Topic: Quit My Full Time Job to Trade Cryptos Full Time - page 8. (Read 1889 times)

Agree, the crypto market will have a lot of volatility at some point, generating a lot of profit for the participants but besides that, it also has very quiet periods, and in the quiet phase, the risk is higher than ever even if we have become an expert and experienced with the market, the situation at this stage always forces us to make risky decisions in search of profits. If we have a steady job at that stage, we won't have money pressure, stable income allows us to comfortably, full-time brings huge pressure and is easy to make mistakes

The reality is that we are in a situation where we could barely make this work even if we want to because crypto is volatile, I am not saying he will fail but the reality is that even if he succeeds over long period of time, there will be moments he can't and that is going to be though. Why?

Because he will need that money eventually, how are you going to pay bills if you do not spend any money, between food and grocery and bills and other life things people spend money on things and when you spend that much on things and also have a capital to protect, when you are earning that is fine but when you are losing you are going to spend the money on top of getting smaller which would be horrible. That is why I believe we are going to end up with something not so fun and I would rather not risk it, have a small part time fun job that you do not care about much and pay small time stuff like bills and so forth with that and trade with rest of your time so you can pay regular stuff with your work.

your working and your trading but you already earned a hundred k but if you quit your job and trade all day you can earn more than a hundred k .
you are on the right path and it does not make sense to work hard on a day job and earn not a 1/2 of what you are earning in trading .
goodluck for more bro and if you are done forumulating that unbeatable strat you can make extra money by that by selling or by coaching aspiring newbies in the trading ground .

I really hope you are trading for more then a month. If this should be your first month of trading, there is no worse move than to quit your job and go fulltime trading. it also depends on your whole situation in life, though. Make sure all your needs are covered and you can bank something every month. Most important, if you are not consistantly profitable with that strategy for more than 5-6 months, you should not quit your job. Make sure rent is paid and food is on the table. Make sure all your bills for the next 8 months are covered. If you can answer all of the above with yes, then I wish you all the best in the world for your BTCUSD trading. If not, take a step back and give yourself more time.

That is good decision only if you have proper savings plan, health budget in case of emergency and extra money to keep you alive in the doomsday! See, money is very bad thing and I have learnt this the most hardest way ever! Your life can come to a point where things could go wrong financially if you dont manage it systematically.

Remember that, trading is risky bet but with a risk comes huge profitability. So if you are staking your money in the Trading then make sure to take out the money for above mentioned things. GL to your future.

100K from arbit is a big number, I am sure that you have been in trading for a long time, especially in crypto.
Quitting your main job to become a full-time trader is a pretty brave decision and you have to really be able to manage your trading capital, good luck with your new job as a crypto trader.

Risky move, even though it is high return still it is not going to last long forever so you avoided a permanent source of income just for short term gains?

You can do arbitrage while you are working itself or better have other oassive income which can give you income when crypto trading is at bad condition.

Well, we have different choices in life so there's nothing wrong with it also I think you already handle the market trading so good income for you at the same time you don't need to worry about your time because you can make trade whenever you want again this is a risky thing this requires a lot of skills and knowledge with a continuously learning too. Good luck with your path we are hoping that the knowledge you have can be share here to our forum so most of us will benefit too and try to make trading as a part-time or full-time trader.

I don't really believe this is the best decision you are making I believe cryptocurrency trading should just be a source of extral income which you can be making additional money which you can be using to pay your bills or other things, I don't believe cryptocurrency should be the main source of income because your income is not stable and if you are not careful you can lose all your funds you don't have to leave all your eggs in one basket. So I will definitely advise you not to leave you just and only depend on cryptocurrency for your source of income trading should just be a alternative source of income and not the main source of income.

Well, it is good that you have made up your decision on taking full time to be a trader since it seems that you are seeing your interest into it and find it more profitable compared to working on a full time office job. But being a full time trader is not always into profit so you still better have another source of income or business if you don't want to take part of working full time into under other people's advice. Better keep going and good luck to your trading journey.

Congratulations, boy.  When successful, please share your ideas, methods, unbeaten strategy diagrams with us.  I greatly admire your assertiveness, but my condition does not allow to be like you.  )
I need work to pay off my debt. Lol

Even though your account is a newbie, it looks like your crypto trading skills are very good. And what makes me even more amazed by you is that
your self-confidence is very high. Moreover, deciding to leave a full-time job to focus on crypto trading is a very big decision. I, who have been
trading crypto for more than 3 years, and made quite a lot of profit, don't dare to leave my full-time job in the real world. I wish you success,
and can generate the profit you want.

A few answers to the questions above.

I started with about 14k -> turned that in to 30k by holding some good tokens. From 30k onwards 90% of my gains have been from arbing, i always arb back in to stable coin and my primary portfolio is in stable coins.

