Bitcoin Forum

 A lot of mistakes people make a lot is going into bitcoin trading without any steady source of income. While it is true that  bitcoin trading can change your life for good, you should also know know that it could also wreck you. First get enough knowledge, make sure you are working as this will help you fund your trading accounts. Only trade what you can afford to lose.

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

Do not forget that you should always risk what you can afford to lose.

This has been said so many times in this forum, i am not sure if it warrants a new thread on this same matter, but...yeah.
Even if you manage to get the knowledge of trading and start making some money from it, it still isn't enough reason for you to quit your job. You cannot be certain of making money continuously from trading, but if you have a job, you can be almost certain you'll get your salary at the end of every month, except you get fired.

All that you have said is important before one should consider going into Bitcoin trading. When individuals go into trading without a background knowledge of the market, it normally ends in losses and regrets. The first thing is to take time and learn about trading before putting in money. And newbie traders are also advised to start trading with little money since they might make some mistakes that might to losses.

Some traders do it as a full-time job because they have become professionals in the business. It will be risky to resign from work to become a trader when you are not sure that it could replace your job financially. It will be safer to venture into trading on a part-time basis until you are sure that it could be your main source of revenue.

There have been cases of people selling properties or taking loans as trading capital. This action should be discouraged because trading is highly risky. It is better to invest what you can afford to lose or what you can live without.

It is better to on the payroll of a company, firm or government than just relying solely on yourself. Trading is very risky and one can acquire a big loss from one trade which makes it not secured as a means of earning a living.

Trading should be seen as a side job, and should be done with caution to avoid regretting your actions of trading often, because the market is all about profit and loss.

It is better to invest than trading, because trading is complex and have a lot of risk attached to it unlike investing, that has less stress and tension.

Since I have come across similar threads like this I think it's high time we consider giving other advice and informations since people are already tired of seeing the same thing especially from newbies. All you pointed out is true but it has been discussed countless times here and I think anyone who's a member of this forum who is yet to have this knowledge about the necessary things to do before going into trading and other bitcoin investment is either not a regular user of the forum or the person is not interested in reading here as well.

Any trader who has got no knowledge before going into trading is a real joke because he's going to end up going back to poverty likewise a trader who has no back up plan, you never can tell the results you will get that will vanish all your trading capital that's why you are always advised to trade with caution and don't put everything you have into trading 😉.

No steady income is not a requirements on Bitcoin trading. As long as you have a capital which you can’t afford to lose then you are good to trade. You are pertaining to Bitcoin investment here since you will need consistent source of income to increase your Bitcoin investment and to sustain the growth of your assets.

Trading is different on investing. You are buying and selling Bitcoin using same capital until you grow it through your trade profit. Having a source of income will just fuel your trade to trade more if you lose.

But of course having a steady income is always a must since you are risking money on trading but it’s not really a big factor since you are using same capital on trading unless you want to grow your capital consistently by adding from your salary and not through trade profit.

Well thats a rule of thumb only invest money you dont need or extra. If not then thats gambling already. Its okay if you use that but you are sure to win or gain profits. Dont leverage something youll regret once you lose it.

More users have experience that and resulted to becoming crazy or broke hard.

Its something common that you found out people being too desperate to make money because they want to earn a living without minding taking the risk involved which i see as nothing bad as well, all we need to do is to start the appropriate way and learn first before going into what we don't have an idea about.


We are making a lie if we should say that there is no risk in trading, so we shouldn't put our entire investment into trading, we need to make diversification of asset on things we invest on.

To trade you need money and you also need money for other needs, if you stop working how will you be able to meet all these needs, so you have to think about this carefully.
Even though trading requires full time, you can trade while working and manage your time as best as possible so that both work well.
Because to be a successful trader you must have experience of around 3 or 4 years and from the last 2 years before that you must be able to earn 3 or up to 4 times your income from your job, and that way you can make decisions. But in reality it is not that easy, it is better for both to go hand in hand because we will not know what will happen in the future.

And this is something that must be done for beginner traders, and they also have to do it with small capital first to learn about trading as a whole and also the risks involved. Apart from that, you also have to know your own characteristics, especially mental and emotional qualities that must be trained and changed because they can influence your decisions.

I remember, I've seen a lot of memes on 2021 when the craze of NFT was on its peak. Many have left their jobs and thought that playing NFT games will be their career forever.

Charge to experience that everyone shouldn't leave their jobs when they're investing and trading. But if you're good enough and sees that you can sustain your life through trading and you're making decently, no one is going to stop you.

Just trade and be profitable and show results.

Before you trade bitcoin, don't trade bitcoin. Just HODL. You won't lose any money by HODL but in trading bitcoin you must lose money and it is the destiny for most traders. Before you trade bitcoin, ask yourself if you see yourself doing it for long term, if you can be the best in the world at trading bitcoin or it's something you want to do because you watched a TikTok video two days ago and saw the glitz and glamour of those celebrity traders, social media influencers traders and you liked it and thought you should try it.

I don’t know how some people see bitcoin trading that they have the guts to invest their life savings into it, they probably don’t know much about it and they believe it is a platform where they put in money and expect profit without any form of risk attached to it. Trading is not something a person should venture into without seeking knowledge first and also trading with an amount you cannot afford to lose is not encouraged because your mind will never be at ease while trading and trading with fear or tension is likely to end at loss as the fear and tension will definitely influence your decision making.

Investing money you don’t need at that time so you won’t be so bothered about it, trading with money you want to use like your life savings is really a dumb idea as it is more like gambling it away because just like gambling trading also has a 50/50 chance of success.

Experience is helpful but it’s not a guarantee for success in trading, even experts lose money and can go broke as well.

In life, you are not supposed to have just one source of income, you should have multiple sources of income in case anything happens to one, and then you will be able to depend on others. So as a trader, having just one source of income doesn’t make any sense to me. If you are a trader, don’t enter a trade with all your money, make sure you trade with just part of your money in case things goes wrong, then you will be having backup.

Most people that do this don’t have knowledge about bitcoin before joining, some of them just hear about how profitable bitcoin is on social media or from friends, and they also decide to jump into it, thinking they will be able to make quick money. Don’t invest or trade with all your life savings, the amount you should leave in crypto is the amount you know you can afford to lose.

During the last bull run, I knew some people who quit their jobs because they were making good profits then, and they believed trading was just better than the work they were doing. But when the bear market started, they all regretted why they quit their jobs because they were no longer making profits, they were losing, and they had to start looking for new jobs to support themselves.

Nowadays I believe that most people know that if they trade the chances of making a profit will be very difficult and even if the person is the type of person to ignore all the advice given by other people and keep trading, in a few weeks This person will lose all their money and will go back to reading and listening to the advice given by other people and will start investing in bitcoin and will not continue trading because by trading the person will not be able to obtain good profits, they will constantly lose money. In this cryptocurrency market, things like day trading do not work. The person who continues to insist on day trading will spend many hours on the computer screen and then not make a profit.


Even if a person spent 50 years studying technical analysis, read the chart, the candles, the technical indicators, the trend reversal patterns, that person would still lose money if they were trading and not investing.

Holding doesn’t guarantee anything especially if you are buying at a peak price and just holding without any plan. Before doing any trade, it’s really advisable to have a stable income first and never consider Bitcoin trading as your main source of income simply because profit is not guaranteed in trading. Personally, I consider trading as my side hustle without expecting anything in return, with this kind of mindset I don’t have much pressure about my finances as I can still cover my daily cost using my main source of income.

This has been a repetitive topic already but I still find it interesting to discuss. While trading can make our lives instantly change for the better, but we all know that it does not work as easy as that. Trading requires a lot of trading preparation before you expect to succeed, and a lot of emotional distress and pressures before you can manage your emotions well. Although trading is highly risky, but it’s always worth the experience in the end.

always use your savings only for emergencies in the future, never combine them into one, let alone use it for trading

As long as you are still in the learning stage and are not really involved 100% in trading then avoid leaving your main job, it is very risky if you leave work and then trading becomes your full time

right, if you lose when trading then let it go, never blame other people, always use safe money, not your only money

Before you decide to trade bitcoin, know that you’ll lose a lot  first before you’ll be able to succeed. Trading is never easy but majority still find it hard and risky so it’s not surprising to see a lot of traders losing than gaining profits. That’s why get a decent job first before you decide to enter trading as you can never guarantee making big money out from trading. And also, never trade using your hard-earned money, otherwise you’ll end up losing them all and regret in the end, knowing you’re still not good in managing your emotions that makes the best enemy in trading.

Newbies join this market and start their trading when the market is very hot so they will easily to gain profit in their early days, weeks of trading. They will think trading is very easily and they are genius traders. Their losses start when the market hits a correction time point and massive liquidations on the market will kill newbie traders.

