Should you quit your job to trade?

[Zanab247]

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.

Since crypto trading can't stop you not to do other job, you can continue your job and still involving in crypto trading, because it will improve your wealth in the future. It depend who impact you about  crypto trading that will make you to make a choice to stop you from your job and focus on crypto trading only, because some that understood crypto trading very well know how to accommodate whenever losses occur.

Nothing will make me to quit my job because of crypto trading, because I know I can trade coins or buy coins anywhere I go or live in the world. And nothing will make me to leave crypto trading for my job, because I don't see any reason to quit the two since am comfortable with my job and crypto trading.

[Kelward]

Have you had any such experiences in your life?

Quitting a  job just to trade full-time is nothing more than a big mistake. Start to trade after watching social media fake gurus is not more than just a gambling. When we don't have any stable monthly back up plan than every trade becomes  survival battle . If trade goes wrong the pressure of expenses really affect our way of thinking. Because we actually need that money to pay our real life bills. Having a job is our backup plan if we have salary our mind stays relaxed even we hit stop loss. Small loss will not affect much because we know next paycheck is on the way. We can easily separate our emotions from reality .

I think that one of the major distractions for newbies that enters into trading hurriedly is the false narratives that influencers that shills trading creates online, in the end their aims is for these green horns to pay for tutorials. Young people are searching online for fast money making businesses and investments, when they hear about trading and the huge amount of money that they can be making everyday they will quit their jobs to concentrate on trading based on what they were told, in the end after losing all their money they will understand that trading is risky. New traders should be mentored by experienced professional traders who will not sugar-coat their expectations, they should know that it is very easy to lose in trading than to make profit.

[Mpamaegbu]

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.

I'm not sure anyone will leave their jobs completely to face a new venture that hasn't started making them money if the said job is truly paying their bills in a way. What most people do call jobs hardly take them through. They just sit with it. Once what they think is an option shows up, they're gone. We can't compare profitable trading to a 8–5 in any way, no matter how much the salary is.

[Hyphen(-)]

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.

Experience is the best teacher, as you have the experience now, you will decide on what to do weather to leave your job for trading or to keep and maintain your job while taking trading as your side hustle because that’s what so many people are doing regardless of their experience in trading until they have good capital to rely on trading completely before they can rely and maybe decide to keep their job and focus on trading especially if you have enough Bitcoin savings.

[fuguebtc]

Trading is more difficult than investing and quiting a job that is a main source of income for the sake of trading can be seen as foolishness. There is no need for a trader to quit his job because of trading, the best thing to do is to trade alonh side after working for the day. Even if making profits is not a problem, there should be a level of success a trader can reach before ever quitting his job.

Even if making a profit is not the issue, or you have already had some real success in your trading journey. Quitting your job to pursue a fulltime trading career is also a bad idea.

Because in reality, no one truly control the market. Just because you made a profit in the past does not mean you will keep doing it going forward. The market is constantly changing, and nothing is certain.


Not to mention, your psychology will be completely different when trading become your only source of income. At that time, your decision will be influenced more by emotions and pressure rather than logic. So, I would never endorse this idea, no matter how good your track record is or how confident you feel.

[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.

Experience is the best teacher, as you have the experience now, you will decide on what to do weather to leave your job for trading or to keep and maintain your job while taking trading as your side hustle because that’s what so many people are doing regardless of their experience in trading until they have good capital to rely on trading completely before they can rely and maybe decide to keep their job and focus on trading especially if you have enough Bitcoin savings.

It was a really bad experience for him though and the mistake he made was leaving his job for trading when he has not gotten much understanding of the system and hasn’t gotten any strong knowledge about trading. It not just about watching videos or learning the basic there are more to trading than all that for instance the total control over our emotions when we place an entry. All this are part of the process and when most of this ain’t in check then we face the bad experience of trading.

