Should you quit your job to trade?

[jossiel]

That's right, those who think they can quit their jobs just to trade will not be able to sustain their first trials.

It's known that trading is risky and if you don't have a deep pocket for you to fund yourself after losses, you're going to stop by then.

And so, if you don't have a job and you have decided to quit first as you do it, it's a big mistake and a serious decision.

Base on experience people usually think about that are those total newbies on trading and taste early win on their trades. Then they imagine that they can leave their  jobs that they don't like on the first place if they can always win on their trades.

But this is not really possible since as we all know here trading is so risky.

There's nothing wrong with them being so optimistic of what they can think of knowing that trading can be a profitable source.

But the reality will show them the true thing about it that it's not the forte of everyone. And for the starters, it might give them the most brutal results that they won't like.

Leaving the job while knowing it is the same as leaving the job while applying for another one that you're not yet assured of.

[Judith87403]

No. In my own experience, I quit my job before the Covid Pandemic. I focus on trading stocks. I also trade crytocurrencies. Although I have some earnings but  there were still unstable stocks. Not to mention, the market is still bearish so I had't earn that much yet.

Your job gives you stability. Why not have them both? You do your job and then you also do trading.

Some traders somehow sees their job as a distraction to their trading career, like they’re not really giving their trading career the attention it deserves, and maybe that’s why they’re not really making much of a profit or improvement, thus the idea of quitting their jobs to focus on their trading.

But the truth is that this isn’t always the case, although some jobs can be really demanding, but the truth remains that, just as you earlier stated, it gives one the stability, no just financial but also sometimes mentally , which helps one also focus more on improving their trading skills and position.

[8rch7]

It is better to think about learning to trade while still working. If you have already obtained consistent profit, only then consider gradually entering the world of trading. Even then, it should be with risks that have been carefully considered and with backup funds ready to endure a period without income.

If you don't have any preparation and only rely on videos from trading influencers, don't even think about becoming a trader.

I think significant impact after watching the video trading influencer make many people leaving their job and make trading as full time job without think about high risk from cryptocurrency trading. To be success in trading not require watch the pattern of bitcoin chart almost 24 hours, as short term trader I only check bitcoin market on mobile phone its flexible I can work at real job and monitoring the market from my mobile phone.

After opening buy order and check few hours later have been filled just open selling order, its not take much time with cryptocurrency trading and not require have to leave our job have been guarantee salary payment every month.

[aylabadia05]

No, not at all.
Sharing my own experience, I was working in a well paid job and the salary was enough to meet my needs. Also, I was saving extra money every month. During this job I used to watch various videos on youtube about trading and a lot of greed developed inside me.
Unfortunately, I gave up my job and started watching those trading videos regularly. I especially watch interviews with successful traders who are earning millions of taka per month from trading. I started trading mainly because of these false hopes and to be honest I lost a lot of money. But I learned a lot from my mistakes that will help me do better in crypto in the future.

Have you had any such experiences in your life?

It never even crossed my mind to quit my job—even though it doesn’t make me rich, it’s enough to cover my expenses for trading.
Watching trading videos and other educational content has become a habit that helps me gain knowledge, rather than wasting time and battery life scrolling through social media platforms filled with junk content. But I don’t do it 24/7—just at certain times.

I trade when I feel like it. That’s it—that’s my experience. I don’t treat profits and losses as something to share like a content creator would.

[Issa56]

Unfortunately, I gave up my job and started watching those trading videos regularly. I especially watch interviews with successful traders who are earning millions of taka per month from trading. I started trading mainly because of these false hopes and to be honest I lost a lot of money. But I learned a lot from my mistakes that will help me do better in crypto in the future.

You haven’t even started trading before you left your job, that’s kind of serious because most of the people that do give up their job just for trading are  people that are already making money from trading also, but how will you be watching videos about trading and you just decide to leave your job.

Just because you see people making videos talking about the amount they make from trading, that doesn’t mean you should trust them, some of them are just deceiving people and they not really making much money from trading, they just misleading people that are new to trading, because they just make trading looks so easy.

I do tell people not to ever leave their job because of trading, even if you are making money from trading, just make sure you maintain your job, and trading should be your alternative source of income, and not your main source of income.

