Don't ever quit your job to trade crypto. - page 10.

suzanne5223

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Quote from: Trojane on November 10, 2021, 06:16:02 PM

Hey.! Lets be honest here

Trading is someone's investment,creativity,time and business.;someone sat down to program everything including the BOTS that trade for most companies too. Now if you're trading forex and maybe you didn't read the news for the day properly so you ended up selling gold when the market is set to buy: automatically you're running on loss,the candles are useless and will keep reading minus.
The question is,
* where do loses go to? Vanish into thin air? Cheesy

The company and its affiliations are all making huge profit daily as you lose coins so how then will someone with his right senses abandon his job for trading? No body does that anyways

You make some important points but some people's decision when make profit trading from time to time especially during this season that the market is always bullish will surprise you because when they are making awesome profit they always thought that how the market will always be. This remind what some Twitter influencer tweeted " in the bullish market every trader is an experienced trader".

Trojane

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Hey.! Lets be honest here

Trading is someone's investment,creativity,time and business.;someone sat down to program everything including the BOTS that trade for most companies too. Now if you're trading forex and maybe you didn't read the news for the day properly so you ended up selling gold when the market is set to buy: automatically you're running on loss,the candles are useless and will keep reading minus.
The question is,
* where do loses go to? Vanish into thin air? Cheesy

The company and its affiliations are all making huge profit daily as you lose coins so how then will someone with his right senses abandon his job for trading? No body does that anyways

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Quote from: ogundowotoby01 on May 05, 2021, 06:15:27 PM

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

I don't think trading is that greedy that you cannot be trading and still be doing your work. If it's truly a passive income, you should find a way to combine both and grow your portfolio.

Smartvirus

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One thing people ought to avoid in life is limitations. Don't even think of giving yourself one for a second! Limitations keeps you away from the opportunities or rewards that follow whatever. Its a high stake risk to live what comes with a lot of assurance for something that has a probability nature about it. I've never seen anyone that we could say is smarter than the market, you can only try.

So, dumping your job or career for cryptos is not a bad idea. What stops you from having two streams of income? Try a merger and you just might win in both.

Falconer

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Quote from: Taskford on November 09, 2021, 06:29:04 AM

This is the reason why many newbies fail because they always live up with their fantasy and think about always winning when they do trade but in reality we cannot really assume that in a day we can earn decently knowing market is so unpredictable and even how good you are doing a technical analysis still this will never give any guarantee that we can precisely hit our targets. That's why its always better to stay on your job and do trade since for this we can make our life stable and away from being broke.

It is difficult for a trader to quit his job just because the market fluctuate all the time. Some of them may be able to make hundred to thousand of dollars a month but they cannot be consistent with their profit. That's because price fluctuation are the main problem.

The win is on the investors side where they can generate high ROI as they invested in bitcoin and some altcoin in the past to present. I believe 90% of investor who bought bitcoin since 2015 with a capital of $5000 for 20 or 21 bitcoin and held them until 2021 at least until april can quit their job once they profit by selling all the bitcoin. No job in government can earn like that in just 6 years unless they are corrupt. So if someone want to quit their job just because they are interested in bitcoin or altcoin then become an investor.

In my country if someone spends as much as $2000 every month just to make end meet then they are rich people. So the 21 bitcoin he bought in 2015 could support him for 60 years. This is just my guess.

Taskford

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Quote from: Dragonfund on November 08, 2021, 04:37:44 PM

Quote from: Refrumatrix on May 06, 2021, 12:21:00 PM

You can't do jobs with real crypto trading, you need to face one and leave the other to become a pro in trading, I'm not talking about casual traders but the real deal here, there are few things to overcome physically and mentally if you really want to be a pro trader

The circumstances may not be as you view it buddy, look at a YouTuber who always give update to his viewers and give some insight about what's the hot thing in cryptocurrency and trading can do the two together with out affecting the other part. It will even make it easier for him to give more content to his subscribers from his experience and journey while making thread in the market.
The thing is, don't ever quit your job because of trading as anything can happen and the other may be your safe haven.

This is the reason why many newbies fail because they always live up with their fantasy and think about always winning when they do trade but in reality we cannot really assume that in a day we can earn decently knowing market is so unpredictable and even how good you are doing a technical analysis still this will never give any guarantee that we can precisely hit our targets. That's why its always better to stay on your job and do trade since for this we can make our life stable and away from being broke.

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Quote from: Issa56 on November 08, 2021, 02:30:43 PM

Seriously I believe you shouldn't have one one source of income

Do you mean to say that you believe that everyone shouldn't only have one source?

