TRADERS are not UNEMPLOYED - page 5.

radjie

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Quote from: shinratensei_ on April 29, 2024, 01:20:27 AM

The prejudice is there though, undeniable even though trading does generate income some people out there with a lot of prejudice consider day trading isn't a real job heck even getting approval of lease are hard when you stated that you do day trading, if you are a trader and you working on it full time be prepared to not be able to have loan from banks that easily unless you can build your reputation and your credit score.

undeniably it happens across the world, some people just can't grasp what trading actually is and due to that they just said that its not a real job.
speaking of stability, yes trading as a job is unstable, but so does other jobs as well I think its still inline with the potential of profit that you could gain so the unstability of the job is worth it.
even in the other job being an employee building a career from below all the way to the top you can always lost your job due to lay offs.

Indeed, many people think that trading is not a real job, even though you can get profits or income that can be targeted every day, but it is not easy to earn income from trading. Therefore, there are some people who apply trading as a side activity and prioritize real work that can clearly earn income every month

Ordinary people around you will definitely think that if you don't have a real job, they will think that person is unemployed, but as long as you can consistently make a profit from trading, don't care too much about what other people say. The important thing is that your daily needs can be met without having to bother other people. But it would be better if trading was used as a side job

Kelward

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Crypto trading is a job, just like any other jobs that a person does that they make profit or earn salaries from, these includes whether you're self employed or an employee. The only difference is if the money that comes in from the job is able to take care of the person's responsibilities, if not then the person might be compelled to quit, then get a better one or get a side job to earn more money.

Why I don't consider crypto trading as a full time job is because of the risks involved, it has some attributes of gambling, where you don't know how the market will swing anyday you enter trading, infact you're not in control of the market. What happens when you consistently encounter loses over a period of time, who'll take care of your responsibilities? I think that every responsible trader should have another source of steady income, so when they make profit in trading, it becomes a plus to their total income.

joeperry

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I consider it like a freelancing, more like whenever you just want to trade. I know a lot of traders and they only spend less than an hour or two and earning good profit which is way more higher than a hourly jobs, so they choose to be trader than working as they are earning more money and less work, which is pretty amazing because no matter what the market status are (bullish or bearish), they can still managed to earn from that market.

But for me, it depends on the person itself, some trade for fun and some trade for living.

TheUltraElite

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Some people take trading as a full time job. But the number is few and most don't even come to the public or reveal this aspect of their life, they might be your random garden man or the regular chap on the bus to work, in other words they remain invisible to public eye.

The main point is still whether the trader is using their trades funds as major source of income or other hustles to fund their trading. Being employed is not the term I would apply here, though. There is no legal binding in trading unless you are doing it on behalf of a company.

That said there are traders who have other employments too so they are not unemployed.

jrrsparkles

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Post covid. people started to work from home more than ever and even companies want their employees to work from home cause it reduces the company's expenses a lot. Anyway, let's come to the topic, what others think about you doesn't matter as long as you are being successful at it. Trading as your primary job is highly risky which also should be pointed out here.

Apocollapse

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Quote from: GreatArkansas on April 28, 2024, 08:15:26 PM

Quote from: mk4 on April 28, 2024, 07:51:30 PM

Hence, solo/at-home traders are unemployed.

Some also tell fulltime traders, but we can't say they are employed especially if they are trading alone using their own money and can trade anytime they want and not relying to other people or company.

Take a look with Cambridge dictionary.

Quote from: https://dictionary.cambridge.org/dictionary/english/unemployed

not having a job that provides money:

It means if the traders make money from trading, it's considered as self employed. But if they didn't earn from trading, they're unemployed. Unemployed is when you didn't provides money, it's why traders get taxed because they're making money.

"Job" isn't necessary need to rely on other people money or under someone company.

Oshosondy

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Quote from: LogitechMouse on April 28, 2024, 10:12:56 PM

I guess it depends on the situation.
I would agree with what you said that trading can't be a reliable job since the income isn't stable, but there are some factors that might affect that one.

Let's say for example, a trader is making 5 digits on a monthly basis just by doing trading. Yes, there are times where he lost money in trading since no one can predict the market with 100% accuracy, but at the end of the month, he's making money like other employees. Do you still need to have a "RELIABLE" job if you know yourself that you are making money in trading "CONSISTENTLY"?

You are correct, but we traders do advice people that trading is not a reliable means of making money because we know how risky it is, especially for newbie traders. If we tell them that it is a way to make money, they will later most likely tell us that we are lying but setting a pit for them to fall into. I just do not know how I can excellently explain how trading should not be taken as a job except you are a good trader already and making money from it. Most people will realize it when they solely rely on trading that it is very risky. Some success traders that I have met do other things that are reliable than to just be trading only and they make money from trading, they invest more in reliable business in case of bad trading days.

