Don't Go Full-Time Trading If You're Broke, Here's Why.

[Dechris_08]

Here’s something I learned the hard way and want to put out there.

If you’re struggling financially, don’t go full-time trading yet.

Don’t adopt a trading or nothing mindset.

That mindset doesn’t make you focused.

It makes you desperate.

And desperation turns trading into misery.

Have something that pays the bills.

Anything.

When your survival isn’t tied to every trade, you stop operating from lack.

This is one of the real reasons so many people lose money in this space and then conclude trading is gambling.

Not because their strategy is trash.
Not because they can't trade.

It’s because they’re loaded with expectations.

They need the market to save them. They need wins now. They need every trade to mean something.

And the market doesn’t care. It doesn’t just test your strategy. It tests your emotional stability.

If you can’t detach your livelihood from your P&L, the market will expose that weakness fast.

[boyptc]

The aspiring traders think that when they're broke, it's the solution to their problem and that's to go full time in trading.

But that's what they are taking it wrongly, what they need to do is to make sure that they're going to survive and they're not wholly broke.

Because it will require them finances to continue their desire to become full time trading. I won't be against with doing that for as long as they can sustain it.

[FirmWars]

Based on what I'm seeing now as a trend on social media, most scammers are deceiving the beginners, they make them believe that they can become rich through trading without doing any other job, that's why some newbies are so determined to be like their internet mentor. Most of those internet mentors are just content makers that got promotion offers from brokers, they are hired to promote a broker and from there, they starts to tell false stories that would convince some beginners. Other beginners in my country who fall victims to it have realized themselves and are into jobs, they will go back to trading later.

[programmer3666]

For a broke person!, trading fulltime will surely add that mental and emotional pressure and constant fear. Because you will be so desperate for every trade to be a win and that's just not going to happen because you win some and losesome, that emotion takes over the mind will just drive you to make so many mistakes in the market. So, clearly having another source of income helps you trade calmly and think clearly. The market won’t save anyone!! All it does is to reward patience and emotional control, not desperation.

[Coyster]

Why would you even trade when you are broke, that means you are trading with more than you can afford to lose and that does not always end well, you know. That said, trading should never be a full-time job for anyone, you cannot rest your survival and sustenance on trading, that is a recipe or strategy to go hungry.

Quite a of people go on social media, watching people flaunting wealth and expensive lifestyle, claiming it was from trading. Many times it is false, but people who aren't aware enter the market with that mindset of getting rich and they get rekt instead.

[Bobrox]

Your points actually is true, trading in cryptocurrency not promising with profitable always and its right decision don't make trading as full time job if you’re struggling financially. Firstly if this position happening to all trader must make trading as side job only and improving the financial condition having main job and make trading as side job only. If some one get struggling with financial condition and push trading in cryptocurrency as full time job I believe can't manage well when the market crash how happening last few days ago, its difficult to manage well to earn much profit during market not stable yet and have order get huge correction price drastically.

In my opinion make trading as side job but after your financial better its not problem make trading as full time job when the market not stable you have back up fund.

[Japinat]

Going on full-time trading is good if you have stabilized already your emergency funds and you have stable income that pays you regularly, and of course if you are knowledgeable and skillful on what you are doing.

However, going full-time trading is a wrong move if you are totally broke, because that will only pressure yourself to make consistent profits when we all know that's quite impossible with trading. And once emotions rule over you mind, you will lost focus and trading won't be the same anymore. It's hard to trade when you are doing it to satisfy your emotions, not to satisfy your pocket.

[BitMaxz]

Well, emotion contributes a lot to your trading decisions. If you can't control your emotions, you might end up trading without thinking, losing much in a single trade, or you might end up overtrading, which turns your positive profit into a huge negative profit.