It is not matter that how big or small a trading capital of a newbie trader to start. It is more important that how many percentage of a trading capital compares to all capital of that newbie trader.

Because newbies will have to pay cost for learning, pay for their losses to get experience, they will need to restart their trading many times. This reminds a fact that a trader will need to have trading capital separates to many parts, and they can lose each of these parts, many times.

If they use all money to trade, they will end their trading career very soon after one or two liquidations.

Trading is for learning first with newbies and they can not get profit to use as their main income. If they are jobless, but inexperienced in trading, relying on trading profit for income, will only force them to trading terribly.

For me, this is an important point before investing in Bitcoin, because if you can't control it, everything will affect you, starting from emotions, psychology, and when making decisions. Because basically investing in bitcoin does not make a loss as long as you don't sell it even though the price is falling, holding bitcoin is the key to successful bitcoin investing.

Perhaps the most important thing about investing in Bitcoin is that we have to learn better about securing our wallets because this is the same as securing assets in real life. So you have to secure your personal wallet properly and correctly. Because Bitcoin has security issues, if it is not maintained properly it will be hacked by others, but it also provides a high level of security if used properly. Actually, there are many things you have to pay attention to before investing in Bitcoin, the point is you have to read a lot of references. But what is clear is that leaving work and relying solely on bitcoin is something wrong, it's best to do both at the same time.

The new comers need to see topics like this for them to get reminded. Many of the old folks that have known to these reminders but how many from them were able to do good decisions? We don't know but it's not really as easy as we tell it to the others.

The same goes for investing Bitcoin, it also requires patience and a lot of preparation. Investing and trading seem to be the same but both have their own risk and difficulty and impact to each of us emotionally if we're not ready.

If you quit your job because of bitcoin but don't have deep knowledge about it, that's not a good plan or decision. It's even better that while you're learning about this field of bitcoin, you also have a regular job because this will be your fuel so that you can gradually invest in bitcoin or other altcoins that you discover have potential.

Just don't forget that every time you invest in Bitcoin or crypto, you must also be a risk-taker as an investor trader in this business field.

Before trading in Bitcoin you should first understand the market well, if you don't know about the market then you will face loss most of the time. Which will be the reason for the frustration of breathing later. Consult a mentor before trading and read various articles on Bitcoin trading.

Bitcoin trading is supposed to promote more liquidity and thus more money for long-term investment and not a daily source of income or an alternative to a job. Bitcoin is a high-risk asset but has a good return in the long term.
If you want to invest in Bitcoin, you must first make sure that you do not need the money for at least two years and that you will not be affected if you lose it, then Bitcoin will be very profitable.

Some novice investors and traders certainly don't know this, so they often panic when they see a decline in prices, at which point they don't think that the price of Bitcoin can still rise again so they don't have to sell and bear the loss. Because it's true as you said, as long as we don't sell and still hold the Bitcoin we have, of course we can't be called losers because we can still wait for the price of Bitcoin to rise again. But not everyone is able to restrain their emotions and psychology from selling when they see conditions like that in the market.

This does seem wrong for those who still earn a small income through Bitcoin and instead leave their main job for that, but for those who already have quite a large income through Bitcoin and also through other cryptocurrency businesses. Of course it wouldn't seem wrong for them to leave a job where the income is still quite small, even though what you say is still more suitable for everyone because leaving the main job for something else certainly has big risks. So it's a good idea to keep working at your main job by continuing to trade via the crypto market and also invest via Bitcoin.

People are trading Bitcoin more often but I think if instead of trading we invest in Bitcoin then our loss will be minimum or we will not face any loss if we have learning skills about Bitcoin. Trading requires more time and more energy as compared to investment and you will not work in other jobs properly but will focus all the time in the market chart to check out the price.

Don't sell one thing to invest in other things because every thing has its own value and importance which we should keep in mind. We should use extra money into Bitcoin investment but should not sell our property or something else just to hold Bitcoin.

A perfect advice for beginners which will actually help them a long way in their trading journey, some persons do have the mindset that immediately they venture into trading they are going to have their lives turning around almost immediately and will go as far as quitting their jobs and when they eventually blow their account they get to understand the importance of their job before they started trading and some may actually get regretting, it's very true you can make a fortune off trading but then getting to perfect your skill first is important before you then think of venturing into it fully such that you are going to quit your job for it full time.

The essence of your job will always be to having what to fall back to on bad trading days because trading can never promise to be smooth sail all day or week long, there are times trading can be very profitable and some other times it could be aswell very exhausting in that you may get too many losses and not be able to probably getting to be able to recover almost immediately so always having a plan B till you are profitable enough to still be stable even on bad trading days is actually very important.

It's a different matter if you have no knowledge about something, but when you have little knowledge about something, it's terrible for you. We have long heard the proverb that a little knowledge is dangerous because a little knowledge does not make a person know something well and do something well. If we have a discussion about trading bitcoins and there is an unskilled person at the center of that discussion, trading in bitcoins can bring more losses than gains for him. That person has so little knowledge about trading that it is difficult to succeed in trading. If he magnifies his little idea and if he has overconfidence and if he trades with his overconfidence without thinking about anything then his money can suffer. We need to think before we lose money, we need to learn first because when we can fully learn but we can apply our learning anytime.

Those who are into trading barely have any other work to do because trading is a full-time gig, you can't be trading while having a day job because that contradicts the requirements of trading in which you need to stay active in the market at all times unless you are a part-time trader where you make a couple of trades only when you are free from your day job but in that case, you can't guarantee much profit because you won't have a lot of understanding about the movements of the market since you don't watch it all the time.


Someone having less knowledge and experience about the cryptocurrency market will do such things. Those who have been around for some time would know that they aren't supposed to use money that isn't extra for accumulating or trading cryptocurrencies because it involves risks and despite the risks, one can have their funds stuck in an investment because the market doesn't go up all the time.

Hence, if you want to enjoy your investment and trade it without getting bothered to lose at the process, always have a stable job first that will support all your needs. That way, you won’t think of selling your coins earlier than what you have planned. Bitcoin will never be capable to offer quick profits, so we need to give it a long term scope of investment and see how it creates wonders in the long run.

Also, faith should be established first prior to investing or trading, as you won’t be able to pursue your goal if you don’t have the faith on what you are doing.

Old traders will tell you that you will enjoy trading more when you are not only depending on making money to survive from trading. If you are trading with less pressure, you can do better as a trader, and trading with capital you know you can afford to loose is less pressure on the trader.

 In trading, the slightest error can make a trade go wrong. A trader needs to get all the metrics and analysis to profit from a trade. Little knowledge cannot help.

I think anyone who is active in this section or this board should be aware of these basic rules because to me it's something that is so commonly said overly due to people with the wrong mindset and perspective towards trading. Of a true any person who is going into trading should has these basis for a property knowledge because when they think trading is so simple or feels like quiting whatever business they had to enable them concentrate is the wrong thing to do if I may say because someone needs to be stabilized and probably seen the amount of income being generated from their trading before they could think of putting whatever amount they think of before having to think to quit their jobs for a trading.

Yeah you are correct, there are people who had this mentality that when they started trading then the next thing is to think if quitting their jobs and focused on trading without them knowing that they must have the knowledge required and even as that it's not wise to stop any other business to focused on one particular one because they never can tell what would happened next.

Don't you think every money is needful?
Yes, sincerely speaking to me every money means alot comparing to the whole economy is getting inflated whatever amount that is placed or lose for a cause of trading or gambling is really worth utilizing, but one thing that keeps me going is that people risk to risk and it's very risky not to take risk at this point seems we hold the destiny of ourselves. Meaning we had to work hard to come out of some kinds of had situation, if only person can focused on their presents predicaments then it would be much easier to take a bold step of their lives to take risk.

People tend to clamp into trading because they do hope to get quick profit and they forget that with quick profits comes quick losses as well. Where ever you have a quick way to making money, you should also consider the part to loss and that’s what most traders don’t want to hear. Now, how do you hope to succeed in trading without having to consider the possibility of losses. In fact, this because the bases for you to engage in serious analysis and only get to work with what your analysis and indicators are telling you but no, no one want to do the work and so, they invest in some trading packages with some self acclaimed trader for % returns. Many times than often, it turns out to be a scam or just another loser looking to make more losers.
Trading isn’t easy and you better be ready for it before you go live.

Risk management isnt really just that only for Trading but also in other investments out there or something that you are putting your money into to earn money. This is something that your main consideration all the time.
Also, dont make yourself being that too delusional that you could really be able to make that profits a short period of time or something that you could really be able to get with few tries. This is why it would really be better that you should be having that kind of versatility on the time that you would really be making up some trades and never ever make yourself that be that thinking that you could get on first try.
Market is unpredictable and there's no way that you could really be able to get and predict on wherever it would be going on which it would be a common approach that you would be needing up
to consider on whatever that things need to be considered out first including risk management and emotion handling on which these things are indeed crucial.

