Topic: Do you quit your office work when you start Making profits from trading? - page 3. (Read 1179 times)

Many people dream of having a stable job and income, many people are willing to give up a job with unstable income to choose a more stable job despite the lower salary. Meanwhile, trading is considered the most unstable type of job, so quitting your main job to devote yourself to trading full time is not a wise idea.

I see some people supporting this idea and I don't know if they are successful with this option. But honestly, I have never seen a full-time trader without a main job or other source of income who still has a stable life, let alone get rich with this idea. So I'm not really in favor of this idea.

I don't know, with the fact that crypto economy is so volatile it could be profitable to go full in crypto. But I personally would not do it. If I would make huge profits I would still do a normal job at least for half work time as a safety net.

It all comes down to personal preferences in how much risk you are willing to take.

Most traders decides to quite their jobs to concentrate more on trading because they feel they have understood their ways so well and they can be able to stand the chances and based on the profit they have been able to gather through the period they worked and traded I see no wrong if they decides to put more focus on trading than any other thing.

I have met a couple of people who are full time traders and they have been doing so well over the years because they took out time to learn and understand what trading is all about before they ended up choosing trading as a full time job. Personally I think it's all good for anyone to decide what they want to do so long as they end up making money and having the best thing they want to have in this life so if trading will give me what I want thean I'm ready to drop everything else to focus more on trading.

That’s a solid time frame to test your consistency, and if you decide to quit, at least it’s backed by a justifiable reason. Making a profit for a year is already a big achievement as it shows you have potential in trading.

Sometimes, sticking to a job feels safe, but it can hold us back from reaching our full potential. Taking risks is part of growth. That said, if things don’t work out, having skills means you can always find another job. Just make sure to resign properly and follow the company’s rules, so you leave with a good record in case you need a referral later on.

I guess we can put it this way.
If you're monthly profit in trading can cover your monthly salary in your office work for at least a year or two then that's a good time for you to quit your office work and focus on trading.

Consistent profit is the key here if you want to quit your office work and focus more on trading. You already said that profits in trading aren't guaranteed that's why you need to achieve profits for months consistently. Overall, I don't recommend quitting for the sake of trading TBH because it's too risky, and even though there are some that are doing it, I believe they have a plan B or plan C just in case they fail in trading.

Currently, I'm not on a 9-5 work so I don't know the experience personally, but if I had to, I will and will continue to trade as well. You can still make 1-2 trades on a daily basis while working, I believe.

We can say that trading can be something that can increase our income, because having a more certain income is safer than having to test your fate by trading completely. That's not wrong, of course, because some traders make trading their source of income. But we also have to know how long it takes them to make it like that. And I also see those who are already good at trading also doing other activities or investing their profits in other and more real businesses. Moreover, trading is flexible, we can do it anytime, so don't let this interfere with others, such as permanent work for example, or vice versa. Don't let our work interfere with our trading activities, because in fact it can be done simultaneously.

Never been advisable and just like been said that it is really just that good for side income and come to think that not all the time you will really be that profitable with trading on which we know that it is really that not giving out that assurance that you can make money or profits with it on which you can be able to sustain specially that we are really having a living. We do know that when it comes into this aspect on which you will be needing up money for you in order to survive and if you do base up with sustainability then you cant be able to trust up trading profits. It will really be just that too impossible for you not to determine whether you are profitable or not. Actually there are some traders who are really that profitable with trading on which they have quit up their main job and just solely focus on doing it. It might not be that easy but its something that not impossible but of course everything will really be basing up on how well you do make out some trades and how to sustain yourself. If you are just that new to trading and doesnt acquire that sufficient skill and knowledge towards it. You are the ones who could be able to assess it out whether its something that you can be able to handle or you will be able to find yourself having some probabilities that you can make things possible. Quitting up your job or office work will really be that needing up that kind of assessment whether you are that profitable and sustaining with other careers that you are hovering into.

For the fact that trading is unpredicted and you can't even predict the future of the market,  it is not advisable to leave your job and to depend on trading profit no matter how good you may think you are in trading . You can be having good trading profit today but later on it turns to something different because trading is all about profit and lose. Income you get from your job is always certain because it will always come but trading profits are not certain, you can't really tell when to hit the profit,  the amount, so I see no reason why one should quit his/her job for trading. Trading is unpredictable, no matter how one may be sound in trading sometimes we may be dissapointed with the trading outcome we get.

Trading can generate more income than other traditional or office jobs, but it is unstable . There are months when the market is favorable and you can make a lot of money, but there are also times when the market is too volatile and making a profit is not easy . It's at times like these that we realize the importance of having a steady source of income, so OP should consider carefully before making a decision .

Of course there are many other ways to make money online and OP can combine but it is easier said than done and not everyone can do it .  OP should have a clear plan and build a stable online income source before quitting the office job instead of rushing to quit the job and then start building an online income source .

I havent worked a typical 9-to-5 office job before, so I cant directly compare trading to that.  But I can say that trading definitely does not guarantee youll make money all the time.  The profits you pull in depend on stuff like how the markets are doing that day, how good you are at making trades, and plain luck. 

If youre thinking about leaving your steady office job to trade full-time youll wanna make real sure you know what you are getting into.  Take the time to slowly build up your trading skills first before taking such a big risk.  Talk to other traders too to get an idea of the lifestyle and  many folks dream of that freedom, but its not as easy as it looks.

