Is it okay to trade without a source of income?

[Wakate]

Trading is capable of making you rich and poor at that same time, it all depends on how you take utilize what is made available to you...An emotional trader will always end up losing, trading is even more dangerous than gambling when you decide to start chasing with it...people who profit from trading are those that are strategic, patient and disciplined...chasing after your losses inst really a good idea

To be honest in trading we must have to be a source of income otherwise where do we find the investment fund either we have to take loan or invest the fund for security. And that is violating the general term of trading that invest as much as you can afford to lose.

Anyway,  trading is not that easy to do first of we have to learn the analysis skill then we have to try them on demo versions of trading then we have to find out where is our mistakes and also keep avoid to do that again. And then the final part is jump into trading with real money and at this case we should have the source of income in the beginning.

I don't see any reason why a trader would go as far as collecting loans so they can trade some useless coins that will end up in severe loses. There are some decisions we don't have to take as traders because making profits from the crypto market isn't guaranteed.
You can attempt to trade today and make small profit and try the same attempt tomorrow and lose everything. Nothing is certain as traders which is why getting a loan or borrowing money from people around can still put you in severe problem when you don't want to fix your mistakes and what is responsible for your loses. It is quite understandable when you try to fix the problem than for you to be chasing profitability.

[junder]

Considering that trading carries certain risks, it's probably best to pursue it when you have a steady income, sufficient for everything, such as meeting your needs or even having extra funds to spend on anything. For some people who have been in the business for a while, they may have already determined and allocated funds for trading from their income, but for others, this may not be the case. Trading without an income is permissible, but the risks are greater.

[ChocolateBitcoinK]

Considering that trading carries certain risks, it's probably best to pursue it when you have a steady income, sufficient for everything, such as meeting your needs or even having extra funds to spend on anything. For some people who have been in the business for a while, they may have already determined and allocated funds for trading from their income, but for others, this may not be the case. Trading without an income is permissible, but the risks are greater.

Trading is a risky place, there is always a possibility of big losses, so you have to be able to accept these losses, and that is why having a source of income is very important in trading, but for those who have an unstable source of income or no source at all, trading becomes much more dangerous, because when they face losses in trading, they will face financial problems due to their losses, because they will have no money left, and if they have borrowed that money, their problems will be even bigger, because they cannot afford to repay that loan, because they have no source of income. So these things must be taken into consideration, trading cannot be done only by thinking about profits, you must also be aware of the possible losses here and take effective steps for this and then trade.

[Inwestour]

Considering that trading carries certain risks, it's probably best to pursue it when you have a steady income, sufficient for everything, such as meeting your needs or even having extra funds to spend on anything. For some people who have been in the business for a while, they may have already determined and allocated funds for trading from their income, but for others, this may not be the case. Trading without an income is permissible, but the risks are greater.

Trading implies that you will earn money from it, but it will not be right away, because trading, like any other business, requires that you understand it well and understand how the market works. Therefore, especially at the first stages, you should have either another source of income or good savings that will help you survive without another source of income. And no matter how sad it may sound, you should assume that training may remain for you a business that will not bring profit, because it is difficult and there are very strong traders who can beat you.

[Lida93]

Considering that trading carries certain risks, it's probably best to pursue it when you have a steady income, sufficient for everything, such as meeting your needs or even having extra funds to spend on anything. For some people who have been in the business for a while, they may have already determined and allocated funds for trading from their income, but for others, this may not be the case. Trading without an income is permissible, but the risks are greater.

Trading implies that you will earn money from it, but it will not be right away, because trading, like any other business, requires that you understand it well and understand how the market works. Therefore, especially at the first stages, you should have either another source of income or good savings that will help you survive without another source of income. And no matter how sad it may sound, you should assume that training may remain for you a business that will not bring profit, because it is difficult and there are very strong traders who can beat you.

. Before a person would decide to take a loan for trading he should first of all ask himself this few simple relevant questions and if the answers are No, then he/she should understand that it's not right an idea to take a loan for crypto trading.

Questions:
1. Are you in charge of the market?
2. Are you 100% guaranteed of making profit in trading?
3. Can you afford to lose that loan money?

It's for the person to get a job or find other dependable means of income and from it they can remove some percentage aside that theycan be using for trading as an addition side hustle instead. You would become a better trader this way than when you use loan money.

