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

[nara1892]

This is the reason why we are always advised to first have a stable income in other fields before plunging into the world of trading, trading is not a get-rich-quick scheme, getting profits in it is not as easy as we think, it can even be much more difficult than a real job that sweats a lot.

But unfortunately there are always those who force themselves and usually they are people who have financial problems such as needing a lot of money in a short time until finally their rational mindset is lost and make decisions that ultimately make them even worse.
Simply put, in my opinion, trading is not for people who are chasing urgent needs.

[FanEagle]

Anything done without proper knowledge will cause problems later and this applies to those who engage in trading solely because they're influenced by others. There's no way to achieve success without good trading skills and almost no trader succeeds without proper knowledge. The market doesn't care how much you spend or even how many times you lose because it's always looking for greedy people who don't fully understand trading.

Worse yet when they experience significant losses in trading, they think they can recover those losses by engaging in trading full-time without the support of proper knowledge. This often leads to a breakdown in emotional control for those who think they can quickly recover their losses.

People don't do surgery if they have no education, people do not file their own taxes if they have no idea about laws, people do not teach classes at school if they have no knowledge of the subject, and yet for some reason they trade when they have no idea about trading. Obvious difference is that they won't let you do a surgery if you are not a surgeon, they won't let you teach classes if you are not a teacher, and yet law says you can trade even if you have zero clue, and that's the reason why they do it.

In reality, nobody should do something if they have no idea about it, if you are going to lose your money from lack of knowledge then why do it? Makes no sense to me, first you need to study and learn how to do proper analysis.

[Stable090]

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 people that you going to see creating posts like this on social media are the ones that are having signal groups, people like this are ready to say anything just for people to join their signal group, they just want to collect money from people and they going to be providing fake signals.

Lots of newbies are being mislead by all this signal providers, they do make newbies feel like trading is so easy, and they will never lose money whenever they are trading. They don’t say the truth about trading, because all they are after is just the money that they are going to receive. It’s better we don’t believe things we see on social media about trading.

[Shinpako09]

This is the reason why we are always advised to first have a stable income in other fields before plunging into the world of trading, trading is not a get-rich-quick scheme, getting profits in it is not as easy as we think, it can even be much more difficult than a real job that sweats a lot.

But unfortunately there are always those who force themselves and usually they are people who have financial problems such as needing a lot of money in a short time until finally their rational mindset is lost and make decisions that ultimately make them even worse.
Simply put, in my opinion, trading is not for people who are chasing urgent needs.

Probably they are deceived by those so-called social media influencers who are just showing the greens to get affiliates. They don't realize that trading is not for everyone. Since they are deceived, they imagine unrealistic outcomes in every trade they make. It's like when emotions are high, intelligence is low. People who are desperate usually get deceived easily. They think trading is as simple as it looks, and they believe they can become profitable in a short period of time.

[nara1892]

This is the reason why we are always advised to first have a stable income in other fields before plunging into the world of trading, trading is not a get-rich-quick scheme, getting profits in it is not as easy as we think, it can even be much more difficult than a real job that sweats a lot.

But unfortunately there are always those who force themselves and usually they are people who have financial problems such as needing a lot of money in a short time until finally their rational mindset is lost and make decisions that ultimately make them even worse.
Simply put, in my opinion, trading is not for people who are chasing urgent needs.

Probably they are deceived by those so-called social media influencers who are just showing the greens to get affiliates. They don't realize that trading is not for everyone. Since they are deceived, they imagine unrealistic outcomes in every trade they make. It's like when emotions are high, intelligence is low. People who are desperate usually get deceived easily. They think trading is as simple as it looks, and they believe they can become profitable in a short period of time.

Yes, I'm with you and I'm sure that most of it is due to the influence of the influencers' content that shows everything that looks tempting as a result of their trading activities, and lately I've seen some content creators trying to uncover all the secrets of the influencers who always appear luxurious in front of the camera, it was done when he realized how many victims of the promotional influencers.
One thing I will say here is that “everything that seems too easy to get is absurd”.

[justdimin]

Most people that you going to see creating posts like this on social media are the ones that are having signal groups, people like this are ready to say anything just for people to join their signal group, they just want to collect money from people and they going to be providing fake signals.

Lots of newbies are being mislead by all this signal providers, they do make newbies feel like trading is so easy, and they will never lose money whenever they are trading. They don’t say the truth about trading, because all they are after is just the money that they are going to receive. It’s better we don’t believe things we see on social media about trading.

Trying to get paid to make something like this is not a good way to make money and unfortunately there are a lot of people who will end up with mistakes along the way. If you fall for someone who promises you that they can get you rich, know that they are simply lying to get your money, it's as simple as that but there are still a lot of people who fall for it.

Unfortunately it is not going to end up with anything good, because there are no people who will help you that way and ask you for money. If someone is a great trader, there is no reason for them to charge you money, and there are some social media type of systems in places like binance where you can trade what someone else trades and they get a cut, so not a straight up beforehand payment.