I experience those things, and emotion is very important when learning trading. I've tried the free or paper money to trade, but it didn't affect my emotions. I feel nothing; that's why I tried even a small amount to trade. This time I have emotion when trading; I experience almost all the mistakes that other traders do. Even though I know those mistakes and learn from free courses and from other traders in groups, I still end up experiencing the same thing.
The good thing is if you experience those things related to your emotions, you will never forget them, and next time the same scenario happens again, you will know how to counter them or how to avoid them.

Newbies should never go full-time without experience. I am confident if they want to experience those emotional trades that can break their trading decision, they should go with a small amount first to deposit and experience those things until they become profitable. You don't need to be financially stable; I think you just need a small amount that you can use to play trading for a long time, learn the risk management, and challenge yourself not to spend it fast in trading. Don't deposit too much, and keep your margin low to make sure your SL won't be too tight when trading.
Don't go with scalping because that's the dangerous thing; if you directly trade live, then the amount you deposit can be lose in an instant in one day. I suggest learning swing trading first and using that as an advantage to scalp if you know the trend structure.

[Mrbluntzy]

If a broke person use their common sense, they should know that the risk in trading will not allow them to suddenly become successful and fully independent off other sources of income. Before someone can really become so profitable in trading, they must have lost a lot money before they can finally figure something out, if at all. Some many traders still end up giving up, those that have common sense would probably have a plan B to fall back at, while some doesn't.

[Alphakilo]

A broke person can also be someone that has money but somehow did a wrong investment or made a wrong move and thus find themselves in that situation. There might just be hope and if such a person already learns trading or has the knowledge and has had a few experiences with live trading, then it is way easier to enter the market at specific times or revisit old theories that could help one when they start earning again.
Some traders I used to know learnt how to trade while doing a 9-5 job and only became more expert when they quit and focused abit on trading before finding a better job that has what they need.

[logfiles]

Not just full-time trading, but one should not trade at all if they have no money or if they can not afford to lose the money they are going to use. This includes borrowing money or getting loans to trade. It will massively affect one's emotional aspect of trading and that will be the beginning of a big mess.

[gibrab16]

Here’s something I learned the hard way and want to put out there.

If you’re struggling financially, don’t go full-time trading yet.

Don’t adopt a trading or nothing mindset.

That mindset doesn’t make you focused.

It makes you desperate.

And desperation turns trading into misery.

Have something that pays the bills.

Anything.

When your survival isn’t tied to every trade, you stop operating from lack.

This is one of the real reasons so many people lose money in this space and then conclude trading is gambling.

Not because their strategy is trash.
Not because they can't trade.

It’s because they’re loaded with expectations.

They need the market to save them. They need wins now. They need every trade to mean something.

And the market doesn’t care. It doesn’t just test your strategy. It tests your emotional stability.

If you can’t detach your livelihood from your P&L, the market will expose that weakness fast.

100% agreed, trading while broke = recipe for stress and dumb mistakes.
Get a steady income first, chill on the “must-win” pressure, then trade.
Market doesn’t care about your bills, it only tests your nerves. Stay cool, survive first, profits come late

[devlin85]

Here’s something I learned the hard way and want to put out there.

If you’re struggling financially, don’t go full-time trading yet.

Don’t adopt a trading or nothing mindset.

That mindset doesn’t make you focused.

It makes you desperate.

And desperation turns trading into misery.

Have something that pays the bills.

Anything.

When your survival isn’t tied to every trade, you stop operating from lack.

This is one of the real reasons so many people lose money in this space and then conclude trading is gambling.

Not because their strategy is trash.
Not because they can't trade.

It’s because they’re loaded with expectations.

They need the market to save them. They need wins now. They need every trade to mean something.

And the market doesn’t care. It doesn’t just test your strategy. It tests your emotional stability.

If you can’t detach your livelihood from your P&L, the market will expose that weakness fast.

Trading while broke = stress city. Get a steady income first, chill on “must-win” pressure, then trade. Market doesn’t care about your bills, it only tests your nerves

[sheenshane]

This is one of the real reasons so many people lose money in this space and then conclude trading is gambling.

