Can Bitcoin trading be my sole source of income? - page 3.

Inwestour

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Quote from: Hypnosis00 on June 16, 2023, 05:47:08 PM

Perhaps, there is no need for him to resign from his current job just for trading unless he has other sources of income that would back up his trading career. I have a friend of mine and yes, he stops working just for trading but the good thing is that he only did this after having 2-3 years of experience. Meaning, he already has enough knowledge and strategies in trading and I know that he can make it and earn more than from the salary of his job ( we're actually at the same company). And now, he becomes a full-time trader and I see him happy with his decision.

Does he have any other sources of income, or is trading his only source? A bold decision, but if you say that he was able to check his results over the course of several years, then he probably understands what he is doing.

I think that there are many who want to make trading their main source of income, but based on their results, perhaps not very stable, only a few decide to take this step. Personally, I do not see that I could consistently earn money in trading, and temporary successes do not inspire me enough to decide to become a trader.

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Quote from: Farma on June 16, 2023, 10:08:45 PM

Quote from: bettercrypto on June 14, 2023, 01:56:46 AM

Do you have work today? besides you are doing Bitcoin trading in this field of industry. Because if you have a job now or are currently an employee of a company, you know what the answer to your question is.

Try to imagine, why would you resign from the job you have now if you know for yourself that the profit you get from bitcoin trading is not consistent? I hope you get my point. In short, if you know that trading here in crypto or Bitcoin is not a joke, I am also certain that you will not resign from your job right now, unless you know for yourself that you can take profit every day from trading activity here.

Sometimes quite a few people get a large amount of profit trading, and then they think that when they focus on trading, they can make more profit, and they end up leaving their job. however, this happened to me in 2016-2017. in that year, I made quite a lot of money, and thought that this was a very good job. because of that, I don't think about other jobs. however, a few years after that, I was losing quite a bit on crypto, and wished I had a decent paying job. it's probably the same as the OP wanting to quit his current job.
The advice I have is, keep your job and if you are interested in trading then you should only do it during your break or time off. even, you can check the price or traffic while you are still working. so, keep doing as usual.

Back in 2016–2017 when you made a sizable sum of money trading you had a good experience. People frequently have the impression that trading can be a full time career as a result of such triumphs. However as you indicated the succeeding years brought losses, and you came to understand how important it was to have a reliable and well paying employment. It is sage advise to continue working full time and view trading as a side hobby. You can benefit from trading with this strategy while keeping your financial situation stable. Maintaining your existing employment offers stability and a steady source of money. It is important to have a backup plan and not rely only on trading for money even though it can be thrilling and sometimes rewarding. You can enjoy the best of both worlds financial stability and the opportunity to explore your passion for trading by keeping your employment while pursuing trading as a side interest.

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Quote from: Lida93 on June 17, 2023, 07:39:35 AM

Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

There's so much plethora of opportunities in the "bitcoin world" no doubt but it's not wise to quit your job and solely focus on bitcoin trading. Like what's bad in having both your job and bitcoin trading as sources of income? The market is not always smooth to our expectations at all times and that's why it's expedient that every bitcoin trader have a backup source of income order than just having a full rely on bitcoin. You can plan yourself and know how you can delineate your time on both the trading and your job time in a way that wouldn't choke you while you making your money from both source.

I think not only as a backup income. but do have to have a job. whereas if you want to trade Bitcoin or invest in Bitcoin only for additional income if you really want to earn income from Bitcoin trading.
the market will not be able to continue to benefit us when trading. even if the situation does not allow it, we can lose a lot of money when trading. especially for a beginner. it's better to learn in long-term investment for Bitcoin than speculating on trades that can actually make it difficult for beginners to make profits.

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Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

By trading Bitcoin, it is possible to make a living. However, I don't think it will be possible to make daily profit from trading so it cannot be considered as a source of passive income. So you definitely need a fixed job or business to lead a happy life. And besides that you can trade bitcoins which will bring you extra income. and if you hold Bitcoin for a long time instead of short term trading, you can make better profit and in this case the risk will be less.

