Topic: Which do you prefer - page 7. (Read 1368 times)

believe that working for yourself is better than working for the government because, unlike trading or other self-employment, working for yourself gives you the opportunity to earn more money than you could ever think while still taking care of your financial status. However, in some nations, many government employees still rely on their daily wages and still start up their own businesses because their pay is insufficient to cover their expenses.
Although I am aware that a civil servant's salary is based on the type of work they perform, I would advise all other civil servants to not place too much reliance on their monetary pay because working for the government is not a job that you can do until the end of your life, whereas being self-employed never ends or you get to retired.

It all depends on what stage of your life you are....

If you have been a civil servant for many years and you have built up a good pension, then I will keep that job and trade Crypto currencies in my spare time.

If you are a younger person, with a long future ahead of him or her.... then I will take the chance and start Crypto currencies on a full-time basis. If it turns out to be a mistake, you still have a lot of time to start a new career and to build a pension for the future.

People with fixed expenses, like car or bond payments should also never rely on commission based income or profit based income on trading.  

Job will play an important role in conducting your life. You will get a certain amount of money every month with which you can manage your family expenses. But if you want to earn extra money and live a better life, trading offers you an alternative income. A person can manage trading while keeping a job so I never imagine trading as opposed to a job. I think people who want to trading get an opportunity to earn more money besides job.

I don't think there will be anyone in the world who doesn't like self-employment and prefers a day job instead of being their own boss where they are literally free to do whatever they want to without anyone having the right to say anything to them for not working the same hours or going anywhere or taking leave, you talk about any aspect, self-employment is a thousand folds better than working for a company or even the government.

The only thing that one should be concerned about is whether they can earn enough by themselves and whether the earning is consistent or not. Not being able to earn one day and earning more the other day is okay, but having breaks of weeks or months can become an issue later on.

On the contrary, I think he is making quite a lot of money from trading, and he thinks that if he puts all his time into it, he can make more money. It's not really because he's too pressured or can't arrange for both of them.

We don't know how long he's been in trading, but honestly, I haven't seen anyone who has been able to succeed and feed a family from trading. I mean professional traders besides trading, they also do outside business, or another job. They also have multiple sources of income as trading is not always profitable.

In OP's case, if he wants to quit his job as a civil servant, he needs at least a side business or another job that takes up less time. Don't just rely on trading and think he can have a better life thanks to it.

Both are good when it comes to choice there is a possibility of earning a monthly job in fact, in trading, one must have good knowledge of trading. Many times, the difficult condition of the market is not understood, so many traders suffer. And monthly salary government employees have one source of income and less risk. If you have good knowledge about crypto then you can earn more but before that, you need to learn well about the market. Even if you work, side income from trading will back up.

I think there will be a conflict of time depending on what the OP's specific position in the government office.
If his job requires most of his time to be attentive to every detail while he's in his office, then I don't think he'll have enough time to analyse the market movement to execute a good buy and sell orders. That could be one of the main reason why he choose to leave his job to focus more on trading as he can earn more while doing it full time.

I would suggest that OP will need to have a business that could generate a steady and stable income that doesn't require most of his time. That serves as his back up financially when things in trading go south.

Trading can be done anytime and anywhere without any time limit, you can trade during breaks at work, on holidays and before bedtime. You need to know, crypto trading has quite high risks such as an unlimited decline in value, there are no fundamentals that can be analyzed and are not protected by regulatory bodies.
If you have a background as a professional trader, you can combine the two, apart from your busy life as a civil servant, you can use your spare time to trade. If I had the chance I would choose both.

Many people have gotten rich by turning their side hustle into their full time work, there is no shame in that. In fact it would seem that you are much more productive in your trading work, so you should do more of that and as long as you are paying taxes fairly - it's better for your community/society if you do the job that earns more, as long as it provides enough satisfaction to you. It seems like you've lost your love for civil service work, so take the money that you're earning and find some way to give back. Buy some land, plant a forest and donate it as a park. Go litter picking every day. Help the elderly. Join a food kitchen that feeds the homeless. There's all these other ways that you could help in your free time.

i agree with you, I already tried both of it . Having a work alongside with trading will give you more money in the future. Ir will only exhaust you in a bit but it will worth it once you manage it well. But if you want to focus then leave one thing and sacrifice it, you cant do both if you dont have the ability to do it.

I prefer to keep them both, no need to chose. It’s hard to trust in trading alone and expect for a consistent income knowing the crypto market is very unpredictable, likewise it’s inflexible and incompetent of yours if you just work all day and earn from a single source of income knowing you can also take advantage with your side hustle and make good profits through trading. So if you wish to get the best from your abilities and skills, then chose to work on both and prosper from them.

