Should you quit your job to trade?

[shawonngp]

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.

[abaeze]

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?

I have seen many such videos but I have never been so stupid as you to quit my job. Most of those who make such videos have no experience of being successful through trading. Therefore, it is safest to earn the income needed to lead a normal life from other sources and trade with discretionary income. Because investing in a high-risk area like trading is like gambling which does not always work according to patterns, statistics or plans. I pray that no one watching this video will face such a bitter experience. Because it will bring sorrow to not only your life but also to your family members.

[Rruchi man]

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

This was your first mistake and will be the first mistake of anyone who is considering doing the same. You do not quit your job for trading because you need a source of income to be able to trade comfortably and not under pressure.

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

False hope is still packaged and sold every day to new people interested in trading by people who have intentions to make money from them, and they are still buying it as you bought it. Real traders will tell you the truth about it; there are also losses as there are gains; trading is not all joy.

[Royal Cap]

Although I have not had that experience myself. But I have heard many stories like this on various podcasts on YouTube and Meta platform. And most of them were victims of futures trading. So I think you are not alone in your situation, many people have been like this. One thing I want to say is that people always present their best. Just like you are inspired by watching videos on YouTube, but here that content creator has shown his best profit, but he has not shown his loss in the same way. So I would say that making trading a full-time job without having your own passive income is a difficult task

[aoluain]

Isnt youtube great? we can learn to do anything just by watching others are by letting ourselves
get influenced by others.

There is no way I would give up my job in order to go trading in Bitcoin, purely because I know
exactly how the market can move for no reason and for any reason. I also realise there are others
out there who have the power to move the market just enough to liquidate trades.

The OP went about trading in completely the wrong way, he should have tried trading before
giving up the well paid job! then he would have realised trading wsdnt for him and continued
earning a salary.

[el kaka22]

This is one of those questions where only the person can answer. For example, should you quit your job and start working on making shoes and selling shoes? Normally if you ask any of the ordinary people they would say no, why would we say yes, I have no idea about making shoes, and I have no idea about selling shoes. But I bet you that there was a person in the world, either alive nor or maybe passed away, who quit their job and started a shoe business and got rich.

Hence, I would say that it's quite obvious this answer also depends on the person as well. If we tell that 100% of the people should avoid doing this, we are telling at least one person who would be good at it. So let people try whatever, if they fail, they know that they should go back, if they succeed, good for them.

[Alphakilo]

This is one of those questions where only the person can answer. For example, should you quit your job and start working on making shoes and selling shoes? Normally if you ask any of the ordinary people they would say no, why would we say yes, I have no idea about making shoes, and I have no idea about selling shoes. But I bet you that there was a person in the world, either alive nor or maybe passed away, who quit their job and started a shoe business and got rich.

Hence, I would say that it's quite obvious this answer also depends on the person as well. If we tell that 100% of the people should avoid doing this, we are telling at least one person who would be good at it. So let people try whatever, if they fail, they know that they should go back, if they succeed, good for them.

Afterall, what's the meaning of life if we don't try at all and regret it in old age. So many people have had to quit their jobs to pursue better endeavors like entrepreneurship or sole proprietorship or even join ventures, just to give a shot at being rich and wealthy and free with how they spend their time to make money.
I would say consistency beats all and the ambition to succeed should be the driver to success, because there will be hurdles and pitfalls to navigate.

So if one has a mind to quit their jobs to trade or pursue any other business ventures, they should sit and give it a careful thought by weighing the pros and cons before making up their final decision.

[icebar]

This is a very unfortunate decision because you have given up your stable source of income and become dependent on the uncertainty of trading. Most people take financial risks in trading just because they can make big profits in the short term. Also, you should never try to imitate others by seeing them make profits. Trading requires planning, analytical skills, risk management, and experience. So, there is no guarantee that you will also be able to make profits just because someone is training. Also, no matter how well a person analyzes, it is not possible to sustain successful in trading in the long term. We need a means to earn a living from which we will get stable income. However, those who choose trading as a means of income basically put their financial stability in uncertainty. Therefore, if someone wants to trade, they should do it with money that will not affect their personal life if lost. And trading can be done with capacity and risk management along with stable income. Choosing trading as an alternative to stable income is a risky decision.

[Gozie51]

Have you had any such experiences in your life?

The grass is always greener from the other side and that is what happened to you. You didn't need to quit such good paying job because of trade that stii uncertain. People still combine trading with their daily work.

I have not experienced it before that I will quit a high paying job because of uncertainty in trade. The process of learning, demo practice and actual trading is important. There is no need to throw out everything you had because of the chase of what you are not sure

[Ziskinberg]

Luckily, I'm also into trading but  I was able to  manage my greed, and I clearly understand that trading will never guarantee regular income, so its never a wise decision to leave your job for the sake of trading. Trading is supposed to be a side hustle, not a main source of income, because it can never give us like what a regular job can offer.

But I should say, there are those who go extra mile with trading, and that's never coincidence, they really worked hard for it. However, we should also note that trading is not for everyone, and what works for others may not be working for you. So never make impulsive decisions and rush into trading, majority have regretted that decision.

[Abu-Naim]

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.

Crypto trading is very risky due to market volatility, it’s hard to learn and hard to understand because it consists a lot techniques which one need to understand before you can because a successful trader. Some of these traders and influencers are not saying the truth mostly in their interviews, and even if they said the truth, they have passed through so many learning processes which so many newbies can’t have that time to learn all the techniques behind trading that will make them successful traders they are I’ll rather follow shortcuts because they are after quick money which lead them to losing money always.

