Topic: Trade up capital: $200 - page 2. (Read 746 times)

I think the Op took his wife’s money without her consent, but the wife knows that the money is with the OP, anyday she needs her money back, she will definitely ask for it. The OP should have tell his wife what he is planning to do with the money and he should tell the wife he might lose the money, incase if anything happens to the money, the shock won’t really be too much compare to if he those not know anything right from beginning, because am sure the OP will definitely lose most of the money.

what I didn't think of was telling my wife and wanting to use her jewelry as capital. if the wife really understands after being explained, so she can accept risks in the future, maybe it won't be a problem in the future, but if the wife only knows that tomorrow she will get profit and with a pleasant image, then this will become the seed of problems in the family, so for me it doesn't matter. commensurate with the family risk at stake

take a good look at the chart:



assuming that with 200$ you had bought at 27400$ and then sold at 28200$ then you would have stayed with 205$, that is you would have profit of 5$, see that this is on paper, because in practice you would have to be able to predict that 27400$ would be the lowest price and then the price would go up and then you would have to be able to predict that 28200$ would be the highest price and then the price would go down so that you could sell at 28200$. this is the first and most difficult part, but things do not end there, there is the second part: capital and profits. note that in this scenario with 200$ your profit would be 5$, it is not a big profit and you had to wait for the price to go up a lot in order to get a profit of 5$ and it is not every day that the price goes up a lot, with that you can see that with 200$ your profit will be very low and it may take many months for you to reach 400$


I'm not going to comment on your family problems, I can only tell you that you shouldn't deceive yourself, making 400$ to be able to return 200$ can take you 1 year or more if you're day trading, day trading is very different from buying and do hodl, the current scenario the price of bitcoin has the potential to make a 2x profit in a while, but no one can tell you the day, month and year in which this will happen, so if you were to hold you would have to put money that you can afford to lose the same applies to day trading


I thought about that too and it all gets worse because he didn't do the proper research, so he still doesn't know about the ideal capital and the great risk of day trading, I'm afraid this will not end well

and from what it seems, the OP is indeed a beginner in this market. should not use that money for his trading capital because the probability of losing it is very high. why not try using his own money, even a small one just to get the grasp of crypto trading? his wife may be okay with it but i guess, she doesn't know also what he's into.
i can feel that a lot of newcomers still have the notion that in this market, they can easily get good turn around of their money. but for sure, later on, they will see that this market is quite hard to gain such big profits.
OP should think of this decision and should not use his wife's money for this high risk activity.

Indeed, it is exactly very risky, too risky. Moreover, the money should be used for daily necessity fulfillment or other urgent or emergency condition, this is not a wise way to take it although there is probability to give back again the money after getting profits. But, who will guarantee if they can really earn much profits from trading, right?
Although we know that the condition may be permitted by the wife, but as a husband, this is not good and wise decision, too risky. If he can get the profits, it will  be good.But if he cannot manage the money and lose much, this will be a big problem to him.

To start with, in as much as you acknowledge that it is a family issue. I do not like the idea that you stole from your wife before telling her.
I mean do you need to be taking from your wife or your wife be taking from you? The $200 you stole from your wife, is it  her spare money or money that she budgeted for something? How do you plan to pay her back the money? I know that trading will not give you the reward that you are expecting with $200. You can barely make $15 on top without blowing accounts. What do you do if the trading goes wrong and $200 vanishes.
What trading experience do you have before thinking about depositing money? Honestly, I see you making a very big mistake that could make your wife get upset at you. Kindly withdraw the money and give to her back then carefully learn how to trade before you can start with your own capital

And while waiting for that he has ample of time to study how trading works and expose to the crypto market. In general, he has enough time to make ready before the real trade comes and it was very important in trading, not just capital and effort.
Actually, a lot of people underestimate trading. I agree with this thinking "if others can do trading and success, we can do as well". I won't say it was wrong but yes, we also have to consider in a situation where not all traders become successful, many had also failed and might be one of them especially if we lack of preparation.

Seriously I don't really encourage people to take loan because they want to trade or they want to invest in cryptocurrency. Incase if anybody is planning to take loan then the person should have another source of income where he can be able to get money to pay back the loan incase if anything happens. Also if you are planning to invest, then you should only invest in bitcoin alone, and you should be ready to hold for long term, so the loan terms and conditions have to be very friendly.

I think most people are deceived by what they see on social media most expecially on YouTube, most of the videos they see on YouTube is always showing when the trader is in profit, they will never show when they are losing, that's what is make most newbies believe they can't lose money in trading, since whenever they watch videos on YouTube, they are always seeing people winning.

Taking a loan is not wrong but putting into the situation of being a newbie and having no trading experience yet, we already know the possible end. I believe that OP has the gut to trade but yes, thinking profit shouldn't be on the top of his mind as a beginner but rather help himself to learn first using a demo account than using the borrowed money to lose them all in order to gain experience.

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Many people had come up with a decision to trade because of seeing on social media that many people got a huge profit. I'm not going to tell it was a lie because some did it well. But then, we can't assure ourselves to be like them as well knowing that it depends on us - our strategies and decision-making.