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Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

There's so much plethora of opportunities in the "bitcoin world" no doubt but it's not wise to quit your job and solely focus on bitcoin trading. Like what's bad in having both your job and bitcoin trading as sources of income? The market is not always smooth to our expectations at all times and that's why it's expedient that every bitcoin trader have a backup source of income order than just having a full rely on bitcoin. You can plan yourself and know how you can delineate your time on both the trading and your job time in a way that wouldn't choke you while you making your money from both source.

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Quote from: bettercrypto on June 14, 2023, 01:56:46 AM

Do you have work today? besides you are doing Bitcoin trading in this field of industry. Because if you have a job now or are currently an employee of a company, you know what the answer to your question is.

Try to imagine, why would you resign from the job you have now if you know for yourself that the profit you get from bitcoin trading is not consistent? I hope you get my point. In short, if you know that trading here in crypto or Bitcoin is not a joke, I am also certain that you will not resign from your job right now, unless you know for yourself that you can take profit every day from trading activity here.

Sometimes quite a few people get a large amount of profit trading, and then they think that when they focus on trading, they can make more profit, and they end up leaving their job. however, this happened to me in 2016-2017. in that year, I made quite a lot of money, and thought that this was a very good job. because of that, I don't think about other jobs. however, a few years after that, I was losing quite a bit on crypto, and wished I had a decent paying job. it's probably the same as the OP wanting to quit his current job.
The advice I have is, keep your job and if you are interested in trading then you should only do it during your break or time off. even, you can check the price or traffic while you are still working. so, keep doing as usual.

Hypnosis00

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Quote from: bettercrypto on June 14, 2023, 01:56:46 AM

Try to imagine, why would you resign from the job you have now if you know for yourself that the profit you get from bitcoin trading is not consistent? I hope you get my point. In short, if you know that trading here in crypto or Bitcoin is not a joke, I am also certain that you will not resign from your job right now, unless you know for yourself that you can take profit every day from trading activity here.

Perhaps, there is no need for him to resign from his current job just for trading unless he has other sources of income that would back up his trading career. I have a friend of mine and yes, he stops working just for trading but the good thing is that he only did this after having 2-3 years of experience. Meaning, he already has enough knowledge and strategies in trading and I know that he can make it and earn more than from the salary of his job ( we're actually at the same company). And now, he becomes a full-time trader and I see him happy with his decision.

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Quote from: RewFrew on June 16, 2023, 03:00:39 PM

Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Many people Many thinking. But my thinking is Both are good ata a time. If you leave from job it will be economically suicide i think. Because No one can guarantee about trading. Trading has both side profit and loss. But job is stable. If you loss from trae you could be recover from job but if you leav from job you will fall in big economic crisis.

So my advice you can do both at a time. If you have a problem with one, the other will help you.Always remember Bitcoin is best fror trading and holding but it has two side profit and loss. So more think and do that by own diction which is better for you.

As long you could be able to do so then for sure you would really be definitely be able to make yourself find in a situation that you wont really be having some problems when it comes to finances. We know that when it comes to money then it would be sensible that we would really be finding ways about those sources and trading could be potentially be able to acquire but of course getting such skill and capability is never been that simple and this one would really be involving out that kind of long time and lots of trials before you could really be able to acquire such skills which means that it is a potential one but not that simple that you could really be able to get. We do have different source of income if we wanted to but of course its not something that everyone could pull on.

Trading is really one of the good choice but not something you could really acquire such skill.It would be taking lots of time and lots of trial and error before you could be able to make yourself
consider to be profitable. You would be finding out for yourself if you are really that sustainable.

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Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Many people Many thinking. But my thinking is Both are good ata a time. If you leave from job it will be economically suicide i think. Because No one can guarantee about trading. Trading has both side profit and loss. But job is stable. If you loss from trae you could be recover from job but if you leav from job you will fall in big economic crisis.

So my advice you can do both at a time. If you have a problem with one, the other will help you.Always remember Bitcoin is best fror trading and holding but it has two side profit and loss. So more think and do that by own diction which is better for you.

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Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

You can listen to a lot of answers and advice, but only you should make a choice, because then only your responsibility will be. In your place, I would try to combine work with trading as much as possible, because you must be aware of all the risks that you expose yourself to. You can get rich or you can lose money. Nobody knows for sure. You definitely need to be patient, mentally stable, and most importantly, don't invest money that you can't lose, your last money.
Don't rush to quit your job, you'll always have time to do it, let time pass, you'lll get to know yourself better and understand the best option for yourself in the future
Good luck!

bettercrypto

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Do you have work today? besides you are doing Bitcoin trading in this field of industry. Because if you have a job now or are currently an employee of a company, you know what the answer to your question is.

