Is it okay to trade without a source of income?

[liasbaa]

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.

Having a steady source of income allows you to focus more on trading, and it is much harder to trade from a temporary source. To trade, you need to be ready to buy and sell at any time. There will be risk in short term trading, but how much risk I am financially tolerant of depends on your steady source of income.

It is possible to trade from additional funds, but this increases your risk level. The most useful is to trade through discretionary income. Use funds that you can afford to lose in trading.

[Crypto Library]

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.

There is a simple answer and a simple logic behind of this and that is the greed of those traders. Otherwise, I don't think a professional trader would ever borrow money to trade.
It's is also true that you will not make the profit every time sometimes we saw that even the big professional traders are also faced the losses but the things here is they can afford to lose that and as well they have that skill to recover the losses in the future.

[DYING_S0UL]

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.

There is a simple answer and a simple logic behind of this and that is the greed of those traders. Otherwise, I don't think a professional trader would ever borrow money to trade.
It's is also true that you will not make the profit every time sometimes we saw that even the big professional traders are also faced the losses but the things here is they can afford to lose that and as well they have that skill to recover the losses in the future.

Sometimes it to recover some of their previous loses, thinking they can make some quick bucks here and there, that they have found some foolproof stratagy, only to be drown in more debts. These kind of thoughts causes bigger loses. I guess some people don't know when to use. I would say, it rather seems more like gambling rather than trading. Because borrowing money from people and trading with it is dumb! You are already at loses and now you are borrowing again? Cmon man! I don't believe a professional trader would do such reckless thing, unless he isn't one or is over confident.

[I_Anime]

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 all boils down to your trading skill and how profitable you are there some folk at there that trading is their only source . And they are still doing fine without other sources.

But most time is good to have other source to avoid pressuring your account, which may lead to you losing your capital all the name of trying , to get rich fast because you have already have the mindset that trading is your only reliable sources when come  to surviving and stuff .

[G_Besar]

Having a steady source of income allows you to focus more on trading, and it is much harder to trade from a temporary source. To trade, you need to be ready to buy and sell at any time. There will be risk in short term trading, but how much risk I am financially tolerant of depends on your steady source of income.

It is possible to trade from additional funds, but this increases your risk level. The most useful is to trade through discretionary income. Use funds that you can afford to lose in trading.

Short-term trading isn't always bad if you know how and know the best time to do it. Trading doesn't have to be done daily, nor does it require spending excessive amounts of time in front of the monitor. The goal of trading is to maximize profits with minimal capital, which is what all traders do today. Therefore, short-term trading isn't necessarily bad; it actually carries slightly less risk than trading daily, even experiencing a decline in portfolio capital due to price corrections in the coins or tokens they hold.

[Wakate]

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Sometimes it to recover some of their previous loses, thinking they can make some quick bucks here and there, that they have found some foolproof stratagy, only to be drown in more debts. These kind of thoughts causes bigger loses. I guess some people don't know when to use. I would say, it rather seems more like gambling rather than trading. Because borrowing money from people and trading with it is dumb! You are already at loses and now you are borrowing again? Cmon man! I don't believe a professional trader would do such reckless thing, unless he isn't one or is over confident.

I don't really support the idea of borrowing to trade. Some traders that have been trading for couples of years might be good at this but I will never support this by anyway because I know the detriment of trading with funds that are not yours. If you have seen people doing this maybe on the social media, that's good luck to them and let them continue doing that. We might not know if they borrowed because they have investment somewhere they are waiting for it to mature before touching it. With this, they would not be hasten to trade everyday because they know the risk that can accompany that.

[Promocodeudo]

I don't really support the idea of borrowing to trade. Some traders that have been trading for couples of years might be good at this but I will never support this by anyway because I know the detriment of trading with funds that are not yours. If you have seen people doing this maybe on the social media, that's good luck to them and let them continue doing that. We might not know if they borrowed because they have investment somewhere they are waiting for it to mature before touching it. With this, they would not be hasten to trade everyday because they know the risk that can accompany that.

