How to get a loan for 25K to trade stocks/futures?

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russianking

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So im almost 20 years old working full time min wage 7.50 an hour. Im starting school in january but for 2 years in community college my parents are paying and i ahve to pay for the university when i transfer. Anyway i need to raise as much capital ive been learning to trade for 6 years and im definatly ready to make a good amount of money. When i lose its nothing big but my profits run high. I only have 1K in the bank but want to take out a loan for this how can i do this? I KNOW some of you may think ohh thats just risky but remember its not like im gambling here I WILL PROFIT. and look at bruce kovner mazed out his mastercard for 3K to trade.
 
I KNOW some of you may think ohh thats just risky but remember its not like im gambling here I WILL PROFIT
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Brave words but how do you know you will make a profit ?


Paul
 
russianking said:
SI only have 1K in the bank but want to take out a loan for this how can i do this? I KNOW some of you may think ohh thats just risky but remember its not like im gambling here I WILL PROFIT.
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Why not delay entering university and compound what you already have. It is always good to make it on your own. And you will not create an enemy in case your strategy proves to be more of a gamble than you anticipate.
 
I just know. My strategy/method is obsolete. Seriously though how can i take out a loan and with who? Even if its only 10K ill be fine as long as i have more.
 
You're young, 1k should be more than enough to grow an account without getting into bed with debt.
 
forker said:
Not if you are spread betting them
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Yes, it is. You'd be a mug to intra-day spread bet stocks with £1k. Also you can't have a portfolio or any flexibility, you're going to be pretty much all in over 1 or 2 trades unless you want to **** about for a few £/pt on penny shares.
 
How do you get a loan to trade stocks and futures? The only way to do that I imagine would be to lie on the loan application.
 
open an account with Interactive Brokers - they offer 10:1 leverage on stocks n shares.

Assuming you pass their credit checks.....
 
Masquerade said:
lol, £1k is sod all when it comes to stocks.
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Don;t trade stocks then.

Basically, you should pick a bank with a bad credit ratring, take the money, and hoipe they go under because you're probably gonna lose all of the loan anyway.
 
SanMiguel said:
Don;t trade stocks then.

Basically, you should pick a bank with a bad credit ratring, take the money, and hoipe they go under because you're probably gonna lose all of the loan anyway.
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Wouldn't matter if the bank did go under.
Loan would still have to be re-paid.
Administrator would sell the outstanding book debt business.
 
counter_violent said:
Wouldn't matter if the bank did go under.
Loan would still have to be re-paid.
Administrator would sell the outstanding book debt business.
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Just tell em to get lost, or go bankrupt. It's not exactly a big deal these days.

Or let them take you to court and pay it off at £3 a week. Inflation will take care of it for you.
 
1/ If you have been making money for 6 years I do not see why you need a loan you should be loaded by now.
If you are really that good, just put 1k with any broker and let your bankroll grow with your profits.

2/If you open an account with leverage it is exactly the sane as getting a loan mate.

With Ig markets you can get margin of just a few percent to trade big indices and you can get away with a 10% deposit . You just need 1K to trade the equivalent of 10k of shares and the borrowing rates will only be Libor +2% so around 3% much better than any personal rate.

No one will lend you any money unless they have big guarantees or collateral so that the best deal you can get.

No need to go uni if you want to be a trader: did warren buffet go to uni ? Do you want to load yourself with 20k + debt and get a ****ty job in the end.
 
titeufint said:
1/ If you have been making money for 6 years I do not see why you need a loan you should be loaded by now.
If you are really that good, just put 1k with any broker and let your bankroll grow with your profits.

2/If you open an account with leverage it is exactly the sane as getting a loan mate.

With Ig markets you can get margin of just a few percent to trade big indices and you can get away with a 10% deposit . You just need 1K to trade the equivalent of 10k of shares and the borrowing rates will only be Libor +2% so around 3% much better than any personal rate.

No one will lend you any money unless they have big guarantees or collateral so that the best deal you can get.

No need to go uni if you want to be a trader: did warren buffet go to uni ? Do you want to load yourself with 20k + debt and get a ****ty job in the end.
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Ignore this bullsh1t above - trading is just gambling if you haven't got an economics degree from an ex-polytechnic.
 
lMFAo trading is a skill and if you disagree with my MAN Mike Bellafiore or hell even richard dennis well... and im not trying to trade on huge leverage like that thats gambling..
 
russianking said:
lMFAo trading is a skill and if you disagree with my MAN Mike Bellafiore or hell even richard dennis well... and im not trying to trade on huge leverage like that thats gambling..
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Say whut Sucka?

Tradin' is gamblin' UNLESS you pay attention to guys that KNOW THEY SH1T - like Robert Peston offa the BBC.
 
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