A credit card cash advance actually sounds good ET180. I assume they don't care what the heck the money is for. Problem is finding one with a low enough rate to really make it worth it. I need to do some digging. No some give you a super low interest for signing up with their card, for a long number of months. Like I think I saw one with no interest for 21 months. That would allow me to spend on my card and put the cash into the market instead, at a VERY low interest rate. Thank you ET180!!!
Thanks maxinger! But don't futures have some "drag" built into them? Like they decay over time or something? Something weird that I don't fully understand. OK, I don't understand even a little bit LOL.
HAHAHAHA!!! Trust me, I wouldn't actually spend the loaned amount until it was like a no-lose situation. Like when the VIX was 80. Look back in history when the VIX hit 80 and you will see that the market always rebounds at least a good bit shortly after that and never looks back. I wouldn't be stupid and go out and invest it tomorrow, hell the Naz could fall another 10% with ease.
The problem is in my IB account I'm now up to like 144% invested. Only so much more I can do LOL. But if I borrow from a bank for every $100 I borrow I can invest $200 more (using the broker's margin).
LOL, friend of mine took half million loan and put his paid off house as collateral, his slam bam option system he did not backtest, and his hedge fund accountant said to liquidate profitable positions this past December 30 to show a profit for the year. Haaaa, legged out of part of spreads. So he owes IRS 50k which he don't have and lost the 500 grand. "Oh, honey, "we" have to go back to work....for another twenty years. Yea, go out and get a loan
You should consider a payday loan in addition to maxing out a few credit cards! Nothing says "surefire trading strategy" like constantly needing to dig yourself out of a hole.
https://www.creditcards.com/balance-transfer/ Get one card, do cash advance. Then get another card that allows 0% balance transfer and no interest for as long as possible. Transfer the balance from the cash advance card onto the balance transfer card so you don't pay the high interest rate. Usually the card won't allow you to cash advance more than 25% of the credit limit so you'll need to do the balance transfer trick a few times. If you have a card that has a 0% purchase APR for a while, you can look for cash reimbursement opportunities...such as picking up the tab at a company dinner and then getting reimbursed cash payroll the following week or two, offering to pay for dad's dialysis treatment and then getting reimbursed medicare govt cash, or go to your local gas station and ask if you can pay for someone's gas with your card in exchange for their cash...lots of ways. Don't worry about the interest rate, you can simply pay it off with trading profits once it's due.
This thread is rivaling Ken's "Don't worry about the interest rate, you can simply pay it off with trading profits once it's due." You have faith Soys trading ability obviously. But if it all goes pearshaped?