Quote from: Issa56 on November 08, 2021, 02:30:43 PM

if you are having a job then I will advise you not to quit your job for a trading and if you are a trader I will advise you to have another source where you get money from if you really want to make it in life you should have different source where you get money from. You can be a full time trader and get another job or business which will just be like part time business and if you are having a job you can make trading part time business.

There are traders, the good ones that settle for good and can stay be a trader all the days of their lives especially if they've learned different charts and patterns. They can analyze and do technical analysis and as well as fundamental analysis which can help them to survive in different seasons of the markets so having one or two sources while being a trader can easily be done by them but, most of them are choosing freedom.

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Crypto trading is a part time job that can be flexible with all kinds of real jobs or other jobs. Crypto trading can be done anywhere and anytime.
Do not leave the main job if crypto trading does not affect the main job.
There's a lot to think about, if it's just a beginner and trying your luck, real work is to support your capital in crypto trading.

Until now I still have a main job and crypto as a part time job.

If you want to leave your main job, of course your trading income must be consistent and will guarantee your life in the future.

There's a lot to think about. adapt to your life, don't be too pushy to continue trading or to leave your real job.

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Quote from: Refrumatrix on May 06, 2021, 12:21:00 PM

You can't do jobs with real crypto trading, you need to face one and leave the other to become a pro in trading, I'm not talking about casual traders but the real deal here, there are few things to overcome physically and mentally if you really want to be a pro trader

The circumstances may not be as you view it buddy, look at a YouTuber who always give update to his viewers and give some insight about what's the hot thing in cryptocurrency and trading can do the two together with out affecting the other part. It will even make it easier for him to give more content to his subscribers from his experience and journey while making thread in the market.
The thing is, don't ever quit your job because of trading as anything can happen and the other may be your safe haven.

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Quote from: ogundowotoby01 on May 05, 2021, 06:15:27 PM

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

The thing with any investment or business is that, no matter the amount of money you have, it is always good to start small and grow over time (don't test water depth with both feets). Because you are entering a new market and you need time to understand the market. Your job will stand as an insurance for you, in case of any loss. So keep your job, continue investing in crypto and growing your portfolio until the money you make from crypto is more than enough to pay for your lifestyle and also save. Then only can you quit your job.

Unless and until you are equipped in trading earning more than what you are earning from your job, than do not quite your job. Start trading as a part time job, learn its pros and corners and analyze what you are able to invest and how much you are able to take returns from the capital. Its common to all new traders to jump into it without much experience. Its not wrong but yes learn, stand by your own and yes quite your job.

Issa56

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Seriously I believe you shouldn't have one one source of income if you are having a job then I will advise you not to quit your job for a trading and if you are a trader I will advise you to have another source where you get money from if you really want to make it in life you should have different source where you get money from. You can be a full time trader and get another job or business which will just be like part time business and if you are having a job you can make trading part time business.

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I don't have any income in cryptocurrency yet although I have currently made some purchases for bitcoin and some potential altcoin that I will invest in long term. So resign a real job is not a good option for me to do now.

There are consequences that must be considered by anyone who is as a trader if they want to leave a real job and I think they should make sure the estimated asset they currently manage have been able to build other businesses that are equally profitable. Price volatility is another thing every trader should consider if they want to quit their job.

None of us can predict the future of cryptocurrencies including bitcoin and all the altcoin that are currently tradable. So it would be better to keep working while collecting profits from trading to invest in other businesses in the real world without having to resign from his job.

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Quote from: GeorgeJohn on November 08, 2021, 12:14:02 PM

Trading is something i have seen the equivalent methods as advantages and disadvantages in the same time, engaging into trading is good but is not to the extent of quiting in a job, except it's a situation whereby in the morning and night you are on system alone for Trading, so the advantages aspect of trading come this way, you might achieve a huge profit via trading through out one month interval without experience lost, while the disadvantages, can come and take off all the generated profit made for one month trading, so in nutshell, I'm trying putting these to everyone that trading is not what we can hope on, is better you have option A first for any othe thing and let trading represent your options B, because their is no assurance in trading to make a profit consistently.

Imagine leaving your stable job and regular income to a platform where all uncertainties are endless and possible. Though trading may yield significant profit (depending on the capital), it can also have the potential to backfire especially if you are a newbie to the trading world.

Personally, trading cryptocurrencies is a double-edged sword. One has to really understand the market and study the technical analysis in order to have a reliable forecast on their prices in the future. Be reminded that relying on a irregular flow of income may be harmful long-term especially if you have daily/monthly obligations to meet.

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Trading is something i have seen the equivalent methods as advantages and disadvantages in the same time, engaging into trading is good but is not to the extent of quiting in a job, except it's a situation whereby in the morning and night you are on system alone for Trading, so the advantages aspect of trading come this way, you might achieve a huge profit via trading through out one month interval without experience lost, while the disadvantages, can come and take off all the generated profit made for one month trading, so in nutshell, I'm trying putting these to everyone that trading is not what we can hope on, is better you have option A first for any othe thing and let trading represent your options B, because their is no assurance in trading to make a profit consistently.

