Should you quit your job to trade?

[kawetsriyanto]

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.

You were actually living on the right path. You had established job, you had saving, and you were capable to start investment. It was quite unfortunate that you changed your life because of greediness.

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.

Why you must quit your job for doing trading? You can trade after you finished your job, right?
Also, it is quite surprising that you quit before you gain any money from trading. Normally, people will stop it after they assume they get enough money from a new job. You were too hurry, leaving the job before you even started your trading. Well, I don't know what's happening but it is good that you have got a lesson from the mistake. I hope you will get a better job in RL soon.

Have you had any such experiences in your life?

No. I never have a bravery to leave my current job to an uncertain job. Especially for trading that only has a small percentage for the success. It can't be a safe source for regular income.

[cryptoaddictchie]

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?

Sorry to hear what happened about your job OP. I know how hard it is to avoid such temptations on trading especially when we saw some users showing off how good has been they on trading. Yeah like you mentioned earning millions and probably having the time of their lives. Who wouldnt want that? So I understand you completely why youre urge to jump with the same boat.

I had experience of this before but I had a scenario where I was considered on a very good job and I turn it down for axie infinity. Well that time the earnings is good for axie infinity. But it seems I regret that one missing out.

[knowngunman]

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 were lucky you made adjustments at the right time otherwise, you could have sentence yourself to early grave. Who in their right sense abandoned a well paying job to venture into a trading? That wasn't just greedy, it was abnormal way of reasoning. If you were greedy, you could have thought of doing both trading and still continue with your job at the same time. Trading is a risky means of survival so how did you even conclude to preferred trading where your survival is not guaranteed over your job that offers you peace of mind?

I would love to engage in this discussion but sorry to say that your decision making is so poor.

[jcojci]

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 were lucky you made adjustments at the right time otherwise, you could have sentence yourself to early grave. Who in their right sense abandoned a well paying job to venture into a trading? That wasn't just greedy, it was abnormal way of reasoning. If you were greedy, you could have thought of doing both trading and still continue with your job at the same time. Trading is a risky means of survival so how did you even conclude to preferred trading where your survival is not guaranteed over your job that offers you peace of mind?

I would love to engage in this discussion but sorry to say that your decision making is so poor.

He should starts from beginning and search for other jobs to have an income. He can't rely on trading to makes money as he need learns more about trading itself. He learned a lot from his mistakes so we can hopes that he will be better and solve his problem. Trading is not easy so they should learns without stop even if he have skills as the market will still continue. If he can gets new jobs, he have an income to fills his daily needs and he can trading to make a profit but don't repeat the same mistakes as that can makes him worst than before.

[Iranus]

Quiting a job requires some things to be in place before that decision can be taken to avoid any possibility of regret along the line, such as having an emergency savings that can cover up for your bills for at least 5 months while you try to figure out yourself in trading, because trading is not an auto pilot activities that give you profits, you need knowledge, skills and approach to profit in trading.

Is a 5 month emergency fund really enough? What happen if your emergency fund runs out, but you still can not make money from trading after spending 5 full month focusing on it?

In my opinion, quitting your job and turning trading into a full time job is a bad idea from the start. Because the trading is not guaranteed and cannot provide a stable source of income.

Giving up a stable income to chase something that look promising but has no guarantees sound more like gambling with your life.

[Ishicryptic]

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 will never quit my job for trading because I made quite a number of research and asked traders that I know on one on one basis if trading as a career is profitable and I was lucky that I was told the undiluted truth that trading is very risky and you can lose all your money in a matter of seconds. So when I see influencers on social media selling the idea that you can sit in the comfort of your home and be making thousands of dollars in trading I know that they want to make money from me.

These influencers will direct you to some link where you will get tutorials for a fee and that is how they scam people who are looking for where to make very fast money. If you want to be a trader it is better to do it as a side hustle meaning that you will have a job that is taking care of your financial responsibilities.

[Finebone]

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.

Such an emotional story, but it's a good thing that you learnt it the hard way, because at that point, if you are being adviced, you will never had listen, since greed have be cloud your sense of reasoning.

Have you had any such experiences in your life?

No, I will never even contemplate doing such because I have already come to understand that you don't trade understand pressure, and quiting your job will put you under pressure, which is not good for any trader, because since all your hopes of making money is in trading, you are going to trade uncontrollably, and even be taking trade you are not sure of just because an important financial needs is staring at you on your face, so quiting your job for trading is not a wise thing to do.

[DanWalker]

The golden rule of trading and investing for me is to invest money I can only afford to loose. Leaving my job to perform a risky operation is not the way I’m doing things.

