Post
Topic
Board Trading Discussion
Re: Should I Get a Loan?
by
Rockstarguy
on 31/01/2025, 17:34:38 UTC
Well, my advice to you is to work for a while and raise the money you'd want to use to trade. Borrowing money to do this is actually a bad idea unless you have a plan to pay back in case it doesn't work out as planned. As traders we all have our strategies that works perfectly fine for us but that doesn't mean you should always expect them to work, the market is full of surprises and at any time you should be ready to incur losses. Ask yourself, is this risk worth taking? Would you be able to deal with the consequences of defaulting when you fail to pay back the loan?
Taking loan for trading is very risky because you never can tell what the market will be like, the market is always volatile. I think it is never a good decision of taking loan for trading, doing this it means one is being desperate of making profit from trading or seeing trading as a means of income.

 Before planning going into trading atleast their should be preparation of how money should be generated for trading , this is the most important thing. Having a source of income for trading is the best,  there won't be much panic even if money is lose in trading compare to when the money is being borrowed for trading. Taking loan for trading is so risky for trading and shouldn't be encourage because if ir becomes and habit it has more negative effects.