Generally I would agree, however there are exceptions and Spring 2020 was one. With rates at historic lows and supportive macro environments, if you can reasonably cover your cost of carry(the interest rate) borrowing to invest is not a terrible idea.
Getting Funding for Trading?
- Thread starter stockpredictor
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Generally I would agree, however there are exceptions and Spring 2020 was one. With rates at historic lows and supportive macro environments, if you can reasonably cover your cost of carry(the interest rate) borrowing to invest is not a terrible idea.
Right. Some time ago my friend asked me if I would consider trading his money. I told him that it’s a funny thing - While I am not sure I can make money trading, I don’t want to take (risk) his money. But once I know I can make money trading, I don’t need his money.
There are exceptions to this, but for most retail traders, this should be true.
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Starting a business (he didn't mention)...Yes...as a business loan but not as a personal loan. Yet, his trading is not under a business (e.g. LLC) or else he would have mentioned such unless I missed it in his message post.
Trading purposes via a personal loan...No because he's asking now in 2021...not the spring of 2020. Everybody and their grandma made money off the V bounce in the markets and it won't last that typically enable people to think they have an incredible trading system.
Best to just keep trading...keep growing the account and have a job too to add to the account growth. Keep his expenses low and he'll reach that 6 figure account. While he's growing his account...learn as much as possible about risk management so that he does not have a blow up.
wrbtrader
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Didn’t expect to get so many responses. Instead of replying to each one, I’ll put all responses into this comment.
Prop firms usually get you to pay upfront or some subscription fee. Then they let you trade with their money but have small position and drawdown limits, so you can’t really do anything. They basically make money through fees.
Family isn’t big money, and loans are not big either. Unless I say I need it for a house, in which case it would be fraud.
Someone insinuated my journal is fraudulent. Fool, look at the timestamps on the entries and exits. No edits either. Tune in next week for more. I can replicate my performance in any market condition, at any time. How much do you want bet I’ll turn a profit next week? I’ll call entries and exits live, as I always do.
That 100%+ is not typical, and I did say I was trading aggressively. If I trade with equity and a max buy power of 2x, it should consistently get around +10%-15%/mo avg. Again, such large gain of a double+/mo is NOT indicative of the system.
No, I don’t think yoloing is a good idea. Keep in mind that my system also uses a time factor as well as a price factor; it can go against me before barely reaching breakeven within the timeframe.
I used to have a job but then covid happened. I am also ill with something else since I was a kid and long story short, its not easy to get a job for me due to those things.
C2 takes time and they take half of the subscription fee. Even then, the top ones don’t have that many followers either. I want big money, and fast.
Not sure about Sharpe and Sortino, but I don’t have much drawdown anyway, even on bad trades.
Yeah I think I’ll probably go with the guy I know. He has good money and wants to make more.
I don’t know how many people have actually looked at the spreadsheet I posted- a big chunk of those trades are shorts, and even if we ONLY look at short trades, it still is massively profitable. This shows that it is not the beneficiary of the bull market.
Prop firms usually get you to pay upfront or some subscription fee. Then they let you trade with their money but have small position and drawdown limits, so you can’t really do anything. They basically make money through fees.
Family isn’t big money, and loans are not big either. Unless I say I need it for a house, in which case it would be fraud.
Someone insinuated my journal is fraudulent. Fool, look at the timestamps on the entries and exits. No edits either. Tune in next week for more. I can replicate my performance in any market condition, at any time. How much do you want bet I’ll turn a profit next week? I’ll call entries and exits live, as I always do.
That 100%+ is not typical, and I did say I was trading aggressively. If I trade with equity and a max buy power of 2x, it should consistently get around +10%-15%/mo avg. Again, such large gain of a double+/mo is NOT indicative of the system.
No, I don’t think yoloing is a good idea. Keep in mind that my system also uses a time factor as well as a price factor; it can go against me before barely reaching breakeven within the timeframe.
I used to have a job but then covid happened. I am also ill with something else since I was a kid and long story short, its not easy to get a job for me due to those things.
C2 takes time and they take half of the subscription fee. Even then, the top ones don’t have that many followers either. I want big money, and fast.
Not sure about Sharpe and Sortino, but I don’t have much drawdown anyway, even on bad trades.
Yeah I think I’ll probably go with the guy I know. He has good money and wants to make more.
I don’t know how many people have actually looked at the spreadsheet I posted- a big chunk of those trades are shorts, and even if we ONLY look at short trades, it still is massively profitable. This shows that it is not the beneficiary of the bull market.
So, any prop shop would love to have you. Your buying power will be increased within a month and the profits will cover any initial deposits.
There is something you are not telling us.
hey I want to be fat and make hicolor videos about me doing excessive paperwork.
I think they have things called jobs ? I had a few at one time , otherwise friends and family , you won't get it from a bank unless you are very good at lying (fraud)
I think they have things called jobs ? I had a few at one time , otherwise friends and family , you won't get it from a bank unless you are very good at lying (fraud)
I'm skeptical of these so called prop shops. I looked it up and they don't make money from traders, just be selling their course and fees. This makes me think they never had the intention of trading. I called one of these shops and told the lady. She pretty much ignored what I said, and tried to press me about the forex course. Maybe it was just 1 bad experience, but I don't think they work. My mental image is being a Jesse Livermore type to get funded quick and easy from someone and make big bucks quick.
I even made a free Twitch channel and invited lots of people to come and see me trade live, on a public trading site (not just this one). After all that, guess how many people tuned in? Just 1.