Should you quit your job to trade?

[pusaka]

You have said it all bro, once you depends only on trading to make a living, the chances is that you are going to open many trading positions you shouldn't have opened if you have any other source of livelihood, and just because you need money for one or two of your basic needs, you will definitely ignore all the signs why you shouldn't enter that trade. So it makes you to trade under pressure, which is one of the easiest way to lose money in trading, so  it's a bad idea to depend only on trading as a source of income.

Why will anybody even take trading as a source of income or let me say as the only source of income isn't that crazy, people should look for what to do instead trying deceive themselves, make I can learn from you, are there people that take trading as a full time stuff because I don't understand.
I'm not against anyone looking for different ways to make money, but what I don't advice is someone concentrating on trading alone when they also know the nature of trading, if anyone should do this, it means such person will do everything to make profit and the end might very disappointing.

Making trading the sole source of income is a huge risk. Because in trading we are not sure whether we will get a profit or not, and when we have to feel a loss, then we will definitely be dizzy because there is no income, and our capital will definitely be reduced. Well there is a big risk we will face, because it is not impossible that we will become emotional.
 
I always recommend having a steady income every month. Because that way at least we don't bother to cover our daily needs.
 
The problem is when people assume that trading is easy and they can consistently profit from trading. A professional may be able to do that, but for beginners and even for old-timers it remains a difficult thing.

[Judith87403]

In all honesty, I would not advise someone to quit a stable job just to focus fully on trading. Some people can study trading for years, sacrifice their time and still not end up profitable consistently. Trading looks easy online because many people only show their wins, but they hardly show the heavy losses and stress behind it. I think it is better to have a stable source of income first, then trade with extra money and learn gradually instead of depending on trading alone to survive. I am practically at that stage right now in my life.

Quitting your job for trading is not a wise thing to do or for it to be a good thing to tell one to do, as it might not turn out to be what you might be expecting and all the blames will be on you, and this will cause you regrets and hurts you a lot too. At times, trading is not what one may be anticipating it to be, because of how unstable the market might be, making one unable to tell what will happen next and instead of entirely focusing on trading, they can be taking it bit by bit and that means they won't be in a hurry to start profitting from it rather they will study and research about it until they get to understand how everything works and how to apply those knowledge rightly.

[goldkingcoiner]

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 think a job is a job and a side hustle is a side hustle.

Trading is not a job and should not be seen as a primary income source. A job is far safer. But if you have many side hustles, then I guess perhaps you can call them collectively, a job. Since the risk is distributed, so even if a single income source from one of these side "jobs" fails, you still have the others to fall back on. But trading alone? That is far too risky. There is no telling whether it will make you a profit this month (or even year) or not.

[Oluwa-btc]

A greedy habit can develop in very small ways,but it can be very dangerous overtime.A lot of people are risking their jobs to chase unrealistic methods to make money quick.It is good to explore new things and opportunities but when money and finances are involved,it is important to ask questions and seek advice before making decision.

[kawetsriyanto]

Making trading the sole source of income is a huge risk. Because in trading we are not sure whether we will get a profit or not, and when we have to feel a loss, then we will definitely be dizzy because there is no income, and our capital will definitely be reduced. Well there is a big risk we will face, because it is not impossible that we will become emotional.

Yep, it is too high risk. There is no guarantee to always get enough profits in trading. Even professional traders, they still can get losses few times. Moreover if we are as average traders who want to rely on trading to be the main source of income. This is a careless decision because we can't ensure to gain certain amount of money from trading regularly. Once we decide to make it as a source of income, there must be a pressure and target for gaining a certain amount of money. Unfortunately, this commonly only leads to uncomfortable condition in trading. As the results, we get difficulty to think with calm mind, then the emotion is uncontrolled. In this condition, we often decide anything in hurry.

I always recommend having a steady income every month. Because that way at least we don't bother to cover our daily needs.

This means we need to have an established income from our jobs in real life. I agree with you, the result of our trading activity shouldn't be the primary income because it will bother our financial condition if we have unstable income from trading.

