As a trader, it's not good to rely solely on trading as your only source of income. Why? Depending solely on trading puts immense pressure on you to meet monthly bills. The consequence? You may find yourself taking unnecessary and low-quality trades.
However, when you have another or multiple other sources of income alongside trading, you can stay relaxed and have the mental comfort needed to make quality decisions. For example, you can be a trader and be a Bitcoin miner.
Do you have another trading psychology tip to share with me?
It's a good tip, but most of people come into trading to make money, so if they already have enough money to start another business or source of income then half of them might not come into trading. So the point is, money is needed to start another source of income and many planned to make that money from trading first. But if one becomes successful in doing that, he should really focus on setting up another source of income.
BTW, Another source of income also requires funds, time, and management, so saying you will be getting mental comforts if you will have another source of income that's not true. But yeah sometimes, when you might not be making money from trading, your other source of income will be making money for you, and that's relief. I would say besides doing the other work by yourself, hire an expert to do that task for you.