is hard, you can work on it a decade and it will be still hard, it's really not that easy to handle.

It means that we are not going to see a lot of newbies making profit and they should not start off with a debt. However, if they end up with something better, like making money based on their work, then they can use that income to just trade. You can make anything from 150 dollars to 500 dollars just from signature alone, that requires you to be here for a while but if you do that, that is monthly money you could invest, a ton of money if you know what you are doing.

Even if you dont really have that IT-related skills which you could really still possibly be able to make some money here on this space on which you could really engage up on some jobs which does really just need up that kind of simple basic ideas or knowledge on which you could easily be able to caught up with. Just like on my case on which i do make money on signature campaign and with some simple tasks online which does pay up crypto on which this is would really be that a significant amount on which you could really be able to start up trading but of course it would really be depending if you are
really that sensible when you are thinking about possible additional income.Yes, its never been good on borrowing for the sake of capital but if you dont really have any choice or option
then its up to you if you could bare up the risks when it comes to borrowing money and its your choice to make, as long you've been aware on your obligations on repaying it back
then its up into your choice whether you should be going on or not.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

A newbie should never take a loan or borrow money only to start his trading career because that is a big mistake. Someone who doesn't know anything about trading has never done it, doesn't even know much about the markets and their behaviors, that person will only need to learn the things at first, I wouldn't even recommend investing $10 but training and learning should be done using demo accounts.

One of the most important aspects of trading is patience, someone who doesn't have that can never get successful in trading because when you get into trading, there will be a lot of occasions where you will need to be patient and don't take hasty decisions.

There are so many ways of making money in crypto that I agree with people not starting off with debt, it would not be a smart way considering newbies would not be able to make much money to begin with. Trading is hard, you can work on it a decade and it will be still hard, it's really not that easy to handle.

It means that we are not going to see a lot of newbies making profit and they should not start off with a debt. However, if they end up with something better, like making money based on their work, then they can use that income to just trade. You can make anything from 150 dollars to 500 dollars just from signature alone, that requires you to be here for a while but if you do that, that is monthly money you could invest, a ton of money if you know what you are doing.

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I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10.

Normally taking a loan to trade is not a good idea because of the volatility of the market and it is not even good for beginners to have the habit of taking loan, it is better for them to start with their reserves, a small amount they can afford to lose. A beginner planning to take a loan to invest is only making plans to make money from trading at all cost and it is only greed that will trigger a beginner to take loan to start up trading. Every beginner should stay away from loan for trading, it is not a good start for beginners to pick interest in loan.

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Quote from: lalabotax on May 25, 2023, 04:56:28 PM

I wonder why many prople are considering to start borrowing money to invest in cryptocurrency. This is high risk. Do they always think that investing in crypto will always earn much money? It is probably. But what kind of obstacles and ptoblems to meet if using money from the loans to invest. Moreover if we must pay the debt monthly. This will be high risk. It means that we force to invest more than we can afford, doesn't it?

well, that's a natural thing if we look at human nature, which always wants to get lots of profits instantly. However, the OP's case is that the money borrowed can be returned within one month, so it's not too risky if he has another job to repay the loan. it is sometimes done by people who want to immediately take a chance in trading, or people who can't wait to learn and make a lot of money. however, I think the wisest thing is not to need to borrow if he can pay off the loan within one month. he should study the movement of the chart first, before he actually has the money without borrowing.

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Quote from: Falconer on May 25, 2023, 02:15:37 PM

As some users have said, making loans for trading purposes is a high risk as long as they are not experienced traders and experts in their field. In fact, I believe an expert in trading will also be very overwhelmed adjusting his trading strategy when prices don't move in the direction they analyze, so the risk of bad loans plus trading losses will only make the trader's psychology worse.

Without a loan trading budget should also be considered a high risk activity. Price volatility is very erratic because prices can move in both directions unexpectedly. Market trends can change in a short time even in the last 24 hours the price has shown a positive side.

Psychology will indeed get worse when the initial loan becomes a loan that gives a lot of burden. Those professionals may still be able to cope, but if rookies do this kind of thing, they're just trying to get into a big hole and never get back up.
When it is necessary to trade using borrowed money, then the profit target must also be achieved to pay loan installments, this also needs to be done by management to regulate how much money will go into trading. do not enter everything, because it will be very risky to lose.

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Quote from: LogitechMouse on May 25, 2023, 02:31:17 AM

For newbies?? Are you sure about that?
Do you think that newbies can make their 10$ into 100$? Do you think that they can make their initial capital x10 knowing that they're just newbies.

I'm not saying that newbies have the same experience, but when I was a newbie, I'm very prone to FOMO's, and pump and dumps. It's because I was a newbie at that time, and I don't know anything about technical analysis, or trade base on what are the latest news. I'm pretty sure that newbies can't do that easily, so don't daydream.

Well, trading for 10$ as a newbie is a good way to kickstart your trading journey already, but don't expect to have good results on that one. Most of the time, you will incur losses because of you lacking of experience. Is there any alternatives that I know? Maybe just work harder, earn more money, and use that money to trade. I don't recommend borrowing money just to trade as well unless that loan can be paid within a month or 2.

A newbie should never take a loan or borrow money only to start his trading career because that is a big mistake. Someone who doesn't know anything about trading has never done it, doesn't even know much about the markets and their behaviors, that person will only need to learn the things at first, I wouldn't even recommend investing $10 but training and learning should be done using demo accounts.

One of the most important aspects of trading is patience, someone who doesn't have that can never get successful in trading because when you get into trading, there will be a lot of occasions where you will need to be patient and don't take hasty decisions.

Its never been recommendable even if you aren't a newbie because we do know on what are the imposed risks if we do take a loan? We do know that we do have some responsibility which we do need to be dealing off with and if you are someone who isnt really that financially sustainable or something capable then its better to avoid on getting a loan as much as possible. Unless if you are really that able to repay it on time or simply we do talk about on being a good payor then it wouldnt really be an issue but if not then better not to proceed because you would really be just making yourself that miserable.
This is why as much as possible it would really be that better if we dont really take any loans or whatsoever on starting up on our trading journey because this would really be involving lots of trials and errors
on which it would really be that sensible that using up a loaned money is never been that a good idea.

