Topic: Day trading is perfect work for jobless peoples - page 2. (Read 1968 times)

If we only focus on trading then we will have difficulty if we experience failure in trading and I really agree with you if we do and still have other jobs that we can do besides trading because if we only make trading our main job then this will make us not be ready to face losses in trading and we must be able to bounce back from failures in trading to be able to make a profit, when trading it is of course very important not to be greedy and not have patience in trading so that we will only experience losses from the trade.

You would really be able to tell that those people are really that having no knowledge about trading and really just that saying things as if that it was possible or really that looks easy but for those people who do have that experienced then for sure they are already that wary or aware about the reality of trading on which its never been simple and its not something that you could really be able to make it as a day job.
On the time that they would really be able to test up for themselves then they would really be definitely be able to say that it was never been simple and never been easy.

This is why it would really be that wise that you should really be that making yourself wary before you do dive in with trading.You should really be trying out for yourself before you would really be
deciding that you would really be that doing trading or would really be that trying out to check out first whether it would suit you up or you could be
able to bare up with the risks or not.

If someone can make a daily living with trading, that's a good thing. If it's just a thought and you don't know how to do it, it's not really wise.

I agree.
If you're not yet that good, you can do it as a side hustle and that's why you still need to have a normal job to support that practice of yours as you trade.

Lol. So you think day trading is easy or does not take a lot of your time?

The truth is, with day trading you will either lose your money and your time or you will barely make any profit and lose a lot of time. This rings true for 95% of all day traders. In the long run, it would be smarter to just hodl your Bitcoin and DCA with the income from a job.

Day trading as a sole income source is possible, but it will take so much time that you might as well get a normal job and you would earn more per hour, relatively.

 

Definitely, trading will be a profitable and easy job if done correctly because trading has never been an easy thing. Although trading seems to be the simplest form of buying a financial product at a low price and making a profit by selling it at a high price after its appreciation, the real aspect of the trading is much different. Constantly following price movements and news, analyzing possible price movements with the changes of indicators, making up-to-date technical analysis on the current chart and ensuring correct capital management are actually the biggest and most important bumps on this seemingly simple road.

It is a very difficult process especially for an unemployed person who doesn't earn a regular income to earn money by trading and continue his/her life in good conditions because it isn't possible to earn money always and instantly in trading. In addition, the constant outflow of money from the capital of a trader who doesn't have a regular income for living expenses will prevent that person from earning high profits due to the constant decrease in his/her balance. In short, since an unemployed person who doesn't have a regular income constantly loses in trading and consumes money from his/her capital to meet his/her living expenses will generally cause the entire balance to be depleted, it causes us to remember the fact that individuals who don't have a regular income are less likely to be successful in business.

Trading daily to earn a living is not really wise thought. Rather it should be like a side hustle that only adds to your normal physical job.

As a beginner you will likely blow your accounts severally and if you don't have wat to fall back to it will really tell on you. So first of all own a live business/job grow it and keep learning how to trade till you get to the level you want.

I really don't think it's a nice idea to have nothing doing, and just focusing on trading, it's a wrong move we should all avoid, because since you have no other sources of income except trading you wouldn't be patience enough to wait for the right set up, and secondly, you are always going to be under pressure since you must return with an income at the end of the day which might leads to significant losses.

Trading is mostly beneficial when you have something doing, which will take your mind off trading sometimes, because it is very important that you have a life going on for you aside trading, and finally try not to depends on trading for survival, so that you can succeed by not being under any kind of pressure.

In fact, trading at the very beginning and even with quite successful traders who have not yet become rich enough is impossible without hired work. Hired labor reduces the risk that you will lose your source of funds and will have nothing to pay utility bills or buy food and clothing. Yes, the unemployed have a lot of time, but trading is an activity that depends little on the amount of time invested in it. You can spend several years trading and not receive any income. Or you may even make a loss. Conversely, in a couple of weeks you can provide for yourself until retirement. So I wouldn't put much emphasis on the time you spend trading. On the contrary, I would recommend trading less often and conducting more analytical work on the market.

For those who already have a proven advantage in day trading, they will certainly make it their daily job in addition to their main job in their own environment. This means that anyone can do this as long as they have sufficient knowledge and established capital for it so that when they have to bear a loss on a certain day, they don't experience excessive stress and know how to get it back the next day. So apart from referring to the essence of what you said, everyone also needs to refer to their own patience if they don't want to bear the losses that are visible on a certain day.