Of course, why would you quit your regular job, Bitcoin trading has a lot of ups and downs throughout, and it's not a stable money stream, there are days that you are going to lose and days that you are going to win, and that's why it is often compare to gambling. And throughout my stay here in the community, I have seen threads before in 2018, wherein in 2017 we have a bull run and a lot of individuals make great money and then they think of quitting their jobs and focus on airdrops or bounties or trading. But I haven't seen then for a while now because we all know what happens in 2018 as it is a bear market and those who quit there jobs might have a hard time making money and bringing food in the table for their family. So it's not what others have been promoted, it's very difficult to trade and you need some capital to begin with.

This is the reason a lot of people who have stable sources of income like jobs are just part-timing learning how to trade, that is an example of how risky trading is and will not guarantee to make profits always.
You can trade while you have a full-time job, just proper organize your time and not to be lazy to learn even you have full time job.

This is actually right, I know someone who are planning to quit job after they learned trading (they are beginner) but I told them that it's still better to have a stable income job as newbies tends to make mistake and still in the learning and collecting experience phase. He said that his goal was not to work for a long time and through trading his goal is to have a good profit and have the time of his life at the same time, which is actually good. But it would take time and experience before you get good at trading and actually have a good stable income in trading.

Exactly. When you want to have a real job, don't ever stop working to become a full trader in crypto. Because this is a very big risk. Especially if you are new to the crypto world, there is still a lot you need to prepare, understand and try first. Only after you really have stable gains and are more worth it compared to work in real life, maybe that could be a solution.

Indeed, there are people who are full traders in crypto and don't have a job in real life. However, that's because they have become professional traders. At least they already have their own scheme, so it seems to be their profession now. And this must have been taken into account and experienced over a long period of time.

But once again, never force yourself to give up your main job in real life to become a full trader. because the risk is very high. Still make sure you have a handle and your job or business in real life will be much better.

Understanding the market is very important, but at least there are other factors, we also have to have knowledge about trading, yes what you say is true, if there is a mentor, we will learn much faster or gain knowledge from our friends about what indicators they have been doing so far. But you need to remember that there is no single indicator that is truly perfect for generating profits. It's best for beginners to buy and hold as long as possible, the risk of spot is not much more dangerous than trading. Yes, at least if we hold in spot the assets we own only have an impact on fluctuations in market prices.

I would never want to quit my job to get involved in trading and even if my trading skills were good it would never be done. If we could carry out work and trade simultaneously it would be much better because we would have a much greater income from both. Trading can also be done when you come home from work because trading does not require time like we do when working in real life. Maximizing both will be much better because trading cannot always produce profits because there are times when we experience losses.

The point is don't force things beyond your ability to be responsible and trading should be seen as a chosen path to freedom. Although there is no guarantee that when we trade we can get consistent profits. We need to learn before making decisions and the most important thing is that we can be responsible for what we do.

It's only on social media that someone will come and tell you that you can stay in the comfort of your home and be making a lot of money everyday trading crypto, but any experienced crypto traders will tell you that it's not entirely true. The truth is that crypto trading is hard and not a get rich quick scheme, because there are chances that you can lose all your funds, that is why it's important not to rely on it as a sole source of income. It's important to have a job at hand before entering crypto trading, so any money made will be a plus to your steady income, and every newbie needs to understand that it's better to trade with the amount that you can afford to loose.

It all depends on the timeframe in which you want to trade. Lower timeframes such as 1 minute, 5 minutes or 15 minutes, for example, require a very high level of attention, so you actually have to sit very concentrated in front of several screens and constantly monitor the situation and react quickly accordingly.

On larger timeframes (24 hours, ...), trading is also feasible alongside your job, as you have more time to make decisions and react.

That is one of the hardest things to do, when you are dealing with lower timeframe, you are going to see a lot of stuff and it will not be easy at all, you are going to face a lot of troubles as well. I personally believe that the best thing you could do would be just realizing that you are not going to end up with getting much done else, you can't even take a bathroom break if you are dealing with 1 minute, you have to be totally out and have nothing if you want that, but if you are in, then you need to lock your eyes on the screen.

When you grow old enough to have a family, you realize that it is not possible to do that because there will always be "something" in the house that is "urgent" and you will not be locked to the screen that easily.

"Do not forget that you should always risk what you can afford to lose." This terms is not only true for bitcoin and crypto but also all kind of financial investment like stock, forex or any kind. It is true some people think that bitcoin market is stable like stock and it also only goes upward. When they made a big investment and realize the reality they start calling bitcoin a scam. I think the responsibility goes to the influencers who only shows the positive side of bitcoin or crypto market, which is why most of the new people don't see the negative side of the market from the starting.

Trading is a very complex task. It is very difficult to master.  It takes a long time to learn to learn.  Even then, many people can't be good at it. That's why you shouldn't trade with everything you have. Anyone can trade if they want with the remaining money after fulfilling their basic needs. And once you gain in trading, thinking that you are good at it will be the most stupid.  Never give up your job or stable income for trading because trading with unknowns can put you on the street.

The main or golden rule when it comes to trading or investment;
"Invest or spend only on the money that you could only afford to lose"

Never ever make spend of a loan money or risking your life savings when it comes to investment specially if you are someone who doesnt really like on losing money. Although you cant really be able to earn
money if you wont really be taking any risks. This is why it is really that too hard for you to make out considerations but of course it would really be that still depending on you.

The only important thing on here is that you do already know on what you are dealing with and do aware on the money that you are using or spending because if you do
dive in into this venture without having that kind of preparation then expect that loses would really be something that will really be more or keeps piling up which is unlike
into those people who had been that prepared.

Let me complete the sentence before trading Bitcoin you should start with the investment on bitcoin.
Firstly I would like to say that don't mixed that the investment with the trading because there is some difference by saying about trading is always means that starting the short term trading like buy and sell in the short period. And in case of investment in my opinion it is for the long term trading.
But it is true that before investing you have to have the basic knowledge about investment or trading and from the basic knowledge you will also find that they are will be always risk and a trader should always invest or can take the risk what he can afford. Like if you have don't much money for investment or trading then there is no need to investment at anywhere.

Trade only what you can afford to lose, and you will be in peace. Even if you consider yourself as a professional trader, risking everything you have will always be a mistake, otherwise, you will be homeless before you end up reaching your goal. And never trade to replace your job, that’s never a good mindset especially if you are only thinking to get rich quick. Keep your job, and have trading as your side hustle. That way, you will live a more peaceful and profitable life.

I don't see any reason why a trader would have to quit his job because he want to trade more.
Trading is not like that and it is important we have to understand the basic and how to make money in trading rather than trying to make quick profit without having a good skill. People are making oney and the same time there are people also losing money.
Trading is not for everybody especially people that cannot wait and learn about the market very well.

This suggestion is always applicable to any type of investing and risk taking.
You are right that those other markets that has risks too must also remember that they have to invest what they can afford to lose too.
Whichever market you are interested, you can set this reminder.

Yes, it’s certainly applicable to all investments as they all bring risks. But somehow, it’s a different thing when trading is mainly the concern. Anyone can trade but always know that it takes knowledge and experience, and well developed skills for you to be able to trade successfully. That’s why before you take risk in trading, make sure you are ready to lose at some point, and just expect profits later on the process. Trading can be highly profitable, as long as you know what to trade and when to trade, in short know what you are doing and be inclined to it.

Everybody should be aware of the risk as package of trading Bitcoin also with other crypto assets that we're going to own digitally. If you're a long term holder, only patience will be tested since you needed to be strong enough with your emotions.
For so many years of waiting, keeping your digital asset is really worth it when you survive that stage.
On my personal experiences, I wasn't able to cope up with that during the old days because many decisions failed due to unawareness of those risk behind.

It is true that Bitcoin is the most secure and trustable coin or a source for investing or trading. But every investment and trading always contains some risk and in case of Bitcoin it is also the same. Because it is highly volatile coin so there will be also high risk if you do trade on Bitcoin. You can face a large amount of loss if you don't know about how to trade so always gain knowledge about trading before investment and not cross your afford zone.

Well, in bitcoin there are many ways to work it, for traders that I call market speculators it is very different, they have to go with the trend, always looking to win, if bitcoin rises in price they must win with the rise. , if the price of bitcoin falls then they should profit from the fall, they should not get attached, they have to do it like this, there are also investors who are the ones who buy bitcoin and wait as long as necessary until they make profits, I personally do guys, I try to buy everything I need to have in hodl or investment mode and spend a little more to do some operations.