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Quote from: LogitechMouse on May 25, 2023, 02:31:17 AM

A newbie should never take a loan or borrow money only to start his trading career because that is a big mistake. Someone who doesn't know anything about trading has never done it, doesn't even know much about the markets and their behaviors, that person will only need to learn the things at first, I wouldn't even recommend investing $10 but training and learning should be done using demo accounts.

One of the most important aspects of trading is patience, someone who doesn't have that can never get successful in trading because when you get into trading, there will be a lot of occasions where you will need to be patient and don't take hasty decisions.

Most of the time people do not realize how difficult something is until they try their hands at it, many newbies begin to trade the markets without using a demo account first, this gives them a false idea that trading is incredibly easy, if they instead took the time to trade the markets with a demo account they will soon realize they are in the red most of the time, and this could be an eye opener for them as they will understand that trading is way more difficult and they need to make a huge effort before they get to see any profits.

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For newbies?? Are you sure about that?
Do you think that newbies can make their 10$ into 100$? Do you think that they can make their initial capital x10 knowing that they're just newbies.

I'm not saying that newbies have the same experience, but when I was a newbie, I'm very prone to FOMO's, and pump and dumps. It's because I was a newbie at that time, and I don't know anything about technical analysis, or trade base on what are the latest news. I'm pretty sure that newbies can't do that easily, so don't daydream.

Well, trading for 10$ as a newbie is a good way to kickstart your trading journey already, but don't expect to have good results on that one. Most of the time, you will incur losses because of you lacking of experience. Is there any alternatives that I know? Maybe just work harder, earn more money, and use that money to trade. I don't recommend borrowing money just to trade as well unless that loan can be paid within a month or 2.

A newbie should never take a loan or borrow money only to start his trading career because that is a big mistake. Someone who doesn't know anything about trading has never done it, doesn't even know much about the markets and their behaviors, that person will only need to learn the things at first, I wouldn't even recommend investing $10 but training and learning should be done using demo accounts.

One of the most important aspects of trading is patience, someone who doesn't have that can never get successful in trading because when you get into trading, there will be a lot of occasions where you will need to be patient and don't take hasty decisions.

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Quote from: lalabotax on May 25, 2023, 04:56:28 PM

I wonder why many prople are considering to start borrowing money to invest in cryptocurrency. This is high risk. Do they always think that investing in crypto will always earn much money? It is probably. But what kind of obstacles and ptoblems to meet if using money from the loans to invest. Moreover if we must pay the debt monthly. This will be high risk. It means that we force to invest more than we can afford, doesn't it?

That's because they think that borrowing money can provide the fastest solution to having money so they can immediately invest in crypto. They did that because some of their friends could make a lot of money investing in crypto, so they thought it was easy.

But if they can think and research in more detail, it will never be easy and they even risk losing if they can't find a coin to invest. They also have to think about how they can return all the loan money every month or later within a certain period.

Hopefully, those who haven't borrowed money can think more about the pros, cons, and risks they will face. And if they have convinced themselves that borrowing money is a path they can take and are ready to take the risk, they can borrow money and start investing in crypto.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10 instead.

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

Borrowing money to begin your journey should never be an option, in a way I understand that someone that is just discovering the market now is excited about the possibility of making money with bitcoin.

But this is not the way to go about this, and there are several reasons for that, to begin with the rate of success for new traders is very low, also this attitude will foment impulsive behavior as you are trying to earn more money than what you could earn under normal circumstances, and finally you will affect your finances which could delay even further your reentry point to this market as you will have to pay the debts in which you incurred.

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Quote from: adaseb on May 20, 2023, 11:59:58 PM

The reason why nobody lends any money to traders is because since they are asking for a loan means they don’t know how to trade. Since they don’t know how to trade they will lose that money and won’t pay you back.

As funny as this sounds, it is accurate because it is humanly expected that when one request a loan to start a trade, it should start making profit after the launch.
Most businesses mostly those involving trade, might take time to mature and start yielding profit. This is however not thought about.
Also there's the case of if the trader has done any business or trade before or has done a similar line of trading before this.

For those who think to take out a loan and start a business or trade is practical, keep in mind the duration to payback, because within this time, so many factors and variables will be at play.

The other alternatives may include one getting a job or part time hustle to save up for a duration.
Could make a formal plan on how to succeed in the trade, incase a likely loaner who might be a friend decides to help.
Ask yourself if you have collateral equivalent incase the loan can't be easily paid back.
Try loan apps or join a group cooperative where the members know themselves and contribute a certain quota to help themselves incase such need arises.

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I wonder why many prople are considering to start borrowing money to invest in cryptocurrency. This is high risk. Do they always think that investing in crypto will always earn much money? It is probably. But what kind of obstacles and ptoblems to meet if using money from the loans to invest. Moreover if we must pay the debt monthly. This will be high risk. It means that we force to invest more than we can afford, doesn't it?

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Quote from: Questat on May 25, 2023, 04:07:39 PM

It is not easy to use $10 to make $100 in trading, even if you gain and include the profit in the next trading or position your opened. One of the disadvantages of this is that once there is loss, it would be more because the profit is included. I see this as a way to greediness and a way to lose.

If you want to trade, you have to gain and set aside your profit, or you can set aside some of your profit which you will not be using for trading.

And even we have patience but can't take it longer as it takes several months, and later on, we still give up trading.

Well, the best thing I see is to wait to have enough capital before starting trading. Because $10 is nothing, what we can buy from that is just shitcoins, maybe $50 is a little bit better. Not that I suggest OP take a loan but I think that is the best option as long as we also have another source of income when in case our trades fail, we are still able to repay it.

We are humans which we do really have that different level of patience on which we could neither do wait up for too long or we would really be just liking to see some immediate result or outcome on a short time.

This is actually according into your own risks management on which if you dont have the money to start up on trading or you wont like for it to be small then you could always opt on taking up a loan but of course you should really be that responsible on repaying back in time if you wont like for possible problems. The difference on using up your own money is that on the time that it would lost, you are the ones who would lost money and there's no responsibility that you would be needing to solve on, unlike when you do take up some loans and if in case you had lost a trade then you would really be still needing
to pay it up or simply there's no exemptions into that.