Try to imagine, why would you resign from the job you have now if you know for yourself that the profit you get from bitcoin trading is not consistent? I hope you get my point. In short, if you know that trading here in crypto or Bitcoin is not a joke, I am also certain that you will not resign from your job right now, unless you know for yourself that you can take profit every day from trading activity here.

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Quote from: sulendra12 on June 13, 2023, 10:11:00 AM

I'd prefer you keep your job and treat Bitcoin as your long-term investment by HODLing. It's way better than just sticking to one source of income with the unpredictability behavior.

Can't be applied to those who are not happy now with their jobs. The only choice for them is to, keep with their job no matter how toxic and stressful the work environment is or to focus on bitcoin as their source of income. It's really hard to make Bitcoin a source of income as it depends on what the "work involved" is.

It doesn't mean that a user will just limit themselves to HODLING and TRADING as there are other ways such as offering services and works for bitcoin payment and so on. It is still a usual work being paid with fiat but this time, the payment just changed to bitcoin. There are also crypto-related job opportunities in the freelance world and just put some effort to look for those.

I'd rather leave work that is now giving stress to me and instead choose crypto-related work as my source of income. Not that I will just stick to a single source of income but I will look for other opportunities too that will give me a stress-free environment.

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Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

Before you resign think about how would you earn when the market bleed? and just imagine how long would it be and how would you survive if your only source of income is trading?
If you could come up with plans and counter measure to those events then I guess there is nothing wrong on quitting on your current job and focus on crypto.
And if by quitting on your job it would provide you more profit or make you earn more and secure then it is not wrong.

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Quote from: carlisle1 on June 13, 2023, 06:26:14 AM

Quote from: molsewid on June 12, 2023, 03:57:33 PM

Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

My answer to this one will be , you can do both. Do full time work as well as trade if you can manage your time and also you need to learn more about trading first so that it would be a good fundamental. I know many people who do both and when they finally know and their PNL are getting better they will decide to quit their jobs, maybe you can do that as well.

Yes, doing it both then decide if you feel very comfortable with the knowledge that you already earn during your trade sessions
will give you good opportunities.

It's more on how you understand the risk and the potential benefits. If you see that you are fit to this business, and you can grow your
initial investment, then go and take your shot in this business.

Your own assessment will give you the decision that you'll need to take.

You would be able to find up yourself whether you would really be that confident when it comes into your skills into trading because if you do find out that you couldn't sustain on day to day profitability or something that would really be supporting your living then you wouldnt really be on your right mind on quitting your job and relying into it but instead you would really be honing up that skill even more and would really be persevering that you would really be that able to achieve that goal. We do have our own senses whether we are already that capable or not because we cant really be able to make decisions on quitting
if we do see that we arent that profitable. You could really make out trading as main source of income if you are really that confident then you could really be able to do such thing but if not
then for sure you would really be that notice that you would really be still in losing money which its not ideal on pursuing such state if you arent that capable.

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Quote from: sulendra12 on June 13, 2023, 10:11:00 AM

I'd prefer you keep your job and treat Bitcoin as your long-term investment by HODLing. It's way better than just sticking to one source of income with the unpredictability behavior.

This is true. It's better to have a stable job while having investments that you're keeping for the long term. You'll have no problem with having a stable source of income if ever the market crashes. You can buy with the salary that you have as you still have a source and you can't rely on the market that has crashed temporarily. That's why you'll see memes on how they've left their jobs during the bull run and then taken a new job when the bear market has came.

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Quote from: Bitcoin_people on June 13, 2023, 01:44:02 AM

If you have to adopt some strategy to trade then it is always possible to make profit by trading. There are people who do trading business to manage their daily life and continue trading as their source of income. A person starts his trading business first with Bitcoin. The risk of losing money while trading in Bitcoin is low, but there is some risk of losing money when trading in other cryptocurrencies. But a new trader can never perform well if he doesn't have that much knowledge about trading. So even if you invest in Bitcoin for trading, knowing the trading strategy is the most important thing.

