Don't ever quit your job to trade crypto. - page 2.

Eridan_world

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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.

I totally agree. You should not put all your eggs in one basket, you need to diversify the risks. It's better to start small, and later, if things go well, then dive deeper into the business.

Mpamaegbu

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Quote from: BD Crypto on May 04, 2022, 09:17:26 AM

You said newbies should not quite their jobs because of crypto trading but I say they should not start trading until they have much knowledge about trading. Newbies should try crypto trading with demo funds that will make him experienced.

That advice shouldn't be for newbies alone. It includes all those traders who haven't become profitable too no matter how long they've been trading. Trading is an easy way of expanding one's wealth once one has a grip on the set skills. It becomes enjoyable and an easy ride for those who are profitable but herculean to those who aren't profitable yet. Trading should be treated as a serious career like medicine, lawyer and others. It deserves time to learn on it. Until one becomes a guru and profitable, no one should quit their job for trading, no matter how enticing it looks.

GeorgeJohn

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Quote from: alik111 on August 16, 2022, 09:21:35 AM

Its a great advice from OP. Many new traders come in the market and think that they should invest his full time in crypto trading. But the truth is if you are a good technical analyst you don't need to quit job. So never take risk in this volatile market by quiting your permanent job.

To be sincere Bitcoin or trading is a side personal business and interest, what i want you to understand is that bitcoin have its ways of doing things, because the way am seeing Bitcoin trading it involves risk and something that involve high risk doesn't deserve to quit job for. From my perspective standing job should be your backbone with your trading.

Stable090

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If you are good in trading and you know you can be trading and making profit then why do you have to stress yourself and be workings, most companies are just using their staffs and at the end they will just pay small money, but as a trader you can be making your cool money from the comfort of your house, but before you can rely on trading for survival you halve to be a professional first.

Laurendaldin

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I think many people are afraid that they'll must to work more, study more, spend more time on active actions. So the first thing that a newbie starts to do is to look for an easy way. Most of them will realize at the end that quit their job is not the most reasonable idea and will forget about it, I think.

Stalker22

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Quote from: |MINER| on August 16, 2022, 03:01:42 PM

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If you can afford to leave your job to trade then do trading, on the other hand avoid trading by giving up your only source of income which you cannot afford.

In a nutshell, if you have no backup on your present income and salary, it is highly risky to take trading as your profession. There are lots of competition in the market, who are having only one thing in their mind - that is to make money. If you are not a trader by profession, then it is highly likely that you will lose money. But if you choose this path, then you have to work hard and smartly in order to succeed. An investment of time and money will be required but if you are committed to it, there are many opportunities out there for you. You will have to study the market, learn how it works and what are its patterns. If you are not ready to spend hours reading books on trading, then do not even think of becoming a trader.

|MINER|

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

~snip~

In this case I agree with you. One side of view Trading makes profitable business, and on the others hand it make beggar. But recently many people are entering this profession through various trading courses. But I will say here that if you don't have any profession at present but understand good analysis then you can take trading as profession. On the other hand I would also request you not to leave your present profession for trading. Trading is risky. There is a word here no risk no gain. But here I will say about quitting job for trading, invest as much as you can afford to lose. If you can afford to leave your job to trade then do trading, on the other hand avoid trading by giving up your only source of income which you cannot afford.

Victorik

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Trading cryptocurrency can be done as a side gig. Also it depends on the type of trader you wanna be. For me I do position trading, so o don't have to seat in from a computer or my phone all day reading charts.
So, it doesn't affect my job.

VRExpress

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I noticed this after spending so many time trying to figure out how trading works but I always end up losing money, it's like a bog no for me, to say the truth trading is more like a pure gambling so the safest option is spot trading, it's not worth quitting a job for.

Mkelgodson

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This post, and advice per se is very timely. I contemplated quitting my employment some months back to delve into crypto and Forex generally, but no enough capital. So I decided to keep the employment untill I generated enough needed capital.

However, it's not a very good idea to quit work because of crypto trading. Having more than one source of income should be the goal.

alik111

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Its a great advice from OP. Many new traders come in the market and think that they should invest his full time in crypto trading. But the truth is if you are a good technical analyst you don't need to quit job. So never take risk in this volatile market by quiting your permanent job.

firmino10

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elysian.finance

its just like saying that because one make some investment, they cant go after what they love doing. if one wants to quit his/her job on the bases of not getting satisfaction, stress, poor working environment, low income and not meeting ones emotional, financial and mental needs that's a different thing entirely. or one wants to focus of cryptocurrency alone, which is risky but is ok if the person can handle it. cryptocurrency is an investment that can go along with other investment. so one don't have to quit the job they loving doing because of cryptocurrency. its all about time management. sighting an example of musk, Akon and others. they keep investing in other things and doing that which give them fulfilment.