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Quote from: AakZaki on May 25, 2023, 12:14:21 PM

It is not easy to use $10 to make $100 in trading, even if you gain and include the profit in the next trading or position your opened. One of the disadvantages of this is that once there is loss, it would be more because the profit is included. I see this as a way to greediness and a way to lose.

If you want to trade, you have to gain and set aside your profit, or you can set aside some of your profit which you will not be using for trading.

And even we have patience but can't take it longer as it takes several months, and later on, we still give up trading.

Well, the best thing I see is to wait to have enough capital before starting trading. Because $10 is nothing, what we can buy from that is just shitcoins, maybe $50 is a little bit better. Not that I suggest OP take a loan but I think that is the best option as long as we also have another source of income when in case our trades fail, we are still able to repay it.

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Its not easy imagine earn profit consistency every day 10$ or 10% from borrowing money with $100, I don't sure has chance for OP or beginner when using option take borrowing for investing or trading in cryptocurrency. Seems huge expectation with profit 10% every day in cryptocurrency because price of bitcoin not stable and moment drop drastically need longer time for recovering.

I don't sure with your ideas exactly sharing to newbie for borrowing money and investing in Bitcoin, not guarantee in daily day profit and difficult for them how to payback with borrowing money when price drop. Better learn step by step about cryptocurrency investment or want to trade in some altcoin assets before borrowing money with higher risk waiting for how to pay back and has loan interest.

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Borrowing money just to trade is indeed risky, especially if trading knowledge doesn't really understand and only capitalize on other people's words. Not recommended for borrowing. it is better to trade with the ability of the funds you have. When you have to borrow, you really have to be aware of the bills that will be paid every month and the ongoing interest. if you don't profit from trading, it will be an additional burden and will pay you nothing.

As some users have said, making loans for trading purposes is a high risk as long as they are not experienced traders and experts in their field. In fact, I believe an expert in trading will also be very overwhelmed adjusting his trading strategy when prices don't move in the direction they analyze, so the risk of bad loans plus trading losses will only make the trader's psychology worse.

Without a loan trading budget should also be considered a high risk activity. Price volatility is very erratic because prices can move in both directions unexpectedly. Market trends can change in a short time even in the last 24 hours the price has shown a positive side.

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Quote from: Cling18 on May 21, 2023, 09:38:06 AM

We should never in any way think of borrowing money from people just to satisfy our curiosity of getting into trade when we know that we don't have the fund to sustain usbif we finally lose the money that we are using to trade. Trading is very risky so we should not borrow money from any source and trade since the market so we cam trade when we can try and hustle and make some cash so we can use it to trade the market and make some funds that we can use to to trade bigger in the market without having any problems.

Borrowing money just to trade is indeed risky, especially if trading knowledge doesn't really understand and only capitalize on other people's words. Not recommended for borrowing. it is better to trade with the ability of the funds you have. When you have to borrow, you really have to be aware of the bills that will be paid every month and the ongoing interest. if you don't profit from trading, it will be an additional burden and will pay you nothing.

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I agree with the idea of selling your possessions or spending your hard-earned money to raise the necessary funds. It is preferable to utilize only funds that we can afford to lose in order to avoid the consequences of borrowing in the future. It would be preferable to trade without fear of not being able to repay our debt because we could concentrate on our primary purpose.

Yes that's the truth, If you're finding it difficult to get capital, selling your liability is just one solution and you can also sell some assets as sacrifice to get capital to start up. At the end it'll be worth it. You can raise enough profits that you can buy back all you sold to rise that capital. When you use your personal funds as capital you don't get yourself under pressure.

If you lose all the money, you don't have to pay anyone and you learn a lesson form that experience although you'll be very careful because you know what it took you to to raise that capital that you're using now to trade. Borrowing money to trade is a very wrong way to start.

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Quote from: LogitechMouse on May 25, 2023, 02:31:17 AM

Quote from: alastantiger on May 20, 2023, 10:55:56 AM

~
For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

For newbies?? Are you sure about that?
Do you think that newbies can make their 10$ into 100$? Do you think that they can make their initial capital x10 knowing that they're just newbies.

I'm not saying that newbies have the same experience, but when I was a newbie, I'm very prone to FOMO's, and pump and dumps. It's because I was a newbie at that time, and I don't know anything about technical analysis, or trade base on what are the latest news. I'm pretty sure that newbies can't do that easily, so don't daydream.

Well, trading for 10$ as a newbie is a good way to kickstart your trading journey already, but don't expect to have good results on that one. Most of the time, you will incur losses because of you lacking of experience. Is there any alternatives that I know? Maybe just work harder, earn more money, and use that money to trade. I don't recommend borrowing money just to trade as well unless that loan can be paid within a month or 2.

As a beginner, of course you need to be realistic and don't expect to make profits many times over,
this is crypto where the risk is very big and it takes a lot of experience to trade or invest,
it's better to focus on learning both knowledge and skills I think it's much more important.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

~
For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

For newbies?? Are you sure about that?
Do you think that newbies can make their 10$ into 100$? Do you think that they can make their initial capital x10 knowing that they're just newbies.

I'm not saying that newbies have the same experience, but when I was a newbie, I'm very prone to FOMO's, and pump and dumps. It's because I was a newbie at that time, and I don't know anything about technical analysis, or trade base on what are the latest news. I'm pretty sure that newbies can't do that easily, so don't daydream.

Well, trading for 10$ as a newbie is a good way to kickstart your trading journey already, but don't expect to have good results on that one. Most of the time, you will incur losses because of you lacking of experience. Is there any alternatives that I know? Maybe just work harder, earn more money, and use that money to trade. I don't recommend borrowing money just to trade as well unless that loan can be paid within a month or 2.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10 instead.

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

I actually don't agree with the borrowing system to start a trade, whether it's in crypto assets or trading in other assets. Although this opinion is certainly a lot of people who agree, but surely there are also people who do not agree with my opinion. Because borrowing money to trade in crypto, I'm sure many will agree, that this is very risky. Especially in crypto that is not bitcoin (altcoin), it will definitely be very high risk. But that doesn't mean that people who borrow money to trade in crypto will all end badly. Because not a few people do this and get benefits. But it's just, doing so comes with a much bigger risk, than trading with cold money. So borrowing money to invest in crypto, is actually an option, when you really don't have capital, or you want to increase your capital to trade crypto, and doing this is definitely not in a safe zone.