This is the golden rule in financial investing, and it existed long before the crypto market emerged.
Investing inherently involves risk, so only investing money you can afford to lose is a fundamental principle everyone should follow. But in reality, not many people can do that. Most people are too greedy and blinded by their unrealistic expectation.

Going all in on Bitcoin or quitting your job to pursue trading full time are both bad idea. Those who are doing that is going against the basic principles of investing.

[amihada]

You must be fully aware that the lure of trading on YouTube has a magnetic appeal. The desire that arises after watching the story of a successful trader who makes a lot of profit is just an illusion because not all traders can be that lucky. Now you have to learn from experience after losing a lot of money, trading is not suitable for everyone especially for beginners. If you want to stay focused on crypto assets, you need a more thoughtful plan before starting again.

[Cgrexp]

He should starts from beginning and search for other jobs to have an income. He can't rely on trading to makes money as he need learns more about trading itself. He learned a lot from his mistakes so we can hopes that he will be better and solve his problem. Trading is not easy so they should learns without stop even if he have skills as the market will still continue. If he can gets new jobs, he have an income to fills his daily needs and he can trading to make a profit but don't repeat the same mistakes as that can makes him worst than before.

Relying solely on trading for a living is risky. Trading is a highly skilled job and the chances of profit here are uncertain, so we need a job to earn a living that is sure to pay us back. So we need a job that can meet our daily expenses and manage financial stress. However, those who want to trade should start by learning and gaining experience. Because trading without a plan and relying solely on luck becomes like gambling. While trading, one should accept the fact that it is not possible to make a profit in the long term. A stable income gives us financial security. Therefore, one should not completely depend on trading except for a stable income. And while trading, one should prepare in such a way that even if it is lost, it will not disrupt the stability of daily life.

[tvplus006]

Relying solely on trading for a living is risky. Trading is a highly skilled job and the chances of profit here are uncertain, so we need a job to earn a living that is sure to pay us back. So we need a job that can meet our daily expenses and manage financial stress. However, those who want to trade should start by learning and gaining experience. ..

If you realize that you have already achieved success in trading and regularly receive a profit that allows you to support your family and not feel a budget deficit, then you are undoubtedly a professional trader. In this case, you can trade independently with your own funds or get a job at a prop company or hedge fund.

[7juju]

But nothing stopped you from working and  trading at the same time, why quit you job because of something you haven’t given a try to know if you will succeed in it or not. There’s no where it is said that someone that’s working should not trade. Not that you have mastered the trading and already earning from it to make such a rash decision. You only quit your job when you certain that you have earned more than your job will pay you in 5 years or 10 years time from the trading. YouTube video and reality are never the same thing. Glad you learnt your lesson already and am sure you make such mistake in the future.

[Byebyebtc]

Trading can be a your full time work, but it depends on how far and how profitable you have grown in trading.

Apart from how profitable you are you have to have a very significant amount of money in your account before taking such decisions, a friend of mine says profitability and $50-$60 k is enough for him to totally quit his Job, and I feel that that is fair and stable, as long as your profitable your good to go all in

[Mr Reporter]

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 were lucky you made adjustments at the right time otherwise, you could have sentence yourself to early grave. Who in their right sense abandoned a well paying job to venture into a trading? That wasn't just greedy, it was abnormal way of reasoning. If you were greedy, you could have thought of doing both trading and still continue with your job at the same time. Trading is a risky means of survival so how did you even conclude to preferred trading where your survival is not guaranteed over your job that offers you peace of mind?

I would love to engage in this discussion but sorry to say that your decision making is so poor.

This is why it best to also not rush into taking action like that because most at time having not to rush to do something might later be the savior of the day…well if it was me honestly speaking I would never open my mouth to say I’m leaving the job but rather you can even make or change something back to the topics fully well the truth still never change that don’t depend on just trading no body no what the future holds against us sometimes life can be very hard and difficult.

[Su-asa]

Trading should never be seen as a main source of income because the market isn't always predictable, in other words you must be ready to fail at anytime. Your job is going to give you a fixed income and this is something you should not joke with because trading doesn't always have a guaranteed outcome, no matter how strategic you think you might be you are going to incur losses at some point, this is the reason why you need to have a main source of income that keeps you going,  in as much as trading is profitable I don't think it can be a reliable source of income. It was a bad idea to quit the job you had all because you thought you could get rich from trading

[LogitechMouse]

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?

Sorry to hear what happened about your job OP. I know how hard it is to avoid such temptations on trading especially when we saw some users showing off how good has been they on trading. Yeah like you mentioned earning millions and probably having the time of their lives. Who wouldnt want that? So I understand you completely why youre urge to jump with the same boat.