Quote from: OrangeII on April 29, 2024, 03:58:44 AM

Well, if unemployment is defined as not having a job, then traders are not unemployed. Because many people feel that they work by trading. However, it all depends on our respective perceptions and views. If work is defined as us being paid by the company and we have a contract with the company, then traders can be said to be unemployed. However, if people look at unemployment this way, then people who start businesses by selling something, and trying to generate their own income are unemployed. yeah, I think that's not quite right.
However, I think this has a very broad meaning. People will look differently at traders who are successful and have a lot of assets, from traders who work at home, but make very little money. The first trader might be said to be a successful businessman by ordinary people, and the second trader would be said to be an unemployed person looking for money on the internet. IMO, Traders are a job, but with high risks.

Are you really a trader? This should not be about what you read or what you think of but about what you know and have experience about.

Yamifoud

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Anything you do in exchange for money is a job. Trading is considered to be but can't just rely on this to become a good source of income unless you are really good at this.

Trading is profitable but has quite high risks which is why this is not just a simple job but a difficult one. Indeed, traders are traders, they are working hard to make their trades ever profitable. Many people earn more from trading which gives interest to others but do not know that the majority are losing than those who earn satisfying amounts. It is your call if you consider this but for me, trading couldn't be our main source of income due to its nature.

OrangeII

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Well, if unemployment is defined as not having a job, then traders are not unemployed. Because many people feel that they work by trading. However, it all depends on our respective perceptions and views. If work is defined as us being paid by the company and we have a contract with the company, then traders can be said to be unemployed. However, if people look at unemployment this way, then people who start businesses by selling something, and trying to generate their own income are unemployed. yeah, I think that's not quite right.
However, I think this has a very broad meaning. People will look differently at traders who are successful and have a lot of assets, from traders who work at home, but make very little money. The first trader might be said to be a successful businessman by ordinary people, and the second trader would be said to be an unemployed person looking for money on the internet. IMO, Traders are a job, but with high risks.

Z_MBFM

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Quote from: Oshosondy on April 28, 2024, 07:31:18 PM

Not all traders can use trading to make money. According to some reports that I have read before, most traders are losing. Those with small amount of money will lose because they risk more and not patient. When someone will think of trading to make himself money, he may lose. If you are trading, you should not consider it as a job. You need a reliable job. Trading is risky like gambling and it should not be seen as a job.

Traders trade with the intention of making an income so they are in a job. So they cannot be called unemployed but trading is not like other things like job, business. no one can always make a profit in trading. There is a lot of loss in trading so it is not a source of steady income for anyone. For this reason someone wants to lead his life only in trading and has no other source of income then he will not be able to lead his life normally for long. He may be financially strong for a few days to make a profit in trading, but when he loses, he will experience a period of scarcity.

shinratensei_

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The prejudice is there though, undeniable even though trading does generate income some people out there with a lot of prejudice consider day trading isn't a real job heck even getting approval of lease are hard when you stated that you do day trading, if you are a trader and you working on it full time be prepared to not be able to have loan from banks that easily unless you can build your reputation and your credit score.

undeniably it happens across the world, some people just can't grasp what trading actually is and due to that they just said that its not a real job.
speaking of stability, yes trading as a job is unstable, but so does other jobs as well I think its still inline with the potential of profit that you could gain so the unstability of the job is worth it.
even in the other job being an employee building a career from below all the way to the top you can always lost your job due to lay offs.

Sebas.tian

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I think, trading is a self-employed because you invested your capital to ensure you achieve income from the trading in the due time, and you start monitoring your trading every night and day to ensure your trading are safe and secure. I know some people will not believe that crypto trading is a self-employed, because is different from the physical trading they are use to in their various environment and they know it as self-employed, because they are making income to use it to feed their family and to improve their wealth. Likewise in crypto trading, I have seen many traders who turned to millionaires through the help of crypto trading, because they took it as trading that can offer more than what other centralized traders are achieving from their trading, because the crypto trading is a pure self-employed to them.

poodle63

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I always consider trader to be like entrepreneur they just don't have fixed line of work as well as fixed schedule they have a purpose that is to make a money then they doing it regardless of the time constraint since they have none also the risk is also there with entrepreneurship you risk losing your capital when starting a business same thing with trading, i mean to be honest people that don't consider trading as a job is kinda ignorant since there are literally people making ton of money by just trading alone that even a salary of $100k a year seems like so small for them.
though there are indeed some people that trade just for side hustle and they don't earn that much since they are not focused on their trading but an income is still an income and their side hustle is pretty much a side job too just like how people are doing two jobs these days its pretty common.
though some people would rather consider whatever job that don't give stable income as not a real job whereas thats pretty biased and I strongly disagree.

mindrust

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Unless you withdraw your profits and use them to buy something else, all of your profits are on paper. That’s the problem with trading. Traders usually don’t know when to take profits and in the end they usually quit it at a loss. People can make money from trading indeed but they need to follow a few hard rules which they can’t ignore. Profit taking is one of them. Not being too greedy is another. As you go deeper into trading, you will make more mistakes that will make you lose money and by doing so you’ll notice the other rules as well.

