Taking a loan is always a risky task especially if you are a beginner in trading there's no chance you could make more profit with the money you borrowed since you don't have an experience in trading. This topic is already been discussed many times so this should teach newbies to avoid using or taking a loan just to trade or invest in crypto.
If you don't know the market well you should avoid unnecessary actions to further damage you in the future. Trading is different from gambling so don't take it lightly just like you were buying and selling because crypto currency market price has a higher volatility movement.
Topic: Taking loan to trade is a risky task - page 10. (Read 1008 times)
It is never right to take a loan to trade. And for a newbie trader, it's never right. Trade is a game of money. There must be win and loss here. And whatever the win or loss, you have to repay the loan. If you lose money in trading, you will have extra pressure to repay the loan.
It is not advisable for someone to borrow money. It is like borrowing money to gamble. If you're just going to put that at risk without any guaranteed return.
Please, don't do that and don't use others money for it.
Because there is no guarantee.
I agree it is not good advice.Please, don't do that and don't use others money for it.
Because there is no guarantee.
It seems you have been hit with a double edge sword if you lose in trading, you will pay the interest and I don't know if you will be able to recover once you maybe lose in trading. Trading is a form of gambling, not an investment, there is no guarantee that you can make a profit in a single day while the interest of the money that you borrowed was increasing each day. Op can give it a try with the affordable money he had and measure the skills he has if he really capable on making money in trading.
I don't recommend to take a loan, this is too risky because we can be sure if we will win with trading specially on complicated situations.
Maybe having savings from your job, would be a best strategy to use, you could save your money diverted to crypto assets like xrp and bnb.
Maybe having savings from your job, would be a best strategy to use, you could save your money diverted to crypto assets like xrp and bnb.
I know someone who started how to trade about four months ago. He is a beginner in trading, I don't really know how good he is, but to him he may feel he can always make earnings. I think he was so confident in himself, ...
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he had to borrow money for trading which he could not make good profit. As a beginner borrowing money to trade is not the best. It is not even advisable to use all the money one has to trade or invest talk much of to borrow to trade.
He did great at first but borrowing money use for capital in trading will be a big mistake and this might end his trading journey quickly.We have to remember that not all the time we got in profit and if you have an obligation to pay the borrowed money in a specific time frame, that surely be bothering and can affect our decision-making. In this case, I'm afraid that the confidence that you have said OP is getting over.
Borrow money if its sure profit but in trading, there’s no guarantee on this so its really risky but if you are ready for it, then why not as long as you can still pay that money you can really borrow. Its like putting up a business where mostly borrow funds from the banks, and they are paying it you just have to know the strategy in trading, and always do your best.
It is not advisable for someone to borrow money. It is like borrowing money to gamble. If you're just going to put that at risk without any guaranteed return.
If a trader is looking to borrow money they either have insider information or they are really good traders, only in these two scenarios it probably won't be as dangerous to borrow money for trading. But for anyone else outside of these two brackets, just don't borrow money as this is a super risky move where you might end you owing a lot more because trades can be unpredictable at most times and without proper skill and knowledge it would be hard yo make profit - also you don't want to be relying on luck either!
It is not advisable for someone to borrow money. It is like borrowing money to gamble. If you're just going to put that at risk without any guaranteed return.
Please, don't do that and don't use others money for it.
Because there is no guarantee.
Please, don't do that and don't use others money for it.
Because there is no guarantee.
The joy in trading is when the money which is been used to trade is owned by the trader. Normally trading is something that is unpredictable, one can't really know or see the outcome if it will be a big loss, small loss or big win, small win. When money that is been used for trading is owned by the trader if there should be loss he may not too feel about the loss, unlike when the money which was been used for trading is borrowed, in a case whereby the person do not have good source of income.
I know someone who started how to trade about four months ago. He is a beginner in trading, I don't really know how good he is, but to him he may feel he can always make earnings. I think he was so confident in himself, he had to borrow money for trading which he could not make good profit. As a beginner borrowing money to trade is not the best. It is not even advisable to use all the money one has to trade or invest talk much of to borrow to trade.
I know someone who started how to trade about four months ago. He is a beginner in trading, I don't really know how good he is, but to him he may feel he can always make earnings. I think he was so confident in himself, he had to borrow money for trading which he could not make good profit. As a beginner borrowing money to trade is not the best. It is not even advisable to use all the money one has to trade or invest talk much of to borrow to trade.
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