The problem is when people assume that trading is easy and they can consistently profit from trading. A professional may be able to do that, but for beginners and even for old-timers it remains a difficult thing.

If the people have done trading for few times, I am sure they won't think trading is easy anymore. It is only the people who know trading in a theory, they may think in that way. Sure, even professional traders or old traders still get difficulty to get stable profits in trading.

[JaanusRaim]

Crypto should not be your only passion because human being needs to be active every day not only in the rare moments when strong undervaluation (or overvaluation) emerges.

[Fredomago]

A greedy habit can develop in very small ways,but it can be very dangerous overtime.A lot of people are risking their jobs to chase unrealistic methods to make money quick.It is good to explore new things and opportunities but when money and finances are involved,it is important to ask questions and seek advice before making decision.

In some cases there are traders who managed to make a good outcome but in terms of percentage it's still more that lose a lot. It's your financial management skills that matters, if you see that you have good knowledge and you have the right discipline to excute your trading practices, you may find good and in-line strategy or patterns that may bring decent success from your trade, though not all have that capabilities and skills that's why it's very crucial and important to assess and analyze yourself before jumping into conclusion.

[Halifat]

Crypto should not be your only passion because human being needs to be active every day not only in the rare moments when strong undervaluation (or overvaluation) emerges.

I think the best position for cryptocurrency in my own angle should be has side hustle, some people may get me wrong because they are seen people who take it as a full-time job but they don't know why it is so, since they don't have any alternative definitely they will respect and handle the one at hand that is why they have to fully concentrate on it since they don't have any paying job.

[Minor Miner]

Crypto should not be your only passion because human being needs to be active every day not only in the rare moments when strong undervaluation (or overvaluation) emerges.

I think the best position for cryptocurrency in my own angle should be has side hustle, some people may get me wrong because they are seen people who take it as a full-time job but they don't know why it is so, since they don't have any alternative definitely they will respect and handle the one at hand that is why they have to fully concentrate on it since they don't have any paying job.

No, I do not think that is a valid reason. I think some people turn trading into a full time job because they believe it can be more profitable than a traditional job. Or even worse, many of them fall into the illusion that trading is a shortcut to getting rich quickly, and they can retire early instead of working hard for the rest of their lives.
That is why most of them will regret it after a while when they become a full time trader.

Any hardworking person will not find it too difficult to get a job. Do not use the excuse that the job market lacks opportunities and they have no other choice but to become trader.

[Z_MBFM]

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.

Job is a person's security income, here he gets a certain amount of money every month to run his family, with which he can run his family and meet his own expenses. But in the case of trading, no one can earn a certain amount of money every month with which he can live comfortably with his family. Maybe he can make a big profit sometimes, but there is no guarantee of that. So no one should ever quit his job for trading. But when someone works, he has to work for a maximum of 8 to 10 hours, after which he has enough time, during which he can easily trade. So the decision to quit his job for trading can never be a good decision.

[kawetsriyanto]

I think the best position for cryptocurrency trading in my own angle should be has side hustle, some people may get me wrong because they are seen people who take it as a full-time job but they don't know why it is so, since they don't have any alternative definitely they will respect and handle the one at hand that is why they have to fully concentrate on it since they don't have any paying job.

If you mean trading, I agree that trading should be a side job. This will be safe because it won't bother our financial stability if we can't earn enough money from trading. Sure, we must think much about this because we can't ensure to earn certain amount of money from trading constantly.

Maybe there are some people who make trading be their full-time job temporarily. However, they must look for a more established job because they can't rely on trading forever. it is because they must be aware of the uncertainty of trading income in the long run. Even a professional trader, I'm sure they must have a more stable income from another source.

I think some people turn trading into a full time job because they believe it can be more profitable than a traditional job. Or even worse, many of them fall into the illusion that trading is a shortcut to getting rich quickly, and they can retire early instead of working hard for the rest of their lives.
That is why most of them will regret it after a while when they become a full time trader.

People who have this assumption, they probably still don't start their trading activities. After they trade for few weeks, I'm sure their assumption will change. People will realize it after they experience losses. Before they they experience it, I'm not surprised if they are still very confident.