Topic: JOB,INCOME of Trader. Some useful experience (Read 133 times)
That is a already an obvious idea that it is gonna be risky if your source of income primarily relies on crypto trading, although people can really get rich in here especially for those who are going in full time in here even though I don't really recommend that unless you have a passive income, just like what you had just said on having a non-market related source of income, on where you can cultivate it at some how using crypto trading.
Even if someone is a professional crypto trader there are a lot of ways he can make some additional money. He can shill his reflinks on twitter or telegram channel, for example.
I think in a volatile market like the crypto market. You trade crypto as a major job, it's really difficult. It is risky to look at it as a major source of income.
Here are some experience to help you make money as trader :
1.Develop your skills. Do this today. Develop the technical and mental skills NOW so you’ll be ready when a big opportunity comes along.
2.Have at least one non-market related steady source of income you can use to pay your bills and stack “risk capital”. If you try to trade with money you need to pay your mortgage or buy food, you’ll make stupid decisions and lose money, period. Having a steady income source will also keep you from feeling like you NEED to make money by a specific date. This is a great way to force bad opportunities.
3.Wait for those high-probability, high reward-to-risk opportunities. They won’t happen on your schedule. Be patient.
4.Strike while there’s low hanging fruit. Be prepared and know when to pull the trigger.
5.When you lose either the favorable market conditions, competitive advantage, or technological playing field, get the hell out of dodge and STOP TRADING when the markets aren’t doing exactly what you want.
Here are some experience to help you make money as trader :
1.Develop your skills. Do this today. Develop the technical and mental skills NOW so you’ll be ready when a big opportunity comes along.
2.Have at least one non-market related steady source of income you can use to pay your bills and stack “risk capital”. If you try to trade with money you need to pay your mortgage or buy food, you’ll make stupid decisions and lose money, period. Having a steady income source will also keep you from feeling like you NEED to make money by a specific date. This is a great way to force bad opportunities.
3.Wait for those high-probability, high reward-to-risk opportunities. They won’t happen on your schedule. Be patient.
4.Strike while there’s low hanging fruit. Be prepared and know when to pull the trigger.
5.When you lose either the favorable market conditions, competitive advantage, or technological playing field, get the hell out of dodge and STOP TRADING when the markets aren’t doing exactly what you want.
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