Quit My Full Time Job to Trade Cryptos Full Time

[sheenshane]

In the past month and a half i've made over 100k arbing different markets and developing a very hard-to-beat strat. I submitted my resignation to my full time job last week . Wish me luck.


Long live crypto. 

Good luck and I hope that's not a coincidence because, for me, I prefer to have a job while doing trading as my source of extra income but of course, I can't do full-time trader but I can still do trading like long term treading.  That's really impressive that you've earned that big amount in just a month and in half, a good thing if you can maintain this and consistently making a profit every month if not, it's just luck that sometimes we may experience at the first time in our trading activity.

However, there are few traders I heard that the arbitrage is really working for them, but this doesn't mean a guarantee that you have to earn always and always have profit.  Sometimes we need to face those worst consequences that commonly happen on trading activity and I hope you're ready for that.

Make sure that you have withdrawn the initial amount of capital to your 100k profit and save this at least for whatever happens.

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[Hamphser]

In the past month and a half i've made over 100k arbing different markets and developing a very hard-to-beat strat. I submitted my resignation to my full time job last week . Wish me luck.


Long live crypto. 

Only a few could able to do that so you should cherish on what you had worked so hard because becoming a full time trader isnt for everybody and only a few could able to do that even myself do still cling up to become one
in spite of the years ive been trading but i cant still find myself to be in the profit state.This isnt something that can be achieved with those who do lack knowledge and skills.
Trading full time is stressful even i did experience on doing it on a weeks time when i dont have a job but i cant able to grasp on and making constant or ending up on profits this is why i cant still afford to quit my job
at the moment because im aint sure if i can handle it out in case i do quit. Good job and Good luck into the path you have chosen.

[octomon]

A few answers to the questions above.

I started with about 14k -> turned that in to 30k by holding some good tokens. From 30k onwards 90% of my gains have been from arbing, i always arb back in to stable coin and my primary portfolio is in stable coins.

I wont give any details about the pairs, exchanges , etc that i trade, you need to figure that out for yourself

At this point i've gone through about 8 different strats , arbing between different defi exchanges, arbing between centralized and decentralized exchanges, arbing using margin, occasionally buying dips on coins that i know are gonna go back up (monitoring twitter to stay on top of things)  

One key tip i can give you to trading on centralized exchanges is you need to understand exchange patterns  , whenever trading on centralized exchanges i will always monitor the hotwallets and sometimes the deposit wallets to understand inflow/outflow and if an exchange has paused withdrawals.

I've spent the better part of the past year researching defi , various projects looking for these types of opportunities , most of them become saturated quickly , some of them are natural inneffencies in the market where your biggest competitor is other traders .

The goal of quitting my job is to treat this as a full time gig, i need to build up my skillset so that i can better automate my strats, and at the same time i'm also going to work on building skillsets that are in demand by blockchain development companies, ie solidity, rust, python, nodejs . My day job was burning me out and crypto is something i am extremely passionate about, this is where i want to build my skillsets and take my career.

Maybe i'll make some millions on my strats , and the worst case i build a skillset that is in demand by blockchain development companies/teams and get a job in an industry i am extremely passionate about.

Having 100k in the bank from trading is huge motivator, but i very much see this as an opportunity to save myself from burnout and to do something i am passionate about. Long term the worst case is i go back to work in a year, best case i become a crypto billionaire.

[BuNga_cute]

Even though your account is a newbie, it looks like your crypto trading skills are very good. And what makes me even more amazed by you is that
your self-confidence is very high. Moreover, deciding to leave a full-time job to focus on crypto trading is a very big decision. I, who have been
trading crypto for more than 3 years, and made quite a lot of profit, don't dare to leave my full-time job in the real world. I wish you success,
and can generate the profit you want.

[Hughes_Ryan]

In the past month and a half i've made over 100k arbing different markets and developing a very hard-to-beat strat. I submitted my resignation to my full time job last week . Wish me luck.


Long live crypto.  

Congratulations, boy.  When successful, please share your ideas, methods, unbeaten strategy diagrams with us.  I greatly admire your assertiveness, but my condition does not allow to be like you.  )
I need work to pay off my debt. Lol

[Yatsan]

Well, it is good that you have made up your decision on taking full time to be a trader since it seems that you are seeing your interest into it and find it more profitable compared to working on a full time office job. But being a full time trader is not always into profit so you still better have another source of income or business if you don't want to take part of working full time into under other people's advice. Better keep going and good luck to your trading journey.

