Post
Topic
Board Trading Discussion
Re: The Importance of Income Diversification for Crypto Traders
by
Dr.Bitcoin_Strange
on 11/07/2024, 19:29:27 UTC
As a crypto trader, do not rely on trading as your only source of income. It is good to have another source of income like real estate, staking, crypto jobs, mining,  and other legitimate sources of income. If I say that I will force trade now, it can end up in a loss.


What is your take on this?

Well, this actually depends on the situation and also on the individual. There are some people that started trading as an occupation and they made big profit despite that they started small. From trading, some of these people raised  money to invest in other asset or start a big company outside trading.
You can start trading with $10 and if you have a good mastery skill in trading due your effortless practices, you can multiplay that $10 to $100. It may not just happen suddenly but if you are patient, persistent and not too greedy, you will definitely continue to multiplay the money despite the loses you will sometimes incurre.

During the primary stage of learning how to trade, you can have other sources of income. If you can also manage your other jobs or source of income with your trading, that is perfect but I know that trading need a full attention and dedication from the trader. But after you have become successful in trading, you can invest your profite to other asset like the real estate you mentioned.