what would you do when you can no longer trade?

[LogitechMouse]

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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.
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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.

TBH, I'm leaning towards the fact that these traders did already saved some of their profits for their future. I mean not all of them will put all of their money into trading even though they know that it's profitable for them. I believe they know that this time will come for them and as early as now, they will save their profits into something that would help them earn money still despite of them can't trade anymore.

You said it already that as a responsible trader/investor, we should invest into something that can still give us passive income if we are old and the first thing that comes to my mind when it comes to passive income is dividend investing particularly investing into the Stock Market. We know that there are some companies out there that are giving out dividends on a yearly basis. That could help them earn passively even though they can't trade anymore. Another one is real estate through rental income or buy and sell of properties. This isn't a direct passive income because there will be some things that you need to do like maintenance of the houses, etc. but I think it's a good way to earn income still if you can't trade anymore.

[jaberwock]

I think traders are people who are wise in managing the finances they get from trading results even though they actually only survive based on trading profits. We have to get passive income apart from trading, such as switching to a real work program considering that market prices are now starting to become abnormal.

starting from the beginning of this year until today, it is very chaotic, you don't always win in trading, but you have to survive even if there are losses. This idea is very suitable for people who have a lot of money and buy several coins in a portfolio to create their assets in the future with 100% profit from trading results. The important thing is not to rush and be wise in trading.

That is definitely true for people who do not have enough, but if your capital is big enough then you could do more with it and you could live based on that too. Like someone who has a million dollars, could make 100-200k a year, wouldn't be that hard, and could spend 50k a year to live, that is of course for USA, for other nations you could live for much cheaper as well. Meaning that it depends on the capital.

If you have low capital then you shouldn't be a full time trader anyway, you need a job and an income that can cover for it. You could make it better for you if you ended up with a job that pays you well enough that you invest and spend for your life at the same time, allowing you save some aside for trading.

[bigmanik]

Well yes there are lots of traders who take trading as a full time job but I actually do not recommend that to people are are new to trading
Trading should be treated as a side hustle or a source of passive income and not a full time job
And I will also strongly recommend that if you do happen to be a very successful trader do well to invest in other businesses and don't focus solely on trading this because trading is very very unpredictable and can literally go against you in anytime
Well this is just my opinion I'm open to corrections

[fullhdpixel]

When you are young you only spend time trading in front of the monitor screen but do not think about your long-term plan. that is a mistake. when we are still productive people making money with our skills, then as much as possible collect many assets for us to enjoy in old age.

Even young people don't trade because they think it was boring. They spend most of their time in the monitor but that is because they are browsing the social media and play video games. They waste time on these things because they don't have a plan yet about their future. Why they will do that anyway when they are still young? Though it is also good to start early so that we can go a long way and have no regrets but there are also adults who regret that they didn't enjoy their life when they are still young because they it is hard now for them to do it due to their obligations/busy schedules. Each has their own pros and cons, so it is only up to us now if which we think is better for us.

[Issa56]

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.

It’s not just good to have only one source of income, it’s not only applicable to only traders, but generally, always have multiple sources of income, in case if anything happens to one, the other one will serve as backup. I don’t really like the idea of having one source, even if it’s a reliable one. If you are a trader, it’s better you have other ways that you will be making money from, in case trading isn’t going well, then you will still be able to sustain yourself till things get back to normal.

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.

That’s why when making money, we should always learn to diversify our investments, don’t depend on only trading, if you are trading and you are making money from it, it’s just better to get other things doing. You can invest in other coins, most especially bitcoin, and make sure you have an investment outside the crypto space, maybe something physical.

[tvplus006]

...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. ..

Of course, the easiest way to provide for yourself in old age is to earn several million dollars and place them on deposits in various banks. But I think that in any case it is necessary to make social deductions that will allow you to later apply for a pension from the state.

[mindrust]

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.

Passive income is always the best imo.

Dividends, rental income, bond coupons... all of them beat trading. Even buying and hodling bitcoin beats trading bitcoin in the long run. If your assets are good, the less work you do, the more money you should be making. That's what smart people do while noobs bust their ass to make a penny from trading.

