Is it okay to trade without a source of income?

[DaNNy001]

It's okay as long as the money you are trading with isn't all you have.. normally, I wouldn't advise anyone to trade without a source of income because for the first couple of months or probably years it might be really frustrating. forex takes a lot of time to master and even after the learning process you wouldn't really start making Profit The way you anticipated.. A lot of newbies get overconfident especially when their trades are going well, the market can go in the opposite direction of your trades at anytime and if you don't have something as a backup it would affect you a lot..Focus on having something that pays you while working on you trading strategies.

[Freepips]

At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

First of all you don't need to take a loan from your friend to deposit in your trading account, because  definitely now or later you will loss it all. Having a source of income is essential for your profitability is trading. You need to first of all get a source of income as your friend advise. Seek for more knowledge in trading,  development your self emotional and psychology. Set a realistic  trading goals and plan for yourself. Sometime why you are lossing your profit back is because of overtrading. Journals all your trading activities and backtesting it properly.

[Rana590]

It's okay as long as the money you are trading with isn't all you have.. normally, I wouldn't advise anyone to trade without a source of income because for the first couple of months or probably years it might be really frustrating. forex takes a lot of time to master and even after the learning process you wouldn't really start making Profit The way you anticipated.. A lot of newbies get overconfident especially when their trades are going well, the market can go in the opposite direction of your trades at anytime and if you don't have something as a backup it would affect you a lot..Focus on having something that pays you while working on you trading strategies.

One can trade more rationally and make less emotional decisions when his income is steady. During winning runs, many novices become overconfident, but the market could change at any time. Long-term success requires dedication, planning, and ongoing education. The best strategy is to balance trading with a reliable source of income.

[Lanatsa]

At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.

First of all who does that trading without no source of income. Let me ask you can you go to catch a fish without a net? If no then you can't trade without a source of income because not having a source is like traveling without a destination. But if like you said that you are a skilled trader you ought to know what it takes to be one and the possibility of taking risks to do so.

You can imagine that you don't have a stable income but yet you went on to invest and now you are wanting to take a loan to keep up to target... This is a failed mission and I think you need alot of adjustment.

The worst thing is that there are people who are considering on taking up some loan for them to have that capital into their trading. In just using up your own common sense is on how you would be able to start trading when you dont have that capital? This is why its understandable that you would be needing up some job to have some start up or heads up or even trying out to sustain on making up some capital rather than on having nothing at all. Just like on what everyone saying on here is on how you would be able to make yourself starting up on doing trading if you dont have the money that you can be able to start on. Trading doesnt really give out that guarantee when it comes to this manner on which success and profitability isnt something that you can be able to know and also think that you would be experiencing tons of loses and mistakes along the way.

How you would be able to start up again once you do bust up all of your trading capital? Therefore, having a work will really be giving out that kind of advantage but of course you should really be just that only making use of the amount on which you can afford to lose and if you do have that plans on borrowing up money for capital then be that responsible on repaying it up again. Never ever think up on having that kind of taking up some loan without having the plans on repaying it out. You should really be that mindful on whatever the possible situations that you might be able to encounter along the way.

[kawetsriyanto]

Dude, you have tried trading and investing for 13-15 months. You said you got losses because you can't control your emotion. Besides you have no source of income, it means you also have lack of knowledge in trading and investing. And you still have no proper mentality as a trader, too. It doesn't make sense that you brave to plan for trading with loan money.  

I think you need to fix some matters, before you think to trade or to invest further.
1. Get a source of income. So you will have your own money to trade/invest.
2. Just focus to improve your knowledge first.
3. Make sure you have a better mentality before you trade/invest again.

[mich]

No I do not think it is ok for the investor to trade if he does not have a real income source. Trading is like gambling e do not know if we are going to make alot of profit or lose all of our capital.

It is a risky thing for us to do. And if we do not have a source for income well then there are things we will not be able to do. Like pay our bills and have enough money to feed our family.