[Kelward]

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.

People should be very careful about what they accept on social media because there are lots of garbages and deceptions, I see pop up adds about trading, some guy telling that you can be making hundreds of dollars everyday in your house, in the end they will share a link. Many young people are looking for get rich quick schemes and they will fall victim to influencers and fake projects, scammers are getting richer off ignorant people everyday.

I've always known that trading shouldn't be taken as a full time job because you don't control the market, as a matter of fact traders should only use amount that they can afford to loose to enter trade. It is not a job that you are guaranteed to make profit and if you make the mistake of relying solely on it for survival you will become very desperate which can lead you to chasing loses, you can become worse off at the end of the day. Gain knowledge from experienced traders and treat it like a side hustle, when you you start to become very profitable you can then consider it as a main job but I don't recommend 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.

People should be very careful about what they accept on social media because there are lots of garbages and deceptions, I see pop up adds about trading, some guy telling that you can be making hundreds of dollars everyday in your house, in the end they will share a link. Many young people are looking for get rich quick schemes and they will fall victim to influencers and fake projects, scammers are getting richer off ignorant people everyday.

If anyone wants to believe everything they see on social media without doing any further studies by themselves, they will lose their hard earned money. This era now is about AI, that's the latest trends, every exchange and forex broker are not advertising their AI as the best for trading and they are saying it can give up to 90% success, I don't know if stock brokers don't have there too to advertise but the essence of this is that, most of the advertisement they are doing are fake, the AI can not be that successful.

[tygeade]

I agree that there are still people who make a profit from trading and turn it into a full time job and their primary source of income. But let's be realistic, the number of people who can do that can be counted on one hand, not many people have done it.

Therefore, not only newbies but even us, experienced investors. Do not try to imitate them because we are not like them. Just because they did it does not mean we can do it too. Instead, it is important to understand yourself, your limitations, and choose a more suitable approach.

Trading is not for everyone, and only a select few can succeed in this field.

You're right for saying that trading is not for everyone, and for one to increase their chances of succeeding as a trader, they will need to have a good enough capital so that they can make more trades and still have backup because sometimes you might have some of your money stuck in a trade, which shouldn't happen because you should always have stoploss, but sometimes new traders make this mistake and get their money stuck in a trade, and then they keep waiting until the market recovers and they get to close their trade either in profit or just at the breakeven.

Someone who has a low capital will most likely just lose it in trading, especially if they are new in the sphere and is in a hurry to make money.

A good trader, someone who has knowledge and also gained some experience, might even turn a small amount into a full-grown capital over time, but a newbie will mostly like just lose it by taking unnecessary and uncalculated risks, and then such people also blame the market for their losses and keep telling others not to get into trading or cryptocurrencies.

[Die_empty]

This is the reason why we are always advised to first have a stable income in other fields before plunging into the world of trading, trading is not a get-rich-quick scheme, getting profits in it is not as easy as we think, it can even be much more difficult than a real job that sweats a lot.

But unfortunately there are always those who force themselves and usually they are people who have financial problems such as needing a lot of money in a short time until finally their rational mindset is lost and make decisions that ultimately make them even worse.
Simply put, in my opinion, trading is not for people who are chasing urgent needs.

Any economic activity which doesn't guarantee steady returns should not be the only source of income. Trading could lead to long losing streaks, one will begin to wonder how a trader will survive duing these periods. Some people who are full time traders already have reasonable backup funds they can fall back to anytime the market is unfavourable. But for people who are struggling to survive, adopting trading as a full-time job will lead to poverty and frustration.

I know some traders who had expected to make it big this bull run. There were expecting to cash out during what they described as altcoins session. Many of them were disappointed because that season never came as they expected.

[nara1892]

This is the reason why we are always advised to first have a stable income in other fields before plunging into the world of trading, trading is not a get-rich-quick scheme, getting profits in it is not as easy as we think, it can even be much more difficult than a real job that sweats a lot.

But unfortunately there are always those who force themselves and usually they are people who have financial problems such as needing a lot of money in a short time until finally their rational mindset is lost and make decisions that ultimately make them even worse.
Simply put, in my opinion, trading is not for people who are chasing urgent needs.

Any economic activity which doesn't guarantee steady returns should not be the only source of income. Trading could lead to long losing streaks, one will begin to wonder how a trader will survive duing these periods. Some people who are full time traders already have reasonable backup funds they can fall back to anytime the market is unfavourable. But for people who are struggling to survive, adopting trading as a full-time job will lead to poverty and frustration.

I know some traders who had expected to make it big this bull run. There were expecting to cash out during what they described as altcoins session. Many of them were disappointed because that season never came as they expected.

Of course it should not be made as the only income, you have said the right thing that trading can cause consecutive losses especially when emotions dominate and this is proven by many traders.
This means as you said that making trading a place to survive will only lead you to a much worse situation, so the point is to make trading a side income, not more than that.

