Should you quit your job to trade?

[vs2014]

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?

[Strongkored]

I often see videos like that but it no longer triggers me to quit my current job because of experiences from a few years ago, even trading is not like what people say in those videos, because there are many things they do not reveal, since if they also revealed the losses, it would not attract many people to keep watching their videos, and perhaps their main income is not from trading but from the videos themselves.
Don't trust 100% of what is shown in the online world, much of what is conveyed is just false claims.

[BitMaxz]

That's a terrible decision. You are too young to make a living through trading.
If you have a well-paying job, why would you suddenly switch to trading without a long experience? Everything on YouTube guides is not a complete guide to trading; all they share is the basics.
You need years of trading experience before you can make a profit, or you must follow strict rules, conditions, and risk management, which are not included in YouTube guides.

You must look for a strategy that works for you and create your own conditions. That is why there are some tools you can use to gain experience quickly, such as backtesting and replay.

I've never done this, but I do trade, and there is no guarantee that you'll win every trade. If you can maintain at least a 40% win rate with a 1:2 RR, you will be profitable in the long run, but how do you do that? That's what you need to look for.

Study first, and I recommend using https://gocharting.com/, which is free. Use the replay feature to test some strategies with no capital or using their paper money.
Build your condition before you entry make strict rules, like never ever overtrade, and then the most important part to stay long in the market is risk management, such as limiting your trade risk to 2% of your capital and using a stop-trail.

Once you find your working strategy, maintain it and improve it until you learn how to avoid mistakes.

[_act_]

But I learned a lot from my mistakes that will help me do better in crypto in the future.

Hope the lesson is not about you are now better and knowing how to trade and make money from it? Some people thought like this but they continue to lose.

Have you had any such experiences in your life?

No, I cannot quite my job because of trading, I prefer to continue my job and also trade. Trade has not been profitable for me the way I expected it to be.

[Agathamay]

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?

there shouldn't be any reason for anyone to quiet there job and go fully into trading especially as a newbie as that might end up being a dead trap.
@op, i must tell you sincerely that you made a big mistake of ending your job for trading because your job would have been your back up source of funds for your trading journey but nevertheless, i'm glad that you said that you already learnt your lessons and i have also learnt never to follow the hype from self acclaimed trading gurus.

[WatChe]

No, I cannot quite my job because of trading, I prefer to continue my job and also trade. Trade has not been profitable for me the way I expected it to be.

If you have a stable job then its very risky to quit your job just because you think you can earn same or more money from trading. A better approach will be to continue your stable job and do trading as side business. That approach will help you in increasing your net income which in tun will help you in improving your living standard. Trading is a risky stuff and if you are doing trading then you have to ensure that you have a stable income that feeds you and your family in case of loses in trading.

[SOKO-DEKE]

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 is always bad to take a decision based on one side. Sometimes, it is because you watch YouTube and see people claiming they are making millions that is what motivates you to quit your job and go into trading, without also researching the negative side of it.If you had done proper research about trading, you might not have quit your job for it. Let acknowledge that while there are motivational videos about trading, there are also YouTube videos that tell the truth that trading is risky.The point is that most of those YouTube influencers have other sources of income. For example, they earn money from their YouTube channels. So, that is why, when we want to make any decision, we should not focus only on the positive side. We should also consider the disadvantages, compare both sides, and then make a decision.

What has happened to you almost happened to me before, but I was lucky because I did proper research first. When I was in school, I had a friend who was trying very hard to convince me to become a trader. However, I realized that I was still in school at the time, and it was my final year.So, I considered the risks I would be taking if I started trading. I did my research, and I was not convinced enough to begin. It is very possible that if I had started my trading journey, I might have dropped out or not taken my studies seriously.I know that once I started trading, I would have been less focused on my education, and by now I might have been regretting that decision.

[Marvin_]

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?

Imagine that a day has 24 hours.
You work for 10 hours and sleep for 8 hours, leaving you with 6 hours to do anything else.

If you stopped giving 10 hours to work for a salary,
would those 10 hours, if you put them into trading, earn you a higher income than your salary, and is that too much time to spend on trading?
Do the maths: if trading is always profitable without any loss on your total capital,
You will find that you should spend those 10 hours where they are best spent

[Fivestar4everMVP]

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?

Well, I actually quit my job which the salary wasn't bad, but also wasn't that good as well, I discovered crypto in 2016 and in 2017, I quit my job in the polyethylene company where I was working as a heavy duty machine operator to focus on crypto, but I was very sensible with my approach..

I had saved up some money, and coupled wit another small  amount of money I made from crypto in 2017 through airdrops and bounty campaign from this forum, I quit my job and used that money to start up a small business, and also bought a tricycle which I used for public transportation, my wife was to be managing the small business, while myself will be using the tricycle to work during the day and make money on daily basis with which we feed and also invest in our business, while I spend most of my Nights learn how to trade crypto..

With this strategy, my quiting my job in that company was indeed a very wise decision because even though I still lost money while I was learning how to trade, I did not feel it much because both the business my wife was managing and the tricycle I was using for transportation was fetching us money.