Why would anyone on this planet Earth, with good understanding about trading, quite there job just because they are making profits from trading. There is no need to quit trading because anything can happen in a long run. Even though you intend to quit your job as a trader, that would not be immediately, maybe after few years you have mastered trading and you have a good understanding about trading. I will always focus on myself being a better trader and keep working and trading at the same time. This might not be a easy tasting but it's necessary for us to get into the system with a very huge profits as a trader before we intend to quit the job and focus on trading.

Trading is a volatile business and not everyone makes a lot of profit from it, and even if you are a good trader there will be periods when you are not going to make a lot. That's when you started to eat from your capital and that means you will not have a huge capital and you will end up not making a lot when the markets get better as well. This is why having a steady income is important.

This doesn't have to be a job, as long as you have a steady guaranteed income from anything then you are going to be fine, but you can't get rid of that, you have to have some. If you end up stopping that, and have nothing but your trading as income, then you are not going to end up with any benefit at all, it will end up being something not so nice and you will end up regretting your decision as well. So keep trying your hardest to find an income, that could be a salary from a job, could be rent income, could be interest from bank, whatever you can do to get that.

Trading should be seen as a secondary means of income, and you need to quit your primary means of income despite making profits from trading daily. I wouldn't quit my job, because I can do both without quitting one for the other. It's good to have many stream of income, so that you don't depend solemnly on one source in order to expand your financial strength and financial security.

Fake gurus arent those one who do fail at gambling because there were actually those people who do fake out completely without having some  knowledge about trading and just simply trying to copy paste analysis that he/she found on the net as if it was his/hers. This is why newbies do usually get victimized because they do easily believe with these claims because of lack of knowledge and making use of their own common sense and thats why they do really end up on easily get fooled with these fake gurus. Getting up some ideas at least into the things that you are currently dealing will be at least help you out on being wary into the things that you've been that trying to engage on. Quitting on the moment that you are profitable with trading? It will really be that up to you but we do know that trading profits isnt something that will really be guaranteed and if you arent that sure or confident about trading profits then you cant just quit your job and making it as a side income at least on where you could be able to make yourself that having 2 possible source of income. The more income source the better and this is what people been thriving into. Its not just that limited to trading alone but also in other possible income sources as well. Quit when youdo know that you can be able to sustain and dont if you arent that confident with your trading skills.

there's reason why there are so many fake trading gurus creating a trading class and selling it few hundred dollars a month instead of going trading fulltime because they know trading is not gonna be a stable income and trading is difficult, you're literally up against whales with access to bloomberg terminal and some advanced tools, you got the short end of the stick and you need to compensate to just win a little money.

I don't think quitting job and go full trading is the right thing unless you can prove yourself be able to make more than $100k yearly net profit to be able to sustain even then this profitability will not hold for any longer once greed influence your trading decision.

When we have been trading for long we can then distinguish the difference between confidence that comes from we knowing what we are interpreting because we have been doing this for so long that we have gathered enough experiences to help us make better decisions and not be gambling on our decisions. When you are using the trade history as a backup for your speculations, your confidence is coming from.the right place but when your confidence is based on your gut, you are using your emotions to make judgement on the market and it would not end well for you. Emotions are not supposed to be used when trading because there has not been a trader that made use of his emotions to trade and was successful.

Self awareness on what are the things that you are dealing on with is something which you will be needing up to consider because if you do deal up with trading but you dont really know on what it is then you do become that impulsive and highly reactive specially when the market do make out some dumps or correction. If you arent that prepared on whats to come then consider yourself on not ready for this volatile space. Its never been easy but its never been that impossible for you to have that higher chance on making up some profits or income. It all matters about on the skills that you do have and on how you will be able to hone up well on which it comes into a point that  you do really know on what you gonna do. People do usually rush up on dealing up with something at the moment that they've seen other people do make out some huge money but on the moment that they are the ones who do experiencing it then it will really be that a different situation or condition.

On the moment that you had reached up into that point that you do able to make money and being that independent already about financial gains because of trading then it will be that up to you whether you will be that quitting up your job or you will be that still having a job but focusing a bit much with your trading since this is where you do make money mostly.

Crypto trading in this industry is not easy, it can only cause stress and problems for anyone, if you only have enough knowledge, but if you really know the right approach and strategy
to use to get a profit, then go ahead and do the trading activity here.

But like I said, this may be the source of income here but it can also be the one that can drain the money we have, let's not forget this.
So it's not just buy and sell as most people think.

Confidence is important, but sometimes we find it difficult to distinguish which confidence grows from our abilities and which confidence comes from the emotions within us. Both are very difficult to distinguish and therefore we must be able to identify ourselves first and measure the extent of our abilities and knowledge. Because when we are tired we usually think short, such as when we work and we start to be able to get profit from trading, then the feeling of tiredness will encourage us to think illogically and it will also be influenced by emotions. So this is a difficult thing, especially if we have not been in the trading room for long.

Yes and moreover trading can be done anytime, we can do it after coming home from work. Indeed sometimes we have to get out of our comfort zone, because when following the ego then we will definitely think about being able to enjoy more time at home by trading and leaving work that must be bound by time. However, we also have to learn, that there are many people who end up regretting their decisions because they don't get out of their comfort zone. This applies in life, including in trading. When there are 2 choices in front of our eyes and both are good, then why choose only one, it is better to run both.