Should you quit your job to trade?

[Findingnemo]

Quitting after a good initial run is making some sense but you quit you well paying job just based on the trading videos that you watched and itself gave you the confidence that you can make profits from it or the one who you were following making it look like anyone can make a living out of crypto trading?

Never quit your job based on one time thing, whether it is trading success or big win in gambling. Make sure you can keep repeating the same level of success or atleast enough for survival for the next 6 months to even consider about quitting.

[Halifat]

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.

I believe that's basically just possible for folks who believe they have already perfected their skills and are sure of long term profitable in their trading. But for regular traders who are still trying to get a hang of the market, quitting their job just to depend solely on their trading would eventually turn out to be the worst decision ever.

I don't know how some people are managing their time but speaking from my own point of view if really your job does not take so much of your time then i don't think it will be necessary for someone to quit his job so that they will be trading only. Just as you said quitting your job for trading depend solely because everyone knows what they can do the most. Actually trading need much time and that is why some will decide to quit their job to concentrate on trading only, while some people will be doing 50/50. If the full knowledge is there I don't see anything wrong with someone quitting this job to trade.

[kawetsriyanto]

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.

Indeed, he must look for another job if has quitted from the previous job. Sure, it won't be enough to rely on trading for the main source of income. I also don't underestimate the profits from trading, but we all know that we probably won't get good profits every time. If we have no stable income from another job, we will have a financial trouble in the future. You have experienced this, I also have done the same way. So, it isn't just in theory but it is the fact!

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.

It is good that you don't trust easily those YouTubers or influencers. It is better to do our own analysis for any matter in crypto space. We must be confident with our own ability and we will be always triggered to improve it in this way. Well, we shouldn't be a part of the people who have been the victims.

[passwordnow]

Never quit your job based on one time thing, whether it is trading success or big win in gambling. Make sure you can keep repeating the same level of success or atleast enough for survival for the next 6 months to even consider about quitting.

This makes me remind of the memes about getting back to Mcdonalds and doing the jobs again when the market doesn't look good or some traders are not profitable. I guess that there really are people that leave their jobs when they made good trades like for several months. But when fate doesn't favor them at that time, that makes them want to go back to the former jobs that they did do. I think if it's very sustainable after they quit, they won't be going back to their old jobs but it's not the same story for everybody who get to win big few times.

[LogitechMouse]

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This makes me remind of the memes about getting back to Mcdonalds and doing the jobs again when the market doesn't look good or some traders are not profitable. I guess that there really are people that leave their jobs when they made good trades like for several months. But when fate doesn't favor them at that time, that makes them want to go back to the former jobs that they did do. I think if it's very sustainable after they quit, they won't be going back to their old jobs but it's not the same story for everybody who get to win big few times.

Speaking of that meme, that meme might just be a meme for some, but I believe there are some people who are crazy enough to quit their job because they're making money in crypto, but when they're already losing money, they tried to find a job yet again and there might be some who REALLY applied on McDonalds as a waiter. Sad, but that's the consequences of their stupid decisions. Sorry for the word.

This is why many are saying that if you have a stable income and you are also trading, don't quit your work and if you can do both then do both. Now if you really want to quit your "stable" income then you should at least be profitable consistently for the past 1-2 years in order to sustain yourself. As for those who quitted their jobs and focused on trading and lost, that's a big lesson for them.

I do hope that nobody, and I mean nobody here quitted their stable source of income for the sake of trading.

[rezakurnia66]

This makes me remind of the memes about getting back to Mcdonalds and doing the jobs again when the market doesn't look good or some traders are not profitable. I guess that there really are people that leave their jobs when they made good trades like for several months. But when fate doesn't favor them at that time, that makes them want to go back to the former jobs that they did do. I think if it's very sustainable after they quit, they won't be going back to their old jobs but it's not the same story for everybody who get to win big few times.

Its classic meme until nowadays when the market on downtrend moment many people update that meme getting back to work at McDonalds, its really funny for every one quitting their job get purpose for trading only but after market not really stable will back to the work again. I have little advice for everyone quitting from their job to trade its not really good ideas better doing it together due trading in cryptocurrency not spent much time and you can do it during at working place.
Nowadays difficult looking for job with good salary if you have at that position don't try get quitting although have side job as cryptocurrency trader, make trading for your side job income but keep priority your main job because cryptocurrency market can't predictable and always on the profitable moment every day.

