Should you quit your job to trade?

[shawonngp]

You can quit your main job only if you have already earned a lot of capital, which will allow you to live carelessly on bank interest or on dividends from purchased shares. But to do this, you must either be a good trader or have a high-paying job.

I don't think we need to quit our main jobs although we have bank interest or some kinds of assets. Unless we are already above 60 years old, it is better to keep working as usual. We need to optimize our ability as long as we are in productive ages to work. It is one of the kind of our responsibility of our ability given by the God. We hope to give contribution as many as possible in this world.  

I agree with you. Even if we have enough capital and assets, we should be involved in some work. Some of us do physical jobs, and some do online jobs. If we are physically fit, we should definitely do the job, because now there may be enough capital. But in the future, you could lose everything, so as long as we can do physical work, I think it would be a mistake to quit. Many people in our country continue to work even after 60 years. If the company allows it, right working is a great way to stay productive.

[ChocolateBitcoinK]

One of the reasons why it is not wise to rely on trading is that trading can't be predicted; there is a lot of uncertainty in trading. There are daily expenses that we can't just push aside without solving, and with this, you can't just rely on trading...

You can quit your main job only if you have already earned a lot of capital, which will allow you to live carelessly on bank interest or on dividends from purchased shares. But to do this, you must either be a good trader or have a high-paying job.

I agree with you, at least without a good financial base and support, if we leave our job empty handed, we will be ruined. We need to have a source of income, if there is no source of income, even if you have money right now, that money will soon run out. So if we do decide to leave the job, then we need to create a source of income instead of that job, which will definitely pay us money after a certain period of time.

We should understand that financial backup does not just mean having some cash capital, but it is a base that will continue to bring us regular income, from which we can meet the basic expenses of our life well.

[Lannakosa]

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 too complex for me to want to make it my main source of income. But I like trading as one of the activities I can do. So for me, trading is more of a hobby than a way to earn money. Quitting your job for trading is definitely not a good idea, because trading will not provide you with a stable fixed income every month.

[TheUltraElite]

Trading is too complex for me to want to make it my main source of income. But I like trading as one of the activities I can do. So for me, trading is more of a hobby than a way to earn money. Quitting your job for trading is definitely not a good idea, because trading will not provide you with a stable fixed income every month.

Trading mostly ends up being a loss unless you are going for the long term. For that it remains mostly a hobbyist thing only. The people who are day trading will have losses incurred and debts on their head. Without a stable job or a left job, they are going to be in trouble.

I never recommend people to sell their land or sell their house or leave their job to trade, because it is an absurd and illogical thing to do. That job is the reason for the steady income, why kill it when you can run both parallel - that is of course true only if you are not doing day trading.

[Jody.Drummer]

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 too complex for me to want to make it my main source of income. But I like trading as one of the activities I can do. So for me, trading is more of a hobby than a way to earn money. Quitting your job for trading is definitely not a good idea, because trading will not provide you with a stable fixed income every month.

Actually, in my opinion, it’s not advisable to rely on trading as your primary source of income. Even though profits can be made through analysis, it’s true as you said that it’s too complex. It might make more sense to treat it as a side income. Quitting your main job which provides a steady income to trade is too risky and could even be considered a bad decision. It’s best to make such decisions carefully, because as you said, trading won’t provide a stable income.

[ChisomP]

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?

OP, this is actually a strong life lesson, the number 1 thing worth noting is that, not everything we see on the Internet are true, most are edited and exaggerated, some are out right lies, so be careful out there, it is a good thing that you have taken the lessons and try to do better henceforth.

[nara1892]

Quitting your job to get involved in trading is the most ridiculous decision in my opinion, but yes, maybe some people don't know the reason, trading is not a get-rich-quick scheme, there is no guarantee that you will always profit at the end of the session, almost the same as other types of work in general, but trading is much more difficult and complicated because you have to be able to really manage money well and also manage your emotions, one thing I worry about when you try to quit your job to get involved in trading is what if you experience a big loss while you are in a situation where you need money for living expenses? Of course, this will be a terrible situation, so first understand what trading actually is before you make a decision.

