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Can you borrow money from the bank to trade forex?

Steve Walker
walker36 (walker36)
Dec 31 2011 at 09:20
1341个发言
FX is a scientific gamble. so basicly you are asking to gamble with borrowed money. if this sounds good to you dont wait. me? I wouldnt!!

smartpips (smartpips)
Dec 31 2011 at 09:24
13个发言
Creditcard 😇

s1quash91 (s1quash91)
Dec 31 2011 at 16:23
13个发言
Never borrow money to trade forex!!

rafiqhidayat
Jan 01 2012 at 10:35
1个发言
If you can take a personal loan with an interest rate of 4% / annum, would you still do it?

I.e. taking a USD 30,000 personal loan at 4% / annum, and repay in within 36 months, you would pay USD 1,200 on interest on a yearly basis or USD 3,600 for the whole term.

It's still lower than credit card interest, and if you're a trader worth your salt, you should be able to at least at a minimum earn 10% equity growth on a monthly basis.

Just saying.


Splexin
Jan 01 2012 at 10:56
202个发言

   rafiqhidayat posted:
   If you can take a personal loan with an interest rate of 4% / annum, would you still do it?

I.e. taking a USD 30,000 personal loan at 4% / annum, and repay in within 36 months, you would pay USD 1,200 on interest on a yearly basis or USD 3,600 for the whole term.

It's still lower than credit card interest, and if you're a trader worth your salt, you should be able to at least at a minimum earn 10% equity growth on a monthly basis.

Just saying.



Fear has a unique way of keeping people from succeeding.

Only reason I use my credit card is for the reward points 😁 I've never paid a dime in interest because I've learned the tricks of the billing cycle.

As for the loan I would totally do it, only because I know in less than 3 years I could crank out a net of 17-22 good trades ('good' = 100 pip winners to me)....the number necessary to pay it back in full (differs according to individuals MM). I currently net an average 100-200 pips per week, and that's checking charts for 5 minutes a day (or sometimes none at all). If I sat in front of the charts for 12 hours I could probably bag 80-100 per day.

Maybe the concept doesn't make sense to some but people mortgage their house for 30 years when there's no guarantee the value will go up......or make payments with interest on a vehicle that's guaranteed to go down in value.....none of that makes sense either......

s1quash91 (s1quash91)
Jan 01 2012 at 21:48
13个发言
i said not to borrow money because some people believes they can do it but they haven't even succeed in the demo. You can borrow money if you have succeeded in making money with a track record of at least a year. I believe 99% of people will fail in trading.

Hence, generally people should not borrow money to trade because you must take into account the risk you are taking. What if you lose it all? Will losing this borrowed money jeopardise your life?

Regards.

wenztan (wenztan)
Jan 03 2012 at 01:27
27个发言
Pretty agree with s1quash :)

Help each others and make it stronger =)
frxsoftware
Jan 17 2012 at 12:39
4个发言

   Orientalgeneral posted:
   Heheheheh, wondering if anyone have that heart, cos the interested rates may put the pressure on u, seen bank with 25% interest rate everymonth, it will take a trader that have balls to take such loan.😁

So have u ever done that?


It not a problem for professionals

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