Is it okay to trade without a source of income?

[Mehmet69]

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.

It is very risky to enter into trading without a stable source of income. Trading is risky in itself but if you do not have a stable income and cannot control your emotions then trading can be very bad in the future. Trading with a loan from someone is a really bad habit. Because there is no guarantee that you will be able to profit from trading today by borrowing from someone. Almost everyone has faced huge losses by trading with a loan.

It is better to trade with the amount of money that you think you do not need. For example, if you earn $ 100 per month and have $ 10 after excluding all your personal expenses, family expenses, try trading with $ 10 .

[Koadharber]

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.

It is very risky to enter into trading without a stable source of income. Trading is risky in itself but if you do not have a stable income and cannot control your emotions then trading can be very bad in the future. Trading with a loan from someone is a really bad habit. Because there is no guarantee that you will be able to profit from trading today by borrowing from someone. Almost everyone has faced huge losses by trading with a loan.

It is better to trade with the amount of money that you think you do not need. For example, if you earn $ 100 per month and have $ 10 after excluding all your personal expenses, family expenses, try trading with $ 10 .

Actually it is really just that a normal thing or something which is on default on which you would really be needing up that source of income before you can be able to find yourself that be able to make trades. You cant really just that be able to proceed without any funds on which you can really that make it sure. There's no way that you can be able to make a move when you dont have the budget. Source of income is what we do really need up because this is where we do get our capital. If you have decided to start up to trade but if you dont really have any jobs, then you would really be that ending up on taking up a loan on which this one is really that not recommended at all. It will really be that better that you should really be that thinking up on whatever the actions that you would really be that taking rather than on making out directly. Source of income doesnt only give out that trading capital but also this will be that in default on which its needed for us to be able to survive on day to day living because if you dont have the money then what you would be gonna use when you are really that having no source of income? This is why we can really say that this is something which is really that in default.

[kawetsriyanto]

Trading without any source of income could lead to a bigger problem and make a trader to be more emotional about the market because the fear or losing will be there which could make them lose more in the market because risky trades they supposed to take that will result to profit might be ignored. Trading without a source of income is a big error and we should all stop that if we are always doing that often.

How someone can have enough capital for trading if he has no source of income? To have the money for daily needs, someone must have source of income, right? I see it is a bit non-sense if there is no source of income. Unless you are professional traders, you can't rely on trading. Even a professional trader, I think there is still also no guarantee for profits any time. So, it is needed to have another source of income that can make sure our financial.

Trading without source of income can affect our trade and make us lose more money with time because of fear of losing trades.

Theoretically, it doesn't influence the chance to get profits in trading. However, there is always a possibility to get a lose. But if we have proper knowledge in trading, it can increase the chance to get profits.

[Oluwa-btc]

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.

Let’s say that trading is quite likely the same with gambling, your outcomes will still be uncertain. That’s why you have to prepare for it, and trade only using your extra money so that if you lose, that won’t trouble you a lot because you only spend an amount that you are comfortable of losing.

One thing I've noticed is that there's pressure in making money and the best way people think of is striving in the trading field;they take trading as a means of survival and that's a psychological misconception they've assimilated.
Successful trading requires finances to afford mentorship,educative and knowledgeable tips that'll enforce a lasting progress so,nobody should trade while been broke.

[uneng]

Trading without any source of income could lead to a bigger problem and make a trader to be more emotional about the market because the fear or losing will be there which could make them lose more in the market because risky trades they supposed to take that will result to profit might be ignored. Trading without a source of income is a big error and we should all stop that if we are always doing that often.
Trading without source of income can affect our trade and make us lose more money with time because of fear of losing trades.

It's true. Someone who doesn't have a source of income must be really concerned and worried about his financial life and future, as instability is everywhere. Trading isn't the answer on that situation and may represent just a desperate move from the individual in an attempt to achieve the source of income he has been looking for. However, it's not that simple with trading, as there isn't any assurance he is going to be successful on this endeavour.