Actually, you can trade bitcoin even if you are not an employee. As long as you are capable or a strategic person, it is fine because we are the only ones who know our abilities, so we also know if we can make a way to have money.

As for me, when I started here, I didn't have a job, but I strategized sideline incomes that I could make money from, like selling products that I would just make a profit of but sell to my acquaintances online just like that. But if you can't be strategic, all I can say is that you don't belong here.

simply put, if they have skills in trading they can do it. If you don't have it, it's better not to trade with any assets.
because when you don't have the skills and understanding in trading. choosing any asset will only make trading like gambling. they buy carelessly and hope that luck will come and bring the asset value up.
I think more novice traders today are trapped in such situations.

I agree with this, because it means traders realize that the opportunity to make a profit is as big as the loss so that when they finally experience a loss they can accept it and can still continue trading because the loss they experience does not damage their finances.
Many traders are more calculating about the profit they will get so they dare to use large capital because they want big profits but it turns out their capital is an amount they cannot afford to lose.

Honestly, Bitcoin trading is highly risky, especially for beginners without a steady income. The best way is to invest what you can afford to lose or use demo trading to get used to the market. Also, quitting your job is not a good option even after consistent profits.
And you're right about the best way to approach it, which is rationally and not emotionally. But this should be done with proper knowledge and risk management, which are very important to avoid financial ruin.

yeah. people tends to make such big mistakes when it comes to crypto things like this especially trading. they think it depends on how they put money that is how they will get profit, though is something like that but don't rush and do so. because of the high risk that is attach to bitcoin trading, neither any other cryptocurrency trading. and this mostly happens to newbie trader that didn't wait and learn everything before they start their journey in trading. however, its good to learn first before earning.


you are mixing two things here; you are mentioning investment and also discussing trading. I hope you know that they are not the same thing? trading is something you can do now an earn your money with profit within some minutes or hours, while investment is something of a very long period of time. However, if trader is not emotionally okay you cannot trade, because greed will be pushing such trader to make wrong decisions, and that's why for someone to be a successful trader he or she have a lot to do.


And why will a trader even think of quitting job after making some profit from trading? don't forget that trading is very risk. so I will advise such trader should continue with he or her job even he is making significant of money from trading. making a lot of profit should not be a reason for him to quit job, relying on trading alone is too risk and biggest mistake a trader will do in his or her life.  

And it is much easier, safer and profitable to trade if we are only focusing on it. For a person who are strategic and capable, I'm sure that they can work under pressure and it's possible for them to do trading while having another job. Money is one of the most important things in this world.

It's not just we will think if we can make money or not but we must always try our best to make it because how can we feed our selves then or our family if we don't have it? As long as we are earning something, that can still be equivalent of having a job but I think many started here in crypto who doesn't have anything and I'm proud that many of them have now successfully achieved their dreams.

Most of the people now start trading business only hoping to make a lot of money in a short period of time, but those people lack much knowledge and experience. People who start trading in the market without experience are definitely more likely to lose money, although people can make some profit when trading in Bitcoin, but it is also risky. I think it's best to start trading when you can meet your needs and save money by having a good job. When you are motivated to trade, you must enter the market with the intention of losing the amount you started the trade with. We know that most of the time loss is more than profit in trading, but it is different in investment where long time waiting can be profitable, but training is likely to lose money.  So I think when you start trading, start trading with the amount of money you can afford to lose.

Things like this are crazy things beginners do when they start trading. When they start trading, they might be making money, sometimes what they will be making from trading might be more than what they are being paid for the work they are doing, so they will decide to quit their job just because what they are earning from trading is far more than what they are being paid for the job they are doing.

But most of them don’t know that time might come when you won’t be making much money from trading, most especially during the bear market. Only professional traders are always making money during that time, and if you are not a professional yet, then you might lose all what you are trading with, and you will have to go back and be searching for a job.

This will be a different story if your profession as a day trader who already has good trading skills and your trading win rate is above 70%, you may be able to leave your old job before becoming someone who is good at trading.

Where you can make more money from trading than working, but the wrong thing is also a trader who has reached this level, they tend to use the income from their trading results to put it all in the world of trading or crypto investment, even though what they should do is use some of their money to build their assets in the real world, such as property, gold and others as this diversification aims to keep that unlucky moment is not scheduled in any calendar, so we need to diversify the money we make to build other assets as well as economic fundamentals.

But if you are a beginner in the world of traders, it is very mandatory not to leave the job you already have.

I think starting trading with the intention of making a lot of money is like a motivation for me, hence you make sure that you know the basics first and has gained required knowledge and experience even with demo trading account first. Also, learning from the experiences of early traders can create an advantage, most especially if you know you still lack those trading experiences that will help you succeed in trading.

Furthermore, once you decide to trade, never see it as your major source of income because that would be hardly possible for beginner traders, instead keep earning from your main job and just consider trading as your side job, I guess that way the pressure to gain profits in trading would not be too high.

You can't engage in trading and still say that you will not be emotionally and mentally stressed. Even if you have various sources of income, losing your money is not an easy task for me. I think the best way is to possess the ability to accept everything that comes when trading, whether you lose or gain. In that way, the emotional and mental stress might reduce, but if not, it will be very critical, and mind you, emotional and mental stress can lead to a severe health issue, so it needs to be managed.


Did you think that even if you are very profitable in trading, it would be good for you to quit your job? Trading is viewed as gambling in other ways because it is sometimes addictive, so it will not be a good option to quit your job. For trading, because all you think you have already saved, you will still bring it out to trade if you have no other money to trade with. So no matter the rate of payment of your job, it is still important because, when you are a trader, you will still have time to do other things, especially if your job does not require more manpower, but a sincere and diverse source of income is the best in any circumstance.

I believe that always those who don't have good knowledge about trading or are trying to trade for the very first time for the very first time will think of quitting their job and focus on only trading. trading is not a reliable source of income, it is not always that you will be making profits, there are some days that you hard that you will not make profit but lose.and in fact, trading is really difficult. There are many people complaining they are losing a lot in trading. 
 
In short, having more than one source of income is the best,so if anything happens to one source, you will have alternative sources left. I know that trading needs time, but that doesn't mean someone should quit the job that they have been doing, whose sources of income are reliable for trading, whose income is not reliable at all.

Hmm, I was watching an influencer podcast and it made me really think that the point he's talking about is exactly getting fit in, because most people make mistakes due to that ignorance, and it was about why? why do you want to trade, just for fun, to make easy money?, to really establish it as full-time, is it part-time? there should be clarity first, the trading decision should need to be based on a strong why.

So find your Why first everything is a matter of time you don't know how to trade not a big deal you'll learn but if you don't have a strong emotion behind your decision who do you are gonna proceed from where you are going to get energy to establish your goals.

You're right - so it's no wonder why we are getting more and more novice traders who are more likely to choose futures trading over spot trading or long term investments. The desire to make quick profits is a motivation for most new traders - but as long as they can take responsibility for their trading decisions, then I don't think their choices are wrong.

Trading and investment advice are essentially the same - the most important thing is to understand the risks and potential gains and losses. The average trader knows that trading is a risky activity so as long as they can understand and master a good trading strategy, they will most likely be successful in minimizing the risk of loss.

It's just that – it's impossible to get consistent profits every day. If any trader is really interested in getting it - then I think the reality is they will fail even with a small budget.

The simple fact is that they don't have much more skill or experience. While Trading is one of the toughest fields in cryopto industry because it requires a lot of skills, like market sentiment, dynamic, Technical Analysis+Fundamental Analysis ect. Besides you need a strong sense of experience...
 

If you say here that you can invest as much as you can afford, then I think it will not be bad. Because as you explained that you should have more than one source of income and you should not depend on one pay. So in the same way, if you are dependent on one way of earning, then if you lose it, it can put your life at risk. 
 
So it means that you are absolutely right that if a person leaves his job because of trading, he should know that crypto can give you a 50/50 ratio of profit and loss and if in trading If the skill is not pro, in my opinion, there is no hope that he will not lose. He will definitely do it due to a lack of ignorance and it is not a requirement of wisdom to quit the job.

I think it's right and we can control trade when we have free time after work in the real world we have completed. Trading only requires concentration in running and if someone is unable to make time management it will be far more difficult to do both at the same time. At present we can control trade only holding a smartphone because the availability of tools that have been so sophisticated and make us much easier.

Regarding the time as you mentioned and that is entirely how we make management because someone who is unable to divide time will be much more difficult. This is not only talking about trade even to carry out other activities we need time to concentrate and from there we learn to do many things at the same time.

