Should you take a loan to trade forex?

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1. The forex just like every financial concept or investment as much as experience is needed, capital is quite fundamental. Many traders are lost to how to generate this capital as this is supposedly supposed to be their risk capital (an amount of money they wouldn’t losing heavily). Some have options in investing their savings, others even actively use their direct income. If we are not doubting the profitability of the market and the ability of the forex market to reward diligent traders, do you think it is best of tactical options to take a loan to finance the beginning of your forex trading journey

 

It would be unwise to invest/trade loaned capital. To be honest not much capital is needed to start your forex trading journey, if you visit other pages of this forum you can actually find postings of several brokers that give you a sign up bonus for trading, the only catch it you can only withdraw the profit you make.

The common saying in investing/trading, "Dont risk money you cant afford to lose". Any trader looking to start trading should do so with a demo or small deposit. If you cant grow a small account or paper money account, whats to say you can grow the $10k (or other) loaned amount? It is best to start off small, learn and grow. To say that someone is not doubting the profitability of the market is kinda negated when mentioning STARTING Journey.

My advice to any new or inexperienced trader: Start off small, preferably a demo account. Dont think so much of profiting, but actually surviving the markets. Learn money managements, because its the only thing you can truly control. If you start off with a Micro lot account and risk less than 2% per trade. At least if you wipe out it wont be over night. The longer your in the game you will start discovering your strategy, what works and what dosent. Another thing is to not rely to much on indicators. Price action, support & resistance and fundamentals should be your focus. If your new then dont make the common mistakes everyone makes, dont risk to much, survive to fight another day, learn & apply (take notes of what works), dont revenge trade (losing trades is part of the game, dont try to recover by opening another trade without analysis), also make some budies on line and reflect upon each others trading ideas (always ask why).

Ive been trading for more than five years, Im not to active on forums lol i just sign up generally to have access to certain things. If you or anyone wants to add me on skype for some strategies, need help finding bonus deposit broker or need a trading buddy.

skype: steve.magana1

 

This is a big NO NO. Traders are always advised to trade forex with just an amount they can afford to loose. Trading forex with a loan is a very risky thing to do. Taking loan to trade is not even necessary these days since brokers now allow traders to start a real account with as low as $1. I started my firs real account with just $50 on Profiforex platform.

 

I agree with the "scholzt". You should not take any loan to do the FOREX trading, because it is too much risk. On the other hand the Stock trading to less risk than the Forex. So you can do the Stock trading. Thanks.

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