[dunfida]

This is the reason why we are always advised to first have a stable income in other fields before plunging into the world of trading, trading is not a get-rich-quick scheme, getting profits in it is not as easy as we think, it can even be much more difficult than a real job that sweats a lot.

But unfortunately there are always those who force themselves and usually they are people who have financial problems such as needing a lot of money in a short time until finally their rational mindset is lost and make decisions that ultimately make them even worse.
Simply put, in my opinion, trading is not for people who are chasing urgent needs.

Any economic activity which doesn't guarantee steady returns should not be the only source of income. Trading could lead to long losing streaks, one will begin to wonder how a trader will survive duing these periods. Some people who are full time traders already have reasonable backup funds they can fall back to anytime the market is unfavourable. But for people who are struggling to survive, adopting trading as a full-time job will lead to poverty and frustration.

I know some traders who had expected to make it big this bull run. There were expecting to cash out during what they described as altcoins session. Many of them were disappointed because that season never came as they expected.

Once you have decided to dive in into trading doesnt matter which market you would be dealing on, just make it sure that this isnt something that your last resort. Lets say you have lost your job and now you've chosen trading to be your option for you to survive on which this wont be able to be possible in a short time period. Establishing your skills and become consistent or profitable is something that you wont be able to learn in a short term period on which means that if you dont have a job nor having no money that much then it would be a bad option. Always be best that you should look for a job, allocating some amount for you to trade and then making it some side income or side job on which you would be able to find out whether you are that doing fine or not. Always be considerate about on the risks factor because this has always been the recommended approach.

Trading could change up your life financially and this is indeed possible. It do really just that turned out that acquiring such skill and become successful into this field wont come easy. You would pass through tons of challenges and hardships before you would be able to achieve such success but of course not everyone would be able to attain it.

[lizarder]

People don't do surgery if they have no education, people do not file their own taxes if they have no idea about laws, people do not teach classes at school if they have no knowledge of the subject, and yet for some reason they trade when they have no idea about trading. Obvious difference is that they won't let you do a surgery if you are not a surgeon, they won't let you teach classes if you are not a teacher, and yet law says you can trade even if you have zero clue, and that's the reason why they do it.

In reality, nobody should do something if they have no idea about it, if you are going to lose your money from lack of knowledge then why do it? Makes no sense to me, first you need to study and learn how to do proper analysis.

Some professions cannot be practiced by ordinary people because they haven't received the relevant education for those professions, and the distinction may be quite clear. Trading has no boundaries and no legal implications for anyone involved. I don't mean to imply that trading is a trade in this way, but rather that there is a basis for trading with maximum learning so that those skills will develop naturally and avoid the far worse outcomes of trading without knowledge. This learning process won't be instantaneous it may require experience and effective learning based on certain conditions.

Many people engage in trading not because they lack knowledge, but because they lack skills. Sometimes they're driven by the greed for large profits and also by the desire to see others succeed. This seems counterintuitive from the perspective of someone who understands trading as achieving consistency in trading takes time and learning. In this context, trading should be viewed as a way to gain sufficient knowledge to understand how to engage in higher-risk trades.

[moneystery]

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

If you're struggling financially, you shouldn't be trading from the start. Trading requires capital, and no one can guarantee that your trading will consistently be profitable. There will inevitably be times when you lose money and your trading becomes chaotic. If you're struggling financially at that point, you'll likely start selling your belongings to cover your losses, and your life will inevitably fall apart.
So, it's better to focus on improving your financial situation first, and then, when you're truly ready, you can start learning to trade. There's no need to rush into the market just because you want to get rich quick... trading requires patience and time to learn.

[Miles2006]

Full time trading can be done when a trader has the perfect strategy to win huge all the time, presently there’s nothing associated with perfect when trading except the market is in your favour not minding the mindset also trading has different steps. Nothing is certain 100% reason why influencers who share different pattern and opinion will never show you the losing part because they want a larger audience, traders only get successful when they’re fianacial stable with a good management plan.

[Kelvinid]

As simple as it is, trading requires trading funds, so how can you guarantee profits from trading when your capital isn't enough? How can you trade consistently to increase your profit potentials when you are broke and pocket empty?

Trading alone is risky, but trading if you are financially broke will only add more risk to trading itself. 

[LogitechMouse]

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.

That's why this doesn't make sense at all.

You're broke in the first place, and the first thing that comes to your mind is... TRADING?? I mean if you're in the right mind, you will think that trading isn't the first option for you to make money because you don't have any money to use for trading in the first place. Instead of go and trade, why don't you just find a stable job first, set aside a portion of that monthly income for trading then while working, try to learn how to trade if you're just starting. Going to a full-time job where you don't have any side job or any income source at all is just "suicide", and it will just make your life even worse than it already is.

As for those people who are flexing their money and anything on social media, that's the result of more than 3, 4 or even 5 years of not making money back when they're just starting. What most don't know is that, most of these traders spent years not making any money at all, and what they're just looking at are the results of that pain, hardship, and the sacrifice that they did, the money that they lost back then and how hard it is to see yourself not making profit after years of trading.