[Japinat]

Is the question if it is okay? You will be thinking about how to sustain trading without sources of income. Even if we say that trading gives us profit, the real issue here is whether that is sufficient enough. Honestly, trading income is not reliable, especially if you are a beginner.

It is better to seek other sources of income. Taking a loan to fund our trading job is not good advice. Don't take it, or else you are putting yourself at high risk. You should think deeply about the risk it creates, as it was difficult to take a loan for something that was not assured

[GideonGono]

At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

Base on your previous experience you lost it all in trading, and you still want to continue? you even have the courage to take a loan even though you don't have a source of income? are you digging your own grave here?
How about your expenses how would you cover it if you would only relay on your trading skills?
You're friend isn't wrong to suggest on finding a source of income first before jumping back into trading.

[lombok]

At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

Base on your previous experience you lost it all in trading, and you still want to continue? you even have the courage to take a loan even though you don't have a source of income? are you digging your own grave here?
How about your expenses how would you cover it if you would only relay on your trading skills?
You're friend isn't wrong to suggest on finding a source of income first before jumping back into trading.

When it comes to failure, what is required most is the audacity to get back on your feet as well as the need to advance wiser. That is why is it possible to make decisions based on previous experiences without necessarily being paralysed by fear. Indeed, the decision to continue trading is correct, although effective this, constant availability of funds, in particular, to make a decision, will guarantee peace of mind. In this way, we are not only relying on hope, but we haveller ground which gives us implicit backing. If your plan is to go for trading then developing skills, enhancing the strategies and the manner in which risks are handled should be effective. More time would mean that more preparations are made, which will come in handy in enabling one to achieve the set goals and objectives of the journey.

[hyudien]

At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

I don't know what you mean by semi-skilled traders. What your friend said is 100% true and he said it based on his experience. But it's back to you whether you want to go through the learning process first before following your trading passion? because what I see is that you are trying to trade with passion not on the basis of wanting to understand crypto trading. You experience losses that continue to repeat themselves, you should realize that learning to trade is not enough for 1 or 2 years. Every method is sometimes effective, sometimes not and there is always a new one. So my advice is not to stop learning while ensuring that the main income remains an important foundation.

[Jaycoinz]

Trading without a source of income can be very risky but there are lots of traders that do this and they are profitable with their trades. This is something I wouldn't advice anyone to do, just like someone said trading isn't a full time job or a real job, it's a skill that requires capital to start but sometimes In the beginning phases you might incur some losses. What would you do if you lose all you have and end up having nothing to fall back to, this can be very risky because It can lead to frustration and depression. Work on building a source of income and use trading as a side hustle.

[lixer]

Base on your previous experience you lost it all in trading, and you still want to continue? you even have the courage to take a loan even though you don't have a source of income? are you digging your own grave here?
How about your expenses how would you cover it if you would only relay on your trading skills?
You're friend isn't wrong to suggest on finding a source of income first before jumping back into trading.

That is the questionable part, I mean if you do not make profit from trading, then you do not trade, not for an income at least. You could always trade when you have an income, because you can put some of it aside, and test with small amounts and learn to be better, study trading and hope to get better, that is totally understandable.

But when you have no income, and you are getting bad results, how are you going to get any money out of it? You could literally lose all you have, and in that case you won't be making any money at all, it just doesn't feel ok to me at all. I am pretty sure that we are going to be seeing this as a deal that won't be all that easy to handle, we should be looking into this as a way to get better without a doubt and should be considering how this could mean something more.

[Cointxz]

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.

Trading is a financial tool that needs capital to fund your trades so obviously you need a source of income if you want to trade since it’s the number required of trading.

Trading has a lot of risked involved so you will just putting yourself on debt trouble if seek loan which you don’t have source of income to pay for it in case your trades go south.

Follow your friend advice to find a decent job or source of income before you trade.

[CroverNo01]

Trading without a source of income can be very risky but there are lots of traders that do this and they are profitable with their trades. This is something I wouldn't advice anyone to do, just like someone said trading isn't a full time job or a real job, it's a skill that requires capital to start but sometimes In the beginning phases you might incur some losses. What would you do if you lose all you have and end up having nothing to fall back to, this can be very risky because It can lead to frustration and depression. Work on building a source of income and use trading as a side hustle.

