Is it okay to trade without a source of income?

[Wakate]

How do you accumulate your trading capital without a source of income in the first place, trading to start with requires a lot of money and for that reason, anyone who is set out to trade should have an extra cash flow to cover up for all the losses that comes along with it this is important to the extent that not having enough capital will end you in debt and depression if you failed to achieve your aim.

Trading without a source of income will only increased the urge to make quick profits so you can pay back the loan that was taken from either a bank or friend. The psychology of borrowing to do a business or trade most times do come with the urge to make quick profits so as to pay for the loan taken. Trading is sophisticated even when you have analysed the market, you can still enter it at the wrong time when everything is going the opposite direction.

I will not advise anyone to go take a loan because I understand the kind of mood that alone can station a trader. Gamble with fund that belongs to you and never tried to be greedy or looking for a quick strategy to make fast profits from the market.

[GIF-JOBS]

How do you accumulate your trading capital without a source of income in the first place, trading to start with requires a lot of money and for that reason, anyone who is set out to trade should have an extra cash flow to cover up for all the losses that comes along with it this is important to the extent that not having enough capital will end you in debt and depression if you failed to achieve your aim.

Trading without a source of income will only increased the urge to make quick profits so you can pay back the loan that was taken from either a bank or friend. The psychology of borrowing to do a business or trade most times do come with the urge to make quick profits so as to pay for the loan taken. Trading is sophisticated even when you have analysed the market, you can still enter it at the wrong time when everything is going the opposite direction.

I will not advise anyone to go take a loan because I understand the kind of mood that alone can station a trader. Gamble with fund that belongs to you and never tried to be greedy or looking for a quick strategy to make fast profits from the market.

I will never agree with trading with borrowed money, the market is always uncertain and even an experienced trader faces big losses at times, so sometimes even if you trade with good analysis, it can sometimes cause losses. So you have to trade within your own capacity, with your own funds, so that even if you face losses, it does not cause any bad situation for you. Here, those who decide to get rich quickly in a hurry, they can naturally face losses, this is not a matter of haste, so here you must consider the aspect of capacity well.

[Ojima-ojo]

It's a no no to take loans to trade with same thing with gambling, we must have the capacity to refrain ourselves from having the urge to keep at it in a way that we become pressured to trade by all means to the extent of taking a loan for that reason.


Trading is good to be done with money that you may afford to lock down for a long period of time without any demands for it or growing interest, all that can't be gotten with borrowed funds.

[DaNNy001]

How do you accumulate your trading capital without a source of income in the first place, trading to start with requires a lot of money and for that reason, anyone who is set out to trade should have an extra cash flow to cover up for all the losses that comes along with it this is important to the extent that not having enough capital will end you in debt and depression if you failed to achieve your aim.

This is the reason why a lot of people find trading to be very frustrating but they are the ones actually making it seem that way...the people they look up to as their mentors have businesses where they make their money from, some make enough money from mentorship classes...They have different ways they get money to always fund their trading accounts..it's important to build a source of income first

[Powerjumboo]

At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

Of course you should take the advice because your friend has given very good advice. Since you have come to the Bitcoin forum, I want to tell you that first learn about Bitcoin and then learn to gain experience in trading. You may have learned about trading for 10 to 15 months on the trading platform but I think you have not gained any experience in trading. If you had learned about trading for 10 to 15 months and gained experience, you would not have been the last to lose everything. So to learn about trading and adopt the strategy, you have to trade with a very small amount of money on the trading platform so that there is no regret if you lose money.

Never trade with debt on a trading platform. Whenever you trade with debt, you will suffer more. Till date, no one who has traded with debt on a trading platform has been successful, in fact, they have suffered more and finally lost their homes car etc. You should first acquire trading strategies and trading experience and take more advice from your friend because your friend is probably very experienced which is why your friend has given you a good plan.

[Muba20]

Trading is generally a risky and uncertain platform. In this platform, there is no certainty as to when a trader will be able to make a profit. If he does not have any source of income, then it will be difficult for him to survive in trading. Even if he is in loss, he will not get the support he needs to recover that loss. Certainly, if a trader does not have a stable income, then his chances of financial loss will be high.

A trader already has to trade under a lot of pressure, if he does not have a fixed income system, then the level of pressure increases further because he has to make a living through the profits earned from trading. Due to the high mental pressure, he can make a wrong trade at any time, which will be a big problem for him. That is why it is necessary to have a stable source of income before starting trading. This will enable the trader to conduct trading activities normally.

[Ishicryptic]

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

You already lost your trading capital and that should tell you that you shouldn't depend on trading as a major source of income, if you take a loan to trade you can lose it again then become indepted. The best thing for you to do is get a regular paying job or business that can take care of your expenses before you can think of trading, trading is risky and you should not depend on it to survive especially as a newbie. Your best option for now is to concentrate on Bitcoin investment while you are learning about trading, when you gain sufficient knowledge you can start to trade with small amounts that you are comfortable to loose.

