Is it okay to trade without a source of income?

[DiMarxist]

I will say yes because trading is not like investment that you will be waiting for a long time to make profit. There is day trading and minutes and hours trading and if you're an expert of trading them there is no need for you to wait for extra income before trading. Just look for capital and start the trading.
The risk there is not f you loss the capital which you have used to start the trading where will you have another capital to start again. But I still stand on the ground that one can start trading without a constant income but it is good you have it foe emergency and backup.

[milewilda]

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.

Just to think off sensibly or realistically on which you cant be able to trade up if you dont have the capital. So the main question on here is on where you would be getting up that capital? Of course it will be coming from your day job salary or some part of it, not unless if you do have other sources like inheritance or some savings on which you can make use of when trying out to get some capital. The only issue on here is that on the time that we do deal up with trading then we are that likely on losing up soo much money since we are just that still a noob. Its always been that better that you should be that wary about the probabilities or chances so that you do have the idea on what you should gonna do. Is it okay to trade without source of income? It will be just that up to you on how you would be doing it but pretty much sure that it will be that not easy because we do know that trading skills isnt something that you can learn in a short time and pretty much sure that you would be spending up some amounts and if you cant be able to sustain then you would be just that simply be stopping without even having the chance on learning it throughly since you dont have anymore capital for you to make use of. Somehow we do know that we can make use of the amount on which it isnt that big or simply you can start with demo if you are that really tight with budget or you dont have much money to make use of some capital. If you are just that trying out to go all in with real funds despite of being a complete noob then you are just that definitely putting up yourself at risks on busting up that huge amount. Is it okay to trade? As long you can sustain then you should be fine but for sure you will be able to feel out that shortage at the time that you cant be able to sustain anymore because you dont have that much capital left.

[gunhell16]

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.

You can trade even if you don't have a stable source of income if you're just starting out, because I started out like that, I was just doing sideline work at that time, then I worked part-time as a helper at a market and a salesman at a store in exchange for a small amount of money that was paid to me.

I endured all that just to have an income, even if it was small, and some of the portion of my income I put into trading worth 10$ as a practice while I was still studying before this,
as long as I didn't stop or give up. But my patience paid off.

[armanda90]

I read fully about OP problem getting loan for trading in cryptocurrency without any source of income way, I don't good ideas how possibility for loan payment one day later without have source of income when market position unpredictable or drop to lower price. Quite high risk when trading in cryptocurrency by getting loan but you don't have back up fund from any source income way if market crash and deadline of loan payment interest.
Firstly, trading always have risk and manage its not easily and taking loan make your self at high pressure position if market going drop, not matter how much your experienced in cryptocurrency trading before having permanent job better not try getting loan for cryptocurrency trading capital. I learned more from successful businessman most of them take loans for only 20% of their total assets. How come for someone taking loan for trading without a source of income?

[JeffBrad12]

I will say yes because trading is not like investment that you will be waiting for a long time to make profit. There is day trading and minutes and hours trading and if you're an expert of trading them there is no need for you to wait for extra income before trading. Just look for capital and start the trading.
The risk there is not f you loss the capital which you have used to start the trading where will you have another capital to start again. But I still stand on the ground that one can start trading without a constant income but it is good you have it foe emergency and backup.

Exactly, the source of income acts like a safety net, which is to ensure we won't go broke if we messed up with trading and trust me messing up with trade happens quite frequently.
If OP is really profitable in his trading, even without an income you can make a living. I've seen plenty of people who are really good at trading, they ditched their job and switch into trading full time and has been generating good profit but they're like outlier.
Basically a genius among noobs like most of us.
For OP, see the profitability rate of your trades first.

[God Of Thunder]

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.

Taking loans for trading and gambling is the same thing. Basically, you are gambling when you are out of control. If you cannot control your emotions, you will end up losing your money. How confident are you in your skills that you want to take a loan? Are you sure that you won't lose the money that you are taking as a loan? What if you end up losing that money as well? How would you repay the amount without having an income source?

I have a kind of stable income as of now, yet I do not trade because I feel like I am not an expert enough to risk my money on trading. You should have a job or develop some skills that will help you earn money. Only then can you decide if you want to trade or not.

[MarjorieZimmermanGinger]

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.

If you understand a situation like this, it is much better because out there people often think outside the expectations of the activities they are doing and in a much worse scenario, it does not solve the problem but adds new problems. Not having a steady source of income will interfere with someone's productive thinking because it can be psychologically difficult to focus and it will be very problematic in such conditions that we are involved in trading. What needs to be fixed first is the issue of income so that someone can focus more on pursuing financial freedom from the investment or trading process.

