Is it okay to trade without a source of income?
Is it okay to trade without a source of income?
I’ve been trading for 13-15 months and investing for 5 months. While I’ve had some success, I keep losing because I struggle to control my emotions. Just yesterday, I lost both my capital and my profits.
I’m thinking of borrowing money from a friend to trade again. When I asked him for help, he advised me to first find a stable source of income and suggested I take a break from trading. He also recommended I learn more about trading and Bitcoin investment so that, once I have an income, I can invest more easily.
Should I follow his advice or go back to trading now? I’m looking for advice from experienced traders.
If you keep facing losses, only trade with money that you can afford to lose, even if it’s just $10 or $20. Start small—trade with a fraction of your total capital, like $2 out of $20, and focus on improving your strategy.
This process could take 2 or 3 years, so patience is key. Without patience, you risk losing more money. Don’t view trading as a quick source of income; for those without the right approach, it will more likely lead to losses.