Topic: Do you quit your office work when you start Making profits from trading? (Read 1179 times)

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Quitting your job or having that resignation isnt something that so simple kind of decision on which at the moment that you do make such option then make it sure that you do have other income sources on which you can be able to rely on because quitting your job is not just some kind of joke and come to think off that getting one is really that too hard due to tons of competitions. This is why before you do make out such decision then make it sure that you are wary about on the potential risks that it does have. Make it sure that you do have those back up plans because if you do quit up directly because of some temporal huge profits in trading then that would really be a suicide. The main key on here to see before you do make out such act is to make yourself that being sustainable with trading on which this isnt something a skill that everyone will be able to obtain or simply this is really that a matter of time and tons of efforts that you would really be that needing. For me on which wont be quitting up my office work even though its really that indeed hassle or that stressful considering with that daily commute but this is where we do able to survive and live. When it comes into a point that you do have that other income source on which earning on more than on what you do earn into your job then thats good but you should be putting up some targets for you to consider on quitting or resigning. For me, i would be stopping or quitting if the time comes that my trading profit is really that able to give 5-10x on my current salary and able to make up some sustainable history in  trading for about 2 -3 years maybe, then it will be that sufficient enough for me to tell that im a profitable or sustainable trader. Well, this is really just that my own threshold or limits before doing such act because we do know that this isnt something a joke that you can be able to directly made out such thing.

The desire to leave the office and focus on trading arises in a bull market, when most orders are closed with a profit. And if a trader manages to invest his profits correctly, which will later bring him a guaranteed passive income, the amount of which will cover his current expenses, then it makes sense to part with the office and focus his efforts on investing.

Besides that, at times when you have spare cash with you, you'll feel like to invest it all which is called as compulsive buying.
I have suffered from it and this can cause your bank balance to vanish. This is another reason to not leave the job when you are making profits.
To avoid this, we must set a strict budget for trading and try not to cross it buying everything we can when the market falls.
We do need some spare money for our basic necessities and emergencies.

No matter how much money you actually make online by doing remote jobs or by trading, you should have an income source in real life. It could be a real-life business or a job. It is not a good idea to quit office work no matter if you make profits or not. It could lead you to get fired from the job because you were not working.

If your online income is not stable, you cannot rely on that. So, getting fired from the job will be the worst thing. I do not prefer my online work over my office. Because they provide me with a salary and I am committed to providing the best version of myself to the company.

First, you should know that trading is not like gambling, where it is uncertain how much one can make from it on daily basis, trading is much more than this and I can tell you that it's very possible to trade reliably, by reliably, I mean you can trade for a livelihood, I know alot of people who have nothing else doing aside trading, and they are super successful financially, and live luxuriously.

I personally isn't much of a trader yet, since I am not good at it yet, but assuming I get to that stage where I become a very good trader, I don't mind quitting my job to focus on it, for regardless of how bad the market is, a good trader can set, and always meet his target every day, or at least, most times every week, trading is a good and reliable source of income.

It's hard to predict whether you need to be a little patient or very patient. What, if you bought Bitcoin a few days ago for 97K and the price keeps falling for a few months? What if 4 month passes and Bitcoin's price ranges between 70-80K? This is definitely a virtual case but that's very possible in trading. What are you going to do for 4 months? Maybe you haven't got enough profit to cover 4 month expanses and/or what about if something unexpected happens? Trading is a dangerous game.
You shouldn't leave your job easily, especially if worked for a long time in certain company and that's why you get a better position because if you are easily replaceable, it will be harder for you to get a good job easily. If you a senior software developer or something like that, then yes, you have the priority to leave your job anytime because you are constantly on demand.

When you are a family man then it will be that normal that you will be giving out tha everything you do need to provide something into your family on which as a father/husband then you will be definitely be focusing into the things on which you do know that it could be possibly be able to provide on what your family needs and naturally you will be that sticking into it no matter what. On the moment that we've seen ourself being profitable with trading then its normal that you will be trying out to deal up with it and make that full term engagement on which this isnt a bad option either. This is something a skill that you cant be able to learn in a short period of time but on the moment or time that you do have a good grasps into it then this is  a lifetime skill that you can have.

