Topic: Is it okay to trade without a source of income? (Read 22 times)

When you say that you have learned to trade for more than 1 year, i think you are experienced enough, feel the bitter sweetness of the market to survive until now, even if in the end you still experience losses, it's okay, it doesn't matter because it will shape you. Find the cause of your defeat, if you have found it immediately correct it, so that you do not repeat that mistake again in the future.


I do not advise you to trade with borrowed money, whether friends, family or anyone else, because there is no guarantee that you will be able to return it plus you do not have a steady income in the real world, this adds to the burden and risk, making you think you must immediately get profit from trading to return the loan. Agree with your friend, find your income first to use as trading capital, using cold money will make your trading psychology better.

If you've been doing trading for 13 to 15 months and seems out that you arent having such progress then its just that sensible that you should be testing out other ventures but if you are really that eager on learning trading then continue on what you do. Take that advise from your friend on which this is indeed valid. You should have that source of income at least so that you could be having that trading capital at the time that you do make trades. Speaking about emotional aspect on why you do make out some shit trades then its normal but at the moment that you do become that being like a gambler trader then thats a huge mistake to be done. Its also good that aside on making up some trading then you could also decide to make out some Bitcoin investment as well, but just like on what been said that you cant do anything if you dont have any money for you to move like investing or doing trading. Taking up some loans for you continue trading is never been ideal specially if you dont have the capability on repaying it back on the right or due time. Once again, welcome into this forum and just read up everything on here on which you will be able to broaden up your mind about Bitcoin or crypto on which its not just that limited to trading but also on crypto investment. The most important thing on here is about on that risks management because this will be the most important thing once you do hover yourself towards this market specially of its total randomness and being that speculative.

If you continue to lose, continue to trade with the amount of money that you can afford to lose. It can be $10 or $20. Trade like you are expecting the least but with little amount of money from the total trading capital. If you have $20, trade with just $2 and continue to look for a better strategy that will help you.

It can take 2 or 3 years. You need to be patient. If you are not patient, it can result to losses of money. Do not think trading can be a source of income. It will only be a source of losses for such a person.

Do not borrow money from your friend because of trading. Use low amount of money to continue to continue to trade until you see something positive about it.

At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.

Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.