Post
Topic
Board Nigeria (Naija)
Merits 6 from 3 users
Re: Avoid going for a loan as a trader
by
Futurexxx
on 23/05/2025, 14:43:11 UTC
⭐ Merited by Cossyblack (3) ,1miau (2) ,Igebotz (1)


$50000 is enough to start a good business. Why trading? All I see about it is someone that is not patient and looking for fast money but instead he got into trouble.
It's not even adviceable to start up a business with a borrowed money because the business might fail, and in such a scenario, you will find it extremely difficult to pay back, but if you are borrowing money to enlarge or strengthen and existing business, that's a more logical approach, not borrowing to start up.
Then on the part of borrowing money to trade, it's the most stupid decision ever, because in trading you try as much as possible not to trade under pressure, and that borrowed money is an added pressure that will make you lose it all trade in no distance time, so it's a very big financial mistake that should be avoided by all means.