Is it okay to trade without a source of income?

[nara1892]

That was a mistake I made when I was first learning about trading and just starting out with real money. You understand how difficult it is to learn everything about trading, especially market analysis. It's incredibly difficult, and that's what led me to try trading by relying on predictions from other people in groups or channels.

Initially, I was profitable, but over time, the results changed drastically. The average result per session was a loss, and it even led to me experiencing a trading loss. After evaluating it, it's true, as you said, that there's absolutely no guarantee of profit, regardless of whoever's predictions we follow. Now, I prefer to trade independently according to my abilities and knowledge.

It is the right choice, as you gather your own experience, and you can learn from there to develop your trading skills. Copying the trades of other traders does not guarantee that we will continue to make profits.
It is very incorrect to say that it does not require actual trading knowledge. Traders can indeed copy trades from other traders, but without knowledge or experience, it might be like you are betting based solely on the speculation of others. No wonder many novice traders see trading as gambling.

Yes, after experiencing that, I realized that the best strategy is the one we create ourselves. I also realized that a strategy that works for others might not work for us. From there, I began to realize that I had to create my own strategy based on the learning I'd done and the knowledge I'd gained through the learning process.
On the other hand, I also learned that every successful trader has their own unique formula, and that's why they consistently generate profits.

It's not really a problem to copy another trader's strategy, but my advice is to evaluate or correct it before executing it. I usually do this when I occasionally trade using someone else's strategy. When I feel confident, I execute it, or vice versa.

[Ricardo11]

Before engaging in or diving into the world of trading, we should have a real and stable income. I believe trading is not suitable and not recommended as a primary source of income. The risk of loss is certainly present, but it can be minimized with good skills and knowledge. Furthermore, it's also crucial to have an emergency fund when entering this field. If you only have a certain amount of money but no steady income, it's best not to trade. It's best to trade when you have a steady income, including investments.

Trading requires capital to start and steady source of income to sustain the trader who may not be lucky in trading all the time so for a trader who doesn't have other sources of income aside trading it will not be good since there could be loss during trading and you need to fund your account to continue trading. With knowledge in trading you have less issues with loss but it is not a guarantee that you will always be at profit, to enjoy trading you should not take it as a main source of income and having back up funds to sustain you should be considered first before going into trading.

When considering the first stage of trading, in the first stage, a person has to face a huge amount of losses, and he has to accept all those losses and have the mentality of learning more trading from each loss.
He has to gain more skill from each loss, and in this way he will be able to gain skill at some stage. I have seen many people who have given up trading, they have moved away from it after losing a little money in the first stage.
Actually it is harder than expected, in the first stage you have to lose money as an investment to gain skill in trading, that is, all the losses that will happen at first, that are not losses but deep knowledge that you are gaining by buying.
Those who can learn trading with this mentality, they will definitely be able to succeed, and for this it is mandatory to have a strong source of income.

[Odusko]

How do you accumulate your trading capital without a source of income in the first place, trading to start with requires a lot of money and for that reason, anyone who is set out to trade should have an extra cash flow to cover up for all the losses that comes along with it this is important to the extent that not having enough capital will end you in debt and depression if you failed to achieve your aim.

[Franctoshi]

In fact, the honest truth is, do not attempt or start trading without a stable source of income, especially when you're a beginner in trading, you definitely will lose money to an extent that no matter how much wealth you saved up, you likely gonna blow it up and still will require more money to trade, and secondly, when you have a source of income, you will trade with lesser emotions because you will not get too much worried when you lose money about where the next money is going to come from.

[Inwestour]

In fact, the honest truth is, do not attempt or start trading without a stable source of income, especially when you're a beginner in trading, you definitely will lose money to an extent that no matter how much wealth you saved up, you likely gonna blow it up and still will require more money to trade, and secondly, when you have a source of income, you will trade with lesser emotions because you will not get too much worried when you lose money about where the next money is going to come from.

Trading should be focused on making a profit, and losses should be acceptable only if you are testing a new strategy, but you should not spend a lot of money on it. The main source of income that you had before you started trading should be saved, because you will not be able to understand how good you are at trading until you start. And you will not be able to start earning without experience, and this may take a lot of time, so there are some risks. And then, if you want, you can combine work and trading, but you can decide this later on your own, because the profit from trading may not be stable.

[ChocolateBitcoinK]

How do you accumulate your trading capital without a source of income in the first place, trading to start with requires a lot of money and for that reason, anyone who is set out to trade should have an extra cash flow to cover up for all the losses that comes along with it this is important to the extent that not having enough capital will end you in debt and depression if you failed to achieve your aim.