Pffrt

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While you are true, I don't agree with your all points. It's very risky to trade daily unless you have good knowledge about what you are doing and they (traders) shouldn't quit their job, there's nothing wrong for HODLer to quit their job. There are a lot of early BTC miner, HODLer who have now turned into billionaire with a very small amoun invested. Why do they need to carry on their shitty 9-5 job while they can enjoyn their life with their own things? I'm planning to quit the job in the next few years too Cheesy

cheezcarls

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You’re absolutely right man. I remember one time that my friend decided to quit his job because he made so much money in crypto trading along with airdrops and bounty programs. He bought a new house worth more than $20k. However, his biggest mistake is that he already quit his job without being financially stable.

Relying on cryptocurrency trading (and being lucky on airdrops and bounty programs) isn’t making us financially stable. Because of that, his finances have dwindled quickly and even reached out to me to borrow money. I donated him $200 instead to at least help him survive.

But right now he had a stable job at the factory where the company sells kerosene. He had a decent salary at least, but this time, he won’t quit the job while still being active on cryptocurrency trading.

Same thing goes to me. I made a mistake relying on trading, bounties and airdrops alone. As a result, my money went downhill even months before the pandemic began. Right now, I am blessed of my stable job with a couple of crypto companies and ain’t planning to quit as they make me financially stable for now, but I am still hungry for more stable income apart from my online gigs that helped me get back what I’ve lost.

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Quote from: ogundowotoby01 on May 05, 2021, 06:15:27 PM

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

Well, the truth is that "no man tests the depth of a river with both feet." That goes a long way to explain the huge risk of drowning that could arise from such a thoughtless action. However, I do know that there are many traders who quit their jobs once they become profitable. The ones who still keep a paid job while trading are those who aren't profitable. If you've an idea of what profitable traders rake in weekly in profit you will know it's pointless keeping a paid job.

Quote from: ?? on ??

Cryptocurrencies retain a reputation as an asset on which anyone can easily make money.

I'm at a loss as to how that shitpost of yours relates to the topic at hand.

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Quote from: ogundowotoby01 on May 05, 2021, 06:15:27 PM

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

Because you can trade from anywhere so far as there is good reception, and also facts that capital is intensive in trading, to quit ones job without a strong reason and when capital is low and will not yield good profit in trading is not wise.

If you must quit your job because of trading, let it be that the job is taking all your time such that it affects other side activities you involve in like trading, and the paycheck is not a sufficient equivalent of the amount of time you put in, and that you have gathered enough capital, knowledge and experience to get you on your way.

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Quote from: ogundowotoby01 on May 05, 2021, 06:15:27 PM

I see a lot of newbies ask whether they should quit their jobs to trade crypto, and my honest advice is you should not try it.

The thing with any investment or business is that, no matter the amount of money you have, it is always good to start small and grow over time (don't test water depth with both feets). Because you are entering a new market and you need time to understand the market. Your job will stand as an insurance for you, in case of any loss. So keep your job, continue investing in crypto and growing your portfolio until the money you make from crypto is more than enough to pay for your lifestyle and also save. Then only can you quit your job.

In many ways, trading in crypto is similar to trading on the stock market. There are very few winners and the few that do have dedicated their life to mastering it. New users to crypto trading can fall prey to many traps, I would say the biggest one is believing they will keep winning when they have always been riding a trend. Take the recent burst of activity with Dogecoin recently, some will have done very well with it, buying and selling throughout. That doesn't make you an expert by any means, because you have joined in a manic market. Once you figure out ways to profit consistently (like when the bubble bursts) and over a period of years, then you might actually be skilled and not gaining by simply being part of the herd. Another trap is not diversifying with your profits - it's great you made money, but you should take some out and keep it in other assets. Even the best experts go through bad times and it can be crushing if all your money gets wiped out due to one or two shocks that were unexpected. If you have money elsewhere you can recover, if you don't, back to the day job.

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Quote from: sheenshane on May 05, 2021, 06:44:32 PM

Is anyone here considering trading and investing crypto as a source of income? IMO, I won't.

It really depends to be honest. Some people do find themselves happy when trading and satisfied everytime they learn anything about it. What matters is that they must not all in their savings and income in trading and investing. If it would be a source of income, it would tell others that it would not be that stable and still remind them that invest and trade only what you can afford to lose. There are tons of people that chose trading and worked out pretty fine, why? Because they love what they do and they know what they can and cannot do.

Isn't this topic too repetitive? I've seen tons of threads like this over the years both in here and in Trading Discussion..

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