I think it is impossible to gain profits from trading quickly of course it requires a long process to be able to understand well about trading in order to gain profits from trading without good experience and knowledge of course it is impossible to gain profits from trading.
Indeed, it would be better when trading, we already have funds that can meet the needs we need and when they enter the market, of course we have to do in-depth research so as not to make the wrong decision from the trades we make, but if we make an investment, of course we have to can be patient for a long period of time to be able to gain profits.

That’s for those beginner traders who jump into trading without trying to research first and learn from those early traders experiences. Because if they do, they will surely hesitate to quit from their job and focus more on trading, knowing that trading may not be profitable at times. But instead, they will explore trading and create good experiences so they can make it as their side job, not in exchange for their stable job. That should be the mindset most especially for those who are still starting to learn the trading process.

This warning continues to be reminded, but there are still many people who don't care about it. In fact, someone can trade even when they don't have a permanent job, or a steady salary. However, the money they use must be money that is truly devoted to trial and error, so that when the money is lost, it does not affect their life.
In addition, many people are willing to take the risk of quitting their jobs even when they have just made a profit from trading. Remember that profits from trading do not come continuously. When you want to take a risk, you should think about the income or earnings you can get from trading, so that when something bad happens, you still have an alternative way to make money.

In a nutshell, I don't think this is possible in any meaningful way. Trading on short time frames requires a very high level of concentration and the ability to react quickly if the trade moves in the wrong direction or if you want to take profits quickly. Especially on very short time frames (1m, 5m), seconds often make the difference between profit and loss.

As I said, this is of course completely different on long time frames such as days or weeks, where you can usually react very slowly and plan your trades a long time in advance.

Dont make it as your last resort because we know that dealing up with an unpredictable space or simply volatile doesnt really give out that kind of assurance that you would really be able to handle it well
on which on the time that you would be making yourself that confident then this is where mistakes will surely happen or simply you would really be making yourself getting disappointed in the end of the line on which we know that there's no way that someone could be able to have that kind of fixed income or sureness that they could make money within this market.On the time that you had quit up your job but you arent that something that could be able to sustain on making money via trading then you had just basically fucked up yourself because we do know that there's no way that you would be able to sustain yourself and since we do need money
on day to day living then you would be able to realize on the wrong decision that you had made up.  :'(

This is obviously something that will take a bit of time, not going to be all that easy but at the end of the day if we can achieve it somehow then we can do it. This means that if we can make it work one way or another, then we are going to be fine about it as well.

This shouldn't really be a big deal, we could make it work somehow, but that doesn't mean that everyone will. That type of short term trading (usually called intraday trading) would take so much and would not be easy, so it is going to take some time for people to adjust to it. Specially if they come from the long term method ways they are not going to be able to do anything major, it is quite obvious that we are going to end up with a better result if we keep trying.

Invest or put up on the amount on which you can really afford to lose and never ever make yourself that be making delusional about being that a successful trader since this kind of career or journey isnt something that someone could really be able to have a good grasps of it on a short time period. Dont invest or put up with those money which are intended for other important means because that would really be bringing out that devastation or really that putting you up on such problem on the time that you do end up on losing those amount just because of wrong trades. So it would be better that you should really be that tending to make out those kind of risks approach so that you wont really be ending up on having that huge expectation on things.

People would really be just that basically be trying out to make those kind of risks management on the time that they do suffer something bad but eventually you could really be able to avoid it out
if you are really that just sensible on the actions that you are taking.

When you become profitable at trading, don’t be so blinded by the money that you’ll end up leaving your job. As long as the job doesn’t hinder your trading capabilities, you can still be doing them hand in hand. Before you became profitable at trading, you were using the money from your job to fund your account, that means you had time to go to work and still trade. So I don’t think leaving your work will be the best thing to do after making a lot of money in trading. I still feel in some circumstances, you could consider leaving the job but must not be at the expense of you getting wrecked back from trading.

There are many things that must be learned before trading on Bitcoin and other altcoins, there are so many risks that crypto traders can spend a lot of money when losses occur. Yes, it is absolutely true what you are talking about here, it is better to keep working on keeping your money well before starting to trade on Bitcoin. Sometimes people have a lot of knowledge and have seen the experience of their friends trading and the only obstacle for them is initial capital, so it's better to think more carefully before investing in Bitcoin or the crypto market.

Do crypto as your sideline and not as a fulltime if you don't have a full commitment, we know there's a lot of job right there offering crypto or the web3 itself but again if you are just on this and just inspired with the other people who enjoy in learn and earning here its a different story if you have a stable job, at least get a lot of source of income the market is volatile so you don't possible this day you earned a lot but after the top you will lose most of your money. Always make a backup don't settle with just one job, its hard to find a job now and at least cater your needs. Invest your extras and don't make an all-in in crypto.

Having steady income isn't a part of the requirements of trading. Even if we have no steady income, we are possible to trade. However, it is not a wise decision to spend money in trading when we have no enough money for basic necessities. In my humble opinion, spending money on trading and investment should be done after we fulfill the allocation for basic necessities and saving.

I think it is no problem to use saving for trading funds. But it shouldn't be for newbies, it is only for experienced traders. Only do it when you know well how to trade effectively. However, if it is not really needed, just use safe money.

It is true, emotion will ruin our focus in trading. It will be too risky if we can't control emotion in trading.

Why we must quite our jobs in real life?
We shouldn't rely on trading for our income. We still need a job in real life for regular income. I think most people trade for side income only, they must have jobs for their main income.

I feel like doing something just because you saw others did it is the biggest problem that we have in the crypto world, a lot of people think that they will be able to make money just because others made money the same way, and we all know that it is not the case, and we should be careful about it and not take any big risks. This is of course not that simple, and could be an issue, but that is just the exact thing that we need.

Obviously we are not going to have any issues if we are careful, trading COULD make you money but you need to learn how to do that yourself before you end up with a mistake. If you keep making a mistake over and over again, then you are not learning from it, and that's the biggest problem.

Preparing yourself in terms of knowledge is of course very important before deciding to start trading because without knowledge it will of course be very difficult for us to get good results from the trading we do, everyone has of course failed from the trading they do, but if they can correct the mistakes they make, of course they will be able to get good results from the trading they will do and for those who don't have initial capital to be able to trade, of course they have to prepare capital first so they can use it for trading and I don't think there's anything wrong with that. start with a small amount of capital so that we can anticipate possible losses that we will experience.

Everyone who wants to trade must have trading skills. With trading skills, they will be able to trade well and can experience losses. Many people start trading without any trading skills and follow what others suggest.

That won't work because they will have difficulty selecting the coins. Even though they get trading signals from a group, that doesn't guarantee they can make a profit. If they want to learn about trading analysis, they can gain profits.

If beginners are still learning to trade, they don't need to use big money immediately. This is to avoid the risk of loss in trading. They can make a profit if they are used to it and can analyze trading well.

Investing in the wrong place will destroy you be it Bitcoin or any other place of trading. But in the case of bitcoin investment you must acquire enough knowledge about the bitcoin market. If you do not have enough knowledge about the bitcoin market then you cannot invest well. When it comes to Bitcoin investment you need to have a long term plan. If you can invest by checking the market with a long plan then surely you can get success in this investment because many people's fortunes have changed through Bitcoin. When it comes to Bitcoin investment, many times we are in a hurry, if we invest patiently without haste, we hope to get the proper return on investment. Sometimes many big investors lose patience, so patience is very important. Patience should not be lost. If you invest for long term with patience, you will definitely get proper success in that investment.

there is something different about what OP meant and what you said. you can read the OP related to Bitcoin trading and you are more focused on Bitcoin investment.
what you said is not wrong, but it may not fit the context intended by the OP.

This mistake usually occurs when a beginner finally wants to start trading out of interest in the achievements of friends or other people they see. Because you feel you have savings, you can use the money to start trading. Most beginners can't separate savings from money that won't be used for anything. So those who want to learn trading may have to study financial management first.

I have read about people who invested their life savings into trading or crypto. Dont know how far these type of threads are true, but assuming they are, it is something I would never suggest anyone to.

Any investment is a risk-filled venture. There must be a good distribution of the risk, high risk assets in low number, low risk assets in high number to keep the total risk at a manageable level. Putting your life savings in one asset means putting a high risk asset in large number which is equivalent to suicide.

Another one is that job quitting to trade bitcoin, again a foolish thing to do because your job is a somewhat stable source of income. But trading is never so.
I think this type of narratives are more commonly done by people who are promoting exchanges and just want their cut as a referrer.

Well, if you do not risk much, you can't gain much, that's the rule of investment and whether we like it or not, we will always be seeing some aggressive investors and conservative ones, which will always be balancing the investment atmosphere. But you do not need to have a steady income before investing in Bitcoin, only for trading, you are right, but let's be clear. For investment, since you can buy low and hold it, you are good to go even as Bitcoin is easy to predict.