I agree with you, starting trading without a steady source of income can be a big risk, because if you don't have any source of income, a small loss can be a cause of stress and frustration. Before entering trading, it is important to ensure your financial status and ability to tolerate risk, and for this, it is important to first create your own source of income, many experienced people in trading face losses, and in that place, if a new trader enters trading without any source of income, and when he faces losses, how can he accept these losses? Because he has no source of income, so this matter is important to prepare from the beginning, you have to prepare your mentality and financial status accordingly, so that you can easily accept your losses and gain more knowledge from those losses.

[icebar]

In fact, the honest truth is, do not attempt or start trading without a stable source of income, especially when you're a beginner in trading, you definitely will lose money to an extent that no matter how much wealth you saved up, you likely gonna blow it up and still will require more money to trade, and secondly, when you have a source of income, you will trade with lesser emotions because you will not get too much worried when you lose money about where the next money is going to come from.

In trading there is a great possibility for earning, but one should stay away from the plan of depending only on trading. Trading does not provide any chance of guaranteed income. The trader must have some other source of income and should consider trading as an additional earning opportunity along with that income. Sometimes there can be profit or loss from trading. For this reason, one should reduce his dependence on that money. Why do those who trade without a stable source of income face disaster at some point? In trading, the trader sometimes has to take big risks. If there is no stable income, then the gambler will refuse to take risks. He has to face mental pressure.

[beveryu778]

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.

If you do not have a source of income, then how will you manage funds for trading? At that time, you may have to borrow to manage trading funds or sell some of your assets and manage that money. However, I do not agree with either of these two things. Because borrowing to trade is very risky, and if you trade by selling an asset, then in that case you will never get a guarantee that you will be able to make a good profit from trading that can replace your relationship. For this reason, I think that you should never trade if you do not have a separate internet source. To become an expert in trading, you must continue trading for a long time and if you are not financially strong, you will never be able to afford it.

[Roseline492]

I agree with you, starting trading without a steady source of income can be a big risk, because if you don't have any source of income, a small loss can be a cause of stress and frustration. Before entering trading, it is important to ensure your financial status and ability to tolerate risk, and for this, it is important to first create your own source of income, many experienced people in trading face losses, and in that place, if a new trader enters trading without any source of income, and when he faces losses, how can he accept these losses? Because he has no source of income, so this matter is important to prepare from the beginning, you have to prepare your mentality and financial status accordingly, so that you can easily accept your losses and gain more knowledge from those losses.

Without any source of income means everything they're using for the trading is the only thing they have got or remaining just a little that cannot be use to solve any small challenges on there lives, so actually it will be very risky because anything that happens will bring the person under there kneels in terms of having nothing for the daily affairs of there lives, is good to want to breakout from from always just having little all the time but is important that doing it shouldn't be the only money that has been left for the person especially when it has to do with trading that's always mostly losses it gives.

[Wakate]

In fact, the honest truth is, do not attempt or start trading without a stable source of income, especially when you're a beginner in trading, you definitely will lose money to an extent that no matter how much wealth you saved up, you likely gonna blow it up and still will require more money to trade, and secondly, when you have a source of income, you will trade with lesser emotions because you will not get too much worried when you lose money about where the next money is going to come from.

I can't just imagine someone starting to trade without a source of income. Is the person going to steal to get money to trade or that would be done with the help of friends around giving him loans?

I don't think any experienced trade in the market would ever advise a newbie to go borrow money to trade when their is no assurance that such money would bring profit. Taking a loan to trade is even risky especially to someone that don't have the experience of a profitable trader.

[GiftedMAN]

In fact, the honest truth is, do not attempt or start trading without a stable source of income, especially when you're a beginner in trading, you definitely will lose money to an extent that no matter how much wealth you saved up, you likely gonna blow it up and still will require more money to trade, and secondly, when you have a source of income, you will trade with lesser emotions because you will not get too much worried when you lose money about where the next money is going to come from.

There is no magic to change things in trading where no source of income will be required to trade with infact trading with a small amount scares you say from entering the market very well so having a good stable source of income is advised for every trader whether a beginner or old trader. Having a good source of income will help the trader to be positive knowing that he has something to back up if he loses his trade but if there is no source of income it becomes tiring and frustrating most times.