[Out of mind]

If you are a new trader, you must learn at first, and then your job is to control yourself and not be emotional. Since you have learned about trading, you can start it gradually with a small amount of money so that you do not break down if you lose. If you face a large amount of loss, you can definitely use the stop loss method, this will help you reduce your risk. To trade, you need to gain maximum experience, the more you learn, the less your losses will be. If you trade, you must collect an alternative fund, many times you will face losses, it is normal. Moreover, if you do not have any source of income, then do not trade, if you have money, then you will definitely not be able to control yourself.

[junder]

Trading is a risky place, there is always a possibility of big losses, so you have to be able to accept these losses, and that is why having a source of income is very important in trading, but for those who have an unstable source of income or no source at all, trading becomes much more dangerous, because when they face losses in trading, they will face financial problems due to their losses, because they will have no money left, and if they have borrowed that money, their problems will be even bigger, because they cannot afford to repay that loan, because they have no source of income. So these things must be taken into consideration, trading cannot be done only by thinking about profits, you must also be aware of the possible losses here and take effective steps for this and then trade.

Not only in trading, but also to survive, we need a steady income to meet our daily needs. After all, living without a steady income is impossible. Everyone strives for comfort in life, and one way to achieve that is by having a steady income. I personally believe this is feasible for those with stable finances, just like saving by having a steady income and setting it aside. Not everyone has income that can be set aside for savings or trading.

[Ahli38]

If you are a new trader, you must learn at first, and then your job is to control yourself and not be emotional. Since you have learned about trading, you can start it gradually with a small amount of money so that you do not break down if you lose. If you face a large amount of loss, you can definitely use the stop loss method, this will help you reduce your risk. To trade, you need to gain maximum experience, the more you learn, the less your losses will be. If you trade, you must collect an alternative fund, many times you will face losses, it is normal. Moreover, if you do not have any source of income, then do not trade, if you have money, then you will definitely not be able to control yourself.

Yes, you're right. New traders should learn about all the risks they will face in trading. And they need to prepare the risk management. So I think preparing reserve funds is part of risk management. If a trader experiences a loss they can use their reserve funds as a backup. And a source of income is needed as their mainstay, where it can be obtained through a steady job or even a business that is relatively stable in generating income. So part of this income can be saved as reserve funds for trading purposes. A trader may be able to trade without a source of income if they already have capital. But it is unwise to prepare for the risk of a trader losing or even losing a large amount of capital. Therefore a trader should still have a source of income in order to overcome any risks that may arise. And I assume this source of income is the solution to the problem of self-control which may occur in trading.

[Emitdama]

Not only in trading, but also to survive, we need a steady income to meet our daily needs. After all, living without a steady income is impossible. Everyone strives for comfort in life, and one way to achieve that is by having a steady income. I personally believe this is feasible for those with stable finances, just like saving by having a steady income and setting it aside. Not everyone has income that can be set aside for savings or trading.

Steady income will balance our financial lives but there are people who like to live a risk life. Instead of going for steady income, they would look for quick profits or higher incomes even though it is risky.

These people might end up being out of the box but might also ruin their financial well-being. Steady income is really important because it will help us plan future accordingly. Everyone has expenses. These expenses needs to be well planned before we can even start spending our earnings and we can only plan these expenses if we have a steady income and know how much exactly we are going to earn.

Without a steady income, we might have to struggle everyday and try to meet our financial goals. Things will be really difficult if you are the bread-winner and have no steady income.

[Awaklara]

Not only in trading, but also to survive, we need a steady income to meet our daily needs. After all, living without a steady income is impossible. Everyone strives for comfort in life, and one way to achieve that is by having a steady income. I personally believe this is feasible for those with stable finances, just like saving by having a steady income and setting it aside. Not everyone has income that can be set aside for savings or trading.

Everyone must be aware of their capabilities. If the finances they have are only enough to cover daily living expenses, it is certainly not suitable for trading. However, it may be possible with greater effort by saving a little money and accumulating it to become capital for trade. But when the losses are incurred, their hard work will become worthless. The level of risk is too high for people with low income or even those who do not have any source of income.

[rachael9385]

It's a no no to take loans to trade with same thing with gambling, we must have the capacity to refrain ourselves from having the urge to keep at it in a way that we become pressured to trade by all means to the extent of taking a loan for that reason.


Trading is good to be done with money that you may afford to lock down for a long period of time without any demands for it or growing interest, all that can't be gotten with borrowed funds.

