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?
That’s true, the more liquid you are the better meaning you have a lot of sources of income that can cover your expenses and your investing needs as well. Another thing is that, having a positive attitude in the market can bring positive result and despite of the challenges, you will remain bullish and will continue to be more responsible especially in trading itself.