And if I am asked to choose, borrow money to increase capital, or trade with the money that I have, I will definitely choose to trade in crypto with sober capital money. Even though it takes a lot of patience to make a profit, the most important thing is that I'm in a safe zone.

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Quote from: ShowOff on May 24, 2023, 02:13:29 AM

Quote from: ethereumhunter on May 24, 2023, 12:18:22 AM

You should be aware of how good your ability to trade first before you decide to borrow money because many of us don't recommend it. If your skills in trading are good enough and you can analyze the market well, maybe borrowing money to trade will be a good decision so you can do it. But if not, you don't need to borrow money and should keep learning more about trading so that you have your skills ready the next time you want to borrow money. It will not make it difficult for you to make a profit to pay off the loan. And you already know that trading takes time because market conditions are not always good, especially now that market conditions are bearish.

Honestly avoiding loans for trading purposes is recommended, but someone can get loans for his investment plans if the timing is right. The problem is that everyone has to consider all the risks involved in investing, including security and price volatility, even if they can guarantee regular payments of their monthly income/salary, the risks must be considered.

The OP offers an option that looks like saving $10 over a period of time instead of making a $100 loan. I agree with his investment strategy which may also look the same as accumulating a budget and doing DCAing on the assets he chooses. This of course can avoid the risk of bad loans, but of course some of them can also get loans for their investments.

Most people don't consider the risk and just fill out a form to borrow the money so they can't see how much risk they can take later. And they should be able to manage their finances better than their salary because they can channel it to meet their living needs, while they can also prepare a certain amount of money to pay off the loan every month if they end up taking out a loan.

I prefer to do DCA by saving $10 in bitcoin instead of borrowing $100 because by doing so, we can reduce the risk of repaying the loan. Apart from that, he doesn't need to think about unnecessary loans and only focuses on raising more Bitcoin through that DCA.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

Compounding certainly feels like a good idea, not one of the worst but much more better than the taking a loan. Although, it makes certain requirements of you, that you be good in your trades enough to make the profits you need from a $10 trading capital to be the equivalent of your desired capital for starting trading. J don't know how that is doable but, you could try!
It would take a professional trader with minimal mistakes or trading errors to come by such mistake and many more than most would often have a trading capital more than a $100 to trade with.

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Quote from: Finestream on May 24, 2023, 04:59:28 PM

It is not easy to use $10 to make $100 in trading, even if you gain and include the profit in the next trading or position your opened. One of the disadvantages of this is that once there is loss, it would be more because the profit is included. I see this as a way to greediness and a way to lose.

If you want to trade, you have to gain and set aside your profit, or you can set aside some of your profit which you will not be using for trading.

You’re right with this. Compounding is not as easy as it is unlike OP says. It takes a lot of patience of waiting for positive outcome, and you could just end up ruining all your profits if you stick to this idea. Taking a loan on the other side is not advisable too, once your trades lose, then you will struggle for sure on how to pay for your loan. Good thing if you have a job to pay for it, but even so, I would not suggest new traders to take a loan and trade. Just save and when you’ve got enough funds that you can afford to lose, then you can start your luck in trading.

The thing here is that not all does have the patience for them to wait until they do have that enough funds for them trade on, because on the time that they would really be able to see on what are the benefits of doing trading then it would be that impossible that for you not to have that kind of interest kicking in or spark up and you would really be liking to test it right away without even trying out to remind yourself that it isnt something that not risky to deal off with but rather its the opposite. Compounding is really indeed possible but its true that this one would really be taking lots of time and effort before you could be able to reach out that certain state.

Borrowing or taking a loan is never been recommendable, as much as possible you should really be providing your own capital out of your earnings or income but of course it would really be just that a small amount
or something that you could afford to lose because trading isnt really a guaranteed profit on the time that you would engage because we know that trading is never been that so simple.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

It is not easy to use $10 to make $100 in trading, even if you gain and include the profit in the next trading or position your opened. One of the disadvantages of this is that once there is loss, it would be more because the profit is included. I see this as a way to greediness and a way to lose.

If you want to trade, you have to gain and set aside your profit, or you can set aside some of your profit which you will not be using for trading.

You’re right with this. Compounding is not as easy as it is unlike OP says. It takes a lot of patience of waiting for positive outcome, and you could just end up ruining all your profits if you stick to this idea. Taking a loan on the other side is not advisable too, once your trades lose, then you will struggle for sure on how to pay for your loan. Good thing if you have a job to pay for it, but even so, I would not suggest new traders to take a loan and trade. Just save and when you’ve got enough funds that you can afford to lose, then you can start your luck in trading.

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I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it.

I don’t know why some people think taking loan is an option in trading, I don’t recommend anyone that want to trade or invest in bitcoin to take loan, anything that will make you take loan because you want to invest or trade, then you should have another source of income incase if the trade goes side way and you lose money, you will be able to pay back the loan even if it’s going to affect you, but to be honest loan is not always an option in trading.

I don’t know if those people are new in cryptocurrency or they have stayed long, if they are new, then the shouldn’t go close to loan and they should just start trading with very little amount.

Quote from: alastantiger on May 20, 2023, 10:55:56 AM

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

When you are trading with $10, how long will it take you to make $100, am sure it won’t be a easy task, you have to multiply your money by 10 times, i don’t know how they will be able to accumulate that amount of money, because they might still end up losing from the $10 when they enter a trade. If you want to start learning how to trade with $10, it’s really nice but don’t expect any reasonable profit.

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Quote from: Mpamaegbu on May 23, 2023, 04:46:49 AM

Quote from: alastantiger on May 20, 2023, 10:55:56 AM

According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it.

I quite agree that's it's not a good idea to get a loan to fund trading. However, if the borrower has a mean to pay back that loan within a month, I would advise them to take the loan. It will fast track the trading process. I'm one who don't believe in keeping money in the bank while there's an investment to use it for. The idea of compounding $10 isn't a wise one, considering that the profit margin of such a small capital will be infinitesimal and may even take weeks of unnecessary stress trading to get up to $200. Given both scenarios, I will pick the loan option.

I have to agree with this too. Taking a loan is not wrong as long as you are capable to pay for it. However, do not take a loan that is above your income so that you can easily pay for it. And when it comes to trading, it’s always a wise one to start with small funds and when you are making significant profits already then you can increase your trading size. On one hand, i cannot agree with compounding as it’s susceptible to more losses including the profits that you will gain too, much better to take a loan than to resort into compounding.