[Royal Cap]

Quitting your job to get involved in trading is the most ridiculous decision in my opinion, but yes, maybe some people don't know the reason, trading is not a get-rich-quick scheme, there is no guarantee that you will always profit at the end of the session, almost the same as other types of work in general, but trading is much more difficult and complicated because you have to be able to really manage money well and also manage your emotions, one thing I worry about when you try to quit your job to get involved in trading is what if you experience a big loss while you are in a situation where you need money for living expenses? Of course, this will be a terrible situation, so first understand what trading actually is before you make a decision.

Exactly, if the income is not stable, the pressure increases a lot and it becomes difficult to make the right decision under that pressure. But I also think that the same rule is not for everyone, If someone has learned trading for a long time, made consistent profits, and has a good savings or backup fund, then it may be logical to gradually go full time. But quitting your job suddenly is really dangerous, In my opinion it is better to prove yourself on the side first, and then make a big decision.

[GiftedMAN]

I agree with you. Even if we have enough capital and assets, we should be involved in some work. Some of us do physical jobs, and some do online jobs. If we are physically fit, we should definitely do the job, because now there may be enough capital. But in the future, you could lose everything, so as long as we can do physical work, I think it would be a mistake to quit. Many people in our country continue to work even after 60 years. If the company allows it, right working is a great way to stay productive.

One thing about life is that, people can't always be in trading or any other related crypto, because there are some persons that love doing manual work than online work, even though the work might be stress and pressure but still stick to it and are satisfied with it. And also before one can decide trade or combine the two, they should be sure that they have the ability to control their emotions when pressure are high, which they won't have to make decisions that will not affected them positively.

[M47AK16]

There are some people who don't want to learn crypto trading but other traders results is attracting them to leave their job to join trading, which is not a good idea any new trader should develop, because when you show interest of learning crypto trading before involving money on it, it will help you to earn what will make you to focus on crypto trading. A lot of people have followed those social media traders without achieved a good result from their trading, because those mentors on social media are not real mentors that will impact you to become a professional in crypto trading, and some of them cannot even showcase their profit to those they are impacting crypto trading.

This is decentralized currency which you can learn it on your place of work to achieve the knowledge to improve in crypto trading. You don't allow anyone to tell you to quit your job before you can learn to understand crypto trading which is not true unless you feel like concentrating on crypto trading only.

Well, there is nothing wrong in trying to become a full-time trader as long as a person understands that they can earn more money from trading than they are earning from their current job, however, being confirmed beforehand is important.

You can't leave your job first to try your luck in trading, because if trading doesn't work out for you, you will be hanging in the middle, because you also won't have a job now and won't also be making any money from trading, which is why before taking a decision, one should make sure that they are actually able to do it.

Learning from your workplace or at the time when you are working might not be a good idea, but when there is free time, one should start spending that time in learning trading, and once they learn enough, they should start making trades, without leaving the job. This way, they will be able to examine their results and find out if they are actually doing good in trading or not. If the results are satisfactory and they realize that they are able to make good money from trading, then they can decide to leave the job, but if the if it's the other way around, they should simply continue with the job.

[Issa56]

Trading is too complex for me to want to make it my main source of income. But I like trading as one of the activities I can do. So for me, trading is more of a hobby than a way to earn money. Quitting your job for trading is definitely not a good idea, because trading will not provide you with a stable fixed income every month.

Some people see trading as an easy task, most of the people that you going to see them leave their job just because they trading don’t even have much knowledge about trading, some of them depends on trading signals to trade, and they still going to leave their job. Trading is not so easy, and if you are not careful you can easily lose everything you have when trading, you won’t have choice than to start afresh.

If you have another source of income, you won’t be so desperate to make money from trading, at least you have other means which you earning, which you can be using to take care of yourself, but whenever you are desperate to make money from trading, sometimes you just going to make wrong decisions, you won’t want to stop trading even when you are suppose to stop.

[nara1892]

Quitting your job to get involved in trading is the most ridiculous decision in my opinion, but yes, maybe some people don't know the reason, trading is not a get-rich-quick scheme, there is no guarantee that you will always profit at the end of the session, almost the same as other types of work in general, but trading is much more difficult and complicated because you have to be able to really manage money well and also manage your emotions, one thing I worry about when you try to quit your job to get involved in trading is what if you experience a big loss while you are in a situation where you need money for living expenses? Of course, this will be a terrible situation, so first understand what trading actually is before you make a decision.