[Bd officer]

If you do not have a source of income, then how will you manage funds for trading? At that time, you may have to borrow to manage trading funds or sell some of your assets and manage that money. However, I do not agree with either of these two things. Because borrowing to trade is very risky, and if you trade by selling an asset, then in that case you will never get a guarantee that you will be able to make a good profit from trading that can replace your relationship. For this reason, I think that you should never trade if you do not have a separate internet source. To become an expert in trading, you must continue trading for a long time and if you are not financially strong, you will never be able to afford it.

In fact, newbies rush to make a profit after gaining some knowledge about trading, so they plan to borrow if they don't have enough money. Now the decision to trade with a loan can never be a good decision. And if trading was so easy then everyone would have become rich by trading, but many have lost money and become destitute.

So I want to say more, suppose someone starts trading by borrowing money, but if there is a loss in trading, how will he repay his loan? But if one has any source of income then he can start again even if he faces loss. Therefore, there should be good sources of income and also one can trade if one wants but should not use more money than one can afford to lose.

[Oshio-man]

How do you accumulate your trading capital without a source of income in the first place, trading to start with requires a lot of money and for that reason, anyone who is set out to trade should have an extra cash flow to cover up for all the losses that comes along with it this is important to the extent that not having enough capital will end you in debt and depression if you failed to achieve your aim.

Source of income will help you to accumulate capital, to establish other businesses that will make your crypto income to be stable whenever you want to trade in the bullish season, and if you look at those that started their trading without source of income in crypto trading, they find it difficult to make progress like those that lack source of income in crypto trading to achieve their dreams,  That is why professional traders continue to advicing newbies not to trade what they can't avoid to lose in trading, but those that have source of income will not be in hurry to join trading without thinking of having source of income because the source of income will not make you to break down in half way in the investment.

[Joy- maker]

First of all it is not advisable to chase after your losses in trading talk more of going to go take loan to chase after your losses, instead you will in-depth yourself the more and to me it makes no sense whereby you are getting yourself in-depth the more. Trading is very risky in an twinkle of an eye all your money is gone, that's why it is advisable to trade with the money you can afford to lose to avoid chasing after your losses, because it will not end well for you when you are chasing after your losses in trading.

[Lanatsa]

That was a mistake I made when I was first learning about trading and just starting out with real money. You understand how difficult it is to learn everything about trading, especially market analysis. It's incredibly difficult, and that's what led me to try trading by relying on predictions from other people in groups or channels.

Initially, I was profitable, but over time, the results changed drastically. The average result per session was a loss, and it even led to me experiencing a trading loss. After evaluating it, it's true, as you said, that there's absolutely no guarantee of profit, regardless of whoever's predictions we follow. Now, I prefer to trade independently according to my abilities and knowledge.

It is the right choice, as you gather your own experience, and you can learn from there to develop your trading skills. Copying the trades of other traders does not guarantee that we will continue to make profits.
It is very incorrect to say that it does not require actual trading knowledge. Traders can indeed copy trades from other traders, but without knowledge or experience, it might be like you are betting based solely on the speculation of others. No wonder many novice traders see trading as gambling.

Yes, after experiencing that, I realized that the best strategy is the one we create ourselves. I also realized that a strategy that works for others might not work for us. From there, I began to realize that I had to create my own strategy based on the learning I'd done and the knowledge I'd gained through the learning process.
On the other hand, I also learned that every successful trader has their own unique formula, and that's why they consistently generate profits.

It's not really a problem to copy another trader's strategy, but my advice is to evaluate or correct it before executing it. I usually do this when I occasionally trade using someone else's strategy. When I feel confident, I execute it, or vice versa.

With that edge slowly forming the view of the market starts to change instead of chasing every move or every hype there’s more patience in waiting for setups that match the plan and even sitting on the sidelines feels like part of the strategy because not trading is also a decision the wins may still come and go but the difference is in the control over losses keeping them small and manageable so the account can survive long term.

As more time passes the experience adds layers to the strategy little tweaks here and there based on what worked and what didn’t until it becomes something unique and natural and even though the market will always be unpredictable the trader no longer feels lost because there’s a framework to follow and confidence grows with each session the journey is long but that’s where real progress lives in showing up every day learning from mistakes and building a style that no one can take away.

[Gaza13]

The source of income is where the money for the investment is going to come from. This shows how important it is to have a source of income before thinking about trading because there is no way that everything can be balanced when you don't have an inflow of money. This shows how important it's going to be to have a source of income, and even if the most important thing is the capital, the most important thing is going to be the upkeep. Because when you don't have a source of income or even emergency funds, how do you keep up with everything that is going on? because you cannot enjoy your trading without having money.

