Topic: Trading is not a lifetime job. - page 4. (Read 2991 times)

The crypto market is very volatile and many traders are making profits and holding regular portfolios in this volatility. Choosing the right crypto for investment is very important as your profit or loss depends on it. I think an investor should keep buying regularly with a long-term plan and wait for bullish periods so that he can reap huge profits. For investment I would prefer Bitcoin as it is comparatively more popular and it can give huge profit in short time span which is not expected in other currencies. If you can accumulate bitcoins with a long-term plan, it can give you multiple profits.

I think it all depends on each person's trust and belief in a coin they see, there are some people who think that small coins can be more profitable, yes maybe that's true because I also have a friend who trades in coins that are not too popular, although yes occasionally the profits are quite large but usually the risk can also be much greater compared to several other assets that have been made as favorite assets for most people such as Bitcoin and ETH, although of course I will also say that Bitcoin and ETH are still risky assets especially when you accumulate in the short term but the risk is usually not too great compared to you trading small coins, the reason is clear which I think most of us already know about how bitcoin's journey since it was first created where every four years it always managed to reach the highest ATH, and that's why most people prefer these assets but with long-term planning so that the risk of the fluctuating nature of the market is not too significant.

Actually it could be a lifetime job as long there's a market then you could do trades.What matter the most on here is on how you would really be that making yourself to sustain on doing trading on which not all would really be that good when it comes to this.There are even those people who quit up their main job just because of doing  full time with trading despite of having no sure about profitability on which this is indeed a risky move to make.
This is why it's really that important that you do have those considerations on taking action on which you do saw yourself being prepared and not really making outright decisions to go full time.

If you don't have that sufficient time then you could also make use of trading bots but of course it will really be still needing up that sufficient knowledge about trading and not really that someone who do lack because you do end up on messing up your trades.Its not necessarily that you should reach out about making it as a main source because if you do try to force things up, then you do really just that make yourself desperate and this should be must be avoided.

I believe that trading is not a lifetime job. Many may consider trading platform as a permanent way of making money but I don't consider trading platform as a permanent way of making money. I strongly believe that most people don't think of trading platforms as a lifetime job. Due to the high volatility of the market and any bad news or good news in the market, many people lose their money on trading platforms.   

If I say from my side I started trading with WIF a long time ago and took good profit trading from here for some time then the market got dumped a lot and till now I have not recovered from that dumping. I was trading at $970 and now I lost $970 to $450. So from here I mean that trading is not a permanent way of making money.

No one go to trade with bad coins, definitely lose can be happen even if you will buy strong coins because cryptocurrency market is high volatile. Nothing is safest coins, but no doubt btc and eth is strong coins and less risky, in short term trading btc and eth also could be lose, so you can not trade only with btc and eth, day traders have to buy other coins. 

Some people think with a little knowledge and there outreach about something, it means they know all but what they don't know is that knowledge from crypto are mostly self thought and using that to make a conclusion about something you weren't successful doesn't mean another person wouldn't make it there. There are people that are making it from trading irrespective of the type of trading or type of pairs they focus their energy into, it doesn't mean they don't make losses but they make profits more.

If trading is not a lifetime job, how come are having billions of trading volume coming from stock market and traditional market? There is money been exchange in trading everyday and people are making profit almost everyday and as long as there is interest in the market, there will be money to be made. The downside of crypto trading where I think there might be some slack and draw back might be when we enter bear market, the interest and taste from people tend to change due to the nature of bear market but trading is a big opportunity where you can earn money for lifetime.

Security first before taking any action, just the same with your shared story about  your friend and his mentor they see the opportunity and they already developed good understanding and skills about trading before they decided to quit their day job, once you see that you can really defend with whatever investment you took, then that's the good timing for you to quit.

Knowing that you can improve more and have a good chance to be more competitive in whatever line of investment you pick and explore.

You are right man. Just recently, I was engaged in a team work and one of the friend I had in that team happens to be a trader, although he is not yet perfect but from his history, he have made a lot of profit and losses. From his story, he is learning from someone who quite his job after developing his skill in trading. This my friend told me that his mentor was was an employee in a company he didn't mention and that his mentor resigned from the job after he made a huge amount of profit from trading.

The reason why am bringing this up is because, some people normally quit their job when they are still on the learning process, while they were supposed to quit after they have realized enough profit and also when they are sure that they can always make profit from trading.

True and it happens when what we buy is not a strong coin, but other bad coins. Maybe not often and Sometimes if we make a wrong move or choose the wrong one, the effect will be very real as you said above, we will feel like we are in hell especially and on the other hand the effect also seeps into the psychological condition of finance. The most real and safest thing now is to just buy BTC or ETH.

Mental health can affect a person's thinking so that when mental health is not good, let alone being involved in trading, even working in the real world will be very problematic. Mental health affects trading as people will face a lot of pressure in it and if the mental health is not healthy then it is certain that there will be many problems that will arise when people are involved in trading.

All humans are looking for money or profit to be better in living their lives and when someone involved in trading cannot make money then it is certain that they will look for other patterns. But what must be understood is that the prospects in trading are quite good in the next few years as long as people understand how.

In this case I am not saying yes or no because the issue of fraud occurred long before trading existed. If someone does not want to get involved in fraud then they should look for a reputable exchange and that is why people need knowledge to recognize it.