I had experience of this before but I had a scenario where I was considered on a very good job and I turn it down for axie infinity. Well that time the earnings is good for axie infinity. But it seems I regret that one missing out.

Bringing back Axie Infinity yet again. It reminds me of how big the revenue we are getting during it's peak where we can earn way more than the minimum wage earners here in our country. We have almost the same experience because here in our place, I had an opportunity to work as a government employee, and looking at it, I expected that I can work there for years, but I turned it down as well because of Axie Infinity.

Anyway, if there's anybody here that has the same thinking as OP, please don't do it. What you're seeing online might be just an illusion, and there's a chance that it's fabricated, and edited especially now that it's very easy to fake things online with the help of AI, you might see some PnLs out there that isn't real at all. If you have a stable job, please stay there especially now that we are in a crisis. Right now, stability is the best thing that we can have and that includes having a stable job in order to survive.

If you're newbie in trading, I'm not saying that you should not start, but just trade with the money that you can afford to lose.

[puloweh555]

No. In fact quitting your job just to focus on trading is a wrong and fatal decision. It's better not to quit your job because it's safer and more financially stable to continue working while trading. The reason why full-time trading is often high-risk is because trading isn't a fixed income like a salary. In trading you can make large profits in a month but you can also experience losses in the long run which can be extremely stressful especially if you consider trading a source of income.

Your best advice is to continue working while trading. This will improve your financial stability. For example when you receive a salary it can cover living expenses and an emergency fund. You must have the mindset that trading is a bonus or a means of increasing wealth, not your sole hope. Furthermore, when you have a job while trading you won't experience the immense pressure that can make you undisciplined in trading and irrational because you panic about losses.

[Zigabel]

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 watched several of those videos, some are even for investment and some for crypto trading, there are also others for currency trading  but it is always important we understand that these people do not show you exactly everthing there is, and you cannot get to their position in one day, that's for the true ones. Of a truth, those videos does sell out some false hopes which you may not understand. You may only get to see these false hopes when you carefully watch the videos. Trading is something you can actually do full time if you want to, but you must make sure not to rush into it, taking your time to make that conscious decision is very important. Even after making the decision, you must also make sure to make moves for the efforts.

If you have a good paying job, it is best not to quit it for trading but to see how you can simultaneously do them together and with time you can decide to pick one, trading probably, this is when you have attained a certain height in trading that you have good funds on ground and can be sure you are profitable trading enough to keep you going for as long as possible, Trading alone as a source of income come with a lot of work to be done to attain that level of which quiting your job for it at a time may not be the best thing to do.

[BABY SHOES]

Trading should never be seen as a main source of income because the market isn't always predictable, in other words you must be ready to fail at anytime. Your job is going to give you a fixed income and this is something you should not joke with because trading doesn't always have a guaranteed outcome, no matter how strategic you think you might be you are going to incur losses at some point, this is the reason why you need to have a main source of income that keeps you going,  in as much as trading is profitable I don't think it can be a reliable source of income. It was a bad idea to quit the job you had all because you thought you could get rich from trading

There is nothing wrong for them with trading can be made the main source of income because they may already have skills in trading and also long experience... there is also a matter of risk of loss that is definitely their own stay how to minimize so that the loss is not too big, because even investment always has its risks, there is no word free from risk.

The question of them leaving their main job or not is up to them to come to a conclusion ... because I myself am sure that the decision made means that it has been carefully thought out, there are people whose full source of income is from trading which is done every day, and only I am not ready to go there.

[Patikno]

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 can quit your job and start trading if you are financially stable, meaning you can generate "passive income" from your investments. The problem for most people is; you can't quit your job to trade unless you have an active income, meaning you have to work to earn it. This is because, you will have a very difficult time if something unexpected happens, especially if your trading journey isn't as smooth as expected.

By the way, I have a friend who is older than me, and he is an active trader. He was previously quite successful trading, and had generated a substantial income (he didn't have a primary job), but at the beginning of this year, he lost everything. He had to start from scratch to recover, and the problem was: he certainly struggled to recover quickly, because he had no active or passive income. In the end, he was forced to look for work to be able to return to trading. Therefore, we can learn from his experience: we must carefully consider what we are currently doing and what we will do going forward, especially when considering all possibilities (including considerations).

Personally, I consider trading only as a source of side income, and cannot be considered it as definite income. In essence, trading requires capital. So, where do you get that capital to start trading? I hope you understand, after reading my explanation.