Munir575

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When you already have a good paying job its not advisable to quit your job and go into crypto trading because a fish at hand they say is better than a thousand in the river. If you've always dream to be a trader its not bad chasing your dream you can always combine both jobs and gradually when you are stable enough you can now decide on which one to quit.

taufik123

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Quote from: Finestream on May 11, 2022, 12:59:31 PM

Trading is hard, and it will be a lot harder if you are still new to it. But even so, whether you're a legend or a newbie in trading, quitting your job to focus on trading is a very risky decision, so i won't suggest doing it. Instead, make trading as your side job, that way you will never put your life into future troubles. Its good to have a stable job that gives a fixed income and at the same time a side job that generates additional income. If you can do it, that will grow your finances in time.

At first I did what you described. Cryptocurrency work became a side job and a main job in the real world became my main source of income. But over time, I was laid off from my real job because the company went bankrupt. and currently only working in cryptocurrency as a trader and working on the bounty signature that I am currently following.
Crypto jobs are indeed very risky, but if we know what to do and how to earn money from crypto, it can be a source of income that exceeds real work. It depends on how we want to try or not.
If it's still possible to have both jobs that's even better.

dataispower

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Quote from: BD Crypto on May 04, 2022, 09:17:26 AM

You said newbies should not quite their jobs because of crypto trading but I say they should not start trading until they have much knowledge about trading. Newbies should try crypto trading with demo funds that will make him experienced.

Try to understand what it meant not to lose your job because of trading cryptocurrency. Even though you have experience. Op tried let us understand that trading for cryptocurrency should be use as side hustle. Not life hustle, because no body know what trading can result today and tomorrow if you lose or you make profit. And is not good lose sur bird for hand and start chasing the one you don't know the way about

isaac_clarke22

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Quote from: YinShuiSiYuan on May 09, 2022, 05:33:47 AM

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It's not the worst mistake depending on the case. If you're being mentally abused already in workplace, I am not sure why you would stay longer in your full-time job. Depending on the reasoning, it could be a really bad mistake or the best one you could ever do. Job hopping is not that bad if you already have a good amount of experience. Making a gap might be a questionable though.

Finestream

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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.

Trading is hard, and it will be a lot harder if you are still new to it. But even so, whether you're a legend or a newbie in trading, quitting your job to focus on trading is a very risky decision, so i won't suggest doing it. Instead, make trading as your side job, that way you will never put your life into future troubles. Its good to have a stable job that gives a fixed income and at the same time a side job that generates additional income. If you can do it, that will grow your finances in time.

Rockstarguy

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It is very abnormal to quit job for trading, people may choose to take such decision but it is a wrong decision that will affect such person financially. It is possible for one to get reasonable amount of profit from cryptocurrency trading that should not give anyone the mindset that profit can come any day or anytime he/she wants it. Getting profit from trading is unpredictable, when one depends only trading such person will be so desperate for profit because that is the only source of income to survive.

Shamm

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Quote from: Lida93 on May 09, 2022, 10:28:24 AM

Quiting ones job or source of income because of another source that rises is like cutting down away orange tree because you have juice.

Why not keep the tree while you enjoy the juice together. Cause definitely the juice will finish but the orange tree will always replenish.

At the end many streams of income is all that matters together.

In short, crypto must be your sideline not a main source of income but some people leave their steady/ regular job to focus on crypto trading they don't care about regular jobs offer from their respective countries all they mind is that they can earn a lot because of trading without knowing that trading is unpredictable not every day you will and gain profit. But all of these are base on decision of every single person cause when he/ she will leave or stay on his/her regular jobs.

Gosgosking

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Quote from: Davidvictorson on May 06, 2022, 04:16:37 PM

There was a point in my life when I seriously thought of quitting my job to go into crypto full time. There was also a time when I lost my job and crypto was all I did full time. Funny isn't it. The thing is, I think it all comes down to the individual, his or her level of experience in trading crypto, personal savings etc. I know some folks who have risked it all and gone into trading crypto full time after they quit their job and luckily enough they made it. In summary just count the cost before making any move.

What matters is experience and how the person is that will make one of thinking to quit job. People differs and not everyone are the same , quiting the job for trading may not work for everybody but can also work for few persons who are expert in trading. It is possible for someone to get good profit from trading as allowance.

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