Occupational hazards of trading crypto

[Rruchi man]

Many occupations are plagued with occupational hazards, that is long term effects of staying in a profession for a long time.

say for instance, For retired mechanical engineers who spent most of their active years working in places with heavy machinery with much noise, you'd notice how they always speak at the top of their voice and may have hearing defects.

For retired medical practitioners, due to long exposure to hospital environment that always has a particular smell, you observe that they may loose their sense of smell.

For Nuclear Engineers, they are at a higher risk of suffering the long term effects of radiation after retirement.

Aim of this Discuss
Trading of crypto full time as an occupation is fast becoming a trend, this discuss is to elucidate the long term effects associated with crypto trading so that forum members who are considering it as a career option can know what they should be expecting and how to avoid it.

The very first long-term occupational hazard i can think of is the development of High blood pressure...

What can you add to the list of dangers associated with making crypto trading a full time occupation?

[AlexGC]

Well going bankrupt and killing yourself is probably the biggest hazard out there besides the 24/7 stress.
What is also unfortunate is that it seems bullruns are much shorter than bear cycles. meaning your happy time is less.

and it doesn't matter where you bought BTC. if you bought at 100, we go to 70k and back to 40k. the 40k hurts. Thats just how humans are. only few can zoom out and see the big picture.

[hyudien]

I don't think that's entirely true. Because we do not feel how it is in the field of work. It's just a theory of cause and effect but not necessarily generalizable or also felt by all workers. Good in any field, but not all of them have to enter the world of trading.

I explain, how we reverse the above statement that came out of a medical practitioner who said: for crypto traders, the risk is losing money due to the implementation of the wrong strategy. Does not guarantee daily profits, sometimes have to deal with long bearish markets, and delayed earnings.

Finally, all accuse each other and praise their respective professions. In fact, everything that becomes a job has various levels of risk.

[wxa7115]

Aim of this Discuss

Trading of crypto full time as an occupation is fast becoming a trend, this discuss is to elucidate the long term effects associated with crypto trading so that forum members who are considering it as a career option can know what they should be expecting and how to avoid it.

The very first long-term occupational hazard i can think of is the development of High blood pressure...

What can you add to the list of dangers associated with making crypto trading a full time occupation?

Very interesting topic, many people think that since a trader is just sitting down in front of his computer there are no risks but they do exist.

1. Eyesight deterioration. Staring at your monitor is known to deteriorate your eyesight, so a person dedicated to this activity will do so for longer periods of time than the average person which could lead to severe problems on their eyesight in the future.
2. Stress. Stress is known to aggravate a huge deal of other diseases like high blood pressure.
3. Gastrointestinal issues. I remember reading in a book long time ago that the pressure of trading the markets created more gastrointestinal issues in those that traded the markets compared to other professions.
4. Sleeping disorders. Have you ever lost a big trade? Almost all traders have and this can lead you to have problems getting to sleep, if the loss is big enough then it could take you months to recover and the same can be said about your regular sleep patterns, which down the line can lead to many more health issues.

[dunfida]

The very first long-term occupational hazard i can think of is the development of High blood pressure...

What can you add to the list of dangers associated with making crypto trading a full time occupation?

This might be pertaining on trading stocks or traditional markets but overall concept or scenario is just the same.

Stress and bad eating habits lead to fatigue, foggy thinking, bad judgment, weight gain and stomach problems.
Stress also can lead to more serious symptoms, such as irregular heartbeats, and self-defeating self-medication, such as heavy drinking and dangerous drug-use habits.
Spikes and elevated levels can lead to increased sugar levels that may induce pre-diabetes or weaken immune systems. Stress can also diminish other hormones—testosterone, serotonin and dopamine, in particular.

Source: https://www.cnbc.com/2015/09/09/market-volatility-is-bad-for-your-health-commentary.html

So stress would be your primary enemy on this one thats why its really that important for you to be mindful or watchful of yourself on whats happening because
it might not directly able to happen but doing this for long period of time will surely give out that kind of probabilities.

[rhomelmabini]

What can you add to the list of dangers associated with making crypto trading a full time occupation?