Trading is not meant for everyone, some people embarked on trading journey not because they have passion for it, but because they want to become rich overnight and not willing to pay the scarifies that comes with it. People are not really patient with trading, we forgot that people spend 4,5-7 of their l life at the university studying one course but don't want to treat trading the same, follow the process and treat trading like it's a life time skill. Profitability in trading comes accumulative periods of experience over, some profitable we see didn't just make it that day needs years of experiences to become profitable.

Anything that can provide income can indeed be called a job, and for the issue of whether trading is a lifelong job or not I think there are no regulations about it, or what is meant is that everyone is free to choose between wanting to make trading a lifelong profession or determining when to retire or stop trading when they have reached a certain age.

But if I look at some of the difficulties in trading such as mental and psychological pressure that is very likely to be experienced by traders along with other things such as pressure due to losses experienced, then I think someone who has entered the elderly phase should not experience a situation like that, meaning maybe I would say that stopping when you have entered old age is quite good.

There is an opinion, I believe, shared by many in this discussion, that the main daily job is really worth keeping and that we all should stick to it and don't risk losing it, However, hired jobs are often connected with dissatisfaction and feeling of dependancy and unfreedom. I think if you have been a small gap which you could use to break free from these chain and work only for yourself, you should at least try it. Of course, there is an aura above hired job that only this way you would feel stability, but this is made because employers need employees to believe such an illusion. But you will never know for sure if it is so, if you don't try to do something just be yourself.

I go with that opinion, qut your day job only if you are already sure or it's already been test by time that your knowledge and skills will give you decent amount of profits when placing your positions, it's not an easy task as even how good you are there's still possibilities that you may anticipate the market incorrectly, you might suffer from a losing streaks and may empty your wallet.

But then again, it's more on how you uderstand and how good your knowledge regarding to trading before you decide letting go your day job and focus completely with your trading investment.

You will find it into yourself naturally on which you would be able to notice that despite of the loses that you are experiencing, you are still that ending up on becoming profitable and this is something which is really that important because sustainability will really be the main priority that you will be needing on the time that you deal up with trading. Not everyone will really be having that kind of achievement or attainment when it comes to this manner on where there are people or traders who do succeed but there would really be those who do fail up despite of long time dealing with this unpredictable market. Trading could really be indeed a lifetime job.
It will really just that matter on how well you do make yourself survive into this unpredictable market. We do know that when it comes to this aspect it would really be not so simple but its not impossible.

On the moment that you do have plans such as this then it will really be that important that you shouldnt be quitting up or resign with your work yet. Make trading as your side income or investment
while you are having your own day work. On the moment that your profits in trading becomes much more better or higher than with your day job and you have seen yourself that making profits or something
that you could be able to survive then this would really be the considerable time that you would really be resigning into your work. Dont resign to early and believing that you could make constant profits with
trading because this would really be that involving tons of times and effort.

Well that's it, the main point is if you already feel that you are at a fairly competent level in trading such as understanding various things related to trading and also having various methods or strategies that you feel are effective to always be able to generate consistent profits then yes it's okay to take the decision to quit physical work and shift your focus completely to trading.
But if it turns out that you are no more than a beginner or do not have much knowledge and skills then clearly the decision to quit your main job and choose trading is a silly decision, it does not mean that it is impossible to succeed in the world of trading, but when in trading it turns out that you are still in the learning stage and have not been able to reach a situation that generates consistent profits like beginners then it is better to maintain your main job first, because of course you will have difficulty meeting all your living needs when you do not have any job.

That's not what a person with a lot of interest in the industry would think. You and I, who might not have a general interest in trading will surely find it stressful and tiresome, but someone who has always been into financial markets and has always loved buying and selling stuff for profit would pretty much enjoy doing it full-time. Remember, someone's hell might be someone's heaven. My comfort zone doesn't always have to be your comfort zone as well.

Nothing is dangerous for health as long as it is managed in a good way. If you know what you are doing, and have learned the ways to do it efficiently so that it doesn't harm you in any way, you won't find any difficulties in doing that. Of course, if you get into something without knowing anything about it, you will have a hard time getting a hang of it.

Indeed, if you find yourself in a situation where you need to pick between your day job and your trading you just need to balance things out and in from the point of situation the post above you will surely pick trading as he lessen the hassle working on his regular job and earning lesser than what he can earn from his trading, if your skillset is already on that level where you already got a good grasp of anticipating where the market may go, then choosing trading might be the best option for you, though not all have that same level of understanding and same level of potential when dealing to this venue of investment.

it's adrenaline inducing but I think the main purpose people trading in the first place is because they want to grow their capital enough to become a big investor.
since trading is basically growing the money as fast as you can it can work for people with smaller capital to play it on the aggressive side and grow their capital, if they just stick with investing their yield will be so small.

nobody, want trading as a lifetime job, maybe as a side hustle but I know majority of people knew that they eventually can't keep up with the mental strain they got from the market swing.
but there's only very few ways for us the shrimp to make it big.

I think this is a matter of choice, or I mean anyone is free to get involved in the world of trading at any time as long as they are able to balance and manage everything well, and what you said is true that trading can be very stressful and full of pressure which indirectly can affect a person's mental and psychological health.
But I think for mental and psychological problems over time a trader will definitely have a stronger mentality when they are able to adapt to the market and this is why there are still those who survive.

Regarding the second number you said I think it is another thing, because after all trading is not an activity for fun, this is a skilled profession that aims to seek profit, not everything that someone does will always be comfortable, remember that you work not because it is comfortable or not but because you need money, meaning comfortable or not is part of the risk.