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Quote from: lixer on May 24, 2023, 01:06:30 PM

Quote from: alastantiger on May 20, 2023, 10:55:56 AM

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10 instead.

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

Compounding will take a lot of time, you can't turn your $10 into $100 in just a month or so, it takes years for your invested amount to gain enough money so that you can use it for trading especially if your investment is as low as $10 or even $100. With trading, it is quicker, might be more risky but it at least makes the process quicker.

If someone knows that they can do trading efficiently and won't lose the money they are about to invest, taking a loan from a trusted person isn't a bad idea but only if they know that they can repay it on time.

Taking a loan wont really be that a bad thing as long you are really that responsible when it comes on repaying it on time. There are really lots of uses on which loan would be used or be intend to be applied on.

Some would really be put up on investment or some would really be buying out something on what you do like.Its true that if you do go for compounding then it would take a while but arent you that sensible that if
ever you do able to reach out that target you would considering yourself to be good already? This is what people should be targeting out on which they should really be seeing that they do really have a progress.
If you dont make yourself in a rush then you could really be on that good path on way of learning it. Dont make yourself in a rush because this is on where mistakes do usually happens on which if a certain
person do really make things in a rush.

When you do understand your situation on which you are aware as a noob then starting up with small amounts is better. Dont put it up all in a single point on which you are really that minding
already on making huge money out of those capital that you had put in.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10 instead.

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

Compounding will take a lot of time, you can't turn your $10 into $100 in just a month or so, it takes years for your invested amount to gain enough money so that you can use it for trading especially if your investment is as low as $10 or even $100. With trading, it is quicker, might be more risky but it at least makes the process quicker.

If someone knows that they can do trading efficiently and won't lose the money they are about to invest, taking a loan from a trusted person isn't a bad idea but only if they know that they can repay it on time.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

snip

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

being able to earn $ 10 from a trading capital of $ 100 is actually quite good but is it that easy to get it?

anyway, even though it's not easy because there are many competitors, have you ever heard that participating in a trading contest on a crypto exchange can give you a little profit or capital for trading? ^{(imo one way/alternative to get gambling capital other than by borrowing the money)}

for newbies in trading, i suggest you don't use large capital yet + loan money from the bank, learn the basics first so you don't regret it.

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Quote from: TelolettOm on May 23, 2023, 06:48:49 PM

Quote from: alastantiger on May 20, 2023, 10:55:56 AM

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10 instead.

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

As newbies, this is too risky to take this decision. Moreover, taking loans to start trading. These may be possible ways, but not wise decisions and risky ways to do. Trading for newbies may be something new, trading is not as easy as they think. they may only think about buying low and selling high every day. But, do they consider that market can probably change very easily? And how they will do if something happened and they cannot handle this?
this is too risky. if I were them, I will not take any loan to star trading, moroevr I am a newbie.

Trading is certainly not intended for beginners because of the big risks,
basically trading is so complex and not just about buying and selling,
so better focus and prepare myself I think it's much more important.

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Quote from: ethereumhunter on May 24, 2023, 12:18:22 AM

You should be aware of how good your ability to trade first before you decide to borrow money because many of us don't recommend it. If your skills in trading are good enough and you can analyze the market well, maybe borrowing money to trade will be a good decision so you can do it. But if not, you don't need to borrow money and should keep learning more about trading so that you have your skills ready the next time you want to borrow money. It will not make it difficult for you to make a profit to pay off the loan. And you already know that trading takes time because market conditions are not always good, especially now that market conditions are bearish.

Honestly avoiding loans for trading purposes is recommended, but someone can get loans for his investment plans if the timing is right. The problem is that everyone has to consider all the risks involved in investing, including security and price volatility, even if they can guarantee regular payments of their monthly income/salary, the risks must be considered.

The OP offers an option that looks like saving $10 over a period of time instead of making a $100 loan. I agree with his investment strategy which may also look the same as accumulating a budget and doing DCAing on the assets he chooses. This of course can avoid the risk of bad loans, but of course some of them can also get loans for their investments.

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You should be aware of how good your ability to trade first before you decide to borrow money because many of us don't recommend it. If your skills in trading are good enough and you can analyze the market well, maybe borrowing money to trade will be a good decision so you can do it. But if not, you don't need to borrow money and should keep learning more about trading so that you have your skills ready the next time you want to borrow money. It will not make it difficult for you to make a profit to pay off the loan. And you already know that trading takes time because market conditions are not always good, especially now that market conditions are bearish.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

Selling unproductive assets so that the results can be used as trading capital, I mean by unproductive assets are goods that are not really needed but the value if sold is enough to start trading, these goods can be electronic goods such as cell phones because in my community often someone has a cellphone more than one so selling it can not only be used for trading but also reduce expenses due to routine internet costs because actually one cellphone is enough, or other items that are not really needed and when sold we won't experience much loss.
But trading will always be risky because any capital used is very possible to lose, so traders have to realize that expecting $10 to $100 is not easy, not only requires time, but patience and the right strategy.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10 instead.

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

As newbies, this is too risky to take this decision. Moreover, taking loans to start trading. These may be possible ways, but not wise decisions and risky ways to do. Trading for newbies may be something new, trading is not as easy as they think. they may only think about buying low and selling high every day. But, do they consider that market can probably change very easily? And how they will do if something happened and they cannot handle this?
this is too risky. if I were them, I will not take any loan to star trading, moroevr I am a newbie.

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We should never in any way think of borrowing money from people just to satisfy our curiosity of getting into trade when we know that we don't have the fund to sustain usbif we finally lose the money that we are using to trade. Trading is very risky so we should not borrow money from any source and trade since the market so we cam trade when we can try and hustle and make some cash so we can use it to trade the market and make some funds that we can use to to trade bigger in the market without having any problems.

yes, it is better to start small and learn the steps. at least, when you lose that amount, it is yours. no one will be chasing after you. also, there's no guarantee that you can always get the profit that you want even if you borrowed the 100 bucks. you may likely end up losing it all. so how can you pay your debts? that's a very risky move. so while you are still earning money to fund your trading activities, just be contented to start from 10bucks. at least, aside from learning the tricks, you are at peace with yourself that you don't owe anybody.