Quitting your job to rely on trading completely is very wrong, you should have been taking some percentage of your salary to be trading in investing in Bitcoin until you have the full experience before you venture into it completely and make a decision of relying on it completely as your only source of income. It is advisable to even take it as your alternative source of income even if you are well knowledgeable and experienced about trading.

[terrific]

I don't have an experience of believing to the lies and false promises of the influencers. I know that they do it for clout.
But if you're not aware of it, they are convincing and they want you to follow what they say.
Yet, the results are not guaranteed and so if you have the knowledge of trading. You better stand on your own and rely to yourself.
You know how to make strategies that will be profitable to you and also, how to gather information from your surroundings if you're a fundamental guy.

[Asiska02]

You really made a big mistake to leave your job and want to start trading. Can’t you see how risky trading is before taking that risk and missing out a big opportunity of still having your job ongoing. Even if you’re trading, I don’t advise one to leave their job to trade. Trading without a source of income will only end you into losses. You can’t make it in trading overnight, you have to keep trying and by doing so, you need a job to help you fund again and again to try trading out.

Now, you’ve lost your job and you’re still here struggling with trading. That was a big mistake and I hope while taking such a risky move, you ask people around you that know about trading in order to guide you more. No one will ever advise you to leave your good job to trade, never fall for that because they don’t love you for giving such an advise.

[SamReomo]

Have you had any such experiences in your life?

Yes, I've lost good amount of money during initial years when I used to trade wrong coins but after many failures I learnt that there's money in crypto market and only those who do it the right way will make profit in long term.

I started reading more about Bitcoin trading and that's where my losses stopped and I slowly recovered the losses and thankfully I make profit here and there from trading.

I won't say that the profits from trading are enough to replace my job but still those are good to enjoy sometime without caring about financial issues.

For me an extra $50-$100 per week from a trading account is enough and sometimes it's more while sometimes I earn nothing for a week or two but surely the ones with proper trading strategies and patience can make some money as traders.

[Powerjumboo]

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?

I would say you did a really stupid thing because you should never have left a good job to trade. When you liked trading so much and you were hoping to make quick money from it, you should have thought and traded for a few days to see if you could make a profit here. You decided to quit your job without analyzing anything and without gaining trading experience, which is why I would say there is no other stupid person like you.

You may be very sorry for your mistakes but I can see one thing very clearly that you have not learned much about trading so whatever you do in life, you should definitely see for a few days before making a decision and never make such a decision. I have never made such a decision like you.

I participated in the trading platform but very carefully and with a small amount of money because I consider the trading platform to be very risky and not the best way to earn.

[tvplus006]

...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...

Your main mistake was that you quit your job wanting to trade professionally, but you lacked knowledge and experience. Before quitting your job, you need to achieve a stable profit in trading for at least several months and that the resulting profit could cover all our expenses. Nevertheless, many people consider trading as an additional income, and in this case we should not quit our jobs, since it is the salary that allows us to meet our needs.

[Popkon6]

You cannot make the mistake of choosing trading, where you give up the opportunity to earn income and lean towards trading. Of course you are a person addicted to trading because you started trading because of the greed for money, trading has the highest risk and there is also a possibility of losing your capital. But in this case you can invest in Bitcoin, because Bitcoin investment is the only reliable and long-term way if you can invest then you will definitely be successful. So you go back to work and earn money, this time excluding the basic expenses and with the remaining money you will invest in Bitcoin weekly or monthly. By investing for a long time, you will definitely be able to grow your portfolio. And when the bull market comes, you will definitely be able to achieve huge financial benefits.

[SamReomo]

Your main mistake was that you quit your job wanting to trade professionally, but you lacked knowledge and experience. Before quitting your job, you need to achieve a stable profit in trading for at least several months and that the resulting profit could cover all our expenses. Nevertheless, many people consider trading as an additional income, and in this case we should not quit our jobs, since it is the salary that allows us to meet our needs.

Yes, that's a big mistakes that most newbie traders do, they think that they can earn so much from trading that a physical jobs isn't needed anymore. Same was the mindset of those who left their jobs to begin freelancing and in end they made nothing but lost their main source of income.

A trader should only go fully into trading if he/she has good capital in his/her trading account and also he/she is good at trading and is a profitable trader. Watching inspiration videos won't help one to be a good trader either.

A good trader first learns about trading properly and then build a proper trading strategy and a trading plan and ten such a trader overtime will start making profitable trades.

[GreatArkansas]

(....)
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, this is a very common thing, and mistakes of most people who start trading, they are lured by these so-called "influencers" about showing only their profits or some edited balance or winning trades, where most of them just promote some exchanges, affiliates/referrals, or some scam projects.

There's nothing wrong about trading as full time job, I know a friend that he dont have any corporate job, but I believe most of his source of income is just trading, so I can say he is now full time trader and he is good on it and making money for sure, but he started on that after he lost his job, he didn't gave up his office job before just to trade full time.

[crwth]

I mean, it depends on you, but being a beginner in trading would make it harder for you unless you become adept or an expert at it. But you know that it's not always going to be a matter of expertise.

If you were ever to do that, or if someone were to do that, I suggest having an emergency fund that you would need to fund for at least 3 - 6 months to make sure you have a safety net. It's hard not to have it, and you might regret not having it. Plus! Addition towards you having consistent profitability with your trades.