[Big Dirams]

No. In my own experience, I quit my job before the Covid Pandemic. I focus on trading stocks. I also trade crytocurrencies. Although I have some earnings but  there were still unstable stocks. Not to mention, the market is still bearish so I had't earn that much yet.

Your job gives you stability. Why not have them both? You do your job and then you also do trading.

Some traders somehow sees their job as a distraction to their trading career, like they’re not really giving their trading career the attention it deserves, and maybe that’s why they’re not really making much of a profit or improvement, thus the idea of quitting their jobs to focus on their trading.

But the truth is that this isn’t always the case, although some jobs can be really demanding, but the truth remains that, just as you earlier stated, it gives one the stability, no just financial but also sometimes mentally , which helps one also focus more on improving their trading skills and position.

One thing I’ll like to advice in my opinion is that one shouldn’t try to quit their jobs on their early stage of trading either trading is been profitable or not let not quit out jobs during the early stages. We can try to quit our jobs only when we know we have gain much knowledge on trading and have the surest mindset of giving trading all our time and also at the same time we have made so much from  trading that will give us a long term settlement. And this are for those who think their career will distrust with their trading journey.

 But for those who don’t think of that then that’s a smart decision because money adding to money gives us more money so let keep the job. Trading as well goes sideways like many other activities so let have proper management. But when the job is there then we can still be a little bit in good shape with our necessities.
 

[letteredhub]

Responding direct to the thread title, I would say no, you don't quit your job because you want to turn to a trader. That's foolish and shouldn't be encouraged.

As a trader you don't make money from trading with every trade executed, and even if you want to make it a full time job you still won't be guaranteed of daily constant profits. There are periods you would lose so badly. In those periods where would you fall onto for financial backup? Your salary from your job. Another crazy thing about trading without a job is that it makes you trade without clear vision of analysis, just because you're in need of funds and since there's no where else to look into, you can easily open unnecessary trades just to see if you can hit profit but that's where massive losses looms.

[barbara44]

The weird thing about this is that, even if you do make a lot of money, or if you do want to do this, which I support, it is not my money it is not my life so do whatever you want. But the question remains, why? Why would you want to really do this? It doesn't make sense, it doesn't really look like you need to quit your job to do this?

Maybe there is something that I am missing, but in reality, can't you just trade before/after your work? Like not everyone works 9-5 I know, but let's assume it's a 9-5 job, and you go there, come home, eat dinner, and even maybe while eating dinner, and as soon as you get home, you just hop on PC, and start trading until you sleep? How is that not a good way to trade and make some money?

[fuguebtc]

Maybe there is something that I am missing, but in reality, can't you just trade before/after your work? Like not everyone works 9-5 I know, but let's assume it's a 9-5 job, and you go there, come home, eat dinner, and even maybe while eating dinner, and as soon as you get home, you just hop on PC, and start trading until you sleep? How is that not a good way to trade and make some money?

Many people want to quit their job to trade fulltime and turn it into their main source of income. Because they believe that trading will bring them higher income than their current job, and may even help them get rich faster, achieve financial freedom, and retire early

This is the mindset of most people who want to quit their jobs to focus on trading fulltime


Overall, the idea is not wrong, but the problem is that making a profit from trading is not as simple as they think, let alone getting rich from it.

[Mpamaegbu]

Unfortunately, I gave up my job and started watching those trading videos regularly.

That's an error no one should make. You don't quit before earning comfortably, let alone quit to start like you did. It's a big blunder. Doing that puts a lot of pressure on you to meet up with bills. Trading doesn't like pressure. It can tolerate risk but not pressure. Anyone trading for a living knows that.

I started trading mainly because of these false hopes and to be honest I lost a lot of money.

That's not a bogus claim. People actually earn from trading. There are those who depend solely on trading for their livelihood. They do nothing else than trading and they're making a kill from it. The only thing is that these people are few. Most of them won't even have that time to teach online and display screenshots or videos of their trades.

[virasog]

Some traders somehow sees their job as a distraction to their trading career, like they’re not really giving their trading career the attention it deserves, and maybe that’s why they’re not really making much of a profit or improvement, thus the idea of quitting their jobs to focus on their trading.