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Quote from: jostorres on May 23, 2023, 03:28:22 PM

We should never in any way think of borrowing money from people just to satisfy our curiosity of getting into trade when we know that we don't have the fund to sustain usbif we finally lose the money that we are using to trade. Trading is very risky so we should not borrow money from any source and trade since the market so we cam trade when we can try and hustle and make some cash so we can use it to trade the market and make some funds that we can use to to trade bigger in the market without having any problems.

That's the number one potential problem here, it will increase the risk.
When you borrow money to invest or trade, there's still risk with your investments and if your trades don't yield the expected returns, you'll still be liable to repay the borrowed funds, potentially leading to financial strain or even losses. It seems like you will potentially hit the double edge sword if that happens.

Next will come the psychological pressure, trading with borrowed money can significantly increase the psychological pressure on traders.
Fear and anxiety about repayment obligations may could a barrier to your success and lead to impulsive or irrational trading decisions, which can further increase the potential for losses.

So OP was right, the best practice that you'll do is to buy Bitcoin in a DCA method.

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We should never in any way think of borrowing money from people just to satisfy our curiosity of getting into trade when we know that we don't have the fund to sustain usbif we finally lose the money that we are using to trade. Trading is very risky so we should not borrow money from any source and trade since the market so we cam trade when we can try and hustle and make some cash so we can use it to trade the market and make some funds that we can use to to trade bigger in the market without having any problems.

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Quote from: Viscore on May 21, 2023, 04:42:43 PM

Quote from: Viscore on May 21, 2023, 04:42:43 PM

Instead of someone borrowing money to trade, it's better to start with the capital he has and the money is not used for anything. It will be safer for him, especially if he is still a beginner who wants to try trading. Surely that would make it difficult for him to make a profit.

No one will know when you will be able to profit. Even when the market is good, you can find it difficult to make profits because of greed to take more profits. So it is highly not recommended to borrow money to start trading but if he is really confident in his ability to earn profit, he can try it for a week.

I suggest not taking risks that you may not be able to afford. But if you are able and confident, just try it.

There’s no reason to borrow if you have a sufficient amount of money in your account that you can manage to lose in trading. However, for some beginners who wish to trade but no capital to start on, then borrowing money is their option. I would say it’s not bad after all as long as you have your job to back up you, to pay for the loan once your trading sucks. But always start with small capital as beginners have more losses to gain than profits to make. On one hand, compounding might be a good idea too for only for those who have high patience to wait for that long even if the expected profits are just too small. It’s just a matter or being patient actually.

For us yes and we won't even take a loan if we don't have a money but for others, greed can make them do it. They believe on the saying that more money means more profit. If you are a beginner, the more the loaning money is not recommended because they might still lack in skills on making a profit.

Learning trading requires patience as it is hard to master. If they can be able to pass this stage then they can also be patient enough to wait for their funds to come. Most of us have a job but we already allocated our salary on different expenses. There are house bills i.e electricity, water and then there are grocery expenses and so on. Loaning money will only give you a headache.

It does really depend on your risk appetite because there are people who could be able to bare up with the risks or they arent blindly making up some loans if they do know that they couldnt repay it on time.
It is really just depending on a certain individual since not all are really that irresponsible for those who do take loans.It is really just that they are really risking something on getting something.
It is really just that they are really that prepared on whatever the circumstances that they might be facing on if ever their decision was wrong. There are people who are really
that sensible in towards their decisions but there are ones who are really that careless and this is something that we should really be careful or mindful on whatever actions or insights we do have.

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Quote from: cydrix on May 23, 2023, 05:36:13 AM

Instead of someone borrowing money to trade, it's better to start with the capital he has and the money is not used for anything. It will be safer for him, especially if he is still a beginner who wants to try trading. Surely that would make it difficult for him to make a profit.

No one will know when you will be able to profit. Even when the market is good, you can find it difficult to make profits because of greed to take more profits. So it is highly not recommended to borrow money to start trading but if he is really confident in his ability to earn profit, he can try it for a week.

I suggest not taking risks that you may not be able to afford. But if you are able and confident, just try it.

There’s no reason to borrow if you have a sufficient amount of money in your account that you can manage to lose in trading. However, for some beginners who wish to trade but no capital to start on, then borrowing money is their option. I would say it’s not bad after all as long as you have your job to back up you, to pay for the loan once your trading sucks. But always start with small capital as beginners have more losses to gain than profits to make. On one hand, compounding might be a good idea too for only for those who have high patience to wait for that long even if the expected profits are just too small. It’s just a matter or being patient actually.

For us yes and we won't even take a loan if we don't have a money but for others, greed can make them do it. They believe on the saying that more money means more profit. If you are a beginner, the more the loaning money is not recommended because they might still lack in skills on making a profit.

Learning trading requires patience as it is hard to master. If they can be able to pass this stage then they can also be patient enough to wait for their funds to come. Most of us have a job but we already allocated our salary on different expenses. There are house bills i.e electricity, water and then there are grocery expenses and so on. Loaning money will only give you a headache.

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I'm not aware of any other ways to get started with your cryptocurrency journey without taking out a loan.
I believe that rather of taking out a loan, you should set aside money from your savings or make a budget just for trading. You avoid debt by using your own funds in this manner. Another choice is a DCA, which, if you heard and understood, is the ideal choice because it entails consistently investing a specific sum of money, such as $10, at predetermined intervals, independent of the asset's price. You can average out the purchase price over time by buying cryptocurrencies consistently, which may allow you to profit from market swings.

Every investor or trader will definitely have a way and adjust their investment and trading plans based on the funds they have. It is difficult to grow a portfolio quickly, but when they are patient and consistent with their plans then amazing things can be expected.

I agree that $10 placed in a certain asset as an investment on a regular/consistent basis will get bigger in the future. This investment is all about patience, time, assets and proper planning, so returns can be expected. They could have borrowed if they had a regular source of income, but something forced was certainly not good.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10 instead.

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

The option that you present is not realistic either, your friend will need to get 900% in profits in order to reach those results, the majority of the traders out there have not reached those kind of profits during their entire careers, so this is not just about patience but about a massive amount of skill and luck which is required to obtain those results, in my opinion your friend does not really have any other option but to take the traditional path and save their money until they have enough of it to trade or invest in this market.

