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Do not start trading as your source of income

Postby Yugocean » 18 Apr 2023, 10:33

Online trading has simplified trading, and since the time the crypto market started, almost everyone has become a trader. Trading is also the main source of income for many, but it should not be started immediately as the main source. Fluctuations are common in this, and crypto winter also proved that it has to be processed in the long run. In this case, you must have some other source of income.
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Re: Do not start trading as your source of income

Postby augusta » 18 Apr 2023, 14:49

I think this is to save us from failing badly and not being able to rise after the fall. So I understand to use trading as a backup than the main source
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Re: Do not start trading as your source of income

Postby nela13 » 18 Apr 2023, 14:49

I really want to venture into the world of investments but first I still have a lot to learn, it could never be my main source of income, with my current knowledge I would run the risk of going bankrupt.
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Re: Do not start trading as your source of income

Postby Treborika » 18 Apr 2023, 15:11

I think trading has no difference from gambling. This is because in both of the two depends on your luck and mostly people are advised to trade/gumble that you can afford to loose.
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Re: Do not start trading as your source of income

Postby Nsikan » 21 Apr 2023, 05:53

People that trade crypto and forex have given their lives to study it. If they are masters, they can take it as their main source.
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Re: Do not start trading as your source of income

Postby eldavis » 18 Jun 2023, 18:30

Personally i would not advice anyone to actually use trading as their major source of income. This is because your earnings on forex trading is not stable. There is no guarantee that your next trade would give you the desired results. It better to have other sources as well.
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Re: Do not start trading as your source of income

Postby Presh » 23 Nov 2023, 07:07

It would be one of the financial mishaps for anyone to even consider crypto trading as a main income source. Market fluctuations would just render you completely btok. It is a passive income source for me.
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Re: Do not start trading as your source of income

Postby King Belieal » 23 Nov 2023, 07:40

You need to have another sure and established source of income before you delve into trading crypto. In that markets, margins between profits and losses are too small to depend on it.
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Re: Do not start trading as your source of income

Postby Kalayla » 23 Nov 2023, 07:53

When you have something else doing, you would be able to get back up with your trading if you lose all your investment.
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Re: Do not start trading as your source of income

Postby JASPREET » 23 Nov 2023, 09:06

I sometimes think like that and plan to start trading to earn big but I know its so risky
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Re: Do not start trading as your source of income

Postby Presh » 24 Nov 2023, 01:44

JASPREET wrote:I sometimes think like that and plan to start trading to earn big but I know its so risky
Just make sure you have a day job or business but the side. My brother that trades only does so as a side hustle. He is a full time driver. People that stay home all trading have solid side businesses that bring them money.
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Re: Do not start trading as your source of income

Postby Uty Theo » 24 Nov 2023, 06:00

I have a day job. I just set reminders to send Mr alerts of market movement which I check few times to see if it is safe to place a trade.
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Re: Do not start trading as your source of income

Postby JASPREET » 01 Jan 2024, 08:57

We should never have this sort of mindset as it will only gonna make us feel like a fool at later stage as we won't be able to retrieve anything from it
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