Some people don't really know much about trading, they just hear from people that they are making money from trading, but they don't really care to do more research about it to know the risk that's in trading. It's kind of funny for a newbie that wants to borrow money from his wife to start thinking about profit already, if you want to start trading, you shouldn't be thinking about profit yet, you should be looking for the appropriate strategy which you will be using.

If am going to advice the OP, then I will ask him to return like $180 to his wife and then start trading with $20, after perfecting your trading, then you can source for your own money then start trading with it.

It's enough to earn money but obviously not enough profitable in terms of effort that you'll put. The efforts will be pretty High, because efforts don't deviate that much based on campus but returns will be much lower based on this effort. Secondly legality would depend on your country so please tell this first.

You should have exercise some patience to source for your personal money for trading rather than obtaining money from your wife to embark on a very risky adventure, trading is very risky and it's not advisable to obtain a loan for trading, meanwhile you can as well start with a small fund which you can afford to lose and trade with the fund until you are consistent in earning profit or if you had already done that already and willing to start with a borrowed $200, I think you should rather take 50% perhap if there is any losses the repayment will be easier to avoid unnecessary embrassment

Oh wow buddy, that is a tough situation. First of all don't take any money from your family without asking. I doesn't matter if she is fine with it later, you should discuss it beforehand. 200 USD is also not such a huge sum, even if you lose some of it quickly you could repay your wife with your own money. From the way I am reading your post I think it would be good to get some realistic expectation in trading crypto currencies. Starting out small in trading is a good idea, just don't expect to make huge returns quickly. If you are looking for ways to double your money in a short period of time you need to accept a lot of risk, and the chances are quite high that you are going to lose some money instead of making big returns.

if a newbie made trading his main income it would be bad enough. with relatively little skill and knowledge, what happens is just trying to make a profit in whatever situation occurs in the market. it will not be good for the capital that will be eroded. especially those who trade futures.
regardless of the capital, always try to start with a small nominal. it will make experience in reading charts as well as the market situations. gradually, it will grow our skills in trading. Never rush into learning a trade. leverage existing capital to gain as much trading experience in the market as possible.

It's very risky to use someone's else money to trade with confidence of doubling the capital. Cryptocurrency is not a get rich quick scheme neither is it a Ponzi scheme where money doubling is effective. Trading differ depending on the trader and the season. Who knows if he might be lucky in the market, I bet he can turn a $200 account into $1,000 only if his trading strategy is accessible in the market. This gigantic profits are mostly during the FOMC or CPI news. Use to obtain more useful information about the basis of trading and you're expected to either float with technical or Fundamental analysis.

It's normal to lose in trading no matter how good you are. You must know how to manage your risk in trading in order to survive your capital. But if you're new to trading, you shouldn't make it your main source of income because you might be chasing the money that even if you don't have a setup seen in the market you're forced to enter. How much more if the money you use is not yours, you will surely have a problem with that. Trading seems easy but it is not. That's why it's necessary that even if you've been trading for a while, it's not good to immediately stop working and focus on that. No trading setup will work all the time. It's the same as if the winning rate of your trading setup this month is 80%, next month maybe only 50%.

Even if he has full knowledge of trading, there is no guarantee that he will be able to make a profit from that $200. Professional traders also have to accept losses sometimes, they can't win forever, let alone a newbie like him. What he needs now is not knowledge, but a job, and a stable income before thinking about investment or trading. He is using other people's money to trade, and if he loses, it is very easy for him to make the mistake of stealing money from his wife again.

I don't really think it's a good idea taking your wife's money to trade, I think you are trying to cause family problem, the best thing you will do is just to return the money to your wife and look for your own money and start trading with it, or you should look for another source where you will get money to pay your wife back.

I don't really know why you are so confident that you will make money from trading to pay back your wife, don't be suprise if you lose all the $200 you deposited, you just want to start trading for the first time and you are already thinking about profits, as a beginner you will definitely lose money, so I expect you to blow the $200. After blowing the money then you will start looking for ways to pay your wife back.

If you want to trade I don't think any amount is too small, as a beginner I will even encourage you to start with just little amount, because I know you are likely going to lose it, that's why I believe you talking money from your wife is a very wrong idea because you might likely going to lose it.

Before he does day trading, he must make sure he has the ability and expertise to analyze the market because the market changes every day and he must analyze the market before trading. Without having those two things plus self-control, it's a bit difficult for him to enter the market and choose his coins even though he only decides to trade bitcoins because bitcoin movements are very erratic. And using $ 200 without skills and analytical skills can make him lose. So he should learn to trade more and try to trade with small money because it can reduce the risk of losing later.

In my opinion I think trading should be done only when you have funds for the trading. In this case I see you don't have money, you took money from your wife for trading. And 200 dollars is not a very small amount. it a medium amount for trading but since you are new to trading, you may lose 200 dollars of investment if you take a wrong trade. And I think you are must gonna do day-trading since you don't have money, you want to line your pocket with trading profits. In this case, you must first gain knowledge about trading, learn to analyze candles and charts. Then you can take risk with 200 dollars before I say if you go to invest in alt-coin maybe you will face loss.