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One alternative is to focus on part-time employment prospects or freelance projects to supplement your income. By putting in more time and effort at work, you may earn money to go towards your trading operations. This strategy allows you to fund your trading ventures without relying on loans, while simultaneously obtaining useful experience and broadening your skill set. Instead of borrowing money, you might set aside a percentage of your earnings for trading. You may gradually accumulate the needed amount without incurring debt by developing a budget that allows for regular savings toward your trading goals. This strategy necessitates patience and consistency, as reaching your desired investment quantity may take some time.

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Quote from: SOKO-DEKE on May 23, 2023, 07:11:40 AM

So, after weighing the pros and cons of taking out a loan to trade with an amount I can easily pay back in order to reach my $100 target even I lose versus using $10 to trade in order to reach my $100 target, I will choose to take out a loan to trade as long as it is money I can afford.

I think to follow the above is going to be better for Op because going on a trade with just $10 account is a risk that the end is already known so I won't advise that either. Trading with that will lead to taking $10 loan each time the account is gone and that can happen as how many times that you can imagine and going above $100 money for outright loan. To support the loan also is risky but I believe is better because of the considerable small amount involved ($100). I do not support loan , I can suggest an intending trader to save up and have reasonable start up money. To be patient in trading is a good trading skill because the money to make is always there.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

There is assurance of possibility that some or especially newbies can be making profits from $10 and make it to $100 even it possible such have to wait for soo long time to meet this target, infact from the process reinvesting, it can lose it all.

Since there is no guarantee that a trader will make money from it trading or have the capital intact to pay back the loan, taking out a loan to trade is not recommended. However, if the trader has additional sources of income that allow them to do so without experiencing financial strain, I don't think there is a problem that, so far it is the money it can afford to lose.

So, after weighing the pros and cons of taking out a loan to trade with an amount I can easily pay back in order to reach my $100 target even I lose versus using $10 to trade in order to reach my $100 target, I will choose to take out a loan to trade as long as it is money I can afford.

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I'm not aware of any other ways to get started with your cryptocurrency journey without taking out a loan.
I believe that rather of taking out a loan, you should set aside money from your savings or make a budget just for trading. You avoid debt by using your own funds in this manner. Another choice is a DCA, which, if you heard and understood, is the ideal choice because it entails consistently investing a specific sum of money, such as $10, at predetermined intervals, independent of the asset's price. You can average out the purchase price over time by buying cryptocurrencies consistently, which may allow you to profit from market swings.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it.

I quite agree that's it's not a good idea to get a loan to fund trading. However, if the borrower has a mean to pay back that loan within a month, I would advise them to take the loan. It will fast track the trading process. I'm one who don't believe in keeping money in the bank while there's an investment to use it for. The idea of compounding $10 isn't a wise one, considering that the profit margin of such a small capital will be infinitesimal and may even take weeks of unnecessary stress trading to get up to $200. Given both scenarios, I will pick the loan option.

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There is no guarantee that you will surely make 100$ by using 10$ because crypto is volatile if there is a chance of getting profit so there is also a chance of losing it too so we should keep in mind both of these things. In a case if someone win by putting money into certain good coin then just use your profit for further achievement but don't put profit plus own money as it will be completely risky. Taking loan in my opinion is not a suitable choice for enhancing money but its something more risky than using your own money.

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Quote from: Bananington on May 20, 2023, 11:58:48 AM

If you must borrow to trade, it has to be at a stage where you are very sure of your trading, that is of course after gathering experience.

Even if you are a very good trader, you do not know when the market will be unfavourable, that is why you should not borrow money to trade. Trade with small amount of money that you are capable of using to trade.

Quote from: Cling18 on May 21, 2023, 09:38:06 AM

With only $10 as a beginning capital, it will take a long time to generate a profit. There is also the risk that you will lose it and have difficulty paying. Borrowing money to trade is a bad idea because we all know how the market works and how volatile Bitcoin is.

Very bad an idea to borrow money for trading. The thinking that you borrow money will not let you trade appropriately, given the trader a bad mindset.

$10 should be for having knowledge and experience about how trading works. It is truly small for trading. But good to mention that we should trade with the amount that we are capable of losing.

Quote from: Cling18 on May 21, 2023, 09:38:06 AM

I agree with the idea of selling your possessions or spending your hard-earned money to raise the necessary funds.

I can not sell my possession because of trading and I can not encourage anyone to do that either.

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resort to selling your unnecessary asset, if you truly willing to make some good money out of it, borrowing money is not the solution, it will just add the burden to you and will also cause you to be stressed.

and if you are stressed god knows how big of an impact it will have to your well being and emotion in which could also affect the way you trades and might cause you to incur losses.

never ever borrow money for something that's still unclear, but it's fine to just sell some asset, and then later shell out some bucks for trading, just in case if you can earn some good profit out of it. you can always shell out

some additional money to back it up and help it grow faster.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

I am bringing this to the forum because someone asked me this question. I thought I should share and get more insights. According to the individual, while they were considering loaning about $100-$200 (money they know they can pay back within a month) to start their trading, someone advised them against it. Instead, they were told that all they need to do is to compound $10 instead.

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This is the best alternative to loaning money to kickstart your trading journey. What are the other alternatives you know?

Allocate an amount which is something that you would really be able to afford to lose first specially when you are just starting on trading on being a complete noob. Dont mind first about making profits
or whatsoever correlation to it because it would really be just giving you that mindset and feeling that you should really be in a rush. Dont think this is some sort of sprint or whose really be going
to be profitable on fastest way but rather this is a marathon which we would be thinking that sustaining yourself should really be the goal.

$10 or $100 as a start up then it would be your choice. Find that trading method which suits out yourself because not all would really be just the same when it comes into their trading preferences.
There are people who do love short trades and there are ones who do love swings and there are ones who do love to scalp. Find out which
one would really be able to hit up you on the spot.

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Winding down.

Instead of someone borrowing money to trade, it's better to start with the capital he has and the money is not used for anything. It will be safer for him, especially if he is still a beginner who wants to try trading. Surely that would make it difficult for him to make a profit.

No one will know when you will be able to profit. Even when the market is good, you can find it difficult to make profits because of greed to take more profits. So it is highly not recommended to borrow money to start trading but if he is really confident in his ability to earn profit, he can try it for a week.

