With all the uncertainties, it's surprising if someone doesn't see the need for a second source of income. Diversifying our income can naturally increase our overall earnings. Relying on trading as your main income is risky and can be frustrating due to market conditions. Every trader experiences this. We need to set up passive income streams. For me, it helps me sleep better without much stress. By diversifying our income, we can achieve greater financial security and enjoy life more.
If someone can diversify their sources of income then that is indeed a good thing, but that also does not mean that we should consider trading as our main source of income. The main source of income is not necessarily the highest source of income but must be stable and capable of meeting our essential needs. Meanwhile, who dares to guarantee and think that they can make a stable profit from trading? Like what is happening these past few days, can any trader dare to claim that they are making very stable profits in an extremely volatile market?
If you follow market news, you will know that in the past 3 days, hundreds of millions of USD have been liquidated, and if this situation continues, what will happen when we consider trading as a main source of income? Where will we get money to cover daily expenses?
Totally risky but we dont really have any choice specially to those who are just that depending on their day job. It is really just that too conclusive to say that traders are unemployed because there are traders who are profitable but still they are really that engaging with trading to have some side source of income on which they could really be having to add up aside from their day job salary on which this is really that indeed great.
Also, its not recommended too on making trading as your main source of income too because when it comes to market unpredictability then it could really be that resulting on having those huge loses on which it might result
on having that kind of effect into your way of living. Instead on quitting or resigning into your day job, then it will really be that best that you should be doing both things as long it could bring out that something
or in profits. Later on, you would really be needing to upgrade yourself on trying to make up some business or investment. Diversify as much as possible because it will really be that leading or making yourself to be that financially free if you do find yourself having multiple income sources on which it isnt really just that focusing into your day job salary alone but also in other things as well. Trading is really just that good for side income and on the moment that you are making good money with it then dont quit up your job because there's no assurance that it would last up. Trading skill isnt something that you cant be able to learn in a short time period
and you will really be needing up to learn it on a certain period of time and that wont really be so short.
Nowadays, there are still many people who only depend on 1 income, this is a big risk. i once met an active trader who i thought his income was 100% from trading but i was wrong, he made money from bonds and also dividends from the gold he saved and the results of trading if he made a big profit then he would use the money to increase his investment capital in bonds and gold, i admit that this person is really extraordinary in managing money, he maintains the liquidity of his money well and people like this are very rare. So trading as a job is actually not a wrong view, it depends on how you look at it.