Exactly, if the income is not stable, the pressure increases a lot and it becomes difficult to make the right decision under that pressure. But I also think that the same rule is not for everyone, If someone has learned trading for a long time, made consistent profits, and has a good savings or backup fund, then it may be logical to gradually go full time. But quitting your job suddenly is really dangerous, In my opinion it is better to prove yourself on the side first, and then make a big decision.

Of course, this decision can be very dangerous. I'm also a trader, and I've experienced several periods of bankruptcy due to emotions that were truly difficult to control. This is a natural, subconscious trait that all humans possess. But fortunately, I still have a job that helps me cover my living expenses.

What you say may be true. If someone has truly studied trading for a long time, dedicating full-time to trading without a primary job is possible. But on the other hand, I think it's still dangerous. We as humans can't always fully control ourselves.

[Mame89]

Quitting your job to get involved in trading is the most ridiculous decision in my opinion, but yes, maybe some people don't know the reason, trading is not a get-rich-quick scheme, there is no guarantee that you will always profit at the end of the session, almost the same as other types of work in general, but trading is much more difficult and complicated because you have to be able to really manage money well and also manage your emotions, one thing I worry about when you try to quit your job to get involved in trading is what if you experience a big loss while you are in a situation where you need money for living expenses? Of course, this will be a terrible situation, so first understand what trading actually is before you make a decision.

I agree with you. Quitting your job to focus full time on trading is a very risky and often foolish decision especially if you're making trading your only source of income. Trading isn't a fixed monthly salary; it's possible to make profits in a matter of hours or days, but it can also lead to large drawdowns, prolonged sideways trading or consecutive losses. Therefore this will have a significant psychological impact if trading becomes your sole source of income.

But if you're trading and have multiple jobs, it's even better. The advantage of having a job while trading is that it provides a stable income which can cover your daily needs and eliminates the need to take significant risks every day. Furthermore, having a job allows you to invest in trading and most importantly, having a job reduces stress, which will also lead to more rational trading decisions. So quitting your job to focus on trading is a foolish decision and will even impact your finances in the future.

[kawetsriyanto]

Even if we have enough capital and assets, we should be involved in some work. Some of us do physical jobs, and some do online jobs.

Having regular jobs will ensure us to have normal activities and we won't rely on the assets to fulfill our daily necessities. So, our capital can be focused on investment. This will be more effective and we can optimize the chance multiply our money in investment. If we have no regular jobs, we will spend the capital gradually.

By the way, we can choose which jobs that are suitable for us. It is no matter whether we work in physical jobs or online jobs. It is okay as long as it can give us regular income.

But in the future, you could lose everything, so as long as we can do physical work, I think it would be a mistake to quit. Many people in our country continue to work even after 60 years. If the company allows it, right working is a great way to stay productive.

Yep, the money can run out. If we have no jobs, we may get difficulty because we have no regular income.
Indeed, here people can work although they are above 60 years old. But it is very limited jobs. Usually it is only for those who have certain positions in a company, or it is for the professors at a university.

[Leahized]

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.

I think you made a big mistake. Since you were interested in trading, you should not have quit your job right then. Moreover, there are many risks involved in trading and the possibility of losing money is high, which you now understand. Moreover, not all YouTubers have enough knowledge about trading and conducting themselves accordingly will always lead to losses. Since you are learning a lot from this mistake and gain more knowledge about trading in the future. And start trading with little money gradually, then you can be realistic.

[Hardyrobust]

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 too complex for me to want to make it my main source of income. But I like trading as one of the activities I can do. So for me, trading is more of a hobby than a way to earn money. Quitting your job for trading is definitely not a good idea, because trading will not provide you with a stable fixed income every month.

Yes trading is not something that should be treated as a source of income but rather it should be seen as a hobby. Whoever that made the mistake of quitting there job just because of trading may later end up regretting it because trading is very risky and the possibility of always being in profit at all time is very compared to that of losing.
Trading isn't a source of income neither can it be seen as a stable source of income . people should treat trading the same way they treat gambling because of the risk involved in it.