[free-bit.co.in]

I have little advice for everyone quitting from their job to trade its not really good ideas better doing it together due trading in cryptocurrency not spent much time and you can do it during at working place.
Nowadays difficult looking for job with good salary if you have at that position don't try get quitting although have side job as cryptocurrency trader, make trading for your side job income but keep priority your main job because cryptocurrency market can't predictable and always on the profitable moment every day.

No, in fact, trading takes a lot of time and effort. We need to spend hours in front of the screen analyzing and monitoring the news before making trading decision. We cannot enter a trade without doing those thing first, otherwise it is just gambling.

Ironically, even with extensive analysis and research, there's no guarantee thing will go as planned. Because the market always contains unexpected elements.

Trading can be described as a game of probability. Anyone considering quitting a stable job to chase something uncertain and full of risk is making a bad decision.

[sokani]

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?

No, I can never do that. Did you quit your job for trading recently or at some point in your crypto journey? Because I find it hard to believe that you would do this based on how long you have been on the forum. For someone who has been on the forum since 2014, I would expect him to know how risky trading is and that most of these trading videos online are fake. Their agenda has always been to rip off their followers.

[passwordnow]

This makes me remind of the memes about getting back to Mcdonalds and doing the jobs again when the market doesn't look good or some traders are not profitable. I guess that there really are people that leave their jobs when they made good trades like for several months. But when fate doesn't favor them at that time, that makes them want to go back to the former jobs that they did do. I think if it's very sustainable after they quit, they won't be going back to their old jobs but it's not the same story for everybody who get to win big few times.

Speaking of that meme, that meme might just be a meme for some, but I believe there are some people who are crazy enough to quit their job because they're making money in crypto, but when they're already losing money, they tried to find a job yet again and there might be some who REALLY applied on McDonalds as a waiter. Sad, but that's the consequences of their stupid decisions. Sorry for the word.

This is why many are saying that if you have a stable income and you are also trading, don't quit your work and if you can do both then do both. Now if you really want to quit your "stable" income then you should at least be profitable consistently for the past 1-2 years in order to sustain yourself. As for those who quitted their jobs and focused on trading and lost, that's a big lesson for them.

I do hope that nobody, and I mean nobody here quitted their stable source of income for the sake of trading.

Yes, it can also be a reality and people did crazy stuff if they have to do it and if they can. Just do all of the hustle if you can but never sacrifice your health and sanity for it.

Its classic meme until nowadays when the market on downtrend moment many people update that meme getting back to work at McDonalds, its really funny for every one quitting their job get purpose for trading only but after market not really stable will back to the work again. I have little advice for everyone quitting from their job to trade its not really good ideas better doing it together due trading in cryptocurrency not spent much time and you can do it during at working place.
Nowadays difficult looking for job with good salary if you have at that position don't try get quitting although have side job as cryptocurrency trader, make trading for your side job income but keep priority your main job because cryptocurrency market can't predictable and always on the profitable moment every day.

We get to see that a lot every time the market stumbles. But out of that fun, there goes the reality of some people who actually quit their jobs when the market is good. And they have to come back to that when the market shambles.

[Halifat]

No, I can never do that. Did you quit your job for trading recently or at some point in your crypto journey? Because I find it hard to believe that you would do this based on how long you have been on the forum. For someone who has been on the forum since 2014, I would expect him to know how risky trading is and that most of these trading videos online are fake. Their agenda has always been to rip off their followers.

Honestly those online videos are so tempting and that is why a lot of people make big mistakes, if someone don't make use of his head, those videos will push them to do so many thing, because they never said anything about their bad experience just to have more followers or subscribers. I see that as a bad decision for someone to quit a job just to trade, everything needs backup and if someone make his paying job as backup for trading is the best thing because trading don't always show green lights.

[Yeesha]

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?

Cryptocurrency is indeed a great thing and everyone knows that, but I've come across thousands of people who are willing to secure a better job and they can do whatever it takes to ensure that they fulfil their requirements. But you having these opportunity does not mean that you won't be able to carry on with your trading plans, your job can't prevent you from trading as long as you don't work the whole day (as long as you don't work throughout the 24 hours). You can choose to go to work for some hours and use the rest to trade, but it is also important to prioritise your health. But since you end up quitting your job, I believe everything happens for a reason, maybe your greatest success lies in trading, and I hope you will have the courage to overcome the challenges you are facing as the result of the loss and shall experience the sweetness of the trading in the future.