It's always go down to stress I guess that may lead to other sicknesses as you may continue, that is why I only do swing trade these days. It's not stressing, you have plenty of time for yourself and family and of course plenty of time to find some part time jobs across the crypto sphere.

[Maus0728]

The very first long-term occupational hazard i can think of is the development of High blood pressure...

What can you add to the list of dangers associated with making crypto trading a full time occupation?

I think it's kinda normal that other people are already prone to high blood pressure regardless of what the job/occupation is. I don't find trading to be that severe to the point that my blood pressure reach a little high -- as of course, having trading strategies first, studying how you behave in each losses and wins and learning from those, is the best practice to prevent such hazard. Still, there are some occupational hazards I have encountered being a student, and...

These are my insights:
1. If you are a student, spending your time in studying trading and the market plus making some positions CAN BE A HUGE BURNOUT. Being an undergrad, especially in college, have a lot of requirements to do. And if you are not good at managing your time or unsure whether to make money in trading or finish your studies, then you would feel being burnt out from time to time.
2. If you are a student, instead of using your money for things you need both in your daily life/responsibilities, then you are using it for trading (without even having a fixed emotion that you wont be frustrated), losing it will have you frustrated for longer period of time without you noticing it at the first place.

[Mahanton]

1. Affecting your eyesight (long exposure on monitor)
2. Emotion (rather impulsive or having that extreme stress)
3. Physical (less exercise.. prone to problems)

You would really experience up things if you dont know on how to balance everything up.
It is true that trading does have some hazards if you overextend too much.

[Cookdata]

Aim of this Discuss

Trading of crypto full time as an occupation is fast becoming a trend, this discuss is to elucidate the long term effects associated with crypto trading so that forum members who are considering it as a career option can know what they should be expecting and how to avoid it.

The very first long-term occupational hazard i can think of is the development of High blood pressure...

What can you add to the list of dangers associated with making crypto trading a full time occupation?

I can add few I remember when I tested trading sometime ago. Trading is very hard if you are not prepared especially this thing that annoyed me and keep repeating, it is when you sell the price always go up and fall when you buy, I keep making that mistake until I got tired and gave my self some break, and what I learned during that period are:
1. Lack of good sleep: It's not that I wake up in the night to check my trades but psychologically, I do remember my opened trades while on sleep, weird right!
2. I don't eat on time: I developed this habit of eating late until I release my ulcer was getting increased, trading affected the way I eat.
3. Trading made me have little for love for family friends, loosing money is not easy, your reaction to your families speak how angry

[Oceat]

1. Affecting your eyesight (long exposure on monitor)
2. Emotion (rather impulsive or having that extreme stress)
3. Physical (less exercise.. prone to problems)

You would really experience up things if you dont know on how to balance everything up.
It is true that trading does have some hazards if you overextend too much.

I find it more stressful when facing the monitor while spending most of the time sitting for long hours if you choose the full-time trader career. Well, it depends to one person on how would they balance their time by doing some exercise each day or to take a break every hour or something depending on when they want to stop. Doing full time doesn't really benefits that much that's why I think working smart than working hard is best way to explain this.

[Bitcoin_Arena]

When you are a day trader on intraday trader, the following happens, at least according to my experience, especially as a newbie;

1. Insomnia, lack of sleep or abnormal sleeping patterns (sleeping disorders)
2. Less social. You don't want to interact with friends or go to parties because you feel you have to trade, or you might lose a trade.
3. Less active in terms of physical exercise. Very bad for health in the long run
4. Depression or psychological distress due to lost trades

The solutions I got for these were;

1. Trade less often. Trade only when it's necessary  or when the market is trending. Sometimes I can even trade once a week or every 2 weeks.
2. Risk management to avoid heavy losses
3. Have my mind prepared. For every trade I open, I should expect a loss too.
4. Trade with funds I can afford to lose.
5. Have a personal gym near my trading station.

[GreatArkansas]

(....)
What can you add to the list of dangers associated with making crypto trading a full time occupation?

For health, depression is a good example. Since we all know how trading is difficult, it involves money. There is already lof of people who already lost a lot of money in trading, some of that money are family savings money or borrowed money and they just lost in trading, this is a very difficult experience and huge possibility that will lead to depression.

