Then I plan to take a loan from my friend to deposit in trading again. When I asked him for financial help to deposit in trading, he advised me to find a source of income before entering trading again and advised me to refrain from trading recently and introduced me to this forum so that I can gain deep knowledge about trading. He even advised me to gain deep knowledge about Bitcoin investment so that after finding a source of income I can easily invest in Bitcoin. Should I accept such advice? Or should I go back to trading anyway? I am seeking proper advice from experienced people.
That's true, you shouldn't risk a money that isn't from you because at the end of the day if you can't control your emotions again and lose all of that money, you'll gonna borrow again or what? You'll face problems such as paying it and having more loans in the future.
Also, in reality, no one is a skilled trader, even if you know the fundamentals, there's no a skilled trader that could gain profit especially if he just learned it for 1 year or more. It also came from yourself that you're emotional when it comes to trading which is considered as a skill for controlling emotions, to have risk managements. The unwritten rule of this world is never borrowing a money if you don't have a sustainable plan or you'll just risk to another 50-50 situation.
When you are dealing up with trading then always make use of the mount on which this is something that you can afford to lose even if we do say that you are doing or making some allocation with this just for you to have that chances on trying out to change up your life on which this is actually true. There are just that those times or moments that people had been that too delusional when it comes into this aspect on which it will be that resulting up with that kind of desperation at the moment that they do make out some trades. In the talks about trading without having that enough funding and trying to take up some loan then this will be that a very not recommended thing to do so because using up some funds for you to have capital on trading which it will be giving out that kind of emotional reactions and instability because you know that these amounts are needed up to be that protected because this isnt something that you had been owned.
If you are planning to deal up with trading then make it sure that you do have that source of income on which you can somewhat assure that you are that be able to support or funded up your trading career.
Never ever put up into your mind that you've become that trying out to take up some loan or borrowing into those funds that you are trying out to make use of it for you to trade.
Just like been said that on the moment that you do make use of the amount on which are supposed not to be used of because it was not part of the budget or allocation then it will be bringing
out that kind of impulsiveness and that would be leading up into those conditions on where you cant be able to think up well and cant be able to make up good decisions.