[Issa56]

I don't really believe this is the best decision you are making I believe cryptocurrency trading should just be a source of extral income which you can be making additional money which you can be using to pay your bills or other things, I don't believe cryptocurrency should be the main source of income because your income is not stable and if you are not careful you can lose all your funds you don't have to leave all your eggs in one basket. So I will definitely advise you not to leave you just and only depend on cryptocurrency for your source of income trading should just be a alternative source of income and not the main source of income.

[Peanutswar]

Well, we have different choices in life so there's nothing wrong with it also I think you already handle the market trading so good income for you at the same time you don't need to worry about your time because you can make trade whenever you want again this is a risky thing this requires a lot of skills and knowledge with a continuously learning too. Good luck with your path we are hoping that the knowledge you have can be share here to our forum so most of us will benefit too and try to make trading as a part-time or full-time trader.

[jrrsparkles]

Risky move, even though it is high return still it is not going to last long forever so you avoided a permanent source of income just for short term gains?

You can do arbitrage while you are working itself or better have other oassive income which can give you income when crypto trading is at bad condition.

[Strongkored]

In the past month and a half i've made over 100k arbing different markets and developing a very hard-to-beat strat. I submitted my resignation to my full time job last week . Wish me luck.


Long live crypto.  

Update and some answers to your questions :https://bitcointalk.org/index.php?topic=5321029.msg56477603#msg56477603

100K from arbit is a big number, I am sure that you have been in trading for a long time, especially in crypto.
Quitting your main job to become a full-time trader is a pretty brave decision and you have to really be able to manage your trading capital, good luck with your new job as a crypto trader.

[so98nn]

That is good decision only if you have proper savings plan, health budget in case of emergency and extra money to keep you alive in the doomsday! See, money is very bad thing and I have learnt this the most hardest way ever! Your life can come to a point where things could go wrong financially if you dont manage it systematically.

Remember that, trading is risky bet but with a risk comes huge profitability. So if you are staking your money in the Trading then make sure to take out the money for above mentioned things. GL to your future.

[New.in.trading]

In the past month and a half i've made over 100k arbing different markets and developing a very hard-to-beat strat. I submitted my resignation to my full time job last week . Wish me luck.


Long live crypto.  

Update and some answers to your questions :https://bitcointalk.org/index.php?topic=5321029.msg56477603#msg56477603

I really hope you are trading for more then a month. If this should be your first month of trading, there is no worse move than to quit your job and go fulltime trading. it also depends on your whole situation in life, though. Make sure all your needs are covered and you can bank something every month. Most important, if you are not consistantly profitable with that strategy for more than 5-6 months, you should not quit your job. Make sure rent is paid and food is on the table. Make sure all your bills for the next 8 months are covered. If you can answer all of the above with yes, then I wish you all the best in the world for your BTCUSD trading. If not, take a step back and give yourself more time.

[imstillthebest]

your working and your trading but you already earned a hundred k but if you quit your job and trade all day you can earn more than a hundred k .
you are on the right path and it does not make sense to work hard on a day job and earn not a 1/2 of what you are earning in trading .
goodluck for more bro and if you are done forumulating that unbeatable strat you can make extra money by that by selling or by coaching aspiring newbies in the trading ground .

[RealMalatesta]

Its hard for people to decide about quitting or not with there current job in exchange for something risky but I'm sure OP is confident about his decision since as he said he already earn 100k for his arbitrage trading and that's so impressive. Although $100k is big but I think that's not enough for building a good sustainable business since creating it needs more capital and that amount is lacking(IMO).

For sure once he earn more he will not settled on one earning option since money making is one of the target of most people here so lets hope for the best for him.

The reality is that we are in a situation where we could barely make this work even if we want to because crypto is volatile, I am not saying he will fail but the reality is that even if he succeeds over long period of time, there will be moments he can't and that is going to be though. Why?