Yeah, trading can be profitable, and if done correctly, then you can expect a great reward or profit, but the catch is that "if you do it correctly,"  trading is not easy and will never be easy. It has been said numerous times, and I have also said it in many topics, but solely relying on trading without any stable job can be a bad move or could result in the worst scenario.

You see, you can lose your funds or investments in trading, so imagine you don't have a stable job or are jobless, but in trading, do you have the guarantee that you will always earn from your trades? Even experts with long years of experience sometimes lose trades because there will always be a margin of error in every trade. So I recommend or not recommend, and I will mandate that you get a job first before you engage in trading; if not, then it's up to you what you will do in difficult situations.

Solely relying on trading,will require more dedication and consistency in the process of trading.
But I suggest if one has not attained a certain level which might be having constant profits,daily increase in your portfolio,reduced loss,you wouldn't be successful in trying to make trading your only source of income.
Stick to your Job till you can have a proven edge, rather be taking certain percentage of your salary and fund your account,this also reduce your high expectations and relieve pressure and quest for bigger profits.
In essence,Day trading can be done by anyone as far as  the person has a proven edge.

I find it funny actually that so many comments here as in other trading discussions prove that half of posters at least aren't even trading, or in fact have never traded before in their lives. So much wrong information.

I keep telling people, you trade you learn nothing useful that can help you in life and career unless you actually want to have a trading career.

You can't get things free and easy, life lesson that people fail to get

Only holding is for everyone, trading is not for 99% of people.

not sure about that, because sometimes Time are bringing us enough space to deal and to decide , not just because of Bot instead because of our effort finding the right one , meaning we need to use time still to earn better in daytrading.

Daytrading isn't a perfect at any cost mate , because this is not as easy as how you express
 this since there are only few who successfully made money in trading world so how come that this become perfect?

better not to believe in this completely because you knew what will happen if you over expecting .
though Jobless needs trading for them to be fit but with care ,
 if they made small mistakes then they will lose everything.

I myself had been here for how many years ,
but I must accept that there are only few chances that I earn more from trading instead HODLING is what brings me more profit from the start.

I'm not sure suggesting unemployed people should squander what little money they have on speculative trading which is little more than going to the casino with a fool proof get rich scheme.  Researching stocks and bonds to see which have made a profit, found new resources or patented new things are pointers to stocks that will perform well over time, not which five minute candle has turned from red to green or visa versa.

Sooner or later you would really be making yourself getting desperate because you have lost that much, you arent expecting that you will lose money rather than on gaining on which this is really basing up with your initial impression on what most newbies do. You wont really be able to learn up things on point but rather it would really be depending on the experience that you had able to encounter and you would be finding that its never been something that suitable or getting in line on what you do believe basing up on what you do currently encounter. This is why errors or mistakes do usually come at the end because of lack of initial research and lack of understanding on how this market works and not to be able to reassess things which needs to be done first before making such act or step.

I agree on what you have said that traders could make a living out of the market playing with those movements but its not something that everyone could be able to acquire or achieve out.
It would be needing tons of experience and skills for you to find yourself that sustainable.

Well, in my opinion you are not exactly right. Even in trading you depend on the market, coin volatility and other things you cannot predict.
Trading is about knowledge and skills, like anything else.

Funniest thread I read today. I am not laughing at jobless people because officially I am jobless as well. But the point of the thread is wrong and it is actually the opposite. Jobless or people not generating income regularly should never do day trading. Trading is easier said than done after seeing people earning a lot of it. And day trading is even more difficult compared to the other type of traders out there.

This is why I firmly believe that financial management should be mandatory in all courses and even companies and government offices should have a yearly financial management training.

That’s why i am talking about this. trading is risky thing then how can a jobless person afford this risk where he/she is definitely weak financially. so in this situation when that jobless person will loss in trading then he will very emotional and at this point he have  to take loan to meet his Daily expenses. so a jobless person always need to a deep think before start day trading. long term holding is less risky then day trading but it require long patience

Very risky indeed and we do know that you would really be needing up capital on which means that if you are that someone who would really be having that struggling on having a job but ends up on making trading

as their last resort then they would really be putting up themselves on big trouble on which its true that it isnt something an option for someone for them to be able to sustain knowing that trading is never been simple.It would really be requiring that sufficient knowledge and skills for them to be able to survive and making a living. Going into the situation on which on a particular person do ends up on becoming a
real trader or professional is on the time that they could able to sustain out on making profits in the end of the day but acquiring these skills wont really be simple as it sounds.

Yes, there are traders who could really make out a living but if these things are you trying out to pursue just because you do see this is the fastest and worthy way on making yourself having that financial
freedom then you do really have those wrong or misconceptions in mind which needs to be corrected.