[Fivestar4everMVP]

No, I can never do that. Did you quit your job for trading recently or at some point in your crypto journey? Because I find it hard to believe that you would do this based on how long you have been on the forum. For someone who has been on the forum since 2014, I would expect him to know how risky trading is and that most of these trading videos online are fake. Their agenda has always been to rip off their followers.

Honestly those online videos are so tempting and that is why a lot of people make big mistakes, if someone don't make use of his head, those videos will push them to do so many thing, because they never said anything about their bad experience just to have more followers or subscribers. I see that as a bad decision for someone to quit a job just to trade, everything needs backup and if someone make his paying job as backup for trading is the best thing because trading don't always show green lights.

The important thing is to have a good financial back up and don't simply depend on trading alone, one can actually quit their day job to focus on trading because trading is actually time consuming and the day job may not actually allow the person the amount of time needed to trade effectively..

But the thing is, interested person can always first raise enough money and go into a business, that is, establish a business which while making money from it, allows you the time to practise trading, this is best way to go.
I have friends who trade and all of them have quit their jobs to focus on trading because of time, but then, each have other things they do as a backup, most have their personal businesses they are managing whike trading on the side and most of them actually making it because the profit they make from trading is also helping their business to grow.

[shawonngp]

No, I can never do that. Did you quit your job for trading recently or at some point in your crypto journey? Because I find it hard to believe that you would do this based on how long you have been on the forum. For someone who has been on the forum since 2014, I would expect him to know how risky trading is and that most of these trading videos online are fake. Their agenda has always been to rip off their followers.

Honestly those online videos are so tempting and that is why a lot of people make big mistakes, if someone don't make use of his head, those videos will push them to do so many thing, because they never said anything about their bad experience just to have more followers or subscribers. I see that as a bad decision for someone to quit a job just to trade, everything needs backup and if someone make his paying job as backup for trading is the best thing because trading don't always show green lights.

Right, at least in this forum so far, no one has told the story that they quit their job, started trading, and made a regular profit from there. Even if someone says that they have always made huge profits from trading, it is completely false propaganda. Because trading is too risky, no one can guarantee a profit here, no matter how expert a trader is. We see many tempting videos on social media where they show 100% winning, so that people believe them and buy signals; these are fake videos. If they share their full trading history, then surely their loss history will also be available. They only show winning history.

[L E G E N D A R Y]

Honestly those online videos are so tempting and that is why a lot of people make big mistakes, if someone don't make use of his head, those videos will push them to do so many thing, because they never said anything about their bad experience just to have more followers or subscribers. I see that as a bad decision for someone to quit a job just to trade, everything needs backup and if someone make his paying job as backup for trading is the best thing because trading don't always show green lights.

Most online traders or influencers are complete piece shits because all they do is mislead ignorant and naive people who don't know a thing about trading. They make the whole process look too easy and it just pisses me off whenever I see them do this. And honestly this is the very mindset that some people came into the trading world with, mostly due to what they see online, that they can just simply punch a few buttons and boom, the profits just keep gushing in like some oil well, what happened to doing one's due diligence?

[liasbaa]

Honestly those online videos are so tempting and that is why a lot of people make big mistakes, if someone don't make use of his head, those videos will push them to do so many thing, because they never said anything about their bad experience just to have more followers or subscribers. I see that as a bad decision for someone to quit a job just to trade, everything needs backup and if someone make his paying job as backup for trading is the best thing because trading don't always show green lights.

Most online traders or influencers are complete piece shits because all they do is mislead ignorant and naive people who don't know a thing about trading. They make the whole process look too easy and it just pisses me off whenever I see them do this. And honestly this is the very mindset that some people came into the trading world with, mostly due to what they see online, that they can just simply punch a few buttons and boom, the profits just keep gushing in like some oil well, what happened to doing one's due diligence?

