Quote from: stadus on July 11, 2024, 11:19:59 PM

Remember that in trading, gaining profits is only temporary as we can't assure to keep trading and consistently make profits. So if you are a wise person, you wouldn't put all your trust into trading alone for all your means for survival, as you have to diversify your sources of income as much as possible. If you can invest and trade, much better. But if you can also invest outside bitcoin like real estate, stocks or gold, then the higher the chances you will make a good living in the future. Don't limit yourself into bitcoin, but create limitless opportunities outside bitcoin.

While diversifying we have to put into consideration things that would not need our full attention as it would not be a good idea to divide your attention from trading. Trading needs concentration and time to be able to study the market and practice your strategy to perfection on demo account before using it to trade live. If you diversify by diving your time, before you are done with the new work or business, you might be tried to trade and if you trade while you do not have you brain in its full capacity, that is disaster that you are trying to create. As you diversify, you have created a good opportunity for yourself to make more income but let it not be at the expense of your previous income source. Some good diversification technique that doe not need you to be present for the income to function and bring you money are investments that only needs your money and you should already be making the money from trading to support your investments.