Many traders (I risk saying overwhelming majority of them) end losing funds on long term, just like in gambling. So, what we mostly see on the internet about traders making millions and changing their lives overnight has more of marketing and propaganda than real numbers which can be reproduced by traders in potential.

For everyone lacking source of income, the first thing to do is to seek for a job opportunity, doesn't matter if it pays low. At least from the moment you have a job on, things will start stabilizing in life, so it will be possible to draw further goals to be accomplished futurely.

[Ishicryptic]

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.

Let’s say that trading is quite likely the same with gambling, your outcomes will still be uncertain. That’s why you have to prepare for it, and trade only using your extra money so that if you lose, that won’t trouble you a lot because you only spend an amount that you are comfortable of losing.

One thing I've noticed is that there's pressure in making money and the best way people think of is striving in the trading field;they take trading as a means of survival and that's a psychological misconception they've assimilated.
Successful trading requires finances to afford mentorship,educative and knowledgeable tips that'll enforce a lasting progress so,nobody should trade while been broke.

Crypto trading and investment are not for broke and jobless people, both requires going into with money from discretionary funds, if you don't have a job or you are broke you cannot have discretionary funds. Bitcoin is a volatile asset and you need to hold for a long term to be profitable, if you don't have money to survive you can sell prematurely at a loss when financial needs arises. Trading is risky and you can lose all your money in a very short time, if you don't have any money left to fund your trading, then it is not worth it. Trade as an alternative source of income so profits will be a plus for you, also you can get over loses because you don't depend on it to survive.

[finaleshot2016]

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.

That's true, you shouldn't risk a money that isn't from you because at the end of the day if you can't control your emotions again and lose all of that money, you'll gonna borrow again or what? You'll face problems such as paying it and having more loans in the future.

Also, in reality, no one is a skilled trader, even if you know the fundamentals, there's no a skilled trader that could gain profit especially if he just learned it for 1 year or more. It also came from yourself that you're emotional when it comes to trading which is considered as a skill for controlling emotions, to have risk managements. The unwritten rule of this world is never borrowing a money if you don't have a sustainable plan or you'll just risk to another 50-50 situation.

[Lanatsa]

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.

That's true, you shouldn't risk a money that isn't from you because at the end of the day if you can't control your emotions again and lose all of that money, you'll gonna borrow again or what? You'll face problems such as paying it and having more loans in the future.

Also, in reality, no one is a skilled trader, even if you know the fundamentals, there's no a skilled trader that could gain profit especially if he just learned it for 1 year or more. It also came from yourself that you're emotional when it comes to trading which is considered as a skill for controlling emotions, to have risk managements. The unwritten rule of this world is never borrowing a money if you don't have a sustainable plan or you'll just risk to another 50-50 situation.

When you are dealing up with trading then always make use of the mount on which this is something that you can afford to lose even if we do say that you are doing or making some allocation with this just for you to have that chances on trying out to change up your life on which this is actually true. There are just that those times or moments that people had been that too delusional when it comes into this aspect on which it will be that resulting up with that kind of desperation at the moment that they do make out some trades. In the talks about trading without having that enough funding and trying to take up some loan then this will be that a very not recommended thing to do so because using up some funds for you to have capital on trading which it will be giving out that kind of emotional reactions and instability because you know that these amounts are needed up to be that protected because this isnt something that you had been owned.

If you are planning to deal up with trading then make it sure that you do have that source of income on which you can somewhat assure that you are that be able to support or funded up your trading career.
Never ever put up into your mind that you've become that trying out to take up some loan or borrowing into those funds that you are trying out to make use of it for you to trade.
Just like been said that on the moment that you do make use of the amount on which are supposed not to be used of because it was not part of the budget or allocation then it will be bringing
out that kind of impulsiveness and that would be leading up into those conditions on where you cant be able to think up well and cant be able to make up good decisions.

[Floxynice]

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.

Maybe you should go back to trading without an additional source of income and wait till you are financially, physically, and mentally drained before you realise on your own that trading without an additional source of income, especially for a semi-skilled trader like you, is not advisable.