Since making profit in trading is not assured, of what gain will it be for anyone to borrow to trade, I think this is even a joke taking too far, sole person just want to Make money without considering the level of their risk, I know that there's risk in almost everything that involves making money but must people resort to foolishness in the name of risk sorry I might have used harsh words not on you or anyone but just a word to express how pissed i am with such thinking, have these people that think this way consider what will happen if they eventually lose the money thats not theirs in trading, I know that individuals have their decisions to make fine but we must try to advise them to the level that they won't try to make such mistakes, I know that people will say what if they win when they do this, yea, but the risk in this case is higher.

[nara1892]

If, for example, you don't have a primary source of income, it's recommended not to engage in trading. The reason? Obviously, trading is risky. The market is volatile and sometimes very aggressive. This means trading isn't just about profits, but also losses. Imagine needing money to meet your living expenses, but you experience losses in trading.

So, never engage in trading if you don't have a primary source of income. It's better to find a job first and then engage in trading. The purpose of having a primary income is to cover your living expenses so you can survive even if you experience losses in trading.

[Wakate]

I don't really support the idea of borrowing to trade. Some traders that have been trading for couples of years might be good at this but I will never support this by anyway because I know the detriment of trading with funds that are not yours. If you have seen people doing this maybe on the social media, that's good luck to them and let them continue doing that. We might not know if they borrowed because they have investment somewhere they are waiting for it to mature before touching it. With this, they would not be hasten to trade everyday because they know the risk that can accompany that.

Since making profit in trading is not assured, of what gain will it be for anyone to borrow to trade, I think this is even a joke taking too far, sole person just want to Make money without considering the level of their risk, I know that there's risk in almost everything that involves making money but must people resort to foolishness in the name of risk sorry I might have used harsh words not on you or anyone but just a word to express how pissed i am with such thinking, have these people that think this way consider what will happen if they eventually lose the money thats not theirs in trading, I know that individuals have their decisions to make fine but we must try to advise them to the level that they won't try to make such mistakes, I know that people will say what if they win when they do this, yea, but the risk in this case is higher.

Every trader has the level of risk they can take and when you see people taking risks, you don't have to question them because they might have a backup you might not be aware about. Trading require risk taking and if you can not to the risk to have a breakthrough in trading,you might end up losing or leaving the market for good.

I don't ask to many questions when I see people taking risks because no one knows what they might be capable of doing as a trader. You have your own risk limit while their are people or traders that their own risks strength might start from where your own started. So I don't compare people's opinions or the level of risk they are taking as traders.

[Crypto Library]

There is a simple answer and a simple logic behind of this and that is the greed of those traders. Otherwise, I don't think a professional trader would ever borrow money to trade.
It's is also true that you will not make the profit every time sometimes we saw that even the big professional traders are also faced the losses but the things here is they can afford to lose that and as well they have that skill to recover the losses in the future.

Sometimes it to recover some of their previous loses, thinking they can make some quick bucks here and there, that they have found some foolproof stratagy, only to be drown in more debts. These kind of thoughts causes bigger loses. I guess some people don't know when to use. I would say, it rather seems more like gambling rather than trading. Because borrowing money from people and trading with it is dumb! You are already at loses and now you are borrowing again? Cmon man! I don't believe a professional trader would do such reckless thing, unless he isn't one or is over confident.

Let me tell a story, a few years ago one of the closest person of mine was came to me and also to my another friend for knowing about the cryptocurrency and the trading on that time and also till now I don't try to learn the future trading but friend of mine has some experienced on future trading, And at that time, my close person was shown a $7 profit from 100$ by my friend in future trading .

Later, he got so greedy that he used a much larger amount than what he earns just to learn only futures trading and the result was what was supposed to happen, that he lost, but even then his greed did not decrease, rather, to recover the loss, he borrowed a few thousand dollars and then went to trade and lost them by getting the liquidity. Overall, if someone knows or does only futures trading or spot trading, with or without knowing trading analysis, then he needs to have a stable income and from that income, an amount that he can afford to lose should be used in trading, otherwise if he goes to trading by borrowing, then his life will fall into darkness.