Instead of blaming only online traders and influencers, new traders should be blamed. It would not be right to call traders who are ready to invest capital to make big profits in a short period of time simple traders. You need to take advice from experienced ones and seek more knowledge before making a final decision because there are multiple sources of analysis available.

Influencers will show you easily because they are associated with the promotion of a specific coin and focus on that coin for trading. It is the responsibility of experienced traders to make new traders understand that trading is risky and they need to gain more experience. It is true that new traders make mistakes but the Influencers have to be responsible in that opportunity.

Avoid trusting influencers who campaign to increase followers on YouTube or other social media because they work with some specific agenda and mostly spread fake information to increase the views of their videos online.

[free-bit.co.in]

Most online traders or influencers are complete piece shits because all they do is mislead ignorant and naive people who don't know a thing about trading. They make the whole process look too easy and it just pisses me off whenever I see them do this. And honestly this is the very mindset that some people came into the trading world with, mostly due to what they see online, that they can just simply punch a few buttons and boom, the profits just keep gushing in like some oil well, what happened to doing one's due diligence?

It must be admitted that some trader and social media influencer are truly despicable for deliberately making trading look easy and misleading many people. However, I will not place all the blame on them. Because if people were not greedy, if they did not want to get rich quickly without effort. They would never easily fall into those trap.

Similarly, when you invest in shitcoin and lose money, you can not blame them and it is entirely your fault. Because you are greedy and cannot control your greed.

Making money has never been easy, and this task become even more challenging in the financial market. The financial market is nothing short of a battlefield, and everyone should be aware of that.

[Crypto_Timothy]

Have you had any such experiences in your life?

No, i dont have such experiences but still i agree with you, i dont think it is wise to quit your job to trade especailly when you have secured the basis of the transition you are aiming for.

If you were already earning decently from trading then you quit your actual source of income because otherwise it becomes a gamble you're taking because if trading doesnt work out, you already quit and this is obviously not just for trading but like every field, if you want to to transition to a new position, secure it first before quiting.

[Ayers]

Have you had any such experiences in your life?

No, i dont have such experiences but still i agree with you, i dont think it is wise to quit your job to trade especailly when you have secured the basis of the transition you are aiming for.

If you were already earning decently from trading then you quit your actual source of income because otherwise it becomes a gamble you're taking because if trading doesnt work out, you already quit and this is obviously not just for trading but like every field, if you want to to transition to a new position, secure it first before quiting.

Even if you have made a decent amount of money from trading, you should not quit your job to pursue trading full time. Because there is no guarantee that you will be able to keep making that profit regularly after you quit your job.

The market is inherently volatile, and just because we have made profit for several month in a row when the market was favorable. It does not mean that we will be able to do the same when the market turns sour. 

Do not quit trading even if you are making good profit from it, imo.

[Big Dirams]

Even if you have made a decent amount of money from trading, you should not quit your job to pursue trading full time. Because there is no guarantee that you will be able to keep making that profit regularly after you quit your job.

The market is inherently volatile, and just because we have made profit for several month in a row when the market was favorable. It does not mean that we will be able to do the same when the market turns sour. 

Do not quit trading even if you are making good profit from it, imo.

Quitting your job for pursing trading isn’t a smart idea at all because trading is not definitely something that is guaranteed so let not quit our job for trading even if we are taking trading as a career let make sure we shouldn’t loos our legit source of income for something that isn’t guaranteed.
 Trading is very risky and it needs more than knowledge alone, we can use our legit source of income to push our trading journey or boost our equity and keep learn and gaining experience from the trading market but quitting our job for it is a wrong decision in my opinion. Keeping our job and trading is just another plus for us financially.

[Razmirraz]

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?

Videos that show huge profits only highlight their best moments so you accidentally get caught in FOMO due to false hopes and sudden greed. Never fall into the illusion that trading is easy and can make you rich quickly because they never show you the long process that involves risks or losses that they have experienced.
Quitting a stable job that generates a stable income to trade without proper preparation and mental fortitude is a high-risk move. You have to understand one thing, trading requires cold capital (money you are ready to lose), without a stable income it will be increasingly difficult to control your emotions, especially if you need money suddenly.

Although real experience in the market is more valuable than theory, you should focus on risk management, not profits. You should also determine the maximum amount you are willing to risk and never trade with money you use for daily needs, as this will lead to frustration if market conditions do not meet your expectations.