You already have the solution to your financial problems. Do the right thing now that you still can and save yourself the stress of emotional torture. Your friend is right; take his advice. Even a non-trader would know this from common sense.

[batang_bitcoin]

Maybe you should go back to trading without an additional source of income and wait till you are financially, physically, and mentally drained before you realise on your own that trading without an additional source of income, especially for a semi-skilled trader like you, is not advisable.

It is not advisable for everyone to trade without a source of income. It's hard to enter this market without having funds to back you up so that you can still stand up when you fell and losses all of your trades. The longest thread that someone has in trading, mostly the ones that stays and that's why if you don't have any source of income, it will be a bad omen for someone who looks forward to trade. And as for saying that they're semi-skilled, they should know and assess the risk that they're taking because without such, they know what they are dealing with.

[MarjorieZimmermanGinger]

It is not advisable for everyone to trade without a source of income. It's hard to enter this market without having funds to back you up so that you can still stand up when you fell and losses all of your trades. The longest thread that someone has in trading, mostly the ones that stays and that's why if you don't have any source of income, it will be a bad omen for someone who looks forward to trade. And as for saying that they're semi-skilled, they should know and assess the risk that they're taking because without such, they know what they are dealing with.

Trading does not guarantee profits all the time and not having a source of income will make someone stop trading after getting a loss in the previous trade. Even people who have a source of income find it difficult to engage in trading without good knowledge, especially if someone does not have any source of income to minimize losses in previous trades. Apart from not being recommended, it is probably more appropriate not to trade without any other source of income and it is better to engage in investment only.

[CageMabok]

Trading does not guarantee profits all the time and not having a source of income will make someone stop trading after getting a loss in the previous trade. Even people who have a source of income find it difficult to engage in trading without good knowledge, especially if someone does not have any source of income to minimize losses in previous trades. Apart from not being recommended, it is probably more appropriate not to trade without any other source of income and it is better to engage in investment only.

People who do not have a source of income, let alone trading, investing can also be quite difficult because for those whose source of income is only enough for daily living needs, they will not be able to run any investment at this time even though investments can be made in fairly small amounts. But in terms of investment, it also takes time and a more consistent level so that there are better results in the future, but of course that cannot be done by those who only have the ability to fill their stomachs every day because their capital is only enough for that, not for investment or trading.

[DannyKhalifa]

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 will start by saying that if you consider yourself semi-skilled trader, then you got the answer right there already.
Getting into loans and trying to flip that money into more to pay the loan off and have some profits on the side is gonna put a lot of pressure to you my friend, unless the loan can be paid over a long period of time.
You don't want to rush into it.
For making sure you're not giving away your profits or getting into huge losses, start using stop losses or at least manual stop loss, close the trade in a loss and find another opportunity. Sometimes this is the best decision.

However, trading while you are busy working in another industry, is going to be tough.
You're competing with someone who is full time trading, meanwhile you're focusing on catching 2 rabbits, there are people who will try catching only 1. And what I mean is by not doing 10 jobs at the same time but do 1 in a proper way.

So if you are struggling now with funds to start trading, get into demo trading prove yourself that it's worth putting money down and start saving money for your journey! Don't get into loans, it might end up really bad and if it does, it will mess things up over a long period of time.. You need to pay it back then make more to start it again..

[batang_bitcoin]

It is not advisable for everyone to trade without a source of income. It's hard to enter this market without having funds to back you up so that you can still stand up when you fell and losses all of your trades. The longest thread that someone has in trading, mostly the ones that stays and that's why if you don't have any source of income, it will be a bad omen for someone who looks forward to trade. And as for saying that they're semi-skilled, they should know and assess the risk that they're taking because without such, they know what they are dealing with.

Trading does not guarantee profits all the time and not having a source of income will make someone stop trading after getting a loss in the previous trade. Even people who have a source of income find it difficult to engage in trading without good knowledge, especially if someone does not have any source of income to minimize losses in previous trades. Apart from not being recommended, it is probably more appropriate not to trade without any other source of income and it is better to engage in investment only.