Quitting office work will be risky but on the moment or time that you've seen that you do able to make money on that sustainable manner then it wont be that a bad thing that you will be making it full time. Just make it sure that you are that making up such decision at the time or moment that you've seen yourself that can be able to make money and could support on what your family needs or simply being able to support out in terms of living and shelter on which these are the things that matter the most.

The most important thing is how you can provide for yourself and your family, be it food, clothing, or shelter. So far it is very difficult to do that if you do not have a steady income, if you trade Bitcoin or other altcoins it is very good provided that you have enough money to trade there, so that a few percent of the profit you get can meet your needs for several months, of course this is very profitable without you need to go to work every day. But if you don't have a lot of money that you can invest, you should keep working because again the most important thing is to meet the needs of the family, that's the priority.

There are some who are spending hours finding the perfect entry and if you're working for 8 hours, this will just be a distraction especially if they're making way more money in trading than working for 8 hours. I'm talking about those swing traders who are expert enough to make money in trading. Maybe if you're a position trader then you can do both of them, but there are some who just prefers trading maybe because they don't want to get stressed out that much.

We have this mindset of having multiple income source is better, but there are times where one income source should be enough for a person to pay his bills, invest into something and live the life that they want. Expert traders are like businessmen for me. They're expert only in one thing, but they can make money from it because they know what they're doing. Having multiple income sources is better, but not a requirement nor a need.

As for trading being an alternative income source, most of us prefer that way, but there are a few experts that doing it as a full-time job... because why not? I mean if you're earning 3-4 digits per day in trading, why should you go to work, right?

That's the risk. A risk that most of those who quitted on their job didn't saw. They thought that trading would be a better source of income than working 8 hours hence, they quit on their current job. Trading is a very risky "JOB", so quitting your current work for the sake of trading isn't advisable. I said this in the past, but maybe if you're consistently profitable on a monthly basis for the last 2 years then that might be a sign for you to quit your 8-hour job for trading.

That's right and there is the misconception of people that a trader should be on the monitors for the entire day. Well, day traders have to be but there are times that they can easily be relaxed and just check their trades through their phones.

This is the new norm in our generation, having one source of income is no longer enough to keep up with rising cost of things and spending. And that's why it's true that trading is another good avenue for someone who wants to earn more.

Well, if they are a good trader, there's no problem with that. All they have to do is to make sure that they can keep up with their lifestyle and continue to win their trades. And those people that have complained that they have lost their money in trading and quit their jobs, they're like folks that have been caught up by hype.

Trading is not something that requires us to be on our laptops or mobile phones for so many hours, some professional traders do trade whenever they want to relax, so you don’t have to quit your job just because of trading. You can just go to work in the morning, whenever you are back at home, you can just decide to trade and relax yourself.

Also, having just a source of income doesn’t make sense to me, we are supposed to have multiple sources of income. In case anything happens to one, then you can depend on the other, so if you depend on only trading, if things end up getting difficult and you're not making much money from trading, then how are you going to be surviving? So I believe trading should be an alternative source of income since you don’t have to spend all your time trading.

Most people who decide to quit their job just because of trading might end up regretting why they did that when they are no longer making much money, because I saw people complain about how they lost most of their money in trading during the last bear market, actually most of them were participating in future trading, which we all know is very risky. So just imagine you left your job to participate in trading, and you lost everything, you won’t have a choice but to start looking for a new job.

Of course not because I am one of those who believe in the principle of working and even if you can make money from trading it is a skill that can be combined with working as usual.
If it can be done simultaneously why should you quit your job, unless we decide to take the step of retirement and that is done if the financial structure we have is sufficient.

That is part of a much more rational reason because even though you see on any video channel that says their job is only trading and they say they are successful here, but not everyone can achieve that because trading does not guarantee someone can make money consistently.
The mistake many people make is not considering it because they think that by trading they can generate a steady income, but on the other hand they do not understand the risks of trading if it is not handled wisely.

