Well (with a plan) Forex is still one of the fastest medium to big money!!
I assume your trading system is manual. Emotion is always besides you. Borrowing money to invest in Forex is very dangerous. It can pollute your mind because of the pressure that you should be winning or else you will sacrifice paying the money you owe plus the big interests on it.
Forex is not all about winning it’s more about considering loses to win. Also, you can still make money in Forex even without huge amount of capital. There are lot of penny brokers there. You can start as little as $100 and have a wider stop loss just like having $100,000 capital.
Also, I advise to jump to real trading even at $50 funding. Try to turn it to $500 before considering adding more funds.
Emotion in real trading is different in demo trading. There are lot of people I know who are successful in demo but struggling to make money in real account.
I never borrows the money for ue capital for trade in forex business , i think its bad idea when to do so cause sure its will impact of psychology . sure the mental state will get more pressure to have intent to back the loan as immadiatelly but in fact we will always entry in wrong positions
Hi,
yes I did. I took 15k loan which I was able to repay within a year.
Its good you repay your borrowed amount. Other wise people hardly recover their invested amount. They are tense due to loan they have to pay . I think one should avoid loan for money until they are not in forex trading having confidence of making profits.
I am almost certain that someone mentioned that it is not wise to invest with borrowed money. In the case that hasn’t been mentioned -> It is not wise to invest borrowed money!
I strongly recommend against borrowing money to start Forex trading. No matter how good you are when you trade on a demo account, trading with a live one will add significant psychological pressure. Not only you will worry that you’re trading with real money, you’ll be worrying about how you’ll return those money if you make a mistake and lose them. It’s a bad, bad idea.
I think you are newbie and willing to start forex then it would be good if you start trading with your own but little money and do not borrow the money from anyone if you have no experience to trade.
Please keep in mind that in Forex you can LOSE MORE THAN YOU DEPOSIT. If you borrow money from someone and if you overleverage you can wipe out your account in an instant (trust me, I’ve seen this happen many times in the past, on JPY and last year on CHF), and if some weird thing happens (like the EUR/CHF floor removal when liquidity was gone) your stop loss might not get hit and you could end up owing the broker several hundred thousand. It happened in the past, it WILL happen in the future (not necessarily with CHF, but on some currency pair for sure). Don’t borrow, or if you do make the guy who gives you money understand the risks, that they might get their whole money blown.
Only invest what you are willing to lose. I dont recommend borrowing ever cause if the account goes belly up it is not like you will have any assets you can exchange in order to recover some funds.
What about the leverage? You don’t need this huge sum to trade with a high leverage. it’s risky, but it’s real. A loan? No way.
Use high leverage will risky if we can’t control our emotion, but if we always safe trading with use smallest lot size I think high leverge still can used and this giving advantage for small capital.
But borrowing mney from another people or from the bank is not good idea beause if eventually get failure and losing all money hence will make double stress.
No one can grantee success in forex market so it will be a very bad idea to borrow money for trading. Even if you are a good trader you should not take such a high risk in your trading.
It is quite right that forex is risky and tough business and trading with borrowed money can be dangerous but I think we should accept the challenge and should start the real trading even with borrowed money, I was also start my real trading with borrowed money.
I don’t get the idea of borrowing at all, especially in forex. If you’re paying your mortgage - it’s one thing. You will pay it otherwise you’re just an irresposible loser. You HAVE to pay it. And here there is no certainty and no 100% guarantee that you’ll get your money back or (huh!) even double it. You may or you may not - it’s all about chances and luck. Skills matter but when you’re skilled you already probably have enough money not to borrow. So no, no and no again.
Money should never be borrowed from someone so trading should be done with proper trading knowledge and skills to minimize the risk.
Never buy money for trading becuase this business is highly risky and it requires proper money management skills so practice more and improve skills
I had never borrowed money for trading. I did some posting on some paid forums to gain some trading bonus. Also I won some competition to get some money for trading in my account but never borrowed money for trading.
Money should not be borrowed from some one in Forex business because this business is highly risky and we can lose all our investment so we should improve our trading skills to reduce the loss factors.
I would say that i will start a decent amount around $1000 USdollars. And if the 1000 dollars gains or generates more than 100% of your Capital, lets sayyyyy… you capital 1000 and you gain 1000, then you can use that winning money to trade but withdraw back your hard work earned money so its gunna be a win win thinggy.
Now, If we want to loan money for fast track for Forex, hell yeah! why not?, its our own money and its up to us. Be brave… Trust ourselves, believe in yourself, everyone should Trade Hard since life is short. Like i said its our own money. We can do anything about it.
Now, beside loaning, at back there are many things to consider.
Our strategy…
Our risk management…
Our Health ( includes our sleep ), well if we work night shift, we can always trade part time, why not?
Annnnnd etc… etccc… etccc…
But there’s one thing that i want to tell to anyone before loaning money. " Don’t loose your shirt Bro."