I suggest not taking risks that you may not be able to afford. But if you are able and confident, just try it.

Borrowing money is mostly common for those who aim to trade and earn significant profits in the latter part. But is this really advisable? For me, if you do have the means to start trading with your own hard-earned money, then do it with a minimal amount. Borrowing is only advisable for those who already have expertise in trading so they have high chances to make it work. However, if we take the side of compounding, I’m afraid it will only make us lose more even the profits from our previous trades. It may work but mostly, it could add burden into your finances.

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Quote from: Bananington on May 20, 2023, 11:58:48 AM

It is not easy to use $10 to make $100 in trading, even if you gain and include the profit in the next trading or position your opened. One of the disadvantages of this is that once there is loss, it would be more because the profit is included. I see this as a way to greediness and a way to lose.

If you want to trade, you have to gain and set aside your profit, or you can set aside some of your profit which you will not be using for trading.

This kind of thing is intended for suicide, making money in trading is not easy for a beginner, except maybe using cunning or deceitful methods by taking advantage of loopholes in trading programs.
but it's true, from a capital of $ 10 to get a profit of $ 50+ or $ 100 is not an easy thing to do.
It should be yes, when a trade is profitable it is better to keep half of the profit and the other half to continue trading, it may be more effective to prevent losses when not making a profit while trading.
Having targets like that is good in trading so that we have certain limits and guard against greed when trading, but usually with small capital it is very difficult to get sizable profits, unless you do it in future trades.

Quote from: alastantiger on May 20, 2023, 10:55:56 AM

For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does.

This means to me that a new trader should always be patient and not be in a hurry to trade with big amounts. New traders should not borrow a huge amount of money to finance their trading because it can easily be lost. As a new trader, you should start small if you do not have enough money to start big. Even though it is not advisable to borrow funds to finance your trading, it is worse for a new trader to do so than an old trader. If you must borrow to trade, it has to be at a stage where you are very sure of your trading, that is of course after gathering experience. If you are a trader with no experience, avoid borrowing money to trade with.

Borrowing money for the first time trading is the stupidest thing, I agree with you that it will be really detrimental, even a person who has studied for more than 3 months is full of his own money, he does not find consistent profits from his trading, it's too risky if forced, don't think too easily about profits and don't take it easy to become a trader who can produce consistently.

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There is no guarantee that you will surely make 100$ by using 10$ because crypto is volatile if there is a chance of getting profit so there is also a chance of lossing it too so we should keep in mind both of these things. In a case if someone win by putting money into certain good coin then just use your profit for further achievement but don't put profit plus own money as it will be completely risky. Taking laon in my opinion is not a suitable choice for enhancing money but its something more risky than using your own money.

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This is somewhat illogical, especially for bitcoin trading, although I advise beginners to start with a little capital to try before starting with good capital, but 10$ is a very small amount and you need a lot of patience and perhaps a year to convert to 100$ in bitcoin trading.

But if you want to try this small amount in shitcoin trading then maybe luck will help you and get X100 in few days. This may be a suitable option for beginners or those who do not have much capital.

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Quote from: alastantiger on May 20, 2023, 10:55:56 AM

It is not easy to use $10 to make $100 in trading, even if you gain and include the profit in the next trading or position your opened. One of the disadvantages of this is that once there is loss, it would be more because the profit is included. I see this as a way to greediness and a way to lose.

If you want to trade, you have to gain and set aside your profit, or you can set aside some of your profit which you will not be using for trading.

This only gives advantage if you are a long term hodler, like 5-10 years, as compounding will surely work given that long period of time. However, this is not advisable for beginners I think because they are known to be more impatient in the market so the more they will follow this strategy, the bigger chances they will lose more. Except for some professional traders, as borrowing money or even compounding will easily work for them because of their various trading experiences in the market.

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This alternative you mentioned is not guarantee. Because in order to compound the profit into your capital you have to sell your assets. This means that you have to be consistent and the holding period must be little in order to reach your target quickly. But the thing is that you're not sure that your consistent all the time, we encounter some loses in trading and we have to expect that. And also there's some point that you're getting left behind by the market at the time you sold your asset and it's difficult when to enter again. That's why in my opinion this way is not really working.

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...For newbies, compounding a $10 crypto trading investment means reinvesting the profit from your initial $10 capital in the same asset, such as bitcoin, to generate an increase in returns over time. So the $10 may compound over time, and you can get $100 in returns. It requires patience, just as trading does...

The figures you mentioned look unrealistic not only for a beginner, but also for an experienced trader. It is simply impossible to get 1000% profit by trading bitcoin without margin. If a beginner will by trade with borrowed funds of the exchange, then his balance will be reset only for the reason that he is a beginner and does not have sufficient trading skills.

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Quote from: Viscore on May 21, 2023, 04:42:43 PM

Instead of someone borrowing money to trade, it's better to start with the capital he has and the money is not used for anything. It will be safer for him, especially if he is still a beginner who wants to try trading. Surely that would make it difficult for him to make a profit.

No one will know when you will be able to profit. Even when the market is good, you can find it difficult to make profits because of greed to take more profits. So it is highly not recommended to borrow money to start trading but if he is really confident in his ability to earn profit, he can try it for a week.

I suggest not taking risks that you may not be able to afford. But if you are able and confident, just try it.

There’s no reason to borrow if you have a sufficient amount of money in your account that you can manage to lose in trading. However, for some beginners who wish to trade but no capital to start on, then borrowing money is their option. I would say it’s not bad after all as long as you have your job to back up you, to pay for the loan once your trading sucks. But always start with small capital as beginners have more losses to gain than profits to make. On one hand, compounding might be a good idea too for only for those who have high patience to wait for that long even if the expected profits are just too small. It’s just a matter or being patient actually.

Everything will depend on how they can return the loan money because, so far, many people have only borrowed but have been delaying paying the loan money. That is why many people have problems borrowing money for business or trading capital.

If they are already working and have a salary, maybe that will be okay because they can set aside part of their salary to pay off the loan. But some still have problems because of the necessities of life that they have to fulfil.

After all, if they lacked expertise in trading, it would also make it difficult for them to make profits. We recommend that before they decide to take a loan, they can calculate everything, including the risks.

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