Both are very dangerous to take loans, some people think that just because they are skillful traders it would be always be way be easy for them to make profit, this is the reason why they get overconfident to borrow loans to trade but this is dangerous because we can't always predict that market. Like you said, trading is done with that money you own so Incase you lose it you won't be in debt to anybody

[laspol65]

It's a no no to take loans to trade with same thing with gambling, we must have the capacity to refrain ourselves from having the urge to keep at it in a way that we become pressured to trade by all means to the extent of taking a loan for that reason.


Trading is good to be done with money that you may afford to lock down for a long period of time without any demands for it or growing interest, all that can't be gotten with borrowed funds.

Both are very dangerous to take loans, some people think that just because they are skillful traders it would be always be way be easy for them to make profit, this is the reason why they get overconfident to borrow loans to trade but this is dangerous because we can't always predict that market. Like you said, trading is done with that money you own so Incase you lose it you won't be in debt to anybody

Investing is much easier and less risky than trading, but if it is Bitcoin investment then it is definitely easier and a suitable step to take to eliminate financial shortages in the future. It is best to do it as an owner of money, because if you borrow money and trade or invest, then to repay the loan, you must pay it even if you lose enough on your investment or trading.
So loans never bring good results, I prefer investing over trading.

[Futurexxx]

. Before a person would decide to take a loan for trading he should first of all ask himself this few simple relevant questions and if the answers are No, then he/she should understand that it's not right an idea to take a loan for crypto trading.

Questions:
1. Are you in charge of the market?
2. Are you 100% guaranteed of making profit in trading?
3. Can you afford to lose that loan money?

It's for the person to get a job or find other dependable means of income and from it they can remove some percentage aside that theycan be using for trading as an addition side hustle instead. You would become a better trader this way than when you use loan money.

Yes you are very correct here, and we both share the same sentiment here,  anyone that thinks of taking a loan to trade with really don't know how trading works, because the first thing you will  be taught in Trading is, trade with an amount you can afford to lose, and if I may ask, can you afford to lose the money borrowed ?
If no, then you shouldn't be thinking of taking such risk in the first place, because you are definitely going to panic anytime the trade goes against you, and in Trading once you can't control your emotions, you are bound for more losses.
All my time trading the crypto market, I have come to understand that anytime you trade under pressure you are bound to lose money, so taking a loan with the intention of tradng with it is a very bad idea in my own opinion.
So having another source of income is a must if you really want to be successful in your trading career, in order not to be too dependent on trading.

[bettercrypto]

Trading is capable of making you rich and poor at that same time, it all depends on how you take utilize what is made available to you...An emotional trader will always end up losing, trading is even more dangerous than gambling when you decide to start chasing with it...people who profit from trading are those that are strategic, patient and disciplined...chasing after your losses inst really a good idea

To be honest in trading we must have to be a source of income otherwise where do we find the investment fund either we have to take loan or invest the fund for security. And that is violating the general term of trading that invest as much as you can afford to lose.

Anyway,  trading is not that easy to do first of we have to learn the analysis skill then we have to try them on demo versions of trading then we have to find out where is our mistakes and also keep avoid to do that again. And then the final part is jump into trading with real money and at this case we should have the source of income in the beginning.

I don't see any reason why a trader would go as far as collecting loans so they can trade some useless coins that will end up in severe loses. There are some decisions we don't have to take as traders because making profits from the crypto market isn't guaranteed.
You can attempt to trade today and make small profit and try the same attempt tomorrow and lose everything. Nothing is certain as traders which is why getting a loan or borrowing money from people around can still put you in severe problem when you don't want to fix your mistakes and what is responsible for your loses. It is quite understandable when you try to fix the problem than for you to be chasing profitability.

In that case, we really can’t stop them, especially if they’re determined to borrow money. Now, if it were me who’s going to borrow, I’m pretty sure I’d just use it to buy Bitcoin though
I’d make sure I’m capable of paying back what I borrowed. At least the money I borrowed would be allocated toward Bitcoin.

But if you don’t have any other source of income, even if you use it to buy Bitcoin, for sure you’ll end up spending it little by little until the Bitcoin you bought is gone so in the end,
it still becomes useless.

[Wakate]

Trading implies that you will earn money from it, but it will not be right away, because trading, like any other business, requires that you understand it well and understand how the market works. Therefore, especially at the first stages, you should have either another source of income or good savings that will help you survive without another source of income. And no matter how sad it may sound, you should assume that training may remain for you a business that will not bring profit, because it is difficult and there are very strong traders who can beat you.