Trading needs you to be alert all the time because the markets can go wild randomly.

OcTradism

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Quote from: hugeblack on April 28, 2024, 11:00:25 PM

It is a mistake to consider trading as a job in the sense that you depend on it to buy essentials and pay bills, because trading brings profits over a long period of time and patience, and the bills may not bear patience for more than a month.
Therefore, even describing trading as free work comes from the fact that it is something you do without restrictions on its timing and lifestyle, but as soon as trading is restricted or governed by a specific price or need, it will be unprofitable and may lead to losses.

Trading or investment can be considered as a source of income but a trader or an investor actually needs to have reserved money for paying bills. Because the market can move opposite to what the trader or the investor thinks. So if all money already spent for trading or investment, there will be calls to pay bills and that trader or investor will be forced to sell their bitcoins or altcoins, to get some money for paying bills.

Being forcefully sold an asset like this, will not lead to good exit price and a trader or investor will have higher risk to lose money than get profit.

hugeblack

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It is a mistake to consider trading as a job in the sense that you depend on it to buy essentials and pay bills, because trading brings profits over a long period of time and patience, and the bills may not bear patience for more than a month.
Therefore, even describing trading as free work comes from the fact that it is something you do without restrictions on its timing and lifestyle, but as soon as trading is restricted or governed by a specific price or need, it will be unprofitable and may lead to losses.

Awaklara

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I just want to say that trading requires capital. Indeed, even if you don't have a job, if you have capital you can do the job. As many people suggest, if you want to invest in crypto or trade, you have to use money that you are prepared to lose. This means that using savings to trade is very risky.
If you are unemployed and can still keep your trading going, then you can trade. although it is not recommended to make day trading your job. that's because not every time you can make money from trading. if you have bad luck, it will only waste your capital.

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Quote from: danherbias07 on April 28, 2024, 06:48:36 PM

As long as you make money then I guess no one should care if you are unemployed or not. But literally, you are unemployed because you are not in a contract with someone else but in the era that we live in today a lot of jobs are created thanks to the power of the internet. There are streamers who make consistent money, but they are also unemployed because there's no assurance that they will have incoming money the next day or not. They have to be active on social media so that they can make more content for their streams.

I have the same idea in my mind too. Who cares of what area of employment you belong to if you are making X amount of money to cover your expenses and live the life that you want for yourself. The main goal is to provide for your love ones, have generational wealth, and be done with the rat race. And if you do well enough in trading, you can put all those pieces together as your success. As long as there's a market, trading will always be a relevant job and you can trade for a living if you have the right skill and the right perspective.

LogitechMouse

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Quote from: Oshosondy on April 28, 2024, 07:31:18 PM

If you are trading, you should not consider it as a job. You need a reliable job. Trading is risky like gambling and it should not be seen as a job.

I guess it depends on the situation.
I would agree with what you said that trading can't be a reliable job since the income isn't stable, but there are some factors that might affect that one.

Let's say for example, a trader is making 5 digits on a monthly basis just by doing trading. Yes, there are times where he lost money in trading since no one can predict the market with 100% accuracy, but at the end of the month, he's making money like other employees. Do you still need to have a "RELIABLE" job if you know yourself that you are making money in trading "CONSISTENTLY"?

As much as I don't want to consider trading as a job, there are some traders especially those expert ones that took trading as their full-time job already just because they're earning in it. Some might even earn more than most of the employees who are working 8 hours per day. At the end of the day, it all depends on the situation.

mk4

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Quote from: Oshosondy on April 28, 2024, 08:04:02 PM

Gambling is not trading but the risk is much as it is in gambling. Theoretically you can see a lot of differences in gambling and trading, but in real life you will noticed that they are both risky.

If you have other sources of income and you are trading, you will not rely on trading. You will be able to make the right analysis and not panic. But if someone is thinking of earning from only trading, the person is knocking the door to his own failure.

Trading should not be seen as a job. It will let you want to set target. Poor think can come from there. Trading should only see trading as alternative and enter the market when necessary.

I know that trading is heavily frowned upon here (for the right reasons, and I absolutely won't recommend trading to anyone), but it's not THAT one-sided and binary. Trading — depending on strategy, can actually work, it's just that a huge majority of people won't be able to successfully pull it off. With that logic you're pretty much also clumping up starting a business with gambling just because it's also very risky.

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