Don't you think that job isn't a distraction and trading can be done while being on the job ? I think it is just an excuse to quit the job for trading, while actually trading isn't a full-time job. Both can go side by side if one is willing to accept it.

I think when you have another income other than trading, you're less stressed and can carry on trades much better as compare if you only income is profits from trading and in that case you have to force trades and most of the time, you may get losses.

[goldkingcoiner]

No, not at all.
Sharing my own experience, I was working in a well paid job and the salary was enough to meet my needs. Also, I was saving extra money every month. During this job I used to watch various videos on youtube about trading and a lot of greed developed inside me.
Unfortunately, I gave up my job and started watching those trading videos regularly. I especially watch interviews with successful traders who are earning millions of taka per month from trading. I started trading mainly because of these false hopes and to be honest I lost a lot of money. But I learned a lot from my mistakes that will help me do better in crypto in the future.


Have you had any such experiences in your life?

Trading is not a job. It is an income source, just like a job. It requires time and knowledge, just like a job. But you will not be able to make a steady cash flow with trading. In fact, you may even lose money or not make money for a long time.

Having an assortment of income sources is important. Even a job alone is not a sure thing. You can lose it at any time for any reason.

[Adams0001]

I don't have any such experience, but I also thought about quitting my job and starting to trade. Then, of course, I was new to trading so that I couldn't decide. Some of my friends with a lot of trading experience warned me that trading can never be an alternative to a job or a better way to earn than a job. Many YouTube trading videos are scripted to attract viewers and encourage them to buy paid signals. These influencers should be avoided. They always share success stories to build trust and attract new members to their group. They will make a big mistake if they consider trading a better option than leaving their jobs to join the crypto market. And when you lose everything, you will regret it.

Cutting your job just for getting into trading is a very risky and is and bad advice for someone to cut is job for trading. You need to be in a job to get more money to trade because without getting any sources of income you can't e joy trading, since you won't have any way of getting money when  ever you trade and you lose at that moment where will you have much money to try for second term. Trading is not something you will just jump into just to get profit you need to study harder and get experience about it and follow it gradually and later you will start to understand it and get the benefit. But leaving your job to to do trading you're making a big mistakes that you will regret later so you need to think wisely before making any decisions.

[GIF-JOBS]

No, not at all.
Sharing my own experience, I was working in a well paid job and the salary was enough to meet my needs. Also, I was saving extra money every month. During this job I used to watch various videos on youtube about trading and a lot of greed developed inside me.
Unfortunately, I gave up my job and started watching those trading videos regularly. I especially watch interviews with successful traders who are earning millions of taka per month from trading. I started trading mainly because of these false hopes and to be honest I lost a lot of money. But I learned a lot from my mistakes that will help me do better in crypto in the future.


Have you had any such experiences in your life?

Trading is not a job. It is an income source, just like a job. It requires time and knowledge, just like a job. But you will not be able to make a steady cash flow with trading. In fact, you may even lose money or not make money for a long time.

Having an assortment of income sources is important. Even a job alone is not a sure thing. You can lose it at any time for any reason.

This is why I never like to depend on just one thing in any case, we must have an alternative for protection. Bad times may come, I may lose my job, if I rely on trading, I may face a lot of losses, there may be unexpected losses in business.

so we should have an alternative for everything, so that if one is lost, we can take backup from the other, and we can easily get back to normal.

[Supreme Donvic]

If you decide to quit your job because of trading then you are making a very big mistake that you will always regret, OP it is good that you have learnt the hard way and I'm sure you will never think of such ever again, trading should be a side hustle for us not a full-time job because it is very risky you can lose huge amount of money from trading today and then become broke immediately, for the fact that you are gaining in trading does not mean it will always be like that so you have to keep your job while trading and make sure that you are using only your discretional income to trade.
I have seen people who decided to focus on trading and abandoned their job also they regretted their action anyone who is trying to abandon his job just because he believes he can make good amount of money through trading really don't understand how trading works those that understand how trading works will not make such mistakes.