. Before a person would decide to take a loan for trading he should first of all ask himself this few simple relevant questions and if the answers are No, then he/she should understand that it's not right an idea to take a loan for crypto trading.

Questions:
1. Are you in charge of the market?
2. Are you 100% guaranteed of making profit in trading?
3. Can you afford to lose that loan money?

It's for the person to get a job or find other dependable means of income and from it they can remove some percentage aside that theycan be using for trading as an addition side hustle instead. You would become a better trader this way than when you use loan money.

Trading without source of income could make a trader to become desperate to make money from the  market and this can create unnecessary pressure to make quick money by all means. The market is not even 80% guaranteed that a trader is going to make profits before we can even analyze the probability of having 100% chances of making money.

Nothing is easy these days and we need to be prepared when looking for means to make money from trading. The price of Bitcoin keeps fluctuating anyhow and even when you try to predict the market, you might be shocked to see different movements from the one you have speculated. Good traders don't rush to trade knowing that the next minutes might mean something different.

[ndutndut]

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.

No. It's best not to trade without an income, as trading without income can negatively impact your emotional well-being when making decisions. When you trade without income, you naturally expect quick profits to generate income. In other words, you desperately hope for profits from trading and even want to make trading a source of income.

Without income it's best not to trade even if you've been learning for a while especially with a loan this is even riskier. You've made two mistakes first, you're trading without income, and second, you're trading using borrowed money. It's best to follow your friend's advice, as it's good advice for you.

[Gaza13]

It's a no no to take loans to trade with same thing with gambling, we must have the capacity to refrain ourselves from having the urge to keep at it in a way that we become pressured to trade by all means to the extent of taking a loan for that reason.

Trading is good to be done with money that you may afford to lock down for a long period of time without any demands for it or growing interest, all that can't be gotten with borrowed funds.

Taking out a loan for trading is very risky, and it's not a good solution for us. We understand that trading itself carries a very high level of risk because market movements are very difficult to predict with certainty. If you insist on using a loan, this will only create new problems for the individual, whether it is a loss in trading or financially disruptive. It's best to use your own capital that you're prepared to lose and not force yourself to trade with other funds, such as borrowed funds.

[Rockstarguy]

Considering that trading carries certain risks, it's probably best to pursue it when you have a steady income, sufficient for everything, such as meeting your needs or even having extra funds to spend on anything. For some people who have been in the business for a while, they may have already determined and allocated funds for trading from their income, but for others, this may not be the case. Trading without an income is permissible, but the risks are greater.

It is very risky because making a profit in trading can't be predicted, and you are not sure what the amount of gain will be at the end of every trading exercise. Trading without a source of income means that one is completely dependent on trading as a source of income and also relying on trading profits to fund the trading as well.

This is a very difficult task because, without a source of income, you will always depend on trading from day to day. It is not just possible to achieve this; there must be a backup plan because the trading market is unpredictable.

[Altryist]

It is very risky because making a profit in trading can't be predicted, and you are not sure what the amount of gain will be at the end of every trading exercise. Trading without a source of income means that one is completely dependent on trading as a source of income and also relying on trading profits to fund the trading as well.

This is a very difficult task because, without a source of income, you will always depend on trading from day to day. It is not just possible to achieve this; there must be a backup plan because the trading market is unpredictable.

You can always combine trading with a job, especially when you are just starting trading and don’t know whether you will be able to make money or not. In my opinion, it is better not to start with day trading, because it is the most difficult type of trading, and even the most experienced traders often trade at a loss in it. I would recommend starting with swing trading for a beginner. And since this type of trading may not bring profit immediately, you should have a stable source of income.

[lizarder]

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.

It is generally experienced by any traders, especially for those who are new to trading and when all capital runs out will make the traders think to recover their capital quickly using any method and in the end they again suffered losses. Traders are not that simple because without the support of strong capital will make it difficult for someone to survive in this industry and almost no successful traders only rely on small capital. I have also experienced the same problem where the loss of all the capital that has been collected in some previous trading and the peak at one moment of capital runs out due to a stop loss.

If you want to be successful in trading it may take a long time because we will become better prepared to face everything when experiencing experience or increasing knowledge. The most important thing is how to survive is not how much profit we get when involved in trading because most people actually give up because they always get losses when trading.