But just make it sure that you arent that making use of the money on which that you cant be able afford to lose. Lets say that you do have that $10k capital and trying out to make some $1000 in a month then its possible but of course you will be needing up to have that good entries on making some buy and sells in between movements towards the price of Bitcoin. 10% gain in a month lets say that you are targeting on Bitcoins price movement is really just that easy. The hard stuff on here is on how you would be able to predict on when Bitcoins price will be making up corrections on where you will be making that kind of entry on which at the moment that it will recover then pretty sure that you would be making some profits. Quitting up your work will be that a risky move to make but if you do find out that you are already sustainable then it wont be that bad to make up such decision. It is really giving out that good feeling that you dont have a boss that will be ordering you around or having the hassle on daily commute but i do agree into the points above on which if you are that wanting on having that couple or tons of multiple income source then you wont be considering out this kind of act but rather trying to pile up even more. For trading in futures then this is really that more riskier, yes the potential gains will really be that higher once you do able to get in on the right trend or simply on the good entry but with leverage trading which the risk is more higher and this is somewhat understandable and need of tons of considerations before you do make use this kind of path.

If someone is going to that work not because of needs but because of something to do, I love to be part of that 1% that there's no stress, no pressure of waking up but you just love going to work. And after that, we can do anything that we want to do and that's it. You have multiple source of income and you're not pressured into quitting unless you are decided to leave the job and the title that you have there when you can stand on your own based on how good you are as a trader. Many did that already but as someone who wants to make sure that you'll never ran out of money, you still have salary source while trading.

With large capital, you don't need to calculate opportunities like in future trading to get a profit of $1k in a month. If you have $10k as main capital, then you might just need to be a little patient to wait for price movements so you can make $1k. Strategy and capital are very decisive, even if you only focus on spot instead of futures.

I wouldn't say traders can consistently make profits every month in the same amount with a certain amount of capital, but you won't lose all your money just from trading, especially if you can avoid trading futures. Just try trading on the btcusdt pair on spot, this is also a good option to make a profit, especially when you have capital and understand the strategy.

Trading is a professional job, this is what I think you should first and foremost realize.
Central banks and other big firms around the world have professionally trains personels trading for them, likewise exchanges have professional in-house traders.

A person can train him or herself to become a professional trader, and what this mean is that, you can (with confidence) depend on trading for livelihood.

For someone who is just starting out in trading, it's not advisable for him or her to quit his or her office work just immediately he or she starts or sees his or her first profit, he or she must wait until a certain level is achieved, this level is a level where he or she becomes very good that he or she is now consistently earning from trading, much more than he or she is being paid as salary in the office, by this time, quitting the office work to invest more time in trading can indeed be a good and profitable move.

That's true, mostly newbies do that kind of crazy staff and that's very bad. They get false sense of confidence during bull market because almost every their choice of investment generates profit quickly but they don't know that that's common during bull run. Because of this false confidence, they leave their jobs and start day trading. When the bull run finishes and there is a time of bear market, they are left without job and lose lots of money because 99% of coins don't generate profit and if they try short position on futures trading, high leverage and sudden pump and dump liquidates their positions.

You can earn $1000, $10000 and unlimited number of money with trading but you have to calculate your chances here. How big is your capital? What's the chance of you earning $1000 profit per month? Income from trading is not consistent and there is a high chance of trader losing all of their money instead of regularly making the profit.

Well, if you CAN make profit for a whole two weeks I don't see why you should lose it. It means you've already got it right at some point. You will have to work on your money management strategy. Have a trading journal and then return to it and find out what could've gone wrong. That's what trading for profit should be. Trading should be seen as a business and not as a vocation.

If you keep waiting for a time when you won't have losses, it WILL not happen. Every trader, even professional ones who are very profitable, do have moments they suffer losses. It's normal in trading. Most times when I've a long winning streak, it feels scary and boring and I would ask myself "when are the losses coming?" 😂. I've come to acknowledge that for trading to be what it's, we've to balance up everything; losing and winning.

this. it's always good to build a strong ground first before quitting full time job with the prerequisites that the job is doing well and we're just bored of the same routine.
but having income is never a bad thing, unless we already built good enough capital from trading as a side hustle to get going with trading for a full year at least without thinking about making ends meet, it might be plausible, less than that, I'd be hesitant to quit job because future are so uncertain.

with trading, we just don't know if it's one time luck that we're profitable or it can be sustaining, the result can only be known after we've been trading for quite some time, for me maybe 1 year of trading and I will summarize my net profit, if it's quite good enough, only then it makes sense to quit the job.