So, start out finding a source first to sustain trading. But only continue trading when you've got to learn how it goes and the risk that it bears. Because someone who enters it for the very first time even with a lot of funds, they'll mostly burn it into experience and will decide whether to proceed or not. Trading is not for the fainted heart while it is rewarding in the end but it requires a lot of experiences, heartbreaks and failures. And if someone cannot stand with those at the beginning, then it only means that they are not for it and they should just stick to holding.

[Cpt_reader]

It is often impossible to trade or make a living from trading without any other source of income. Trading is completely uncertain. You have to be prepared to lose as much as you trade, which means that income from trading alone is uncertain, and you must have additional sources of income. It is also uncertain whether you will make a profit immediately from trading, and you may have to wait a long time.

[MarjorieZimmermanGinger]

People who do not have a source of income, let alone trading, investing can also be quite difficult because for those whose source of income is only enough for daily living needs, they will not be able to run any investment at this time even though investments can be made in fairly small amounts. But in terms of investment, it also takes time and a more consistent level so that there are better results in the future, but of course that cannot be done by those who only have the ability to fill their stomachs every day because their capital is only enough for that, not for investment or trading.

To meet the needs of life is difficult, then how can they trade in crypto. This will be a fundamental question because someone who does not have a fixed income will definitely have difficulty getting involved in trading or investing. I describe my view of investment because it is much easier and more practical to rely on small capital compared to trading which may require slightly larger costs. That is different from the study of profit even though we know it takes a process and capital to run it too, but because in the condition of someone who does not have a fixed income, trading will be much less ideal to run.

[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.

You are new to trading, and you don’t have the knowledge of trading, and yet still you want to continue trading with this same mentality. Why not? You find a way to leave trading for now and then focus on developing your skills and emotions in trading before you even talk about how to get money to trade again, because if you think it is okay to continue, then definitely you will keep losing in trading because you can’t trade without being emotional, okay? This means you will be working with greed and think of taking every single opportunity, which will not favour you.

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.

What if we said you should invest and then later did not work as you wish? You can see that it will not define how you want. One thing I will advise you right now is that you should find a source of income before getting into crypto. Regardless of what you want to do, whether investment or trading, you need a source of income before you start. Don’t think of taking a loan to trade; your risk is going to be even higher than those who have the knowledge of trading.

[Hammer_Summer]

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.

Honestly trading without a stable income puts too much pressure on you emotionally and that’s probably making things worse, We have seen on social media many people burn out the same manner, Taking a break to create a source of income and study more deeply could help you come back stronger and more stable. It’s not quitting it’s just preparing better.

[CageMabok]

To meet the needs of life is difficult, then how can they trade in crypto. This will be a fundamental question because someone who does not have a fixed income will definitely have difficulty getting involved in trading or investing. I describe my view of investment because it is much easier and more practical to rely on small capital compared to trading which may require slightly larger costs. That is different from the study of profit even though we know it takes a process and capital to run it too, but because in the condition of someone who does not have a fixed income, trading will be much less ideal to run.

I quite understand what you said, but when I reflect on the lives of some people who do not have a fixed income, they are actually not more reminded of investment when they occasionally have money from certain jobs that are ordered by others. That is why I emphasize more on having a permanent job so that there is a little convenience in running investments and also trading with amounts that may not be too large for them. And you can also see for yourself the conditions of people who do not have a fixed income, they will definitely be more reminded of other things than things like investment which basically still require patience in waiting for the results.

[btckenzo]

Honestly, you should only be trading with money you can afford to lose. Taking out a loan for trading is a high-risk move, especially in your situation.

If you’re constantly trading with emotions, that’s a huge red flag. It doesn’t mean there’s something wrong with you – it just means active trading might not be your thing, and there’s absolutely no shame in that. There are plenty of other ways to participate in the market, like simply hodling or exploring other investment methods.

Bottom line: If you’re feeling emotional every time the market moves, you either need to learn how to control that (preferably with strategies that don’t risk your financial health), or focus on earning and investing money that you’re genuinely okay with losing.

-kenzo