[Hamza2424]

No, not at all.
Sharing my own experience, I was working in a well paid job and the salary was enough to meet my needs. Also, I was saving extra money every month. During this job I used to watch various videos on youtube about trading and a lot of greed developed inside me.
Unfortunately, I gave up my job and started watching those trading videos regularly. I especially watch interviews with successful traders who are earning millions of taka per month from trading. I started trading mainly because of these false hopes and to be honest I lost a lot of money. But I learned a lot from my mistakes that will help me do better in crypto in the future.

Have you had any such experiences in your life?

Considering your registration time and the tag you have received, don't you think you are too old to say something like this haha.

Anyway bro, some people actually start trading late, so if you are still trading and still have not come to a conclusion about whether you should leave your job for trading or not, leaving your stable source of income for an unstable one seems like a bad trade, bro. Don't you think?

You will be under a lot of pressure if you leave your job, because trading is risky. You can make profit, but on the other hand you can also make a lot of losses, especially when the pressure of feeding the family increases. But if you can bear the pressure and still think you can do it, then do not leave your job yet. Try to do it alongside your job first. Once you think you have spent a year managing with trade funds only, and the money you made from your stable job has not been used for daily expenses, then you can think of leaving the job.

[Jegileman]

Have you had any such experiences in your life?

No, I haven’t had any such experience before and I don’t think I will have such experience seeing how far I have come and well informed about trading. Sometimes, it is lack of proper information and guidance that leads us to make mistakes, but the best of us are those that adjust to this mistakes and make them not have a repetition of it happening again. You have really made an inappropriate move and this will affect you for a very long time before you regain your balance again.

Don’t fall for the lifestyle of traders as to be the reason mainly why you want to trade. Just have in mind to be financially stable and independent, and then watch how you grow gradually in trading and make the best decision in your life through this means. One thing people don’t also know about trading is that when coming into trading, have something doing that can help you fund your trading account, this gives you peace and reduces your emotions and how they will affect your trading process before getting to reach the peak.

[passwordnow]

If you decide to quit your job because of trading then you are making a very big mistake that you will always regret, OP it is good that you have learnt the hard way and I'm sure you will never think of such ever again, trading should be a side hustle for us not a full-time job because it is very risky you can lose huge amount of money from trading today and then become broke immediately

They will learn this the hard way if they think that they can do it full time. There are real full time traders who knows how to do it but, for those who can't do it, they're making a huge mistake. If they can't leave their jobs, better to stay with it while testing themselves to do trading part time. A side hustle that can replace their full time job, this probably what is on the minds of the many which can be true if ever they're so profitable. But knowing that many are losing actually in trading, it's better to leave it as is and stick to their jobs.

[Bitcoin_people]

I think you should never quit your job to do business but you should do business alongside it. When you do a job, you will definitely get a good salary from which you can serve your life journey better. If you want, you can start a business from your salary, if you can move forward like this, you can own good money in the future. But when you quit your job and start a business, it will be the biggest challenge for you and it may be risky for your half and you may even fail. We know that trading is basically a difficult place, here without experience and skills, no one can ever make money, but most of the time they fail. To do trading, you basically have to make yourself experienced first and then learn to analyze the market well.
Basically, I think it would be good to trade alongside your job with a little money, but if you quit your job completely and become a trader, it would be the most foolish thing to do. Nothing is that easy, but you have to use your experience first and when you gain full skills then start a business, it can be somewhat positive.

[LogitechMouse]

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Have you had any such experiences in your life?

Trading is not a job. It is an income source, just like a job. It requires time and knowledge, just like a job. But you will not be able to make a steady cash flow with trading. In fact, you may even lose money or not make money for a long time.

Having an assortment of income sources is important. Even a job alone is not a sure thing. You can lose it at any time for any reason.

I've seen traders online where even though they're profitable already in their trading career, they also have another source of income aside from trading whether it's property, or dividends or business. Most of them don't rely on one source of income yet - let alone trading which is we know isn't sustainable, and there's always a risk of losing money.

Trading for some could be a profession, some see it as a job, some it as a source of income, but one thing's for sure. Being profitable consistently in trading takes time, lots of skill, money and knowledge. Learning it alone (like me) will take you lots of time and money, but having a mentor could lessen it before you will become profitable. Whatever the case is, don't focus on trading alone, and as much as possible, find another source of income just in case things go wrong, and you unfortunately blew your account.