Not because their strategy is trash.
Not because they can't trade.

It’s because they’re loaded with expectations.

Because the fact that trading isn't all about getting profit or money, and that's what people think about it.
Their mindset is getting profit in a short period of time or trading without experiencing a loss, they never know that learning from mistakes makes us a successful trader in the future.  There's no shortcut in trading to make us successful, we should learn step by step through our failures and successes.

I always said this on my post when talking about trading that trading shouldn't be for everyone.
Doing trading is for those people who have self-discipline and are willing to learn, can afford the risk, have a plan, and have strong risk management.

[0x000369]

When your survival isn’t tied to every trade, you stop operating from lack.This is one of the real reasons so many people lose money in this space and then conclude trading is gambling.Not because their strategy is trash.Not because they can't trade.It’s because they’re loaded with expectations.

@Dechris_08 you absolutely nailed it
this is something we've been saying since 2015
literally saw thousands of kids come in thinking crypto was their ticket out of poverty
dump their life savings maybe even borrow money then get absolutely rekt the first time the market sneezes
they think they can outsmart wall street with a youtube strategy and five hundred bucks
the market eats them alive it always does
the desperation is a signal to predators too
all these fake gurus showing off lambos they rented for an hour
they target the broke ones the ones who want it bad
it's not even about strategy at that point it's just a gambling addiction fueled by hopium
always have a main gig kids always
this is just what happens every cycle

[jcojci]

No need to do full time trading if you lack knowledge of trading or not ready to with the risks. Learning trading is first thing you need to do before starting. Besides that, you also need learning about money management so you know how much you can use to trade.

Don't use much money to trade no matters you have knowledge and can trade or not. That is prevention to avoids the big lost because the market can change direction anytime.

[Nahl]

Believe me that do not ever to being an the trader if you were still struggle to improved your financial condition because you will have the mainset that trading is the jobs who always be earn money and this mainset is very dangerous for your own mentality because if the results are not as expected then eventually you will be desperate and i know some inspiring traders have success to beat the market and earn a lot of profit but these people have through an plenty of process before they can gets rich and the tips is good that do not ever to thinking to quit from your jobs and focus to trading if your winning percentages in trading is still lack that because eventually your jobs can save your financial

[CryptoDracoo]

I would say there is nothing like a stable thing to pay the bills. You reason better when your rent or food is not conditional on the next transaction, and can take chances better. The market is not there to save anybody and it responds poorly to desperation.
The majority of those who refer to trading, as gambling, are not mistaken in their feelings, but it is the matter of mind. They are hoping that the market will salvage their life. Trading is less a skill, more of patience and emotional control. Unless you are able to separate your survival out of your trades, the market will bring you to your knees very fast.

[Itz-prisigold]

This topic is one of the most important aspects of trading and one that most people overlook.

Speaking from experience,  and even in people's stories I’ve seen, the moment you start seeing trade as your means for survival that is were things becomes bad,  your mindset shifts. You are no longer  calm and collected; you are under pressure. Losing a trade,  regardless of if it was a smart decision, will now come with a psychological cost, every small loss feels so painful and every trade starts to feel like it must work. Under this pressure you will begin to disregard your own rules, and you won't even notice.

When you don't have a secondary source of income, you will be forced to trade even if the market is bad.  You can't sit out,  you can't be patient. You are just trying to  "make something today,"  by all means and that's where the mistakes start to pile up.

Having a job that pays your bill will help improve your trading because you will be more selective with your trades,  more disciplined,  and trades without a ton of emotion. Trading only works when you are relaxed,  not when trading is to survive from it.

[Awaklara]

They need the market to save them. They need wins now. They need every trade to mean something.

Those words seem more suitable for gambling, and if any trader does that, perhaps he is a gambler who started gambling on a trading platform. Those who trade full-time, I believe, are already skilled and do make well-thought-out trading plans. But there are also beginners who feel great because of some early profits, making trading their sole source of income.