[Fredomago]

If, for example, you don't have a primary source of income, it's recommended not to engage in trading. The reason? Obviously, trading is risky. The market is volatile and sometimes very aggressive. This means trading isn't just about profits, but also losses. Imagine needing money to meet your living expenses, but you experience losses in trading.

So, never engage in trading if you don't have a primary source of income. It's better to find a job first and then engage in trading. The purpose of having a primary income is to cover your living expenses so you can survive even if you experience losses in trading.

You might see yourself resorting to loaning money if the current position of your assets is in negative, it's tough to make a call if you don't have other resources as like what you mentioned trading is a risky venue for investment. There's no easy access to gain profits, each time you position your entry point there's possibility that the market may turned to the other side and lead you initial deposit to lose the original value.

[Crypto Library]

You might see yourself resorting to loaning money if the current position of your assets is in negative, it's tough to make a call if you don't have other resources as like what you mentioned trading is a risky venue for investment. There's no easy access to gain profits, each time you position your entry point there's possibility that the market may turned to the other side and lead you initial deposit to lose the original value.

In fact, we know that in the case of physical business, many times we have to face losses in business due to bad luck, while trading in crypto currency is more high risk but if you have proper skills, then the matter is different, but even though the matter is different, many times despite having proper skills, many big traders make mistakes in trading and face big losses. In this case, those persons whose assets are already negative value face even bigger problems.

In that case, if you do not have your own assets or income, then it is better not to trade there.

[DyvynFX]

Trying to trade for a living with no other income is like putting all your eggs in one basket while walking on a tightrope. The pressure will make you make scared decisions. It's a recipe for disaster.

The smarter move? Don't quit your day job. Use that income to cover your bills, and only trade with money you can afford to lose. First, learn to walk before you try to run.

[Baki202]

Short-term trading isn't always bad if you know how and know the best time to do it. Trading doesn't have to be done daily, nor does it require spending excessive amounts of time in front of the monitor. The goal of trading is to maximize profits with minimal capital, which is what all traders do today. Therefore, short-term trading isn't necessarily bad; it actually carries slightly less risk than trading daily, even experiencing a decline in portfolio capital due to price corrections in the coins or tokens they hold.

Everything is about how educated the person is when it comes to trading people should duel more on knowledge because without it there is nothing that can be done so it is better to acquire the knowledge to know what you are capable of doing and it is not every time that you will have to trade because there is no way that trading will go your own  way either.

And most times mistakes can even come from trading so how do you manage does processes because the only thing that can help is knowledge and experiences and that will come from constant trading. And when you use a minimal capital to build profits that's the only way that you can show prove if trading is actually in your favour or not so we need to always test if we are making progress or not because if you are not making profits then the best thing is to quite and maybe get more knowledge or even mentorship to see were the mistakes are coming from. And you learn and try to do better with what you have learn.

[Jatiluhung]

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.

Although I have an acquaintance who is a pure trader, earning his profits solely from trading, meaning his source of income is trading, he seems fine with the situation. He even served as my mentor at one point, gaining me valuable experience and insights. The problem is, he's been able to manage his emotions well. He also taught me the importance of emotional management and risk management in trading, all of which fall within the scope of understanding trading psychology and financial management. Without this, he once said that one will never achieve maximum results without a solid understanding of trading psychology and strict money management.

But I personally believe that having a job and earning money first is the best path before becoming a trader. Only when we have a source of income can we trade and invest with greater peace of mind. It's quite rare to achieve true success from trading alone. It only works for a few people, but for the majority, it's quite challenging.

[AmoreJaz]

You might see yourself resorting to loaning money if the current position of your assets is in negative, it's tough to make a call if you don't have other resources as like what you mentioned trading is a risky venue for investment. There's no easy access to gain profits, each time you position your entry point there's possibility that the market may turned to the other side and lead you initial deposit to lose the original value.