[tvplus006]

I will say yes because trading is not like investment that you will be waiting for a long time to make profit. There is day trading and minutes and hours trading and if you're an expert of trading them there is no need for you to wait for extra income before trading. Just look for capital and start the trading. ..

You have contradictory conclusions. If a trader borrows money to make a profit, he must have sufficient successful trading experience so that he can not only return the borrowed funds, but also make a profit for himself. But if he resorts to a loan, it means that his previous trading experience was unsuccessful and he could not make a profit sufficient for further trading with his capital.

[TheUltraElite]

I will say yes because trading is not like investment that you will be waiting for a long time to make profit.

Trading needs capital to start. Where is that going to come from? Not loans of course because that itself is a risk added on top of trading. Then the option is savings and inheritance which are usually enough to get started once but cannot sustain unless the trading is giving your constant income, which is never the case.

If it is so easy to make money from trading people will do only trading and no work. Hence a steady income source is necessary to move on with trading as a side earning - it might not work out which is fine, but it might earn you something nice too.

In my opinion, it is thus illogical to trade without a source of income.

[CageMabok]

If you understand a situation like this, it is much better because out there people often think outside the expectations of the activities they are doing and in a much worse scenario, it does not solve the problem but adds new problems. Not having a steady source of income will interfere with someone's productive thinking because it can be psychologically difficult to focus and it will be very problematic in such conditions that we are involved in trading. What needs to be fixed first is the issue of income so that someone can focus more on pursuing financial freedom from the investment or trading process.

Basic income is something that cannot be forgotten because from that side everyone can arrange their own way to do more things, be it trading or investing because every job always requires more consistent focus so that it can continue to be done in the long term. Because from the many examples that I have seen in life, actually starting a new job is not that difficult as long as there is an intention from each individual, but what is more difficult is to persist more consistently in that job when the level of income itself is still uncertain like in trading and investment jobs.

[Altryist]

You can trade even if you don't have a stable source of income if you're just starting out, because I started out like that, I was just doing sideline work at that time, then I worked part-time as a helper at a market and a salesman at a store in exchange for a small amount of money that was paid to me.

I endured all that just to have an income, even if it was small, and some of the portion of my income I put into trading worth 10$ as a practice while I was still studying before this,
as long as I didn't stop or give up. But my patience paid off.

At first it is always difficult, we have to sacrifice something to create capital that we can manage, this applies not only to trading but to any business. And then someone will say that you are lucky and will want to borrow money from you because you have achieved success. But those who live for today and do not think about saving will never understand those who acted differently. Trading, by the way, should also be safe, no futures, only spot trading, and trading should bring profit, if this does not happen even after a year, then it is worth thinking about finding another more profitable business.

[DanWalker]

You can trade even if you don't have a stable source of income if you're just starting out, because I started out like that, I was just doing sideline work at that time, then I worked part-time as a helper at a market and a salesman at a store in exchange for a small amount of money that was paid to me.

I endured all that just to have an income, even if it was small, and some of the portion of my income I put into trading worth 10$ as a practice while I was still studying before this,
as long as I didn't stop or give up. But my patience paid off.

I agree with you that we don't need to wait until we have a stable income to start thinking about investing or trading, but we need a source of income to cover our daily expenses as well as capital to trade.

I appreciate what you do and your efforts. But OP's case is different, he doesn't have any source of income and is planning to borrow money to trade. So I think he should not start trading until he has a job and income, regardless of whether it is stable or not. Never borrow money to trade, it is not the way to start as trading is very risky.

[MarjorieZimmermanGinger]

Basic income is something that cannot be forgotten because from that side everyone can arrange their own way to do more things, be it trading or investing because every job always requires more consistent focus so that it can continue to be done in the long term. Because from the many examples that I have seen in life, actually starting a new job is not that difficult as long as there is an intention from each individual, but what is more difficult is to persist more consistently in that job when the level of income itself is still uncertain like in trading and investment jobs.

To achieve the consistency stage in trade is not as easy as imagined because we will experience several challenges when experiencing losses in a row and in these conditions will make it difficult for someone to appear consistent in trade. That is why I say it is much better to be involved in investment and someone can reach limits to start in a much better way where it will be much easier to make adjustments to the income we get from work. Income is indeed important as a driving force for someone to be involved in investment or trade because it is difficult to be consistent if we do not have fixed income.