It's true. The issue with trading job is that you are never confident on your skills, because the final result doesn't depend only on your skills, but mainly on the market's fluctuations, which are unpredictable. To make a living from trading is a hardcore way of life. It's dangerous and you never have the assurance you are going to achieve a net income at the end of the month.

For a single person who lives on this own, this lifestyle may have its charm. On the other hand, for a person who has a family on his back it's not a feasible alternative, in my opinion, since stability is needed, especially when there are children in the family.

It all depends on how proficient and confident we are in that one field, if I am not sure of the abilities that I have maybe I will become a civil servant and get a salary every month while honing my skills in the field that I am interested in

Both are beneficial in its own way and we cannot say bad about anyone because everyone prefer those jobs which gives them high yield. I think that if a person wants to do dual jobs at a same time like a civilian employee can do business as well as he can also get involved in crypto trading or investment.

Although income of civil jobs are less but it is a confirmed value while that of other business may be large amount but we have fear about that money that whether we will be able to get that money at the end or not. So I think do a job and then put some money in Bitcoin so you will get your monthly income as well as money from bitcoin investment.

As much I also wanted to be in business and trade crypto at the same time, I wouldn't leave my 9-5 work if my business is still like in its growth stage. The pride of not being controlled or being your own boss, just like you said, has its own downsides. Once your business starts to show failure, assuming you only own a single business, your chances of being broke just snowballs in an avalanche.  It's kinda scary getting broke these days considering that inflation is an ass.

It's not a matter of being controlled or being your own boss, it's about being financially stable. There are still 9-5 works out there that still offer flexibility even if you work under someone just like mine. Corporate jobs aren't that bad at all, but I guess it depends to a lot of people. Another thing worth mentioning is that these days, you almost need to have another source of income so I guess that's where crypto investment/trading comes into place, I guess?

Not all office works require you to work for 6 full days. Even after our RTO policy, the office days still remained 5 days with offered flexibility wherein everyone has the choice to at least work from home 2 times per week. This kinda depends on the field though. If you really love what you're doing, then sit shouldn't really matter that much.

If you are this good at trading like you said then keep trading, to me trading and making a good amount of money daily requires skills and also a lot of money, sometimes the market won't move a lot in the next 24hrs, meaning you may only make 10% from an uptrend or downtrend, so you need a large some of the money for that 10% gain to worth your time and energy, if you are using 1000$ for trading you can make 50$ to 100$ depending on your chart skills.

I don't recommend futures trading, you can make a lot of money from futures trading but it's too risky, you can also lose every money you have if the trading call goes against you in futures trading.

As for your job/salary, only you know if it's worth keeping, it's always good to have an extra source of income but if you feel like the salary is too less and you are making a lot from your trading then it's good for you. Keep it up.

i prefer to focus on things that provide better income,, it can be business or trading,, because according to the fashion that I have that I don't like being under other people or sitting in an office for 6 full days, I can't imagine living like that .. if I do business or trade, it does give a burden on my mind that is no less heavy, but at least I can work freely without the need to be regulated by people and focus on other things that can increase the value of myself,, and that's the life that i want.

There's nothing like getting paid for something you love doing because its no longer work and you will never get tired of doing it because there is love and there's always a burning motivation to do that even if we have bad days doing, there's no such thing as perfect work or vocation, we will always encounter hard times because its part of our learning process on that job.

Between trading and office service, I will prefer trading if I become good at doing it and the office work becomes boring, or if I still find my office work fulfilling and challenging and I'm still learning how to trade, I will retain my office work and treat trading as my sideline or another income source.

The most important is we love what we are doing and it satisfies our financial needs.

I think a fixed monthly salary will never make us rich, I have felt a monthly salary for almost 8 years and finally I left and tried businesses such as apartment marketing, house marketing and so on, and when I'm lucky, within a month I can earn the equivalent of 2 years while working in the office.

There is a saying, When a blind begins to see, he gets rid of his stick first, which helps him when there was no one, Point is without that civil service job, would you become a tension free trader because you have to get your expenses in line before starting tension free trading, if yes. Then you don't need it.

But i prefer you to not leave the job for trading because as a civil servant (stick) job helped you in the first place, and it will help you in the ups and downs of trading too. Because there is a rise there is a down too. So if you already have a pre-caution option which you can choose to live a tension-free life then why trouble to think about choosing one?

If you can't take the weight of both work then that's another discussion but in your post, "you mainly mentioned due to money which you can earn in week and in days while you were earning monthly". So that's not an option.