have you ever tried Postum? That's what my grandfather drank when the caffeine was just killing him. It was a hardcore Morman drink. (and he was hardcore born again Christian)
at any rate, I don't know what a "Lot" is, that must be something people who live in experimental European contries do. Here in the USA, we trade actual dollars, and I know what it takes to "win" a dollar, and what it takes to "make" a dollar, and I would probably not borrow to win.
As a rule of thumb it's a good idea to match your liabilities to a like-kind asset. Borrow as much from your credit card that you can pay off strictly from your savings. If you succeed in your trading you will have extra cash, if you fail you will lose your savings for the year, but no more. Effectively, you should be taking the present value of your annual savings from salary and putting that in your brokerage account.
I doubt it's an anomaly. I have several strategies, but the most effective is a trivially simple fading strategy, where I hold the trade for a fraction of a time period in a given chart ( 5 min, 15 min, 1 hour chart etc. ) after a sudden move in the direction of the prevailing trend. I've traded on margin before, but never a direct loan like this. Not sure how the psychology of a loan like ths will impact me.
Yes, you're right. The monthly payment on the debt was intended to be a portion of my monthly savings. So, I'd be using the credit card as a way to take an advance against that years savings.
why not just approach the United States government and tell them you have a novel new way to make money, and borrow a couple of trillion and get them out of debt?
You raise a very good point about how the balance transfer works. I need to get clarity from them. The monthly payment I stated, was my own plan, not their requirement. I don't know what the minimum payment requirement is. Also if I use this card to buy other things, in what order is the payment applied. Most importantly, what happens if I fail to pay the full balance on new purchases in a statement period? I need to get clarity. I've never done a balance transfer before. Thanks
If you are trading forex, you're borrowing in a big way already. I would simply be adding to preexisting leverage. Whether I lose 10,000 I have, or lose what I'd be saving for the year, it's actually the same. UNLESS, I lose my job.