Who gives money loans to daytraders? All the loan company's I called said we need a job with a paycheck to give loans. I explained to her that I have a W2 and pay taxes every year but there is no paycheck. She didn't care, she said that I have to have a paycheck job to get a money loan. Anybody know where I can get a loan to finance my daytrading?
100% APR? Are you serious? If you're that hard up, just do an "app-o-rama" with credit cards, use the BT money, and don't pay interest for a year. Its that easy.
Honestly, I don't think it's a good idea. Build the cash up while continuing to record your trades and improve your understanding of the markets. To fund an e-mini account all you need is 2k for 1 contract to do some decent trading. After that you can just build your account with your profits. Good luck, Jimmy
It depends on the state and the 100% is only on the minimal amount. BTW, New York is not on there, since NY is one of the toughest states with consumer law. It's loan sharking business made legit.
i don't know if it would work but you could call yourself a small business and apply for a govt' loan
While taking a loan is a risky proposition to fund your trading, try www.prosper.com A friend of mine recently applied for a 'business loan' where 25% of the proceeds was to go to equipment upgrades and some of the remaining to fund the trading account. He got $25k. Granted, it came in over 700 bids, but in the end, he got $25k. Just an idea to think outside the box. Your interest rate is a function of your credit worthiness, so check the site out.
well i think they would take into consideration how long you've been trading for, your income variance, and your dti