Perhaps, we don't aim for loss but we come to trade as we aim to grow our $100 to $500(realistic goal). Yet, losses is inevitable in trading and that really happens no matter what we do. But why this is really happening? This is because of the volatile nature of the market that sometimes we make a wrong decision due to our wrong market analysis and price trajectory. And most of all, when our emotions drive us.

Trading is profitable, yet it was too risky and if you wanted to succeed, you also need to extend your patience and must carry positivity despite the struggles and losses you've made.

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saya rasa dalam beberapa kondisi beberapa orang menjadikan trading memang menjadi penghasilan utama mereka. tetapi biasanya itu di lakukan oleh orang professional yang benar benar terbiasa dengan trend market, atau anak kuliahan yang memang masih sekolah sehingga mereka harus mencari penghasilan dengan waktu yang fleksibel. saya rasa pasti ada, tetapi sayangnya kita jarang sekali menemukan orang seperti ini, karena kebanyakan apa yang kita mengerti adalah, investasi bitcoin adalah penghasilan sampingan yang sangat sulit menjadi penghasilan utama.

sounds difficult indeed, but I found people who only rely on Bitcoin trading profits as their only income, but that goes back to the process and knowledge that has been lived long ago so that he can be at the point he is today.
there are many lessons that must be learned and control over passions in trading, especially when market prices are corrected.

At first I wasn't sure, but after I found real evidence that changed my mind, the benefits of Bitcoin trading make it possible to meet all the necessities of life.

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Quote from: iBaba on May 05, 2023, 07:09:45 AM

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

I'd not recommend to quit your job if you have one for Bitcoin trading. Sure, the habit of Bitcoin is at the end you will get the profit if you have another source of income to maintain your life needs. But, the risk of losing your money through Bitcoin trading and you don't have job anymore because you have just quit your job then it's doom for you.

I'd prefer you keep your job and treat Bitcoin as your long-term investment by HODLing. It's way better than just sticking to one source of income with the unpredictability behavior.

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Quote from: Bitcoin_people on June 13, 2023, 01:44:02 AM

If you have to adopt some strategy to trade then it is always possible to make profit by trading. There are people who do trading business to manage their daily life and continue trading as their source of income. A person starts his trading business first with Bitcoin. The risk of losing money while trading in Bitcoin is low, but there is some risk of losing money when trading in other cryptocurrencies. But a new trader can never perform well if he doesn't have that much knowledge about trading. So even if you invest in Bitcoin for trading, knowing the trading strategy is the most important thing.

If you hold Bitcoin for a long time then there are a huge chances that you'll gain profit but if you are expecting a profit on daily basis then that is difficult because trading is not stable as you think of, even you have a solid strategy there are really days that your entry is not going your way which means you losing, yes there are really traders that making it a business but keep in mind that they invested huge amount on it and their trades are not daily , it takes months or even years and trading is not their source of income as they have other source, if you are just normal person and has only few bucks to do trading and starting out your trading journey it is better to like have a job first and make this a side hustle until you've got a proven record like 3 years in trading and constantly making this profit.

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Quote from: molsewid on June 12, 2023, 03:57:33 PM

Quote from: iBaba on May 05, 2023, 07:09:45 AM

As a young person, I am overwhelmed by my curiosity in trading Bitcoin, but I'm not sure if it is appropriate for me to resign my white collar work and return to trading exclusively Bitcoin.

This was a conversation a buddy of mine and I had yesterday, and I felt compelled to bring it to this illustrious platform for the best types of advice and counsel.

Is it safe for a Bitcoin trader to quit their jobs and focus solely on Bitcoin trading if they can devote their time and attention to maximize the benefits in the Bitcoin world?

My answer to this one will be , you can do both. Do full time work as well as trade if you can manage your time and also you need to learn more about trading first so that it would be a good fundamental. I know many people who do both and when they finally know and their PNL are getting better they will decide to quit their jobs, maybe you can do that as well.

Yes, doing it both then decide if you feel very comfortable with the knowledge that you already earn during your trade sessions
will give you good opportunities.

It's more on how you understand the risk and the potential benefits. If you see that you are fit to this business, and you can grow your
initial investment, then go and take your shot in this business.

Your own assessment will give you the decision that you'll need to take.

Topic: Can Bitcoin trading be my sole source of income? - page 3. (Read 1320 times)