Post
Topic
Board Trading Discussion
Re: I quit my job to do full-time crypto-trading
by
exstasie
on 24/05/2019, 01:47:54 UTC
Depending on what your job was (hard / easy, low / high paying), it is hard to say that it is smart or not to quit with it. Regular job is in most cases provides some kind of permanent income on monthly basis, something that you can always rely on. On the other side crypto trading is always risky, one day can be very profitable, and next day you can lost all. There is also a risk of exchange is get hacked, but this is risk every trader must accept.

The inevitable trade-off with self-employment (like day trading) is you need to give up a steady paycheck and really force yourself to work, and save. I have a couple businesses and I trade for a good chunk of my income. I'd say it's very much worth the freedom and the opportunity to earn above and beyond what a regular job used to provide me. However, I'd also say many people don't have the discipline it takes to make self-employment work. For most people, it's easier just to have a job.....even if they hate it.

For anyone who does plan on quitting their day job to trade, make sure you've got a nice cushion in the bank first. 6 months to a year at least.....you don't want to be digging into your trading accounts to pay your day-to-day expenses.