He would have keep the job and take trading as a side hustle and trade gradually and making sure not to push too hard or trying to gain fast money. But without job the urge of making quick money and getting rich fast to settle his needs will always pop in and that is the wrong way.
But with the experience so far he can decide for himself either looking for job or continuing the trading journey. 

[Bushdark]

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.

I'm not sure anyone will leave their jobs completely to face a new venture that hasn't started making them money if the said job is truly paying their bills in a way. What most people do call jobs hardly take them through. They just sit with it. Once what they think is an option shows up, they're gone. We can't compare profitable trading to a 8–5 in any way, no matter how much the salary is.

Trading is not all about what we used to see on the internet and how traders post their results to claim how profitable they are so that they can gain more views and have more enrolled students that will be paying for their VIP classes.

Trading is complex and can be incomprehensible by many including those that called themselves traders.
Since not everybody that called themselves traders are profitable, this shows that of you are making profits from your trades, that should not mean that you are going to quit your job and focus on trading mainly. Trading should be isolated by our job so it doesn't bring any issue.

[Byebyebtc]

I personally set a target of $60k and profitability before I quit my job.

Trading should be a side hustle for me until I reach this target and I feel it makes sense that way to Evey other trader as well.
I personally don't think anyone should loose their jobs because of trading, it will also help in capital as well

[Achalugo BTC]

Trading is not all about what we used to see on the internet and how traders post their results to claim how profitable they are so that they can gain more views and have more enrolled students that will be paying for their VIP classes.

Trading is complex and can be incomprehensible by many including those that called themselves traders.
Since not everybody that called themselves traders are profitable, this shows that of you are making profits from your trades, that should not mean that you are going to quit your job and focus on trading mainly. Trading should be isolated by our job so it doesn't bring any issue.

But, do you know there are some persons that do take trading as their full time job, they don't like to work for others despite they don't know if the market will be on their side or not. Nevertheless, trading doesn't really mean they way people are hyping or advertising it to be, which they are ought to verify to be more on their safer side and avoid any expensive mistakes that will even help in ruining their plans for the worst.

[@nn@_pen9]

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?

Greed blinds your mind and ruins your life with your choices. Of course, I wouldn't have made such a foolish decision if I hadn't fully understood how trading with leverage can generate quick profits. We must avoid this mindset for all groups, especially those who don't understand or are beginners.

It would be good if we wanted to try while adapting and adjusting whether this could fit into our work style or not. Use small amounts of money that you can afford to lose in trading. If trading fits your criteria, you can delve deeper into it. However, if it doesn't fit your criteria and you lose a lot of money there, it would be better to let go or avoid that trading.

[DanWalker]

I personally set a target of $60k and profitability before I quit my job.

Trading should be a side hustle for me until I reach this target and I feel it makes sense that way to Evey other trader as well.
I personally don't think anyone should loose their jobs because of trading, it will also help in capital as well

Even if you achieve your goal, quitting your job and turning trading into a full-time job is not a wise idea. Because fundamentally, trading is not a job that can provide a stable or guaranteed income.
Its a probability game and can even lead to losses and bankruptcy if there is a lack of discipline and risk management. So, it should be considered a side job and only a certain amount of time and capital should be allocated to it.

[Franctoshi]

One big mistake you made was to quit your job for something you haven't gotten a more profound understanding of. You don't throw away an old bucket when you haven't gotten a new one; you should have retained your job while still doing trading. You only will have to quit when you're very sure that the profit or gains from your trading career are enough to cover all your bills if you had to quit, but for me, trading is something you can be doing and while still doing your other job.

[nara1892]

I've never experienced that. I've never stopped working to focus on trading. For me, that's too risky a decision. I realize I can't always fully control myself, and I worry about the impact it could have on my family relationships, especially due to financial issues.
After all, we can't completely control the market; we just follow it. But when emotions arise, people usually fight the market, and this is what leads to consecutive losses and even bankruptcy. So, personally, I prefer prevention rather than cure.