In fact, we know that in the case of physical business, many times we have to face losses in business due to bad luck, while trading in crypto currency is more high risk but if you have proper skills, then the matter is different, but even though the matter is different, many times despite having proper skills, many big traders make mistakes in trading and face big losses. In this case, those persons whose assets are already negative value face even bigger problems.

In that case, if you do not have your own assets or income, then it is better not to trade there.

It is very risky to trade if you have no source of income especially in crypto market. As you have no guarantee that you will always get the profit, you should have your reservation or you may expect worst like losing all your bankroll. This is trading and you still have no upper hand in this market, meaning, there's no guarantee that you will always have profit in every trade that you completed. So most traders actually have other income generating side hustles. You may do this as sole source of income if you are already financially stable and you know very well the market. In short, don't go full time if you are not yet financially capable.

[ancafe]

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.

The difference is that I am a trader with other sources of income, so even if I don't make consistent profits in trading, it doesn't affect my performance in life. This generally happens to anyone, and when they first learn about trading, they can certainly make a profit, but when they start trading consistently, they lose everything. This happens because we don't learn to trade properly and instead think that trading can be easily executed based solely on basic knowledge.

I have experienced difficult times in trading, which is why I now prefer investing, although I also trade occasionally for certain reasons. So, when you realize your trading skills are not good, there are two choices: quit or learn to broaden your knowledge of trading to improve to be better.

[God Of Thunder]

It is very risky to trade if you have no source of income especially in crypto market. As you have no guarantee that you will always get the profit, you should have your reservation or you may expect worst like losing all your bankroll.

Unfortunately, some people don't care about it. They ignore these facts, seeing social media influencers profit from trading. People feel like they will also make a profit, and this confidence leads them to start trading even without having a source of income. I myself tried trading without even learning how it works at the very beginning. I don't remember what happened, but I know that the only income I had at that time was my salary from my real-life job. I think I was motivated because I saw people make a lot of money, and they showed how easy it was. But in reality, you need knowledge and you must know risk management.

[Fredomago]

You might see yourself resorting to loaning money if the current position of your assets is in negative, it's tough to make a call if you don't have other resources as like what you mentioned trading is a risky venue for investment. There's no easy access to gain profits, each time you position your entry point there's possibility that the market may turned to the other side and lead you initial deposit to lose the original value.

In fact, we know that in the case of physical business, many times we have to face losses in business due to bad luck, while trading in crypto currency is more high risk but if you have proper skills, then the matter is different, but even though the matter is different, many times despite having proper skills, many big traders make mistakes in trading and face big losses. In this case, those persons whose assets are already negative value face even bigger problems.

In that case, if you do not have your own assets or income, then it is better not to trade there.

It is very risky to trade if you have no source of income especially in crypto market. As you have no guarantee that you will always get the profit, you should have your reservation or you may expect worst like losing all your bankroll.

With a high volatility nature of this venue, this can happen and without any other source you may lose everything without recovering your initail investment, it's always better to have other sidelines that may help you to keep your assets on hold and not to be alarmed if there's certain movements inside the market that not favoring your position.

Decision making is much clearer if patience can be apply as you have something to back you up financially.

[Crypto Library]

Unfortunately, some people don't care about it. They ignore these facts, seeing social media influencers profit from trading. People feel like they will also make a profit, and this confidence leads them to start trading even without having a source of income. I myself tried trading without even learning how it works at the very beginning. I don't remember what happened, but I know that the only income I had at that time was my salary from my real-life job. I think I was motivated because I saw people make a lot of money, and they showed how easy it was. But in reality, you need knowledge and you must know risk management.

If I talk about myself, I made all the mistakes I made in my newbie time. Of course, there is no cause like social media activity that is he a profit, but for this, a very close friend of mine influenced me. Moreover, I was added to a Telegram group where a professional trader's suggestion also helped me to made my mistakes on that day. 


I also think that the latent greed hidden in my mind was also responsible for it, and after fully understanding these things, I don't really go into trading, but currently most of my investments are long-term and focused on bitcoin because here I know that no matter how bad the market is, the market will recover again and achieve new all-time high prices again in the bull season.