Are you too good in trading and now earning the money you want to use to hodl?

[Text]

For me, I wouldn’t say I’m too good at trading to rely on it as a main source of income. I’ve had wins, yes but also losses that remind me that the market can turn anytime that’s why I treat trading more as a skill based side income not something I fully depend on like a salary.

Yes, trading has helped me earn extra funds that I can reinvest into crypto but not always consistently, there are periods where profits come in & there are also times when I just focus on preserving capital so I don’t rely on trading alone to prepare for the next bull market, I still prefer to accumulate & hold using money I can afford to set aside.

[Razmirraz]

Initially, I tried trading, even though my knowledge of trading was still very limited. After experiencing several losses, I finally decided to stop trading because I believed that trading was a high-risk activity that required expertise and was not a get-rich-quick scheme. I also realized one thing after losing some money from trading: this activity cannot be a primary source of income, especially for beginners, because only a few disciplined people can make money consistently in the long run. I have now decided to stop trading and switch to a more conservative strategy, considering that crypto volatility often makes trading a mentally and financially draining experience.

[letteredhub]

The second question I will ask is that does trading give you more money for you to invest in crypto for the next bull market? Do not lie.

Maybe some of persons needs to know this and look into it critically to understand that trading can't be a means through which you can be raising funds to create a cryptocurrency (bitcoin) long term investment. You would be tempted to sell your investment in short time unplanned to foot your trading in the mind thought that you would replace after winning your trade, and that's how you'll continue running in circles between trading and investment without achieving anything at the end of the year.

Having a job or any other sustainable and reliable income source is the right means to raise funds to build a bitcoin investment by using a percentage of the funds from your salary as you seem fit for your successive accumulation with a DCA strategy, and not with trading.

[Oshosondy]

Maybe some of persons needs to know this and look into it critically to understand that trading can't be a means through which you can be raising funds to create a cryptocurrency (bitcoin) long term investment. You would be tempted to sell your investment in short time unplanned to foot your trading in the mind thought that you would replace after winning your trade, and that's how you'll continue running in circles between trading and investment without achieving anything at the end of the year.

This is a very good post because this is how traders are, but they will still prefer to argue saying stop loss is good but when they have bad trading habits. They will use high leverage, thinking stop loss is very good, but they will be losing as usual. It may get to the point that they will not use the stop loss and use high leverage because of emotions and lose all the money. I have said this several times that patience is very good in trading. And without having a good source of income which is not trading, making money in trading is not guaranteed. But even if you are making money from other sources, trading can be taking the money. It is good to trade wisely.

[Faisal2202]

Are you so good in trading to the point that trading become the source of income for you?
The second question I will ask is that does trading give you more money for you to invest in crypto for the next bull market? Do not lie.

Ok, I will not lie.

No, I am not a good trader, not good enough to make trading my main source of income, never. I am too bad at controlling my greed whenever I am making a profit, and I become so greedy that I chase a few extra dollars, and in that chase, I end up losing everything haha. Once upon a time, I took a trade, and my final profit target was $600. Yeah, it was a big trade and the market was volatile. Anyway, I was able to make $300+ profit, but I did not book it because I was chasing $600.

Well, it fell and I was in some loss, but anyway it pumped again, this time maybe after a day, and I was making $300+ again, and silly me still did not book the trade. I know how it all sounds. You might want to slap me in the face for this stupid mistake, but believe me, I laugh every single time when I remember that trade. It was one of its kind. Anyway, I do not make such mistakes anymore, I book the profit as soon as possible. These kinds of mistakes will not allow me to make trading my main source of income. Also, I do not trade futures, I am in spot trading.

[justdimin]

Initially, I tried trading, even though my knowledge of trading was still very limited. After experiencing several losses, I finally decided to stop trading because I believed that trading was a high-risk activity that required expertise and was not a get-rich-quick scheme. I also realized one thing after losing some money from trading: this activity cannot be a primary source of income, especially for beginners, because only a few disciplined people can make money consistently in the long run. I have now decided to stop trading and switch to a more conservative strategy, considering that crypto volatility often makes trading a mentally and financially draining experience.

While I do suggest people to stop doing something they do not want to do, I would like to also warn everyone that your first trades are not suppose to be wins. While you may get lucky, and it could be a bull run, and you just happen to make money as well, in most cases people lose money on their early trades.

You can of course not continue because holding already makes money so there is no reason to keep trading if you do not want to. But if you do want to continue, be sure that you are not going to keep losing forever, it's just that early days are the mistakes days and your responsibility is to learn what went wrong and if you can learn from your mistakes then in the future you are going to become a better trader.

