Quote from: jasonjm on August 28, 2024, 09:27:02 AM

Quote from: Gooner0 on August 16, 2024, 12:14:42 PM

I had a friend who took a loan from the company he works for , about 30,000, which would then be deducted from his initial salary.
He then went on to use this money to trade , now psychologically he was just not ready for it because his whole mindset was just about making a huge amount of money that he ended up loosing everything.

Trading is a risky venture and borrowing money for trading is stupid especially when you don't have any prior experience. People lose money in trading when they get greedy. People should acquire basic trading skills and enough knowledge of the market trends before making any decision. Always start trading with a small amount and when you become an experienced trader go for a suitable amount. Spot trading is less risky than futures trading. If a person is inexperienced, he should opt for spot trading. Diversify your portfolio to mitigate the losses.

You should try to get profit through risky system and continue to gradually increase your experience with small investment initially. You need to invest in getting an idea about the market and engage yourself accordingly with expert advice. Diversify your portfolio by choosing currencies and making investment decisions accordingly and more buying habits during price dips. Along with trading you should have long term investment area because long term investment can earn you multiples of profit.