If your initial capital is limited and it is not enough to produce a decent passive income, you should probably find a better job and increase your savings.

[SOKO-DEKE]

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.

The reason why some of these traders always try to focus only on trading and take it as their main source of income is that most of them, who are making profits from it from time to time, always think that it will continue that way forever. They don’t realize there are always bad seasons, no matter how good and experienced someone may be in terms of trading. Some people believe they can be making more profits in trading if they have more capital to trade, so some of these traders believe that trading brings more profits than other investments over certain periods of time. As a result, they often forget that having only one source of income is risky because anything can happen to that source of 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.

Honestly, someone can just trade when they are still young and healthy. Once they reach old age, things start to slow down, and they can no longer do many of the things they did in their youth. At that point, it becomes hard to have the energy to trade, which shows that relying on trading as the main source of income may not be sustainable in old age. Therefore, it's a very wise idea for anyone to have different sources of income, so that if one source is affected, others can provide a backup.

[uchegod-21]

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.

Very serious recommendation. I had always thought that people who are skilled are safe because their services will always be needed and they will always make money. In the case of trading, there'll always be platform for trading and if they can't make good money again from trading, they can make money from teaching people how to trade.
But with regards to what OP said, maybe an accident that will amputate the victim or something related happens, how will they survive. We just wish such worse case scenarios shouldn't just happen to anyone. However, it pays to diversify.

[Jegileman]

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.

You have a very good point here and if such traders don’t get another means of income, no matter the knowledge of the market they have for years, if something happens to their vision dis to old age or not having the ability to look into the screens again to analyse, it’ll cost them a lot. Most traders are not actually going to depend on trading for their whole life, at some point, they just have to look for another source of income to bring passive income for them.

All traders that are profitable are in one way or the other looking for other means to fall on, maybe to be used as capital when they go out of funds while trading because availability of funds boost more confidence in the market while trading. What do we say about traders that open academy to boost their earnings and also teach others, can they also be said to have looked for another means of income like every trader should have?

[Finestream]

I think there will really come a time where we are no longer capable to trade anymore. And that’s when we can no longer create good trading analysis due to age and health deterioration when retirement age comes. So the best question here is, what would you do to maximize your trading outcomes while you are still highly able and capable to make your trades successful? Experience could make you successful of what you are doing. So as much as possible, trade and never stop learning from all your mistakes and losses as they will lead you to a productive trading outcomes in the future.

[bitgolden]

I can barely trade anyways, so I can tell you that holding is the way to go when you can't trade. If you ever reach old age or sickness, which I had sickness, then you just hold and not trade. I made a lot of money during the times when I was sick, or on vacation, or was simply busy. I spent a period in my life where I had to be in hospital for six months, not personally, someone I love, but I had to go there almost everyday, and I made more money during that time than any time I traded.

It just happened to be on some bull period so me making money wasn't really a shock, I just couldn't trade and put my money in bitcoin and I didn't sell most of them and made good money, then I sold them and did alright.

Obviously I got worse after that because I had to pay so many debts, but I made some good money this way. So if you can't trade, then just hold long term and you are going to make a lot of money, sometimes there are bear times but wait that out and during bull period you will profit.

[Nrcewker]

I haven’t seen anyone doing trading full time. Those who do, along with trading, also have a YouTube channel, Instagram page, or social media account where they share that they are doing trading full time. But the contradiction is that they are also a social media influencer or YouTuber. So they are making money from selling trading content. I have also seen some people who claim that they trade full time, but actively they sell their courses and make money. Hence, OP, you need to understand that no one does only trading for living. In trading there is huge uncertainty, hence no one can really make a life out of it. Some passive income is really needed to pay bills.

[kingvirtus09]

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.

The question is, why would you stop trading in the crypto space? Those are just two. First,  if you are not getting earnings from trading, it is not far to stop trading, especially if you have been doing it for several months and there are no good results, right?

Second, this is not your priority because you may have another source of income that is more of a priority to you, so you are not yet able to combine trading with work or another source of income that you have.

[EarnOnVictor]

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.