[kawetsriyanto]

I think you made a big mistake. Since you were interested in trading, you should not have quit your job right then. Moreover, there are many risks involved in trading and the possibility of losing money is high, which you now understand.

I also think it is a mistake to quit the jobs. In trading, there is no guarantee to always get profits. Sometimes, we even get consecutive losses. If this happens, we have no way to get money from trading. It is true that the risk of losing money in trading is quite high. This is the reason that we can't solely rely on trading for our main income.

Moreover, not all YouTubers have enough knowledge about trading and conducting themselves accordingly will always lead to losses.

Just don't easily trust influencers or YouTubers! Many of them only show fake trading results.

Yes trading is not something that should be treated as a source of income but rather it should be seen as a hobby.

I am not sure that there are people who consider trading as their hobby. But I agree that we shouldn't consider trading as our main income. Moreover if we only rely on trading as a single source of income. This is something very risky and probably leads us into a financial trouble in the future.

[Big Dirams]

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 too complex for me to want to make it my main source of income. But I like trading as one of the activities I can do. So for me, trading is more of a hobby than a way to earn money. Quitting your job for trading is definitely not a good idea, because trading will not provide you with a stable fixed income every month.

Yes trading is not something that should be treated as a source of income but rather it should be seen as a hobby. Whoever that made the mistake of quitting there job just because of trading may later end up regretting it because trading is very risky and the possibility of always being in profit at all time is very compared to that of losing.
Trading isn't a source of income neither can it be seen as a stable source of income . people should treat trading the same way they treat gambling because of the risk involved in it.

Treating trading as a source of income will always lead to high regrets because the trader will always be eager to make quick profits and such mindset while trading doesn’t always result into positivity instead it always negativity. Trading such be treat with caution and patience, let not rush into trading and thinking we can make it out successfully with high profits nope that not how it goes.
 Trading needs a lot more than just seeing it as a way to make money, trading needs patience, dedication, understanding, analysis, emotional control and alot more so if we go into it thinking we can make it a stable source of income then we are just deceiving ourselves.

[Leahized]

I also think it is a mistake to quit the jobs. In trading, there is no guarantee to always get profits. Sometimes, we even get consecutive losses. If this happens, we have no way to get money from trading. It is true that the risk of losing money in trading is quite high. This is the reason that we can't solely rely on trading for our main income.

Yes you are absolutely right, since he has already quit the job, he should look for other avenues for income. In my opinion it will not be possible to manage life simply through trading only.At one time I myself wanted to make a living by earning money through trading but it was not possible according to the situation. So I don't believe much in trading now. Because there are more losses than gains.

Just don't easily trust influencers or YouTubers! Many of them only show fake trading results.

Yeah that's why I don't trust YouTubers very easily. Because everyone is attracted by fake results and many people get cheated by them and lose a lot of money. Many of my acquaintances have been deceived in this way.

[liasbaa]

I agree with you. Even if we have enough capital and assets, we should be involved in some work. Some of us do physical jobs, and some do online jobs. If we are physically fit, we should definitely do the job, because now there may be enough capital. But in the future, you could lose everything, so as long as we can do physical work, I think it would be a mistake to quit. Many people in our country continue to work even after 60 years. If the company allows it, right working is a great way to stay productive.

One thing about life is that, people can't always be in trading or any other related crypto, because there are some persons that love doing manual work than online work, even though the work might be stress and pressure but still stick to it and are satisfied with it. And also before one can decide trade or combine the two, they should be sure that they have the ability to control their emotions when pressure are high, which they won't have to make decisions that will not affected them positively.

Many people prefer manual work because of the psychological risks associated with trading or crypto. One reason is that not everyone has the same tolerance or many people cannot handle the pressure mentally. Although there is risk in online trading from home, there is a chance of getting high profits, but you have to be skilled and be pressure tolerant. Stress reduction strategies such as trading with capable to lose funds and making perfect decisions through market analysis. The ability to impose control during high pressure will be created when you are able to trade with capable to lose.