what would you do when you can no longer trade?

[Dr.Bitcoin_Strange]

Some people (traders) took trading as their only source of income, although they make profit frequently from trading but they are not investing into other asset, rather they are only spending the money on their present needs and maybe the profit some of those kinds of traders are making is not enough to let them invest into other assets that can give them a passive income.

My concern is that, during old age or dou to some certain health issues during old age, most traders might not be strong enough to look at the monitor any longer and be able to analyze that market and make predictions for their trades. At such situation, what source of income would the person depend on? Non! They wouldn't have any source of income to relay on and that's because they only took trading as the only source or income during their youthful age and they didn't invest on other source of passive income.

I know that there are some successful traders who are making a lot of profit from trading and the huge profit they made have allowed them to invest into other asset and has helped them have more than two source of income. So, this post/thread is not for such traders.

This topic is directly concerned to those traders that have intention of making trading their only source of income or trying to make trading their life time job. My suggestion is for you not to only relay on trading. Invest in other passive source of income and also in good assets so that when you can no longer be able to analyze the market, you can survive on your other investment.

[mirakal]

Trading is never a do or die. Don't rush into trading just because it's what successful people are doing. Know your capabilities if you can be a potential trader or not. Instead, find good alternatives that you can still make substantial profits like investing or developing your own skill and make it as your source of income. That way, losses are manageable. You will only lose if you don't know what you are doing.

[Oshosondy]

I do not think there should be that kind of trader or the trader is stupid. Traders do know some things, that not all days can be good, also that trading can really go bad for them at anytime. So they save a lot of money if they make money from trading. You will also see them diversify and buy properties.

[passwordnow]

I think that most of us has an ending game plan. If your main source is trading and you don't diversify into other things then your missing the whole point of what you do. I've known real life traders and they're not going to stay trading forever. They're making for as much as they can right now and gathering enough amount to venture into other things, investments, assets, businesses. And soon when they're already established, that's when they'll leave trading but I don't believe them. Because that's your beloved source that has been with you from all of this time and able to built your networth so, they will still trade but then very casual and not the typical day trader anymore. So, while we're strong, invest somewhere else, increase your cash flow and make more money in trading while you can because it's not always a good day there.

[EL MOHA]

My concern is that, during old age or dou to some certain health issues during old age, most traders might not be strong enough to look at the monitor any longer and be able to analyze that market and make predictions for their trades. At such situation, what source of income would the person depend on? Non! They wouldn't have any source of income to relay on and that's because they only took trading as the only source or income during their youthful age and they didn't invest on other source of passive income.

Before getting to this stage some phases of life would have definitely happened to them either they must have actually gotten a passive income investment or they actually didn’t have much to invest which could be as a result of catering for their own family. Getting to an age where they can’t use the phone or any other device to analyze again means they will have gotten their own family to actually take care of them because family is the only or the most important thing that stops a man from getting his own passive income. Other than that it is very rare to see such a person without both and struggling later without anything

[AmoreJaz]

I do not think there should be that kind of trader or the trader is stupid. Traders do know some things, that not all days can be good, also that trading can really go bad for them at anytime. So they save a lot of money if they make money from trading. You will also see them diversify and buy properties.

Trading activity should be treated as just a side hustle as its outcome is not always on the positive side of things. I can understand if some traders are full time on this, however, I believe, some of them have other sources of income as their back-up. Even expert traders can't assure their profits all the time. In some instances, they will also suffer losses. Hence, should have contingencies when it comes to other financial needs.

[Davidvictorson]

Trading is never a do or die. Don't rush into trading just because it's what successful people are doing. Know your capabilities if you can be a potential trader or not. Instead, find good alternatives that you can still make substantial profits like investing or developing your own skill and make it as your source of income. That way, losses are manageable. You will only lose if you don't know what you are doing.

I will also add that if you as a trader is feeling stuck, then take a break. How would the person know, consistent losses, in consistency in keeping up with trading due to some other of life's responsibilities. Contemplating taking out a loan to trade and all others. It is very okay to take a break, still be in the trading community while exploring other things. What is not okay, is the person pretending that they have their trading shit together when they don't and eventually having a mental break down.

[BitMaxz]

This topic is directly concerned to those traders that have intention of making trading their only source of income or trying to make trading their life time job. My suggestion is for you not to only relay on trading. Invest in other passive source of income and also in good assets so that when you can no longer be able to analyze the market, you can survive on your other investment.

So you are advising them to invest in other passive income? Most of the traders that I do follow aren't actually investing but participating on offers, promo, or airdrops from the exchange, like holding something and receive something coin or token as their reward from participating.

Can you recommend a passive source of income? As I am unsure of which cryptocurrency will provide risk-free passive income, do you know of any that have lower risks, such as staking USDT?

[logfiles]

Even in the business world. You can rely on only one business as a source of income. Diversification on different forms of investment is key. The same applies to trading. When one depends on only trading for their source of income, they are bound to have their trading decisions affected due to pressure and emotions at times.

I, for one, do not support someone to depend on trading 100% unless if they have huge stacks of cash, properties or Bitcoins lying somewhere.

[tbct_mt2]

This topic is directly concerned to those traders that have intention of making trading their only source of income or trying to make trading their life time job. My suggestion is for you not to only relay on trading.

Except if you are a very experienced, professional trader, you can get profit from trading and you can have your main income from trading. Otherwise, trading is risk and majority of traders lose money with trading. In addition, if you get profit from trading very well and sustainable, it's better if you spend controlled and limited time for trading, and use most of your time for other things. So you can work for money, hang out for physical exercises when you are not trading.

Even you are a professional trader, you will still be able to do other jobs and get money, it means your income will not only come from trading.