Well, we need to first define the professionalism/success of this trader in the market, if it is top-notch, then there is nothing to worry about. However, if the trader is such who is not good at it, no one will even teach him to find the alternative(s) because the market will regularly punish him. Trading is not gambling that will fail you if you are good at it, all you need is to sharpen your money and risk management strategy and you will always earn (no matter how little) and will find it difficult to lose big.

But this is not to undermine the importance of diversification, it's better because we do not know what can happen tomorrow. As one does a thing, I always advise that other businesses/investments are options too and I do not believe that it is enough until the person gets to the 5th investment/business plan. By that, the future and financial freedom must have been secured.

[SquirrelJulietGarden]

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?

If they are good traders, they can get good profit that can be used as investment to get passive income and they will have enough money for retirement, without need of active trading when they're old.

However, be old does not mean you can not trade and if it comes to time when you are no longer able to trade, it's time for dying. Because professional trader does not need spending much time for trading and with them, trading is simple with clicks for trades.

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.

If they are not good traders, they can finish their tradings before they get old. It' simple because they will lose all money they have within few months or years and don't have to wait till old age.

[michellee]

If they want to use trading as their only source of income, they must have better skills so they can trade anytime they want. They need to learn many things related to trading so they will have a better chance to make a profit. But they must know that will not easy to learn until they have a better skills because they must spends much time before they can be a pro trader.

They must search for the other source of income so they can earn more money and not just from trading. Having investment is a good idea for them so they can saves some of their profit to their investment.

I have a friend who rely on trading to make money. He doesn't stop learning from many sources, watching pro trader lesson, practices over and over. That makes him have a good skills in trading so he can make a profit many times with various amount. But he admitted that it is not easy to always learn because he can feels tired, lazy or else but he realize that he can only make money from trading so that wake up him and do more in trading.

[Coin_trader]

The question is, why would you stop trading in the crypto space? Those are just two. First,  if you are not getting earnings from trading, it is not far to stop trading, especially if you have been doing it for several months and there are no good results, right?

OP already give a circumstances that answer your question, for example if a user already not capable to do trade due to physical issue and others then he has no source of income to compensate for the loss. I think the main lesson here is trading is not a consistent source of profit that’s why you should just consider it as side hustle and get a job that can give consistent profit in the long run.

Second, this is not your priority because you may have another source of income that is more of a priority to you, so you are not yet able to combine trading with work or another source of income that you have.

You are completely overlooked the topic. You should read the bottom part because the conclusions of the OP answer this.

[Alone055]

I have a friend who rely on trading to make money. He doesn't stop learning from many sources, watching pro trader lesson, practices over and over. That makes him have a good skills in trading so he can make a profit many times with various amount. But he admitted that it is not easy to always learn because he can feels tired, lazy or else but he realize that he can only make money from trading so that wake up him and do more in trading.

Some people say trading is extremely difficult, I'd say I agree, but what isn't difficult? Anything that you don't know much about will seem difficult for you at first. When you watch others do a certain thing effortlessly, you feel like it's very easy but it is not easy, they make it look easy because they are good at it and they have been doing it for a long time which makes it look easy for them.

When someone gets into trading, they are required to spend a lot of time learning about it. Trading is a very vast subject, you can't learn everything so quickly, so you will have to dedicate your time to it if you want to learn it and be able to do it properly. Those who can't do trading even after spending time on it are not loyal to it, and that's the reason why can't do it. They don't focus, so they don't understand much of what they see, read, or hear.

Making money is not easy these days, so anything that you do with the intent to earn money will require you to put in a lot of efforts.

[justdimin]

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.

Leading a comfortable life out of crypto trading is not at all possible for everyone which means there could be less than 0.1% people from the entire crypto space who manage to lead a life out of trading. Still, such traders must be holding a very big capital and must be making less than 6% per annum from their capital. Because, such a big capital still a decent return out of it should be a working strategy in trading world for sure. For example, your capital is $200k and you make only 0.5% every month means you are making $1k per month which can be enough in some part of the world.

they save a lot of money if they make money from trading. You will also see them diversify and buy properties.

I agree, when your trading is consistently profitable then you will go for saving for your future. If I become a such a trader, I will set up all possible passive income business and will slowly come out of trading as trading is not for a peaceful day to day life.