But one must apply wisdom to it as well even if the person is gainfully employed. Such may be wasteful in this regard just because he has money to invest in Bitcoin. Cautious planning is strongly advised here.

This is a good point, and the reason why the popular saying "Invest only the money you can afford to lose." This will ease the emotion and also allow the trader to focus, and be responsible aside from trading as planned.

Trading is very difficult and only few individuals can earn through trading and those successful traders are true traders because they use their own strategies, knowledge and experience while all others are copying others and work according to the signals which does not prove to be money making always.

You will not be able to become a successful trader in a day because for trading you have to first gain knowledge, make experience and then utilize that experience to make a good conclusion. During the time of getting experience you can use a small amount but if you use a huge amount from the start then you will have no left amount to take the benefit from your experience in trading.

Many of us are interested in trading in the market but we start trading without knowing the market well. After practicing trading for a few days we started real trading. I think the market is very easy and you can make a lot of profit in a short time so I start trading without knowing it well. This perception is the biggest reason for future loss to be a good trader you must acquire good knowledge on trading. The more time you spend in the market the better your trades will be.

They can gain trading skills if they are willing to learn about trading first. They will have a better chance of making money from trading because they can find the right coins. The more they learn about trading, the more it will help them in trading.

To be a successful trader, you must have knowledge, analytical skills, etc. Everything cannot be obtained in a short time but must go through a process. However, many people are unable to go through the process.

Everyone can become a successful trader, but it depends on how hard they work to get there. Only people who are willing to learn more about trading can become successful traders. There is still much more they have to learn in trading.

To trade on Bitcoin, one does not need a stable income, as they can trade Bitcoin using money they have set aside previously - but having a stable income is much better. They can learn first how to trade Bitcoin and various tips so that they don't lose all their money on it. And then, once they understand how to trade Bitcoin properly, they can immediately jump in and trade using the knowledge they have. All of this can be done while working, because there are also many Bitcoin traders who trade but still have a permanent job, so it depends on how traders can manage their time properly and know which time is the most appropriate to trade. They don't need to quit their jobs just to become a trader, because it is quite risky, but if they understand the risks and have made consistent profits from it, they can resign from their jobs.

That is right, if you are not ready then you are going to end up losing since you have no idea what you are doing. A person who invests and doesn't know what they are investing into has absolutely no way of realizing what mistakes they are making, it is clear that we are not going to understand our own moves and if we do not understand our own moves then how can we avoid making a loss?

It would be a lot better if we study first, and that way we would make some money because we would know all about how to make some money. I get that it is not that crazy to think about it, but it wouldn't be end of the world neither, we would be able to make some good amount of profit one way or another. We just need to put up the work first.

Quitting a job for Bitcoin trading isn't a right choice any trader should think of.Bitcoin trading is risky,the chance of losing is more than that of winning.Experienced traders might not tell your their losses not to scare you from trading but never quit a befitting job for trading.A trader can trade during his leisure period it doesn't necessarily mean that the person should quit a job for trading.

To succeed in BTC trading, you need to achieve the knowledge of BTC before going into BTC trading and it will make you to understand so many things that will lead you to opportunity to ear from your Trading.

When you have the knowledge, I don't think you will miss any bear season because that is the best season to buy BTC without the fear of loss in the future, and it will help you to improve when bull run occur in the market.

Patience must be carry along in your hodling, because that is what will help you to succeed in the future but if you fail to apply patience in your hodling, you will miss it when bear run take a long years in the market.

Exactly, unless the person is so expert in trading, then going full-time and leaving the stable or corporate job is possible, but if a trader decides to quit his job just because he wants to start doing trading without having long experience, then that's a shitty move, because who will want to quit their job just to risk it in trading? trading is very risky itself, so you will quit your job. Then that's like suicidal. Even me, who has a lot of years of experience in trading, am still not confident enough to go full time in trading, but I also don't want to because of the mental and emotional effects of trading. That's why I only treat bitcoin as a side hustle while still having my stable job and also other things that I do to earn money. In short,  learn to multitask. If you can have your stable job while at the same time side hustle, then that's good.

Well said.  Trading isn't what anyone will quit there Job for, profitability overtime must be attained in Trading of which is not bed of roses but many are too quick not to understand this, thus making silly decisions and mistake with poor ending.
Most profitable traders we see today had jobs at the start to keep them mentally balance and also aid in funding of account, this reduces pressure on the trader as he woild always have something to fall back on, the earlier some persons understand that Trading is not a Sprint but Marathon the better.

Building the skill set is the most important factor when it comes to Trading, but many try to skip this sorting out easy path, this cannot be overstressed as many are gonna learn the hard way.

Trading is a good way to earn but it is not always earning there are also times that we will lose in trading,that is why expert always says that use only an amount that you can afford to lose it is because even expert lose in trading sometimes because market is high on volatility and it is unpredictable,the next thing is your job i think quiting you're regular job is not necessary when you can do trading in your free time,theres no need to quit your job at all,stable income can help you a lot,the strategy is to do trading but not quiting your job.

I remember before I read an article way back in 2017, and I can't even remember what article it was where there was a Bitcoin fanatic who sold all his property, from his house and land to his car and other things, using it in exchange for investing in Bitcoin.

He even got to the point where he sold the last pair of socks that he didn't use much anymore; he was so dedicated to Bitcoin, he just didn't talk about it. Now, here's what you're saying: this Bitcoin can really be a source of income as long as you have full knowledge about it and you know yourself that you can make a profit here in trading, but if you don't have a deep and wide knowledge of trading, don't pursue it, of course, because for sure the time and effort you will put into it will be wasted.

Quitting or resigning with your day job just because you have intended to make that full time with gambling? This is something would be considered suicide. Why? There's no assurance that you would really be able to make profits with trading on which dealing up with speculative market is something that would really be that so damn hard or something that would really be that so unpredictable. You cant really be sure whether you would really be that profitable on everyday. What if you do have a family to raise? How you would really be doing it? If you do find yourself having that full time trading job you are into?.
This is why you should really be that considerate on the current condition that you are in and wont really be making outright decisions which arent that sensible on doing so.

On the moment that you would be considering on quitting or making trading to be full time is on the moment or situation that you do find yourself that sustainable because if you do find yourself that profitable
despite of the market randomness or being that unpredictable but still you could be able to handle yourself well and still profitable then this is the moment or right time that you do need to have
that full time but of course it would really be just that depending on you.

Trading ought to be a passive activity which supports your main job. Trading without another source of income will put pressure on the trader to make wrong decisions.

I have seen people put their live savings into bitcoin, but not as traders but as long term investors.

Think of how to handle 2 or more jobs to match the present economic situation instead thinking of how to quit.

Always true for altcoins but not always true for bitcoin.

If you're already having huge capital for investment, maybe you can have that mindset losing what you can afford. Same with the friend of mine who quit his job, unfortunately the money he saved didn't prosper and eventually got burned in trading. Without proper knowledge on cryptocurrency trading, everything turned down and got vanished when trading without any concrete foundation of skills.

If your friend decides to quit his job and trade, of course this is not the right choice and don't follow in your friend's footsteps, of course this will cause you financial problems and your friend will make a big mistake because he decided to starting trading without understanding it well, so we can use this as a lesson for all of us that preparing yourself before deciding to trade is of course very important, because everyone who trades is of course looking for profit but of course has a good understanding of trading. This is very important so that we can make a profit on the trades we make.

True and this is very reasonable if we want to understand correctly what exactly is the main purpose of our trading compared to the main job, of course we need additional funds from the results of our main work if at any time needed, because it is not impossible that we sometimes forget to set SL and the price of the coin we trade continues to degrade. This condition comes if we are excited about trading in the coin, especially when we see the opportunity for the lowest price to automatically use the fresh funds.

If we don't have another source of income to supplement our trading, I don't believe anyone will succeed because you will undoubtedly lose money, and if you don't have anything else to do when you lose, you won't be able to find another way to get money to try again to see if you will be profitable or not. Anything you do, if you don't have another way to contribute to your trade or investment, he will not go uncomplicated. Once you have the funds and a source of income to support your trading, you must focus on it and understand the market thoroughly in order to succeed.If we don't have any additional sources of income to add for your trading or investment he won't go straightforward. After you get a capital and get source of income to support your trading then you focus on it and understand the market very well to succeed on it.


You are correct, because have noticed someone who has just started trading because he recently received some funds and decided to run trading to double his money, and he gradually began staking lesser prices and occasionally losing and winning. And he started staking high because his money was dwindling and he didn't have any source of income to support him, so he started staking higher, thinking he would be profitable with a large profit, and that is all about him, he didn't get any income and lost all of his capital and everything he had for the time being. That is why source of income is necessary to assist you out when you are in need, but when you don't have anything, It is better to stay than to arrive and regret it. Even if someone wants to take a chance, I recommend that he invest in bitcoin because it is the only coin that will reduce your risk without losing too much money and will almost certainly be lucrative. It is better to stay than to arrive and regret it. Even if someone wants to take a chance, I recommend that he invest in bitcoin because it is the only coin that will reduce your risk without losing too much money and will almost certainly be lucrative.

