At the beginning I want to say that I am a semi-skilled trader. I do not have any source of income. I have been learning trading for the past 13 to 15 months and investing for 5 months. But even though I am temporarily profitable from here, I am completely losing because I cannot control my emotions. This is repeating itself with me again and again. Even yesterday I lost my capital along with my profit.
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.
I think your friend really conveyed very wise advice. Because that's how it has to be. Moreover, because trading has risks that we cannot predict, it is highly inadvisable to trade with borrowed money. It will really disturb you during your trading activities and I'm sure you won't feel calm in analyzing when the money you use is actually not money you can afford to lose. Because you have to pay off the loan on time, you will be racing against time and sometimes you will be rushed in your trading activities. And if that happens then you might not even get a profit in your trading and the opposite could happen.
If there is an opportunity to make extra money or there is a job that can be done that can bring you money then it is better to do it. And collect enough cold capital for you to trade again if you are ready to take the risk again.
but your experience reminds me of an acquaintance and friend of mine who has also taught me several analytical techniques in trading. He is also a full-time trader, he makes trading his job. But I remember him telling me that I should not follow in his footsteps. Because according to him it takes years to get to the stage where we really understand the market and can get maximum profits. In essence, becoming a trader is really not easy. It requires a long time of dedication so that we can truly become pro traders. Currently my friend is still a trader but he is also building his own business in the real world. Because he once said that being a full-time trader is more mentally tiring.