Income is very important, it sustains us as man and we'll be having some good time having convenient results in the system. Trading without a source of income is risky, I will not advise anyone close to me to indulge in such act. What's the cause of trading without dependable income? It will only ruined the activities and life of the person in question. We have traders that solely depend on the market to feed, they've absolutely nothing outside there, they only depend on trades, what if they make losses that day? What will happen next? Where are the sources to look up to for funding and feeding? These criteria are important to look at before jumping into trades. Go out there and look for a good job before thinking about trading.

[Dewi Aries]

The first thing is that it is not recommended to get involved in trading if for example you do not have a fixed income like a regular job because you will not have money to meet your basic needs when you are experiencing a lot of losses, the second is borrowing money is really not recommended in this activity especially if for example you are a trader who still finds it difficult to control yourself and borrowing money can really increase your mental and psychological problems when it turns out that you experience losses again and not infrequently traders who eventually get into debt because they try to use loans as an alternative to meet their trading capital. This means that the advice given by your friend is completely correct which is better for you to first find a fixed income if for example you want to continue your involvement in trading, I hope you can follow this advice my friend because this is also for your own good.

[Dzwaafu11]

At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.

I cannot say trading is not for you since you are still in the learning process of trading; however, 13 to 1 (months) I feel like is enough time for you to be able to gain some profit from trading if you really learn the process and have the mentality to watch money fluctuating in the market. Although already you, she already makes weak points that you cannot control your emotions, which I believe regardless of how skilled and professional you are.

as long as you come to this space, you must be emotionally stable, although I understand nobody will have that mind, but as long as you are into trading, you must be aware of that. As for you, I will advise you to start using a small amount of money to trade to avoid such problems. Instead, use the money you cannot afford at Lowe’s.

[johnnyyash]

Firstly trade is all about loss and profit, it is not 100℅ say that you will always be in profit because can't really predict which way the trading will go and you might loose all of your money without a profit that means loss....there should always be other sources of income, so that even you don't make profit on a particular trade and loss money, you can still have what to fall back to as in other source of income....

[CageMabok]

One can trade more rationally and make less emotional decisions when his income is steady. During winning runs, many novices become overconfident, but the market could change at any time. Long-term success requires dedication, planning, and ongoing education. The best strategy is to balance trading with a reliable source of income.

This advice you put forward is very suitable for every trader and not only for beginners, although beginners should follow such things more so that they can have many wins through the trades they make. Because sudden market changes are quite valuable lessons for all traders, so every trader should not avoid a more mature strategy and planning for themselves continuously without feeling bored and tired.

[harapan]

Honestly, you can’t be trading or investing if you aren’t earning in the first place. Otherwise, you are breaking the very basic rule to trade or invest using your spare money, or using the amount you can afford to lose. If you do that, once you lose, it’s hard for you to get back into trading or investing again.

Exactly you can't be trading without having an income it'll definitely seem like a step without an action so having an income where you can afford to trade with it's better of other than using spare money that won't be coming in in most times.but in gambling you can use your spare money and as well your income but mostly trading requires you to have a steady income.

[Jody.Drummer]

One can trade more rationally and make less emotional decisions when his income is steady. During winning runs, many novices become overconfident, but the market could change at any time. Long-term success requires dedication, planning, and ongoing education. The best strategy is to balance trading with a reliable source of income.

This advice you put forward is very suitable for every trader and not only for beginners, although beginners should follow such things more so that they can have many wins through the trades they make. Because sudden market changes are quite valuable lessons for all traders, so every trader should not avoid a more mature strategy and planning for themselves continuously without feeling bored and tired.

Let's say we only have money that can be traded and that's the last money we have. The risk in trading is very big, so when we have to feel the loss and lose our last money, then it becomes a problem, while we have no income. So having a stable income is more advisable, because even though we might end up losing in trading, we still have other income. It might be different if it's a professional trader, but what I know is that someone who is successful will have many sources of income.