Because he will need that money eventually, how are you going to pay bills if you do not spend any money, between food and grocery and bills and other life things people spend money on things and when you spend that much on things and also have a capital to protect, when you are earning that is fine but when you are losing you are going to spend the money on top of getting smaller which would be horrible. That is why I believe we are going to end up with something not so fun and I would rather not risk it, have a small part time fun job that you do not care about much and pay small time stuff like bills and so forth with that and trade with rest of your time so you can pay regular stuff with your work.

[geegaw]

Well, it is good that you have made up your decision on taking full time to be a trader since it seems that you are seeing your interest into it and find it more profitable compared to working on a full time office job. But being a full time trader is not always into profit so you still better have another source of income or business if you don't want to take part of working full time into under other people's advice. Better keep going and good luck to your trading journey.

Agree, the crypto market will have a lot of volatility at some point, generating a lot of profit for the participants but besides that, it also has very quiet periods, and in the quiet phase, the risk is higher than ever even if we have become an expert and experienced with the market, the situation at this stage always forces us to make risky decisions in search of profits. If we have a steady job at that stage, we won't have money pressure, stable income allows us to comfortably, full-time brings huge pressure and is easy to make mistakes

[Xxmodded]

More than five years I am in cryptocurrency and without working on any companies, I think have many way some time get much profit and I ever loss more in cryptocurrency, but I think looking good if free without any working on company and keep focus with trading, joining airdrop and bounty campaign. I have been faced with many sweet moment when get much profit from trading and joining bounty campaign or airdrop project.

[isaac_clarke22]

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Nice.
That's quite an inspiration there, OP. I was overlooking that quitting full-time job even remote ones aren't worth for crypto but it seemed like you rid of those doubts. I guess many would follow your tracks soon enough and it would be a lot of inspiration to be told to everyone since this pandemic destroyed a lot of businesses.
Quite risky but hella worth it based on your story, OP.

[RealMalatesta]

I really hope you are trading for more then a month. If this should be your first month of trading, there is no worse move than to quit your job and go fulltime trading. it also depends on your whole situation in life, though. Make sure all your needs are covered and you can bank something every month. Most important, if you are not consistantly profitable with that strategy for more than 5-6 months, you should not quit your job. Make sure rent is paid and food is on the table. Make sure all your bills for the next 8 months are covered. If you can answer all of the above with yes, then I wish you all the best in the world for your BTCUSD trading. If not, take a step back and give yourself more time.

That is actually quite true, because people make money during the bull run and think that they can continue to do that and the reality is that this was a cycle bull run that happens once every few years and you can't make money like this forever, and that is what many people are forgetting about, you can't make a profit like this which means you have seen the absolute best and you decided to quit your job and decided to become full time crypto trader on the wrong time.

I agree with you that someone needs to do this part-time for years before they can reach to this point, I have a friend who came in with the 2017 peak period and he decided to trade and he has closed his shop a bit (turned it to side-job) just a month ago, so dude has been trading for 3 years with success and turned about 1.7 bitcoins into 40 bitcoins during that period, now he is still investing and he decided not to work with most of his clients and just keep 2 big clients which will pay all his bills and even a bit of grocery for the house.

[Golftech]

Risky move, even though it is high return still it is not going to last long forever so you avoided a permanent source of income just for short term gains?

You can do arbitrage while you are working itself or better have other oassive income which can give you income when crypto trading is at bad condition.

Good point! but for someone who can earn more than his regular salary for spending

much lesser time. The choose is not hard to deal with, especially if you do have a good

system that you believe will work and brings you fortune. OP might see that and he

already balance this before he move forward and take this decision.

Reading OP's replies, simply shows that he's really developing a good system to

get higher chances of succcess.

[hopenotlate]

- snip -
Maybe i'll make some millions on my strats , and the worst case i build a skillset that is in demand by blockchain development companies/teams and get a job in an industry i am extremely passionate about.

Having 100k in the bank from trading is huge motivator, but i very much see this as an opportunity to save myself from burnout and to do something i am passionate about. Long term the worst case is i go back to work in a year, best case i become a crypto billionaire.

The one you described is a win win situation so seems like the best choice for you.
This is not something I would recommend to anyone doing profit now in this bull market like last months  some people may get fooled into thinking they are great traders, but not your case as your profit comes from arbitrages and it shouldn't matter bull or bear situation.

I like your "scientific" approach to what you are doing and am curious about your studies background and the job you quitted was somewhat related to this new path or was something totally unrelated.