Apart from having to have a mindset that can be lost, basic knowledge that can guide us not to experience loss is a much more important thing to have. Because trading in the crypto market is indeed a little different from trading in the traditional market, the level of knowledge must be much greater for those in the crypto market in order to be better prepared to face market conditions and not easily experience losses. And your friend who has experienced a bad condition like that should not give up because he can still try again at another time to get back what he has lost in the past.

The crypto market moves very fast so we must always be able to adapt to any situation and the most important thing is the knowledge to trade and continue to learn at the same time.
Regarding failure in trading, it is quite normal, everyone has probably experienced it, but the most important thing is how we can learn from what happened and turn things around.
I totally agree that there should be no giving up for those who have lost in trading, they should keep learning and try again.

Literally fast, I mean their adoption and new innovations being introduced in the space. If you are not new here, don't worry because it's going to be easy for you to adapt to the new changes. Not all in cryptos are forced to trade but it was still a must to know at least the basics of it like buy low and sell high because it will be needed in most of the things that you will venture here. Agree on what you said about failures, except only when you say ' no giving up ' because what if we still can't learn no matter how much we try? We can only do more harm on our selves than good, if these continues. Maybe something else is for us and not trading?

That is how unfortunate it is that most of us invest and trade Bitcoin without knowing what is all about. Many people underestimate the market and sell their valuable assets and some properties for this sake but they lose in the end. This adds pressure on ourselves and this kind of investment approach is our practice, there is no way we can reach our goal and make progress but a losing investment.

That is why it is encouraged to seriously take this option and never take it easy as it is difficult in reality.

It is not a good idea to leave your job for trading because trading cannot give you money always but it can make you distress so I will suggest that you don't leave your job for trading and if you have saved the amount but have no knowledge then saving that amount for something more time is better than losing it in trading due to lack of knowledge.

Most of the people are so greedy that they don't investigate trading but want to get the sudden profit so they lose a huge amount of money in a day because they don't follow the rules and have no command of their decisions so at the end they are just empty handed.

Never quit or give up on alternative sources of income, try to manage them along with the BTC trading. Because anything can happen in BTC, it can make you lose all if you are into future or margin trading but if you are in spot and trading wisely you can make some decent money but in order to make decent money in BTC via spot requires more funds and if you lack them you will definitely going to do future or margin but that's highly risky for a newbie even for an expert because both lose money in this market.

The advise of not investing your life savings into BTC trading is good but I would like to add that you must not do BTC trading but you must do BTC holding with your life savings. As your life savings are for either retirement or for some emergency funds. Most people keep emergency and savings funds aside I prefer them aside. Keeping your savings in the form of BTC is a better way to make money on it without the APY or other bad stuff. My savings are in BTC and I am making more than 2x on them right now.

In general, don't put all your money into trading nor make it a full-time job because whether we like it or not, this won't give us assurance unless we are too skilled with this.

We can never make a mistake with this because there is no turning back. It is suggested to start from the minimum amount required as it is best to familiarize the market first and how trading works. Trading is not a wrong choice but disastrous when you are not fully prepared.

A lot of advice on how to start trading but there is one thing I would say --invest time in learning first before anything.

All traders will fail when they start trading because trading on live market is not the same thing as trading with demo accounts that many traders use when practicing how to trade and think because they have become good at demo trading that they will make good trade when they start trading on live market but you can lose money quickly than you make profits with love account therefore before trading Bitcoin you need to know that making profits is not alwa easy but if you stay focused you can make profits when you know how to interpret how the market is heading. Trading needs you to be quick to take actions and not waiting for a long time or you will miss entering the market at the appropriate time or exiting the market before it starts dumping and you get dumped on.

The striking difference is indeed at the psychological level. Demo trading and live trading are clearly different, those who are good at demo trading may not necessarily be good at live trading. Therefore, it is better to learn live trading, even with a small amount of capital, at least it can train us mentally to face reality, so that later it will develop by itself along with the experience we gain.

Everyone tries to change the financial situation but an investor should be careful when investing especially in highly volatile currencies like Bitcoin. There are many people who don't have money to invest but they try to invest money in bitcoins for managing their life or for any other purpose which is completely a wrong decision. If someone makes such an investment, he has a high chance of losing. However, when it comes to investing, many people invest emotionally which should be avoided.

Bitcoin is an excellent investment platform where many dream before investing. Some invest money they cannot afford to lose. In their case, the investment will increase the loss rather than gain. Along with any action it is better to invest according to the affordability. But investing in Bitcoin must be done with a long-term plan.

BTC trading is not type of trading you can invest all you have and make it at the moment, which you don't need to have such plan in your trading because it will not make the journey smooth for you.

The price use to take a long time before it will pump up in the market sometimes, and it will be good for you to have other sources of income that will make you to sustain yourself during the bear run and it will increase your profits when the price hit higher.
One of the advise which is very important to BTC traders to have in their mind before going into trading, they should never quit their job for BTC trading because it will not take anything from them when they are still doing the trading and still working, it will help them to be saving some money that will make them to have money to buy BTC when the price is dumping.

Trading can be very risky if we are not ready to follow the right process so we can make.momwy from it.
There are so many people that has been making loses in trading due to their misunderstanding about the concepts of trading they have not learnt. There are traders that are making consistent money from their trades and we don't have to copy them and trade because we feel like we want to be having that kind go results. It is good we keep looking for ways on how to grow faster and get the skill than trying to jump some steps to get to the top.

People do often trade for quick profits purposes, they become more greedy on money than they should be more concern first with acquiring knowledge and skills development. That’s why a lot of beginner traders end up losing because they lack the focus and concentration to study trading but jump quickly into trading even if they’re not mentally and emotionally ready enough. When they realized that all they got are just losses and few gains, that’s when they realized to start learning the basics so they can at least improve their trading performance.

It's very sad what happened to your friend. In fact, there are many people out there who experience something like your friend. They initially had large funds for trading, and coincidentally because of the right moment they managed to make a profit from trading, so they decided to quit their jobs. However, after a few months, they experienced a loss that made them run out of money, in the end they regretted their decision. It is very important to know that trading is something that has high risks, it doesn't matter if you have a lot of money or a little, without having good basic knowledge about trading, you can lose everything. Moreover, if you leave your job, the problem will get bigger and make you even more stressed.

So, be wise if you start diving into the world of trading, understand how it works, control your emotions and stick to your work. Because trading does not always produce profits, there are times when we have to hold assets. However, if we still have a job, we can still meet our needs without having to sell cheap assets.

Copying successful traders is a good way to make profits when trading but do not just copy them without learning how they are doing what they do. Copy them in a way you will be the one to analyze the market because this will help you to know how to read the charts of the market. If you only copy and paste, you will make money but not gain knowledge, traders that are being consistent in gains are those that really know what they are doing because we have alot of traders that do not know how to trade but are doing it because they know it can make you profit. Alot of traders depend on trading group for them to give them signals then they will use the signal to make profits but they can not give  out signal to use on their own. Trading can make you alot of money but you do have to know how to manage the money to become more successful.

What you are saying is true; that's why many people make the mistake of thinking that way. Some people think they already know about futures, but suddenly, when they come to the actual market, the wind suddenly changes... That's why many people are also suddenly corrected in their funds.

So you must know and have knowledge of trading, and not just know something, but have a deep and broad understanding of trading, so that the funds that we will invest in the futures trading of Bitcoin that we will do will not be wasted.

The thing about trading is that it's not restricted  the type of trading of being behind a screen most of the time and analysing some charts which requires the skill and strategy to be profitable.
Fortunately for us we have other trading types which are less risky like p2p trading which requires dedication and time to be profitable...so I don't believe in this notion of trading can wreck you if you choose what works best for you.



Emotions will always be there regardless of source of income, the best approach to managing emotions is to trade with a strategy plus apply proper risk management so that you know that your trade failed for not following your rules or news happened.

But have you ever copied trading and been able to make money doing it ? Because as far as I know a lot of people have tried this but no one has ever made a profit by copying successful traders. I don't know what causes copiers to lose while traders still make profits . But I also think there will never be an easy way to make money just by copying other people's signals. So, I would not consider this a good way nor advise anyone to follow this method to make profits.

Instead of wasting time looking for traders to copy, why don't we do it all ourselves? And if we feel it's too difficult for us, let's find other ways to make money instead of stubbornly pursuing things that aren't right for us . Again, I have never believed that it is possible to make easy money just by copying other people's trades.

