Quote from: laubeaud on June 22, 2024, 04:43:22 PM

As a trader, it's not good to rely solely on trading as your only source of income. Why?

When you consider trading as your only source of income, you will need to force yourself to open trading positions, and try to find opportunities to get profit, income from trading. It potentially forces you to open trading positions when you are unsure about the market. This type of risk taking trading activity can increase risk to trade badly and raise risk of losing your trading capital.

Quote from: Kemarit on Today at 01:56:10 AM

I wouldn't say that this is a hack though, I mean you really have another source of income, others might have a full time job 9-5 desk job and then at the side is doing crypto trading. Or others have business, online or offline and then again they trade with their free time. Of course any job that is not stable will give you problems and stress you out because you have to think of your family. You will always think that you have to bring food in the table 24x7 and if there is money issues, then it might really affect you.

Trading causes more problems in psychology of a person which can be reason for many bad trading actions. A trader will have more pressure if trading is the only source of possible income when jobs lost already but even if you have jobs that can give you income, your trading career and actions can still be wrong and you still have risk to lose money with trading.

It's better to have trading as an extra job and only as a possible extra income, not the only or main source of income.