[palle11]

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

Your friend is right in the advise that he gave to you. How long would you go on loan to trade?

However, it is not advisable to borrow money to start trading online. If you do that, you will be on pressure to pay back and that will make you lose your emotion and that will make you to increase your risk unnecessarily which is a recipe for failing. Trading requires proper knowledge and money management.

As for source of income, it is very important because you can fall back on what you have served from the job anytime you have need to refund your account if you lose your account. Take heed to your friend's advise, it will help you.

[ChocolateBitcoinK]

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

You already lost your trading capital and that should tell you that you shouldn't depend on trading as a major source of income, if you take a loan to trade you can lose it again then become indepted. The best thing for you to do is get a regular paying job or business that can take care of your expenses before you can think of trading, trading is risky and you should not depend on it to survive especially as a newbie. Your best option for now is to concentrate on Bitcoin investment while you are learning about trading, when you gain sufficient knowledge you can start to trade with small amounts that you are comfortable to loose.

Especially when a newbie starts trading at an early stage, he naturally thinks that trading is a good way to get rich quickly, but here they have a completely wrong mindset, the first thing to keep in mind is that just by learning trading, you cannot accept trading as your source of income, if you lose all your capital at that time, there will be no other supporting way to make a living, which will cause a very negative situation for you.
Trading is a skill, and it takes time to acquire skill, it requires deep knowledge, which you have to learn over time through a lot of research to achieve, so don't rush here, quitting your job to trade is never the right decision, by learning trading, a person can accept it as a side income source, but do not make trading the main source of income.

[gunhell16]

Trading is generally a risky and uncertain platform. In this platform, there is no certainty as to when a trader will be able to make a profit. If he does not have any source of income, then it will be difficult for him to survive in trading. Even if he is in loss, he will not get the support he needs to recover that loss. Certainly, if a trader does not have a stable income, then his chances of financial loss will be high.

A trader already has to trade under a lot of pressure, if he does not have a fixed income system, then the level of pressure increases further because he has to make a living through the profits earned from trading. Due to the high mental pressure, he can make a wrong trade at any time, which will be a big problem for him. That is why it is necessary to have a stable source of income before starting trading. This will enable the trader to conduct trading activities normally.

if you get into crypto trading without any source of income, the only possible ways for you to get money are to ask your parents or borrow from your friends. And if you're a bad person, you'll steal from a bank or rob people.

What if your parents and friends can no longer give you money? Then you won't have a chance to trade anymore, right? This just means that you can't get into crypto trading without a source of income. You absolutely need one.

[Jaksonhard]

I think every trader trades to make money. Since they are very much inclined towards trading, they become more crazy about trading, because they need some advice that can make their trading more risk-free. However, since trading is a platform to make money, it will not be easy to trade at all, if you can afford to lose, you can start trading, but I think they should start trading with a very small amount of money, because first of all, since they are not very knowledgeable in trading, there is a high chance of losing, so they should use money that they can afford to lose and also increase their knowledge and strategy. However, it may take a long time, but those who want to make money by trading need to train for a long time and increase their strategy and knowledge more.

[Moreno233]

I don't know if you are aware of prop firms, some of them  host different competition whose entry is free and if you come out among the first 100 persons, you will win a funded account to trade for profit split. This makes it possible for people without capital to trade provided that have mastered the skill to pass and remain among the best traders. Just search funded trading competition on Google and you will see many of them.

[Su-asa]

I don't know if you are aware of prop firms, some of them  host different competition whose entry is free and if you come out among the first 100 persons, you will win a funded account to trade for profit split. This makes it possible for people without capital to trade provided that have mastered the skill to pass and remain among the best traders. Just search funded trading competition on Google and you will see many of them.

Actually I have also heard about prop firm. Just like giving you an account funded with little money to trade and when you come out as one of the top 100 traders with huge profits then you are qualified. However, there's a lot of knowledgeable traders doing it. So if OP really want to join prop trading that means he must be damn good at trading because there are more good traders that are ready waiting to get that opportunity.

[GIF-JOBS]

Trading is generally a risky and uncertain platform. In this platform, there is no certainty as to when a trader will be able to make a profit. If he does not have any source of income, then it will be difficult for him to survive in trading. Even if he is in loss, he will not get the support he needs to recover that loss. Certainly, if a trader does not have a stable income, then his chances of financial loss will be high.

A trader already has to trade under a lot of pressure, if he does not have a fixed income system, then the level of pressure increases further because he has to make a living through the profits earned from trading. Due to the high mental pressure, he can make a wrong trade at any time, which will be a big problem for him. That is why it is necessary to have a stable source of income before starting trading. This will enable the trader to conduct trading activities normally.

if you get into crypto trading without any source of income, the only possible ways for you to get money are to ask your parents or borrow from your friends. And if you're a bad person, you'll steal from a bank or rob people.