I wont give any details about the pairs, exchanges , etc that i trade, you need to figure that out for yourself

At this point i've gone through about 8 different strats , arbing between different defi exchanges, arbing between centralized and decentralized exchanges, arbing using margin, occasionally buying dips on coins that i know are gonna go back up (monitoring twitter to stay on top of things)  

One key tip i can give you to trading on centralized exchanges is you need to understand exchange patterns  , whenever trading on centralized exchanges i will always monitor the hotwallets and sometimes the deposit wallets to understand inflow/outflow and if an exchange has paused withdrawals.

I've spent the better part of the past year researching defi , various projects looking for these types of opportunities , most of them become saturated quickly , some of them are natural inneffencies in the market where your biggest competitor is other traders .

The goal of quitting my job is to treat this as a full time gig, i need to build up my skillset so that i can better automate my strats, and at the same time i'm also going to work on building skillsets that are in demand by blockchain development companies, ie solidity, rust, python, nodejs . My day job was burning me out and crypto is something i am extremely passionate about, this is where i want to build my skillsets and take my career.

Maybe i'll make some millions on my strats , and the worst case i build a skillset that is in demand by blockchain development companies/teams and get a job in an industry i am extremely passionate about.

Having 100k in the bank from trading is huge motivator, but i very much see this as an opportunity to save myself from burnout and to do something i am passionate about. Long term the worst case is i go back to work in a year, best case i become a crypto billionaire.

Only a few could able to do that so you should cherish on what you had worked so hard because becoming a full time trader isnt for everybody and only a few could able to do that even myself do still cling up to become one
in spite of the years ive been trading but i cant still find myself to be in the profit state.This isnt something that can be achieved with those who do lack knowledge and skills.
Trading full time is stressful even i did experience on doing it on a weeks time when i dont have a job but i cant able to grasp on and making constant or ending up on profits this is why i cant still afford to quit my job
at the moment because im aint sure if i can handle it out in case i do quit. Good job and Good luck into the path you have chosen.

Good luck and I hope that's not a coincidence because, for me, I prefer to have a job while doing trading as my source of extra income but of course, I can't do full-time trader but I can still do trading like long term treading.  That's really impressive that you've earned that big amount in just a month and in half, a good thing if you can maintain this and consistently making a profit every month if not, it's just luck that sometimes we may experience at the first time in our trading activity.

However, there are few traders I heard that the arbitrage is really working for them, but this doesn't mean a guarantee that you have to earn always and always have profit.  Sometimes we need to face those worst consequences that commonly happen on trading activity and I hope you're ready for that.

Make sure that you have withdrawn the initial amount of capital to your 100k profit and save this at least for whatever happens.

I don't want to cut the enjoyment and decision that you've made and that's good if you've made a lot from trading. And if that's your decision and you're very firm doing that, just keep rocking man!
It's hard to become a full time trader but if you've done that with ease and strategy, you're going to earn more from that. Just as you've said, I'm wishing you the best of luck and all the best for your newly found career.

Exchanging your stable job just because you've decided to go full time with trading is indeed risky because we know that trading profits isnt really consistent or shall we say its unstable which means there are days turns out to be profitable and there are days which would be a lost.So thats really a tough decision to be made in the first place.

If he can manage to make $100k then that signifies that he's really earning more than he can earn on having a day job.It just right for him to make out decisions if he would decide to go full time or having both at the same time but we know that engaging on two things wont be simple because this would talk proper time management.

If he do sees that it is much worth to trade than to have a day job then its his decision and he's definitely aware of the risk that he had taken.

While that is great make sure that you do not use all of that money to trade the markets and instead diversify yourself and maybe even establish a small business, I say this because while your profits are impressive and you may seem to have a great system cases like yours are not rare, there are many winners in this market but then they make a mistake or they find out their strategy was not as infallible as they thought and then they suddenly find themselves without money and without a job.

This way by creating your own business you have something to rely on in the case things do not work in your full time career as a trader and you can protect yourself and your family from suffering unnecessarily by it.

You're the lucky guy who makes $100k from your trades on crypto. Of course when the market is bullish it is now it is very profitable for trading and investing.
And your decision to quit the primary job was a very brave decision. Most people can't do as you do, quitting the job because you just want to focus on crypto,
is amazing!

That's great, but you sure you did the right thing resigning from your job? You know that trading is very risky. Just because you managed to make 100k now, doesn't mean you will be able to do that every day. You should even know that your "hard-to-beat" start might fail anytime because the market isn't always the same. Having a job gives you a "risk" free source of money. So think again. But in the end, its your choice. You know what's best for you. So good luck with your trading.