borrow money to trade

[NanoTick]

Has anyone borrowed money from friends and family to trade? What does it take to convince them of your ability to make money for them?

 

[lawrence-lugar]

Has anyone borrowed money from friends and family to trade?

What does it take to convince them of your ability to make money for them?

Stupidity.
I can't imagine anyone ...rational ...would give money to a friend or family member to trade.

Trading is generally a lone adventure,
But if you're truly/genuinely good...then you should flourish on your own in no time;

You only need a relatively small, seed account...and things will grow exponentially if you really have magic, -- and if you don't have that magic, then consider it a blessing you didn't do bad by any family member or friend's money.

 

[Zzzz1]

Don't do it is my best advice to you. If you have an edge and a track record to prove it then you should have no issues raising outside funding.if not then borrowing money from friends and family can and will only end in disaster and tears.

Has anyone borrowed money from friends and family to trade? What does it take to convince them of your ability to make money for them?

 

[JackRab]

Go for it... borrow as much as you can... preferably at 15% rates at least to give you a decent incentive. That way you mum and dad are covered as well, since they make 15% yearly! Win win situation... I don't see any pitfalls...

 

[CBC]

I don't see any pitfalls...

Neither can I.... go for it Nano. Double

 

[southall]

Has anyone borrowed money from friends and family to trade? What does it take to convince them of your ability to make money for them?

Your Opening post does not make sense.
If your aim is to 'make money for them', then you are managing money for them, not borrowing from them.

So which is it? borrowing or managing their money (and i assume taking a cut any profits)

 

[algofy]

if you borrow money, just make it very clear upfront that there is a decent chance you are going to lose the money and won't be able to repay. If it's piss away money from them, maybe it can work.

 

[Zzzz1]

No pitfalls? How about tainted relationships for the rest of the life? Dumb advice to say the least

Go for it... borrow as much as you can... preferably at 15% rates at least to give you a decent incentive. That way you mum and dad are covered as well, since they make 15% yearly! Win win situation... I don't see any pitfalls...

 

[southall]

Parent maybe, friends and siblings no.

Emotionally you cant win in the long managing money for people you know.

If you lose they will not be pleased and you might never hear the end of it.

If you make them money, but after a fews years decide you want to return their money back plus profits and trade on your own.
Many will not be pleased about that either.

 

[Laissez Faire]

I lent from a bank and lost it. I'm lucky it was a small amount.

If you're successful, you don't need outside money. That's the bottome line.

So, since you're not successful, lending money from friends and losing it will only add more misery to your life.