However it was a tough decision for me, because in fact however and whatever type of investment including bitcoin it is always an activity that has risks, I understand that trading or investing can generate profits but however something that involves money will certainly always have a negative side which is the risk of losing money when someone experiences a loss. This means that investing is not always about profit opportunities but also the possibility of losses will always be a part due to fluctuations caused by market mechanisms.

So in my opinion quitting the main job and making investments as a place to meet the needs of life as a whole is a pretty careless decision, it's the same as leaving something certain for something that is still gray, I'm not saying that investing doesn't provide benefits but what is certain is that we must understand that it is nothing more than an “opportunity” meaning that it does not always guarantee that you will always be able to make a profit in every session you do. So it is better to consider carefully before you make a decision to prevent significant regret.

If someone has very large capital, of course he knows the impact of the investment itself, where he will choose, of course he will choose the long term rather than the short term. Of course he already understands the risks he is taking and can take responsibility himself. It's a shame that your friend actually quit his job. This job can indeed make quite a lot of money if we have the ability to predict or analyze it. However, it takes time or quite a long process to achieve all of that, we cannot or just in an instant or overnight we can achieve all of that.

I think most of the wealthy people have huge sums of money are more interested in trading instead of investment and those who have a limited amount of money are interested in investment as they think that if they keep their money in beneficial assets then after some years they will be able to make their economy better.

Those who leave their job for investment or trading are the foolish person and they will realise about their mistakes if they continuously lose money through trading and will then be feeling sorrow to leave their job.

Not all of them are like that, mate, because there are also rich people who invest and trade at the same time, even though the investment they make is for the long term and the trading they do is for the short term. I also don't blame you for what you said because there are people like that in this world, but this doesn't happen to everyone so we shouldn't judge everyone equally. Because people who don't have a lot of money also dare to trade as long as they have the knowledge and mental strength to do it.

Don't immediately call other people stupid because they left their jobs, maybe they themselves think it's time to stop being slaves to other people with a small salary so that those who make such decisions are also based on more mature considerations. Even though they will also understand that in terms of trading they will not always be profitable, but as long as they have the courage and mental strength to continue doing this, I think they will also get profits that can even cover the losses they have experienced before.

Trading should only serve as a side hustle, not actually as a major source of income. That’s why quitting your main job and replace with trading, that will be a very risky move since not all traders end up making passive income. Trading is a great and quicker way to find profits, but it’s a way also to lose your funds at an instant. So if you can’t balance both your main job and your side job, it’s better to leave your side job if you aren’t capable also in making even small but consistent profits.

Setting stop loss is crucial when trading, that’s an effective way so we can manage our losses or prevent ourselves from losing a lot. There’s no reason we should forget about it, regardless if you are a beginner in trading.

Understanding it first before starting to invest or trade is of course very important so that they can make the right decisions and can gain profits from what they do and if they force themselves to do something they don't understand well, of course they will lose money. which they use for trading or investing.

If someone chooses to quit their job to invest or trade, of course this will be very risky for them if they experience failure in what they are doing, so it would be better for us to understand this first before deciding to quit our job and choose to be more focused. in investing or trading so that when investing and trading you can get profitable results and I agree with you, the process of being able to make a profit from investing and also trading certainly requires a process so that we can do it well and can make a profit.

It is not recommended to trade with excessive emotions because it will affect our performance in trading.
Using all your savings for trading is a bad choice and should not be done because savings have another portion to meet living needs.
Trading can be done responsibly by using a smaller budget to start with.

The decision chosen must be based on the right thinking and leaving work to trade in crypto will be very dangerous when we do not have good budget resources.
Improve your trading skills and do it responsibly so that when you decide to stop working you have the right knowledge for trading.
Life will be much more problematic when we are unable to earn money stably and we will be faced with the problem of fulfilling life with our family.

It it always important to know the following before venturing into trading,or having any thought about trading.
1-It is always important to know that trading is a very risky thing,but that doesn't mean you should shy away from it.
2- it is always important to research more about the project you wish to invest in, especially when you have zero knowledge about it.
3-It is always important to have a specific strategy that works for you,or you visit people who have experience in the field to learn more strategies that can help you get a better results.
4-It is always important to start with a little amount of money,so that if you lose,it won't be heartbreaking for you.

I think having a steady source of income is definitely great, especially if you're investing, so I won't rebuke that, but the thing is, I think the more appropriate thing that people should always take into consideration when investing in crypto, or bitcoin for that matter, is making sure that you are not investing money beyond your means. I've seen friends of mine literally have no other way of getting money but from allowances, still able to  invest and grow their profits all because they employ risk management and are more than happy to consistently put a stake at bitcoin and crypto. In my opinion that's really all the things that you need if you want to succeed in here, cause steady income's great and all but just having that alone without proper mindset and discipline's not gonna bring you profits.

I know quite a number of traders who are into full time trading and still get paid from carrying out trading tutorials for newbies and mentees under their care. They have realised earlier that they cannot be waiting for trading profits first before they sort out some personal bills, hence the need to still earn from what they have passion for. I don't know if there are actually successful traders who rely on earnings from trading, if there are, then they should let us know how they do it because no trader that has no stable source of Income will be able to have a proper mindset towards his trades or investment. The  urge to tamper with his investment money will be high and fighting that urge will be pointless.

Without strong determination, in-depth knowledge and good emotional control, it will be difficult for a trader to make a profit from his trading activities. I'm not a professional trader, but the losses I receive every time I trade are quite small because I always sell when the asset I'm trading goes up 10% or 15% (usually altcoins), when it goes up more than that then I'll buy bitcoin. for my long term investment. Nowadays we have to be able to group the assets we want to manage and always prepare assets for long-term investment (not just for trading) and For those who are not yet ready to do trading, don't try to leave your job now.

It's true, while we are learning to trade, our main job is the current job, even if you have big profits and feel that it is easy for you to trade, still use trading as additional income, remembering that we will of course also experience difficult times in trading, and whether we be ready for all of that, especially if we are still beginners in doing it, of course this can damage our psychological stability. Moreover, with various trading methods, it can be done by placing pending orders and targets

Trading crypto has always a risk and even if we are expert in trading there are still time that we will lose because of some reasons, it is because it is normal to human that even if there are earnings they still want more or big that is why they end up losing they feel that the earning or profit is still not enough they wait for big profit that sadly didn't come until all funds are lost including the capital, that is why in trading or investing we need to set a limit for us to earn and control the greed.

Even though they have good skills and experience in trading, they will certainly make mistakes when trading which makes them lose in trading and indeed this is very normal either because of their greed or because of their mistakes in analyzing the market which results in losses in the trading they do, so it would be better, even though they already have a lot of experience or skills in trading, it would be better if they could still update their knowledge about trading so that they can still trade and make a profit, setting limits is easy to do, but if they don't carry out well the target will be of course they still fail and we must continue to practice all of this so that we can get results according to the targets we have set.

Simply put, anyone who already has a job that can provide a stable income in their life should not leave that job when they can trade using any method at this time. Because of this stable income, everyone can develop other jobs with various models, including trying trading after studying it for some time so that they can have the courage to continue trying with just the capital they have or with the capital obtained through a stable income. That is why existing income from any main job should not be thrown away because everyone can set aside some of it for trading capital.

It is not surprising that someone quits his job and goes into business. Many people who are working professionals know that if we continue to work all our lives, we will not be able to make a good future for ourselves and we will only be hand to mouth and will never become rich. Many people save a little and quit their jobs and start their own businesses be it online or offline and many people have done so. They are successful but only those who have already thought about what to do after leaving the job and how to achieve success.

When you leave a good job, you have no other option but to be successful, for which you have already thought of the best course of action that you must adopt. Trading cryptocurrency from a job can be very risky especially if a person is new to cryptocurrency and doesn't know well about coins and market movement it takes years.

Having a steady income will certainly make it easier for us to develop whatever business we want and I really agree with you, it would be better for us not to leave a job that can give us a steady income because what we get from trading cannot be guaranteed to continue to be profitable. and occasionally we may make mistakes that cause us to lose on the trades we make and with this steady income, of course this will really help us in meeting our needs when we fail in the trades we make.

Why would we though? That's the point, the question is like so simple to answer, because why would we stop getting a steady income for getting a risk that doesn't have proper reward. It's like saying " we should not stop breathing", well yeah. Many people agree with you and me, everyone keeps saying it, so why the question was even asked? In the end, I guess every question needs to be asked at times, to make sure that we are all on the same page.

I agree that steady income would be superb, because it allows us to have better investment and we would not be in a rush and we can wait for it to go up so much more. If you have steady income, you could just keep on investing more and more, eventually that will grow to a wealth for you.