Before engaging in or diving into the world of trading, we should have a real and stable income. I believe trading is not suitable and not recommended as a primary source of income. The risk of loss is certainly present, but it can be minimized with good skills and knowledge. Furthermore, it's also crucial to have an emergency fund when entering this field. If you only have a certain amount of money but no steady income, it's best not to trade. It's best to trade when you have a steady income, including investments.

It is indeed very dangerous if someone does not have a stable income, it will affect all of their daily needs. Financial uncertainty can cause excessive stress, anxiety, and emotional distress, which can ultimately negatively impact decision making. Even to cover needs, a person may be forced to use emergency funds or even go into debt, which actually worsens their financial condition.

Yes, it is true that most people find this job very difficult to conquer. It requires extra sacrifice to achieve the success we desire. What we must pay attention to is not to be too brutal in trading. It's a good idea to record every mistake and win we make and act responsibly.This way, we can see how far we've improved in our trading.

[Awaklara]

First of all it is not advisable to chase after your losses in trading talk more of going to go take loan to chase after your losses, instead you will in-depth yourself the more and to me it makes no sense whereby you are getting yourself in-depth the more. Trading is very risky in an twinkle of an eye all your money is gone, that's why it is advisable to trade with the money you can afford to lose to avoid chasing after your losses, because it will not end well for you when you are chasing after your losses in trading.

Anyone who trades certainly wants a profit. When you incur losses in trading, of course, you have a desire to make a profit in the next trade. However, the problem is the stability of the trader's emotions that needs to be maintained.
It's not a matter of whether the trader has skills, when a trader's emotions are highly focused on generating profit because of previous losses, what usually happens is mistakes in analysis. Especially if you don't have a source of income, you should stop trading and seek a viable source of income for trading capital.

[RockBell]

How do you accumulate your trading capital without a source of income in the first place, trading to start with requires a lot of money and for that reason, anyone who is set out to trade should have an extra cash flow to cover up for all the losses that comes along with it this is important to the extent that not having enough capital will end you in debt and depression if you failed to achieve your aim.

There is no way that you will be able to trade when there is no capital that the first thing that we should consider even before knowledge because knowledge is something that people can have access to any time but funds have to come from somewhere so and this is how important the source of income is because I love the question you asked were do the source of income comes from.

And when you have a in flow of cash doesn't make it easy for anyone investing because when you have money you will comfortably be able to invest without much challenge because one of the major challenges people face is money because when you don't have money then you  wont be able to keep up.

[Ojima-ojo]

First of all it is not advisable to chase after your losses in trading talk more of going to go take loan to chase after your losses, instead you will in-depth yourself the more and to me it makes no sense whereby you are getting yourself in-depth the more. Trading is very risky in an twinkle of an eye all your money is gone, that's why it is advisable to trade with the money you can afford to lose to avoid chasing after your losses, because it will not end well for you when you are chasing after your losses in trading.

I wondered why some people take too much risks for nothing, because trading is already a risk on it own, now taking loan Which is another risk to add up to your trading risks this becomes a suicide mission if you ask me, since traders have been known for recorded loses that is why we advice that you only trade with a small amount of money.


Unless if you are an experienced trader's that is when you can be advised to use higher amount of money from your own savings and not to take loans just to fund your trading activities.

[beveryu778]

First of all it is not advisable to chase after your losses in trading talk more of going to go take loan to chase after your losses, instead you will in-depth yourself the more and to me it makes no sense whereby you are getting yourself in-depth the more. Trading is very risky in an twinkle of an eye all your money is gone, that's why it is advisable to trade with the money you can afford to lose to avoid chasing after your losses, because it will not end well for you when you are chasing after your losses in trading.

Anyone who trades certainly wants a profit. When you incur losses in trading, of course, you have a desire to make a profit in the next trade. However, the problem is the stability of the trader's emotions that needs to be maintained.
It's not a matter of whether the trader has skills, when a trader's emotions are highly focused on generating profit because of previous losses, what usually happens is mistakes in analysis. Especially if you don't have a source of income, you should stop trading and seek a viable source of income for trading capital.

No one does trading for fun, everyone who trades does it for profit. But there is one thing here, which is that some people become addicted to trading because they are very excited and want to make profits very quickly, while some traders trade patiently. Those who trade patiently have relatively good results. Knowing that it is not a matter of trading risk, one should not trade even if they do not have a good source of income because the loss of trading will hurt him mentally. This is because he will be very afraid of loss. And those who have different sources of income will not be afraid of seeing losses, so they can trade patiently. For this, those who are rich and have multiple sources of income can earn more money, and the poor always remain poor.