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?
A Brilliant idea which is best for mostly beginners and those who are new or yet to be experienced enough in trading, there are people out there who gets into trading full time as an occupation and still have that mental comfort they need to be able to trade well and still have winning trades. you can decide to be trading full time and i can assure you that you can still opportunities in it such that you wouldn't be pressured enough yet you will be able to still win trades enough to be able to take care of your bills. There are people out there who make a living off trading and are under no pressure as you think but then for newbies and those who are new to trading, its really risky trying to depend solely on trading so its advised we get an extrs job so when yo need somthing immediate, your pay cheque can take care of it while you still develop your trading skills.