[Fivestar4everMVP]

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.

What your friend adviced you is very true and you need to accept it, first of all...

Never borrow money to invest in crypto currency, and also never borrow money to invest in trading, this is even worst than boorrowing to invest in crypto, this is highly risky..

And even though trading can become a good source of income, you still have to train yourself in it and become very good, and to achieve this, you need money and time, so if you don't have any source of income at this very moment, you have to get one, start of a business or get employed in a job and raise money from there, this money can help you to stay focus in trading until you become very good with it.

You have to take things easy with your self, give time to learning and trust me, in the end, you will be happy with yourself, your friends advice is very good I must say.

[Mpamaegbu]

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.

That's just the point. With additional income from elsewhere it reduces pressure and makes one a bit relaxed. I've been there before and I know how pressure destroys trading plans. If you solely depend on trading gains to foot your bills, you will become irrational in your trading decisions; getting in trades while you're supposed to be off trades, and over trading. Until one becomes profitable, it's a bad idea not to have other source(s) of income while starting up as a trader.

[DiMarxist]

The best advice any good trader will advise you is to find something doing. Yes, the possibilities of you trading with your emotions are very high if you trade without an income. Because, you would want to make a living out of trade and that alone can make you unprofitable, because you emotion will be too involved.
The best advice is look for something to do just like your friend has advised you. Because my brother trading is not for the weak. Trading is an investment and should be treated as such. The moment you try bring your financial baggage to the market you would most likely become greedy in it.

[Futurexxx]

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.

Their is a saying in my locality that says that he who ask for direction, will never miss his way, you did the right thing to ask buddy, trading when you have no source of income is a terrible idea because all your hopes will be in making money through trading, which will eventually makes you to start trading desperately, because it's your only source of making a living, so in other to have the ability to trade without any pressure, you need another source of income so that you wouldn't be in the market all the time.
Take note that the lesser trade you take, the more your chances of winning, taking too many trades is the brain behind almost all the losses of traders in the market.
Furthermore, try all your possible best to avoid borrowing money to trade, because it's brings an added pressure to you, and in the process you might loss everything.

[harapan]

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.

You're on the right track and the good thing is you've been advised rightly about trading cause you can't go into a full time trading without any source of income. You can't just keep trading with your emotions when you can spice it up with an income inorder to be profitable but regardless getting a loan from someone can possibly put you on pressure and fear but clearly having a source of income will lessen that and give you a balanced state of mind.

[AGogi2003]

The best advice any good trader will advise you is to find something doing. Yes, the possibilities of you trading with your emotions are very high if you trade without an income. Because, you would want to make a living out of trade and that alone can make you unprofitable, because you emotion will be too involved.
The best advice is look for something to do just like your friend has advised you. Because my brother trading is not for the weak. Trading is an investment and should be treated as such. The moment you try bring your financial baggage to the market you would most likely become greedy in it.

You are right, any trader will always told you to find a source of income before you focus on trading, because any traders know the risk involves so you need to have a steady income before you can start taking the risk. If you trade without getting a steady income I don't really sure you will succeed on your trading journey, because you will definitely lose. Trading is unpredictable and you can't sure if you will get profit when u stake. So to enjoy trading you should get something doing, and he can make you understand trading more better and get more experiences, because when you trade and you lose, you won't used the same method anymore you will try another strategy and you will be getting more knowledge about it, and all before you can understand trading very well you need to have money to spend on, before you can achieve your goals.

[Jegileman]

I will say yes because trading is not like investment that you will be waiting for a long time to make profit. There is day trading and minutes and hours trading and if you're an expert of trading them there is no need for you to wait for extra income before trading. Just look for capital and start the trading.
The risk there is not f you loss the capital which you have used to start the trading where will you have another capital to start again. But I still stand on the ground that one can start trading without a constant income but it is good you have it foe emergency and backup.

If you’re using that as the main reason to why traders to just start trading, then many traders wouldn’t have gone far in general quest to becoming profitable in trading. Trading is not a like a business that you need constant flow of income but yet you need to also know that trading while having a constant flow of income will help you into not making decisions that will harm your trade especially when you’re already getting it right. If you have no other source of income while trading, you can become aggressive with your trade and want to risk more to win big because if you don’t, you may not have enough to withdraw and still get to trade again. Having a source of income while trading is important, it reduces how much risk you take and be patient with your trade as it plays out gradually instead of over trading for quick profit.