Quote from: tottong on June 10, 2024, 07:11:05 AM

Quote from: casey15 on May 03, 2024, 12:54:04 PM

Do not also invest your life savings into bitcoin trading. this will hinder your trading capabilities as you will be trading with emotions and fear of losing your money. Trading is best done without emotions attached this will allow you make decisions better.

It is not recommended to trade with excessive emotions because it will affect our performance in trading.
Using all your savings for trading is a bad choice and should not be done because savings have another portion to meet living needs.
Trading can be done responsibly by using a smaller budget to start with.

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Do not quit your job if you have one until you have become very profitable in bitcoin trading. The market can become very unpredictable and you can lose funds, so for you not to go bankrupt you should be very profitable before you quit you job or any other source of income you have.

The decision chosen must be based on the right thinking and leaving work to trade in crypto will be very dangerous when we do not have good budget resources.
Improve your trading skills and do it responsibly so that when you decide to stop working you have the right knowledge for trading.
Life will be much more problematic when we are unable to earn money stably and we will be faced with the problem of fulfilling life with our family.

That is why I think its quite important realize that if you ahve the income source that you are looking for, then it would make sense and there isn't really any issues, because even if you make some debt, then you are going to be doing fine in the end. However, if you end up with nothign at all, then you would be using your income to pay that debt back, I have done that before. HOwever, if you have no income then you have a much bigger problem, and trading can't be your only source of income. Reason for that is simply because you will have to constantly take out money from your capital, which hampers growth and you are going to end up with a lot of trouble soon enough, you should always make sure you have an income before you start first.