Getting a loan to day trade (but not to day trade)

Discussion in 'Trading' started by Sky123987, Feb 18, 2008.

  1. LOL, you make it sound like you don't have to pay the money back.
     
    #31     Feb 18, 2008
  2. clacy

    clacy

    Good luck with that. My guess is you are going to fail and have to pay back the $50k.

    Let's just hope you don't expect the government to bail you out. :D

    That seems to be the prevailing attitude for fixing one's problems.
     
    #33     Feb 18, 2008
  3. I agree, there would be a lot of pressure if you had taken out a loan for trading capital...and it would really suck if you blew up and still had to pay it back.

    It has to be hard enough just to recover (financially and psychologically) from a blow up in the first place, much less if you have to deal with the stress of being massively in debt on top of blowing up.

    Ouch.
     
    #34     Feb 18, 2008
  4. #35     Feb 18, 2008
  5. there is nothing wrong with taking out a loan for trading capital, as long as you KNOW, you can pay it back regardless of outcome of your trading. take it out but not a penny more than you can pay back if you blow out, then GO FOR IT.

    many of the trading greats started this way.


    surf
     
    #36     Feb 18, 2008
  6. saluki

    saluki

    I told BOA that it was for investing. Both times. They gave me money both times.
     
    #37     Feb 18, 2008
  7. If you KNOW you can pay it back then why not just wait until you can save the money before you trade? I cannot believe you are advocating this by saying the trading greats started this way. How many others lost? If you don't have the money to lose then don't trade until you do.
     
    #38     Feb 18, 2008
  8. I see the point you are making, but many businesses start out with a loan to buy inventory and set up shop, etc. Even though they may could technically save up over a period of time...

    In a way time is money, and of course fast isn't always best...but it's just a way of looking at it. It is a personal decision one would have to make. It's a highly individual risk-management decision.
     
    #39     Feb 18, 2008

  9. easy, its the opportunity cost of money.


    sorry if you don't understand, it makes perfect sense to me.


    surf
     
    #40     Feb 18, 2008