What if your parents and friends can no longer give you money? Then you won't have a chance to trade anymore, right? This just means that you can't get into crypto trading without a source of income. You absolutely need one.

This is absolutely correct, trading without a source of income can never be right, because to trade, you must first have capital, in the first stage you have to lose and learn trading through it, but if you do not have any source of income, how will you lose the money through which you will learn trading? So to learn trading, you must first prepare financially, in the first stage you will lose a lot and you have to endure all those losses and gain skills over time, so even if you accept these losses, you must first be financially independent, only then it is possible to learn trading well here.

[programmer3666]

How do you accumulate your trading capital without a source of income in the first place, trading to start with requires a lot of money and for that reason, anyone who is set out to trade should have an extra cash flow to cover up for all the losses that comes along with it this is important to the extent that not having enough capital will end you in debt and depression if you failed to achieve your aim.

This is the reason why a lot of people find trading to be very frustrating but they are the ones actually making it seem that way...the people they look up to as their mentors have businesses where they make their money from, some make enough money from mentorship classes...They have different ways they get money to always fund their trading accounts..it's important to build a source of income first

The thing is trading without another source of income is like moving a boat without an anchor!! once trouble comes then you will be carried away by the river without stress. i think many people fail in trading not because they don’t know how to trade but because they depend on it as their only way to surviving financially. i feel that as a trader when you have a steady income, it gives you peace of mind. you will not be under pressure to force trades, chase losses or risk too much just to pay some bills. that is why most successful traders always advise people to first build another source of money before depending on trading. trading should be a way to grow your money gradually, it is good to have another source income first, then use part of it for trading!! at least that way you can trade with patience, discipline & a clear mind.

[DaNNy001]

First of all it is not advisable to chase after your losses in trading talk more of going to go take loan to chase after your losses, instead you will in-depth yourself the more and to me it makes no sense whereby you are getting yourself in-depth the more. Trading is very risky in an twinkle of an eye all your money is gone, that's why it is advisable to trade with the money you can afford to lose to avoid chasing after your losses, because it will not end well for you when you are chasing after your losses in trading.

Trading is capable of making you rich and poor at that same time, it all depends on how you take utilize what is made available to you...An emotional trader will always end up losing, trading is even more dangerous than gambling when you decide to start chasing with it...people who profit from trading are those that are strategic, patient and disciplined...chasing after your losses inst really a good idea

[Z_MBFM]

First of all it is not advisable to chase after your losses in trading talk more of going to go take loan to chase after your losses, instead you will in-depth yourself the more and to me it makes no sense whereby you are getting yourself in-depth the more. Trading is very risky in an twinkle of an eye all your money is gone, that's why it is advisable to trade with the money you can afford to lose to avoid chasing after your losses, because it will not end well for you when you are chasing after your losses in trading.

Trading is capable of making you rich and poor at that same time, it all depends on how you take utilize what is made available to you...An emotional trader will always end up losing, trading is even more dangerous than gambling when you decide to start chasing with it...people who profit from trading are those that are strategic, patient and disciplined...chasing after your losses inst really a good idea

Right you are, Trading is a matter of patience when someone cannot be patient and wants to make profit from trading quickly he ends up with loss. A person I know has increased his balance from $400 to $3200 in 3 days through trading but after doing this he became much more greedy and continued his trading to make it $10k and he thought that since his profit in 3 days was $2800 with just $400 then he can make his balance $10k in 7-15 days such expectation made him very panic and greedy. He was doing futures trading and finally he stopped his trading with 0 balance. His greed was so much that even after making 8x profit he was not satisfied so he lost all his money. So if you use trading like gambling then the end result is like this.

[GiftedMAN]

Trading is capable of making you rich and poor at that same time, it all depends on how you take utilize what is made available to you...An emotional trader will always end up losing, trading is even more dangerous than gambling when you decide to start chasing with it...people who profit from trading are those that are strategic, patient and disciplined...chasing after your losses inst really a good idea

The good side of trading is that you can be lucky to make profit that you haven't had in about 6 months in one day that you had a very good trade but when you are losing in your trade there is nothing you can do other than to stop trading and not chase your losses or apply emotions cause it will do you no good that to create more losing opportunities for you.

[o48o]

if you get into crypto trading without any source of income, the only possible ways for you to get money are to ask your parents or borrow from your friends. And if you're a bad person, you'll steal from a bank or rob people.

What if your parents and friends can no longer give you money? Then you won't have a chance to trade anymore, right? This just means that you can't get into crypto trading without a source of income. You absolutely need one.

Wouldn't that same thing apply even if i wasn't trading?

Imho worst thing about the idea of trading without steady income is that you don't have any safety buffer to fall into. And that makes you more afraid to make bigger risks when all your money is tied to it.

Not to mention that taxes probably make it even harder and it's likely if anyone handing you money would find out that you had money to play with trading all along, would immediately cut their helping hand, or even want their money back.