[Findingnemo]

I was actively trading for quite a while on LBC and at that time the earnings were pretty good and it almost became my primary source of income but I know it is not a long-term one so I never gave up on what I was doing before and continue to trade.

Then the nightmare for p2p trading platforms started, more regulations and more competition among sellers made the profit-making quite harder, so I stopped doing that anymore and just focused on holding from that point.

I may used some of the profits to invest and hold them until now but most of them were just wnet for daily bills at that time.

[Hyphen(-)]

For me, I wouldn’t say I’m too good at trading to rely on it as a main source of income. I’ve had wins, yes but also losses that remind me that the market can turn anytime that’s why I treat trading more as a skill based side income not something I fully depend on like a salary.

Yes, trading has helped me earn extra funds that I can reinvest into crypto but not always consistently, there are periods where profits come in & there are also times when I just focus on preserving capital so I don’t rely on trading alone to prepare for the next bull market, I still prefer to accumulate & hold using money I can afford to set aside.

Exactly, one cannot completely rely on trading because the market can be funny sometimes; your losses can be bigger than your profit sometimes in trading. That's why relying on trading as a source of income is not good sometimes because if the market is not good or favourable and you only rely on it as your source of income, you will struggle to survive. That's why no matter how good you can be with trading, take it as your alternative source of income so that you can have something to rely on when the market goes wrong for your trades. While if you have made a lot of profit, you can use it to invest in Bitcoin ahead of bullrun.

[Miles2006]

Trading is not a source of income as a matter of fact trading seems difficult compared to gambling but, winning profit is very massive reason why people choose to take risk. I have a friend who trade for a living although not as a source of income completely but, trading stands as a helping hand mostly, the funny part is he’s knowledgeable about the strategy and techniques yet that doesn’t stop him from losing once in a while but, he win more with a nice amount. What seems to amaze me is he gets more subscribers weekly, students are willing to go extra mile just to achieve their dream goal to be successful trader although I’m not discouraging anyone because I have seen many earn through the help of trading.

[Italian Panic]

I was actively trading for quite a while on LBC and at that time the earnings were pretty good and it almost became my primary source of income but I know it is not a long-term one so I never gave up on what I was doing before and continue to trade.

Then the nightmare for p2p trading platforms started, more regulations and more competition among sellers made the profit-making quite harder, so I stopped doing that anymore and just focused on holding from that point.

I may used some of the profits to invest and hold them until now but most of them were just wnet for daily bills at that time.

Yes, at the moment energy bills are very high, and if the Hormuz issue isn’t resolved and prices start to fall, things will get very tough for Europe and other parts of the world (including the USA).
That said, trading and managing to hodl with the profits isn’t half bad; well done if you can manage it, especially as trading done seriously is like a proper job.

[Alpen]

Trading is not a source if income. That is the advise form old traders, but we advise people like that because we want them not to lose money in trading, but eventually some people will become a trader and make money from it. These are the people that will think they should earn money from trading as they later are realizing money from trading and not losing than winning. Such person can turn trading to one of the ways of making money. We do not conclude this because we know traders will find this out but be consii about how trading is very risky like gambling.

Are you so good in trading to the point that trading become the source of income for you?
The second question I will ask is that does trading give you more money for you to invest in crypto for the next bull market? Do not lie.

Trading is not a stable income. Your account can go into drawdown for several months, like what happened recently during the crypto winter. That's why I invest part of my income from my crypto business into cryptocurrencies. I offer subscription services, and people pay in crypto through the Cryptomus gateway. Thanks to its settings, I can convert the payment into a specific altcoin and set up an instant withdrawal straight to a cold wallet. And the income from trading—I spend that on my dreams. I set a goal and save up for something big.

[DanWalker]

Do not lie.

Honestly, I would be very surprised and skeptical if someone said that trading was their main source of income and that they were making a steady profit from it. But after reading three pages of replies, I barely saw anyone saying that it was their primary source of income and that they actually made a profit from it.

It seems most people are telling the truth, and it reminds me of another topic you posted before, which is that 97% of traders are losers. I think that number is quite accurate and reflects what is happening in the market.

[jcojci]

I am not daily trader but will trade if I see a good moment to enter and exit the market. Maybe I am far from making profit every time I trade as I often losing money because of my greed.

I never thinks using trading as source of income as I don't have good skills. I am hard learning about trading and still needs to learn more. I used my income to invest in Bitcoin and I am lucky collecting the coins from the past.

Some people really making money from trading but not many can do this. If they wants to make money from trading, they should learns many things having good skills.