Don't ever quit your job to trade crypto.

[Taskford]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

The thing with any investment or business is that, no matter the amount of money you have, it is always good to start small and grow over time (don't test water depth with both feets). Because you are entering a new market and you need time to understand the market. Your job will stand as an insurance for you, in case of any loss. So keep your job, continue investing in crypto and growing your portfolio until the money you make from crypto is more than enough to pay for your lifestyle and also save. Then only can you quit your job.

Crazy decision to be made by anyone since we cannot really earn a fortune for trading in first year of our career here maybe they should learn first before they quite since they will break everything what they have if they risk their future for tradings we know bear market always strikes and its dangerous if we caught and left bag holding since we possibly end up broke and became homeless if we push this idea.

[XUR_TIP]

That's a advice to newbies who aren't ready to be fully committed to crypto trading, I've seen people quitting their jobs for crypto trading and they are now living ok than when they got a job, when you really want something to happen make sure you become so committed, expert and professional traders starts from somewhere and they sit at home watching charts and making thousands of dollars

[Welsh]

Crazy decision to be made by anyone since we cannot really earn a fortune for trading in first year of our career here maybe they should learn first before they quite since they will break everything what they have if they risk their future for tradings we know bear market always strikes and its dangerous if we caught and left bag holding since we possibly end up broke and became homeless if we push this idea.

Not completely crazy, although trading really isn't something I would recommend for those that are new to either cryptocurrencies or trading in general, because of their extremely volatile nature, a seasoned trader probably will have a lot of fun, because of its volatile nature. There's definitely profits to be made, and you could also argue that holding Bitcoin long term, might be as risky depending on your faith in the technology.

I wouldn't recommend anyone quits their job, to pursue something they've not had experience with. However, if you are good at it, and have enough experience then I why not. Bitcoin trading is as profitable as anything really. 

[Looper_U]

You guys know nothing, there are pro traders out there that spend their time to learn everything about trading, they dedicated lots of time and now it's paying off, ive seen too many people that life alone on crypto trading, trading isn't easy that's why many run from it but when you get a hold of it your life will never remain the same

[AniviaBtc]

Crypto is just another source of profit and still passion is the most important thing to prioritize.

I know that most of us wants to earn money and become successful, but we should also realize that there are some things that we should set in priority so everything is under control.

Also, cryptocurrency is much risky compared on doing your job so learn how to manage risk.

[onecall123]

It's not as simple as you can imagine. You need to put away your time and money then you will get dependent on this. The more cash you have in, the more you need to check. Since, It's hard not to look so this is a genuine issue. I used to be like this, now I just don’t care anymore. At the end, it's profitable to me so no matter what I'm in.

[akirasendo17]

you can see or view trading as an easy task for every trader but for traders, its really hard there are lots of things you need to know, needs to read graphs, how the market starts, and close those things are very important, next is because there are lots of coins in the market you need to choose what to trade daily, because tokens and coins are steady in an hour then, go down in seconds or minutes, for sure they still don't know the stress of trading, because if they only knew they will think of quitting their day job.

[Refrumatrix]

You can't do jobs with real crypto trading, you need to face one and leave the other to become a pro in trading, I'm not talking about casual traders but the real deal here, there are few things to overcome physically and mentally if you really want to be a pro trader

[sujonali1819]

There are many threads already created like this. And many times already described the difference between real life job and the virtual trading life. The answer is the same virtual life earnings is act as a bonus point for someone and real life job is the best things to keep hold it strongly.

So I would like to say people never should quit the real life job for doing the crypto trading, Because nobody can guaranteed that crypto trade always give you the wins. But the real life job is permanent (very lower chance to lose the job, ex, covid 19) and most of the case the family and the society give you respect according to your real life jobs. 

[skarais]

There are many threads already created like this. And many times already described the difference between real life job and the virtual trading life. The answer is the same virtual life earnings is act as a bonus point for someone and real life job is the best things to keep hold it strongly.

So I would like to say people never should quit the real life job for doing the crypto trading, Because nobody can guaranteed that crypto trade always give you the wins. But the real life job is permanent (very lower chance to lose the job, ex, covid 19) and most of the case the family and the society give you respect according to your real life jobs.  

I think it's a wise choice for anyone. But it depend on what work they are currently in.
I know that trading is a high risk activity, but if it is done with the right knowledge and experience, one can still make a profit for a certain period of time. So, if someone can maximize their potential and make big profit in trading, then they should start their own business if previously they only depend on other people especially if they work in a place that doesn't generate a decent income.

[Insanerman]

Is anyone here considering trading and investing crypto as a source of income?  IMO, I won't.

It really depends to be honest. Some people do find themselves happy when trading and satisfied everytime they learn anything about it. What matters is that they must not all in their savings and income in trading and investing. If it would be a source of income, it would tell others that it would not be that stable and still remind them that invest and trade only what you can afford to lose. There are tons of people that chose trading and worked out pretty fine, why? Because they love what they do and they know what they can and cannot do.

Isn't this topic too repetitive? I've seen tons of threads like this over the years both in here and in Trading Discussion..

[Fortify]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

The thing with any investment or business is that, no matter the amount of money you have, it is always good to start small and grow over time (don't test water depth with both feets). Because you are entering a new market and you need time to understand the market. Your job will stand as an insurance for you, in case of any loss. So keep your job, continue investing in crypto and growing your portfolio until the money you make from crypto is more than enough to pay for your lifestyle and also save. Then only can you quit your job.