[Strongkored]

All jobs has long-term effects that can be detrimental to the body and mental, but we can reduce these adverse effects by being disciplined in exercising and having enough rest time so that the body can be fresh enough and can affect the mental as well.
Usually full time traders only have few hours of sleep because the focus on trading the mind is always focused on how to trade.
Stress is higher especially if the trade is not on target
It is difficult to socialize because it is more at home in front of the computer, thus losing its social life.
And there will definitely be many diseases that arise if this continues.

[tranthidung]

Trading is bad by multiple reasons

• Most of traders are in loses, not in profit. About 5% of them can earn profit
• Most of traders spend too many times on computers, laptop, on chair, in front of computer screen that consequently result in some health issues: physically and mentally. Physically, some issues can be Herniated Disc, Carpal Tunnel Syndrome, etc. Mentally, lots of stress.
• When you are in loss, you will make next worse decisions and kill yourself.
• Don't use large part of your capital for trading. It's better to use Spot trading and please don't start leverage trading if even with Spot trading, you can not manage your position well enough.

[tvplus006]

1. Eyesight deterioration. Staring at your monitor is known to deteriorate your eyesight, so a person dedicated to this activity will do so for longer periods of time than the average person which could lead to severe problems on their eyesight in the future.
2. Stress. Stress is known to aggravate a huge deal of other diseases like high blood pressure.
3. Gastrointestinal issues. I remember reading in a book long time ago that the pressure of trading the markets created more gastrointestinal issues in those that traded the markets compared to other professions.
4. Sleeping disorders. Have you ever lost a big trade? Almost all traders have and this can lead you to have problems getting to sleep, if the loss is big enough then it could take you months to recover and the same can be said about your regular sleep patterns, which down the line can lead to many more health issues.

I can add to this, the higher the leverage, the higher the risks that will lead to a more severe health disorder. Accordingly, if you stick to risk management, you can significantly reduce not only the loss of your deposit, but also the negative impact of stress on your health.

[Wexnident]

Does losing money count? Cause tbf, all the psychological stress and whatnot that comes with trading is mainly due to the fact that we're mostly going to lose money in every venture of trade that we do. From that well it spirals down to mental health damage, stress, depression, etc., basically anything negative that could hit your emotions, not to mention that it also hits your wallet pretty hard. There's also the fact that ignorant people entering trading would get hurt more (granted it's their fault for entering without knowing anything) and would probably lose a lot more than the regular trader.

[kamilah147]

The biggest risk is not being able to stop where you need to be. all because of greed they went blind and sacrificed everything. When bankruptcy occurs, stress always comes to us and regret makes us despair.

[palle11]

I think there is the risk of sight. A trader especially day trader and scalper are use to being under watch of their trade orders and that is meaning staying under the rays of the phone screen or computer/laptop. So this is an effect, even at the moment if you don't use glasses as protection, you are at risk.

[usekevin]

If you had a occupation, don't quit it to do trade as a full time. Full time trade is not a easy one. You need to inverse certain amount and get that out with a profit. If you get 5-10 percentage of profit it's enough. But you need find the dump point. Dump point is the point at which all the cryptocurrency started to reduce a huge. When the point is find by you, you no need to worry about the pump or dump. You will not regret for the trade you had involved.

[henmark]

Well going bankrupt and killing yourself is probably the biggest hazard out there besides the 24/7 stress.
What is also unfortunate is that it seems bullruns are much shorter than bear cycles. meaning your happy time is less.

and it doesn't matter where you bought BTC. if you bought at 100, we go to 70k and back to 40k. the 40k hurts. Thats just how humans are. only few can zoom out and see the big picture.

Something else that I haven’t seen anyone point out yet in this thread is that being a full time trader you will have to be fully focused on your screen, and since you are required to be focused on your screen most of the time, it can also have an effect on your site later on.

So, it would be very important that anyone who is a trader takes this into consideration and be careful with the time they spend watching their screen so that it doesn’t affect their sight later on. Although there are now some features that comes with computers and smartphones these days, which is known as blue light filter  that aims to reduce the effect blue light may have on us. But even at that we all need to be careful about having our eyes fixed to the screen all the time.