Loan Application - Why you must trade this market

kmiklas

kmiklas

I made an appointment with my bank loan officer for some working capital. He said that how one traded in the 2008 mortgage crisis is a good indicator of how good one is at managing money.

Opinion: Trade this market. Earn your stripes. This is the kind of market where fortunes are made, and you can prove yourself. Now is the time to show what you can do. Smart trading now will serve you for years to come. Girder up your loins, and FIGHT.

I'm hearing newscasters say "Get into cash." F that. Now is the time to hone your skills. You are David, and this market is Goliath. Whatever your trading style, get in there and trade.

:strong::fistbump::finger:
 
kmiklas said:
I made an appointment with my bank loan officer for some working capital. He said that how one traded in the 2008 mortgage crisis is a good indicator of how good one is at managing money.
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You should warn people to only borrow money if they can afford to lose most of it and still make the repayments for years after.

If they can easily risk that, yeah then go ahead and borrow.

But there is recession looming and you might lose your job and your own risk capital and then the banks money on top and so be faced with extra debt repayments while out of work. Thats not a nice place to be.
 
kmiklas said:
I made an appointment with my bank loan officer for some working capital. He said that how one traded in the 2008 mortgage crisis is a good indicator of how good one is at managing money.
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With what collateral? My understanding that you cannot use HELOC money to play the markets, but not sure what would the consequences be.
 
kmiklas said:
I made an appointment with my bank loan officer for some working capital. He said that how one traded in the 2008 mortgage crisis is a good indicator of how good one is at managing money.
More...

You're not goldman. Daddy Trump won't bail you out when your trades go wrong and you don't have insider information.

Trading on a personal loan is positively retarded. Find someone to stake you with your cash at first loss. At least then you get leverage and only lose what you have.
 
gaussian said:
Trading on a personal loan is positively retarded.
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For most people yes, but for the argument's sake, let's say one has a steady income that can easily cover the monthly payments. You can create a portfolio of dividend stocks that will exceed or come close to the rate you are paying, can't you? It's safe to assume that stocks will bounce prior to interest rates going up significantly. I don't think I would actually do it, but during 2008 crisis I had Prime MINUS one HELOC! I actually called the bank and asked what will happen if Prime goes to zero :)
 
I don't know what kind of guy can make a billion out of this market.
Ah .... yes ... half billionaires.

You better had some long OTM put option before the collapse.
 
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