Getting a loan to day trade (but not to day trade)

Quote from HolyGrail:

You said businesses get start up loans. That is VENTURE capital unless the person borrowing the money has a whole lot more in it than the bank. This guy was talking about getting a loan to start day trading.
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You are being dense. What the hell is wrong with your brain?

Jesus Christ, I said he could go borrow money under HIS name as an UNSECURED PERSONAL EXPENSE LOAN to fund his account.

No shit it's really for venture capital purposes, but he doesn't have to APPLY FOR A BUSINESS LOAN to use the proceeds for business purposes. A personal expense loan works just fine for that. Especially if he doesn't have an LLC or anything and is trading as a sole proprietorship or whatever.


Do you have a fever or something?
 
Quote from HolyGrail:

I have been in business for 35 years, probably more than your age. I know all about unsecured loans. I know they exist. You will just not ever get an unsecured business loan. Try it sometime, and get back to me.,
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I never said you could.

Again, read the post that I made. You're making yourself look less intelligent than you really are because you are not paying attention to the post, but yet you keep on replying to things I am not arguing over.
 
Quote from Reaver:

You are being dense. What the hell is wrong with your brain?

Jesus Christ, I said he could go borrow money under HIS name as an UNSECURED PERSONAL EXPENSE LOAN to fund his account.

No shit it's really for venture capital purposes, but he doesn't have to APPLY FOR A BUSINESS LOAN to use the proceeds for business purposes. A personal expense loan works just fine for that. Especially if he doesn't have an LLC or anything and is trading as a sole proprietorship or whatever.


Do you have a fever or something?
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Yes, the fever is very high right now. Maybe you can loan me the money to see a doctor.
 
Quote from Sky123987:

10.5% they said.
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Yeah you have to outpace your interest rate of course, but I imagine that a profitable retail trader could turn over much more than 10.5% a year. Of course once you're trading size that would probably change...but I am talking about trading a $50-100K account.

If I could only hope for 10.5% a year return I wouldn't be trading. The risk isn't worth it to me to only get 10.5% a year ROI. I am not talking shit about my trading ability, but in general, 10.5% a year isn't a high bar to clear for a private trader, assuming one is a profitable trader in the first place of course.
 
Quote from HolyGrail:

Yes, the fever is very high right now. Maybe you can loan me the money to see a doctor.
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Do you have assets to secure it with?

I could let you borrow my cowbell. I know a guy that says it works wonders for curing fevers.

Listen HG, you're a smart guy, I've read your posts. But I'm telling you- I know what I am talking about. My words may be getting crossed up in your interpretation, but trust me, I know for a fact that one can make it happen if they appraoch it properly.

No, I haven't taken out a loan personally for my trading, but I know what it takes to get an approval, and it's not illegal. I know what kinds of loans will be approved, at least where I work.
 
Quote from HolyGrail:

LOL, hey you're not going to get away with that. I want one of dem sig-nee-ture loans.
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Sorry, assets must secure the loan. We do have this Chilean guy who says he's a doctor that we can offer in lieu of an actual loan. You have to pay for travel though.
 
Yes you can get all the money you want. The question is how to do it? I have been doing it myself for sometime now,and I learned how to do it by paying $3000 for the knowledge.

The problem you should start with: are you going to make a positive return on the money? Start with that first. If the answer is yes, then the money is not a problem.
 
I received a $30K unsecured personal loan from BOA via an internet site sponsored by Google. I used this to day trade. Day trade...from work. This was interesting...day trading from work. Quite doable, yes, because we have T3, but a bit daunting, sometimes, because I get interrupted from time to time, but not too often.

Well, I made some nice plays, getting the account up to a $4K profit at the middle of my ride up the SKF ETF one morning. Well, it turned the other way while I was with a client, and I cashed it in for $800 profit. That hurt.

I managed to get a nice $3K profit on SKF again. I was doing well, until I found the charm of options. I was hooked, did great, but then blew out the account down to about $5K. There went $25K.

So, I called back and was able to secure another $20K. And now I'm staring at $25K of loaned money, with a second chance at making the million.

I have a strategy that is working great on TOS papermoney (just made 16% in 3 up days), but I have yet to move it to realmoney.

Anyway, just wanted to say that, yes, it is possible to secure a loan, and not just once, but twice.

Yes, folks, it's that easy.
 
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