[joeperry]

I'm sorry to hear what happened to you and I just hope you've learned your lesson. Leaving your job to trade is very risky decision, though I really admire your bravery but being a good trader and earn passive income doesn't just happen in just days or weeks of watching videos, it takes a lot of practice, skills and patience in order for you to be successful in trading, and not only that, you should also consider that there are times where bad trades or consecutive losing. Having a job is like a safety net if you are doing trading, in job, you have nothing to lose aside your time and effort doing the work and you'll earn, but in trading not only it would consume your time but also there's an uncertainty since there's a risk that you will lose money instead of earning it.

[hd49728]

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

Having jobs is important is it can help you getting money regularly and kind of discretionary income. If you quit your jobs and start something else like investment or trading, you no longer have that regular and discretionary income, so that it will result in more pressure on you. As you will have to work in another way like either investing or trading, in order to have money to use.

Investment is not easy but trading is harder and more dangerous than investment. Even quitting your jobs for investment is not recommended, if it is trading, the answer is 100% should not do that. It's because most traders have loss and you can not assume and be very confident that you will be profitable trader. Your confidence does not decide you will get profit from trading, so don't quit jobs for going to trade full time just because you're confident about your trading capability.

[Danica22]

Have you had any such experiences in your life?

No, I cannot quite my job because of trading, I prefer to continue my job and also trade. Trade has not been profitable for me the way I expected it to be.

Even if you are making significant profit, quitting your job to become a full time trader and relying on it is a bad idea. Because income from trading is unstable and not guaranteed. Just because you made a profit this month does not mean you will do it next month or the months after that.

Trading should not be considered a stable job, but only a supplemental source of income, as it involves high risk.

[bangjoe]

My friend did just that, he decided to trade and focus on it by giving up his job without further consideration, I agree this is a wrong and stupid decision, because it cuts off your income, on the other hand you are just learning to trade whose profits cannot be ascertained, how can you have trading capital and can survive if you do not have income, you should prioritize the main income first, after having very good skills so that profits are more consistent in trading then you can become a full trader.

[rezakurnia66]

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?

In my opinion, don't quit your job exactly you earn much salary and don't fully trust about video you watched at Youtube because not fully true how easily earn much money from trading. I don't think bad ideas if you want to start trading in cryptocurrency but don't quit your job because trading is flexible activities and you can do it anytime or anywhere. Its bad decision if you want to quit from job have guarantee with more enough salary by focus at trading can't guarantee every time you can earn much profit.
You have more enough time controlling well between trading and your job desk its not require for leaving your job, do it together because trading not spent us much time have focus at the market every time.

[As-Soon-As]

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?

You have made a big mistake in your life by quitting your job, and secondly you have made a mistake by trading in unreliable coins. Because you are a greedy trader because you have entered into trading with the intention of earning money and this trading has the highest risk. At present you can relate to Bitcoin investment, because Bitcoin is reliable and has been surviving in the market for a long time with reliability. So if you relate to this Bitcoin investment then surely you can eliminate future financial shortage. Therefore long-term Bitcoin holding is the best idea.

[Dr.Bitcoin_Strange]

That was a tough experience for you mate, personally I don't fall into such kind of situation, about that, I give credit to how I was raised by my grandparents. There's one quote that my grandma likes to say, " A cloudy sky doesn't mean that rain is going to fall that day, so do not throw away the water in your tank." You know what that means? You should not let go of an opportunity unless a bigger opportunity is already on your hands. What you did was to quit your job when you have not made consistent profit in trading for at least 6 months to 1 year. Before I'll quit anything else and focus on trading, I must have stayed profitable for a long period of time and I must have also made a specific amount of profit.

[AakZaki]

Never quit your job because you feel like you can trade Crypto. Unless you can already make consistent profits from that trade.
I have worked in the company for approximately 10 years besides that I have been trading with fairly consistent profits, but due to discrimination in the job I decided to quit.

Luckily because I have mastered trading, I don't look like I have a job like most people at the moment. but behind it is trading that fulfills my current life, working at will in front of a computer and not having a boss to obey.

In fact, I allocate some of the trading proceeds in sugarcane farms and employ someone, so that I have other passive income.

[Pandu Geddon]

For some reason, videos about someone’s success story can always inspire us to succeed in the same path. Even though after trying, we realize that everything is not as easy as we thought. 
If you are in a rush to leave your job to become a trader, you certainly also need to consider the risks. Especially if you are a beginner, it would be a foolish step to believe you can make money from trading easily. 
We can still learn to trade while continuing to work. We need capital to trade, so don’t be crazy to quit the job that is our only source of income.

[rat03gopoh]

Influencers and content creators only present the attractive side, but you know their advice is actually bait. They're more dangerous than paid signal groups because they don't limit their audience.

Like it or not, consider yourself a victim of the get-rich-quick scheme of trading and choose to sacrifice your profession.

[Wiwo]

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?

This is a terrible experience amd I must say that tou made a big mistake by letting go of your well-paying job to venture into trading,  cryptocurrency trading is a high-risk investment and the probability of you losing everything is very high and for that reason,  you are already at risk choosing to trade talk more of when you now quite your well paying job to focus of trading as your main income channel's,  of course you will lose and also end in regret like this right now.

Most of those YouTube influencers are paid just to get your attention and make you lose money,  don't take them seriously.