In many ways, trading in crypto is similar to trading on the stock market. There are very few winners and the few that do have dedicated their life to mastering it. New users to crypto trading can fall prey to many traps, I would say the biggest one is believing they will keep winning when they have always been riding a trend. Take the recent burst of activity with Dogecoin recently, some will have done very well with it, buying and selling throughout. That doesn't make you an expert by any means, because you have joined in a manic market. Once you figure out ways to profit consistently (like when the bubble bursts) and over a period of years, then you might actually be skilled and not gaining by simply being part of the herd. Another trap is not diversifying with your profits - it's great you made money, but you should take some out and keep it in other assets. Even the best experts go through bad times and it can be crushing if all your money gets wiped out due to one or two shocks that were unexpected. If you have money elsewhere you can recover, if you don't, back to the day job.

[Rruchi man]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

Because you can trade from anywhere so far as there is good reception, and also facts that capital is intensive in trading, to quit ones job without a strong reason and when capital is low and will not yield good profit in trading is not wise.

If you must quit your job because of trading, let it be that the job is taking all your time such that it affects other side activities you involve in like trading, and the paycheck is not a sufficient equivalent of the amount of time you put in, and that you have gathered enough capital, knowledge and experience to get you on your way.

[Mpamaegbu]

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

Well, the truth is that "no man tests the depth of a river with both feet." That goes a long way to explain the huge risk of drowning that could arise from such a thoughtless action. However, I do know that there are many traders who quit their jobs once they become profitable. The ones who still keep a paid job while trading are those who aren't profitable. If you've an idea of what profitable traders rake in weekly in profit you will know it's pointless keeping a paid job.

Cryptocurrencies retain a reputation as an asset on which anyone can easily make money.

I'm at a loss as to how that shitpost of yours relates to the topic at hand.

[cheezcarls]

You’re absolutely right man. I remember one time that my friend decided to quit his job because he made so much money in crypto trading along with airdrops and bounty programs. He bought a new house worth more than $20k. However, his biggest mistake is that he already quit his job without being financially stable.

Relying on cryptocurrency trading (and being lucky on airdrops and bounty programs) isn’t making us financially stable. Because of that, his finances have dwindled quickly and even reached out to me to borrow money. I donated him $200 instead to at least help him survive.

But right now he had a stable job at the factory where the company sells kerosene. He had a decent salary at least, but this time, he won’t quit the job while still being active on cryptocurrency trading.

Same thing goes to me. I made a mistake relying on trading, bounties and airdrops alone. As a result, my money went downhill even months before the pandemic began. Right now, I am blessed of my stable job with a couple of crypto companies and ain’t planning to quit as they make me financially stable for now, but I am still hungry for more stable income apart from my online gigs that helped me get back what I’ve lost.

[Pffrt]

While you are true, I don't agree with your all points. It's very risky to trade daily unless you have good knowledge about what you are doing and they (traders) shouldn't quit their job, there's nothing wrong for HODLer to quit their job. There are a lot of early BTC miner, HODLer who have now turned into billionaire with a very small amoun invested. Why do they need to carry on their shitty 9-5 job while they can enjoyn their life with their own things? I'm planning to quit the job in the next few years too 

[GeorgeJohn]

Trading is something i have seen the equivalent methods as advantages and disadvantages in the same time, engaging into trading is good but is not to the extent of quiting in a job, except it's a situation whereby in the morning and night you are on system alone for Trading, so the advantages aspect of trading come this way, you might achieve a huge profit via trading through out one month interval without experience lost, while the disadvantages, can come and take off all the generated profit made for one month trading, so in nutshell, I'm trying putting these to everyone that trading is not what we can hope on, is better you have option A  first for any othe thing and let trading represent your options B, because their is no assurance in trading to make a profit consistently.

[qwertyup23]

Trading is something i have seen the equivalent methods as advantages and disadvantages in the same time, engaging into trading is good but is not to the extent of quiting in a job, except it's a situation whereby in the morning and night you are on system alone for Trading, so the advantages aspect of trading come this way, you might achieve a huge profit via trading through out one month interval without experience lost, while the disadvantages, can come and take off all the generated profit made for one month trading, so in nutshell, I'm trying putting these to everyone that trading is not what we can hope on, is better you have option A  first for any othe thing and let trading represent your options B, because their is no assurance in trading to make a profit consistently.

Imagine leaving your stable job and regular income to a platform where all uncertainties are endless and possible. Though trading may yield significant profit (depending on the capital), it can also have the potential to backfire especially if you are a newbie to the trading world.

Personally, trading cryptocurrencies is a double-edged sword. One has to really understand the market and study the technical analysis in order to have a reliable forecast on their prices in the future. Be reminded that relying on a irregular flow of income may be harmful long-term especially if you have daily/monthly obligations to meet.

[_BlackStar]

I don't have any income in cryptocurrency yet although I have currently made some purchases for bitcoin and some potential altcoin that I will invest in long term. So resign a real job is not a good option for me to do now.

There are consequences that must be considered by anyone who is as a trader if they want to leave a real job and I think they should make sure the estimated asset they currently manage have been able to build other businesses that are equally profitable. Price volatility is another thing every trader should consider if they want to quit their job.

None of us can predict the future of cryptocurrencies including bitcoin and all the altcoin that are currently tradable. So it would be better to keep working while collecting profits from trading to invest in other businesses in the real world without having to resign from his job.

[Issa56]

Seriously I believe you shouldn't have one one source of income if you are having a job then I will advise you not  to quit your job for a trading and if you are a trader I will advise you to have another source where you get money from if you really want to make it in life you should have different source where you get money from. You can be a full time trader and get another job or business which will just be like part time business and if you are having a job you can make trading part time business.