Post
Topic
Board Trading Discussion
Re: The Importance of Income Diversification for Crypto Traders
by
justdimin
on 12/07/2024, 15:49:22 UTC
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.
I would say that it depends on what we are talking about, if we are talking about a full on "all in" trading yeah that's wrong, but nobody does that anymore. What you do instead is have maybe like 17 open trades, which means that you are going to make some good return from some of them at least, and while you can't guarantee income from all of them, you will not have 100% correct or 100% wrong ones.

This is why I think we should recognize the fact that it is going to end up with some trouble if we are not careful about it. All in all, just keep on trying your best and you might actually get a good result, all you have to do is focus on how to improve and eventually you will get a good result without a doubt, it's possible.