Invest in other passive source of income and also in good assets so that when you can no longer be able to analyze the market, you can survive on your other investment.

Investment long term in Bitcoin is good and profitable. It is applicable for many people while trading is good only for very few people.

[taufik123]

When only trading can be done and there is no other opportunity to invest in the platform or any other type of work.
So as long as you are still able to trade and are enough to make more profits, make good use of the opportunity to raise as much money as possible. And it also needs to be balanced with the expenses needed to survive.

But normally people who already have enough assets to trade will divert a little of their capital to build other businesses that can generate passive profits, so it will continue to grow.

I myself even divide my investment money for other types of investments on other platforms, ranging from investing in the real world in the form of property or a business buying and selling staples or even developing investments in automated trading (but this is very risky).

More investment and business built will give you the opportunity to earn better income in the long run.

[Wexnident]

~

Pretty sure they take that into account in the first place? At least I reckon people who delve into trading would at least know how to save up money for their retirement. For those that well, have one but don't really earn enough to make it a reality, they just do regular work, just like any other person out there.

And I reckon it'd be a pretty obvious reality anyway after some point if they can't earn enough money to support their lives through trading early on, which would lead to them looking for standard whitecollar/bluecollar jobs.

[Strongkored]

Only relying on one income and that can't guarantee a better life in old age is a mistake, if there are traders like that maybe we can say they are stupid traders, but I don't think there are traders like that they will move to another job or do a second job to get more income, I mean trading is a job that requires intelligence so traders must know how to have assets, even for some time they cannot increase their assets usually they will stop trading and look for other jobs.

[pusaka]

Only relying on one income and that can't guarantee a better life in old age is a mistake, if there are traders like that maybe we can say they are stupid traders, but I don't think there are traders like that they will move to another job or do a second job to get more income, I mean trading is a job that requires intelligence so traders must know how to have assets, even for some time they cannot increase their assets usually they will stop trading and look for other jobs.

Indeed, most of what I see is also like that, they will have other jobs or income. They do not only rely on one source, even though it is a business that can be said to be small, but they have it. I think this will go back to our respective mindsets and usually people who think that trading can make them financially healthy are beginners who don't know anything about trading. Actually, this could be true, but we have to realize whether we are that professional or not. because this is not easy at all, even someone who is professional sometimes experiences losses.
I always thought that I wanted to have a business to run other than investing or trading. After all, having multiple incomes would be better than having only one source of income.

[FortuneFollower]

Only relying on one income and that can't guarantee a better life in old age is a mistake, if there are traders like that maybe we can say they are stupid traders, but I don't think there are traders like that they will move to another job or do a second job to get more income, I mean trading is a job that requires intelligence so traders must know how to have assets, even for some time they cannot increase their assets usually they will stop trading and look for other jobs.

Having a reliable source of income is essential in my opinion, besides trading itself.
That way, no matter what the market says, you are going to be fine.
But not everybody is able to do so, unfortunately. Or puts too much hope in the investing/trading part of his activities.

[X-ray]

The perception of some people that thinks of trading as a lifelong job I think is wrong.

trading is for growing the capital and to add into our wealth, with that wealth we can go on starting a business or becoming an angel investor.

so far I've been having conversation with some great minded people who are an avid trader, they always say that they don't plan to trade for prolonged time, they want to be reaching the stage of financial freedom and also building passive source of income and retire from trading.

trading is really exhausting activity not suited for old people and I can understand that, I also have that kind of mindset even though I just invests occasionally and not really trading and will probably settle once I can achieve my dream of being financially independent and reaching the stage of financial freedom.

[Lida93]

I strongly believe that any trader who falls into this category of Op's message is mortgaging the future because any experience trader doesn't need an angel to remind them that old age will surely set in where they won't have that vibrancy to actively trade anymore hence the need to have savings for that future even if he/she doesn't want to venture into other areas of income source but want to fully immerse himself in trading.

But the big question is how much will a trader be making from trades to be able to have so much sufficing to save for retirement. We all know not everyday we make profit, some days we lose, now how do one cope with having it all in just trading alone without throwing his net to other side hustling that could double his income source. Mehn! it's crazy to think I'll want to depend on trading alone with this unending inflation.

[FortuneFollower]

I strongly believe that any trader who falls into this category of Op's message is mortgaging the future because any experience trader doesn't need an angel to remind them that old age will surely set in where they won't have that vibrancy to actively trade anymore hence the need to have savings for that future even if he/she doesn't want to venture into other areas of income source but want to fully immerse himself in trading.

But the big question is how much will a trader be making from trades to be able to have so much sufficing to save for retirement. We all know not everyday we make profit, some days we lose, now how do one cope with having it all in just trading alone without throwing his net to other side hustling that could double his income source. Mehn! it's crazy to think I'll want to depend on trading alone with this unending inflation.

I agree with you. It's essential to have a stable source of income alongside the trading to not to fall off into what you describe.
Otherwise, it will end badly, in my opinion.

[Dr.Osh]

Well, I highly recommend for people who are dependent on one source of income, and they realize it. Instead, try to use the profits you have to create or develop your business, so that you are not dependent on one source of income. This is intended so that when something bad happens to your main source, you still have enough sources of income that you have built before. Well, this applies to people who have questions, what if we can't trade someday, or what if crypto can't be accessed or lost.

[TheUltraElite]

Trading should not be made the sole source of income specially because it is not a guaranteed money maker. A day job on the other hand will make sure you get your money in time as long as you are doing your work. It is also the reason why leaving your job for trading is a fatal decision to make.

My take is that there exists only a niche group of traders who make money regularly and it is foolish to try to become like them. It is better to do what allows you to make money and keep trading as a side hobby while your bigger option of gather bitcoin should be through long term stacking.

The adverse health effects of trading are not something to joke about.