daytrading loans

P

pumpkinhead

Who gives money loans to daytraders? All the loan company's I called said we need a job with a paycheck to give loans. I explained to her that I have a W2 and pay taxes every year but there is no paycheck. She didn't care, she said that I have to have a paycheck job to get a money loan.

Anybody know where I can get a loan to finance my daytrading?
 
100% APR? Are you serious? If you're that hard up, just do an "app-o-rama" with credit cards, use the BT money, and don't pay interest for a year. Its that easy.
 
Honestly, I don't think it's a good idea.

Build the cash up while continuing to record your trades and improve your understanding of the markets.

To fund an e-mini account all you need is 2k for 1 contract to do some decent trading.

After that you can just build your account with your profits.

Good luck,

Jimmy
 
Quote from thegazelle:

100% APR? Are you serious?
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It depends on the state and the 100% is only on the minimal amount. BTW, New York is not on there, since NY is one of the toughest states with consumer law.

It's loan sharking business made legit.
 
While taking a loan is a risky proposition to fund your trading, try www.prosper.com

A friend of mine recently applied for a 'business loan' where 25% of the proceeds was to go to equipment upgrades and some of the remaining to fund the trading account. He got $25k. Granted, it came in over 700 bids, but in the end, he got $25k.

Just an idea to think outside the box. Your interest rate is a function of your credit worthiness, so check the site out.
 
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