Choose trading as a career only if...

[Findingnemo]

Most people lose in trading because they're not really prepared for it so certain qualities are necessary for someone to choose trading as a career path.

First thing is capital and risk tolerance, yes even though we can start trading with as low capital as possible but to make it as a career it needs atleast decent capital like $5000 range that will give better cushion to make trading decisions and could be enough to make something like needed for survival let's say $500  which itself 10% profit which is difficult but possible with right choices.

I would like to hear from you, what would you like to add into this list for someone who wants to make a career out of trading cryptos.

[TomPluz]

In trading whether crypto or not, one must have the capital, the mindset and the skills to survive, flourish and really make good money. Trading is considered one of the best ways to gain financial independence as seen by many successful and influential personalities capitalizing on their trading success. Trading is not easy and can be too risky when one is not prepared...must have an experience and one can start with small capital to gain that necessary experience as nothing can happen if one is not so willing to start and face the possible risk. I am not sure if $5000 can really be the requirement as certainly there are popular traders who started small and learn along the way...though of course if one has $5K then it would really be helpful.

[Charles-Tim]

Trading should not be a career unless... It can be a career when a trader see something positive about it. Assuming you have a reliable work, but also you are trading. If you are trading and trading is meeting your expected profit and also in a way you do not depend on other jobs, then you can make trading a career. Make trading a career when trading the profit from trading convince you about it as you make money from it that can sustain you, your family and savings in long period of time like many months to a year or 2.

[Findingnemo]

I am not sure if $5000 can really be the requirement as certainly there are popular traders who started small and learn along the way...though of course if one has $5K then it would really be helpful.

$5000 isn't required when they start trading but when they decide that trading is going to be their sole earning way then $5000 is the least to start with because $500 profit itself challenging as I said and that's the decent amount of money that one can survive their monthly expenses but also I am not suggesting anyone to choose trading as their only way to make money but if they do then make sure they're prepared enough to face the pitfalls.

[Ujok]

To become a trader as a career, you have to be prepared mentally, with a lot of capital and knowledge because all of these must be there, if one of them is not there then it is not balanced. a trader must be smart in setting strategies and managing assets so that trading is not done with one coin but several coins must be traded, and must have an income target such as earning a daily income. When one coin experiences a loss, we still have another coin to cover the loss.

[Publictalk792]

I totally agree that many traders fail because they are not prepared. If we want to succeed in trading we need more than just money and willingness to take risks. We also need self control to stick to our plan and patience to wait for good opportunities and constant learning to stay up to date. Controlling our emotions and adapting to changes and having realistic goals are also important. We should also manage risks well and have trading plan and keep track of our trades.For trading cryptocurrencies understanding how they work staying informed about rules and regulations using good charting tools and spreading our investments are crucial. Also having right mindset and managing stress helps us make smart decisions and achieve long term success. Building support network and focusing on progress not quick wins is key.

[Findingnemo]

Ofcourse along with capital, skills and experience is important and if one miss then no matter how much capital it will be busted in no time.
I expect more in specific guys like what and how one can approach it as a career path.

Prepare an emergency fund apart from capital, which should be sufficient for 6-12 months of survival initially because we can't expect things to turn around just from the go.

[Crwth]

Well, I do believe that there should be added qualities when you are trying to make trading your career. You should have the best education and understand the market. In this way, you would know that trading is crucial, and you need to learn continuously and adapt—the emotional aspect so you can control and not make rash decisions. Not being impulsive can lead to success in trading.

Risk management should be a part of it as well.

[Sim_card]

Trading should be part time job and notva career because I see 5000 dollars still small for a new trader to start with in a volatile market, because in the long run, you might lose that funds. This means that to be successful in trading you must be rich to start trading. There is no guarantee that you will nake profit in trading and losses are inevitable no matter how professional you are in trading. It will be nice for me to invest $5000 in bitcoin and simply hodki than risking it in trading with a lot of stress and emotional drama.

[MrSpasybo]

Most people lose in trading because they're not really prepared for it so certain qualities are necessary for someone to choose trading as a career path.

First thing is capital and risk tolerance, yes even though we can start trading with as low capital as possible but to make it as a career it needs atleast decent capital like $5000 range that will give better cushion to make trading decisions and could be enough to make something like needed for survival let's say $500  which itself 10% profit which is difficult but possible with right choices.

I would like to hear from you, what would you like to add into this list for someone who wants to make a career out of trading cryptos.

Capital and risk tolerance are just the initial stepping stones for a trader to kickstart their career. You can't trade without capital, and you won't trade if you're not willing to take on some risk. Even putting your money in a bank or buying government bonds comes with its own set of risks.

Traders need a whole lot more to build a successful trading career: knowledge, experience, capital allocation skills, emotional control, discipline, stop-loss orders, profit-taking habits... You can find all this and more in various topics on the AltcoinsTalks forum, so I won't repeat them here ^^

[laijsica]

Trading slots in your given $5000 range can be very reliable. I value your opinion that a trader can start with at least that decent capital to get his profit. In fact, investment decisions lower than this may not be good for dealing with risk, yet people with financial considerations for investing can start with any amount of capital.

[Mia Chloe]

The truth is that the whole summary of it all is that trades are moved by capital. Yes you actually can't underestimate the importance of understanding technical analysis but Still you need a nice capital for you to be able to bag a nice profit. People that copy trades from big traders at first don't seem to bag huge profits because of leverages and lot sizes.
Bigger traders actually have an edge over smaller traders in the market and that's simply because of the amount of capital they put into their trades compared to the small retail traders. Yes the whole stuff is about risk management but the fact is to be profitable you knowledge has to be backed by capital also.

[KingsDen]

Responding to the post title, I will say one should choose trading as a career only if they are emotionally strong for it.

Definitely, anyone who intends to go into trading must have an amount of capital he intends to trade with. He must have learnt a few things about trading and is convinced that he is prepared for it. But when he is not mental capable of handling the ups and downs that comes with trading, alot will go wrong and he might end up not having a successful career.

[_act_]

Trading should be part time job and notva career

I see trading not as job at all. Or you means it should be seen as a side job and not a main job. But yet I prefer not to see trading as a job. Trading is very risky. Most traders are losing is the reason. But anyone that is trading for a long period of time and have huge profit can see it as job.

because I see 5000 dollars still small for a new trader to start with in a volatile market, because in the long run, you might lose that funds.

You means $5000 is not small? I guess you mean it is too much because the person can lose the money. Yes newbies traders will lose most probably.

[gunhell16]

Most people lose in trading because they're not really prepared for it so certain qualities are necessary for someone to choose trading as a career path.

First thing is capital and risk tolerance, yes even though we can start trading with as low capital as possible but to make it as a career it needs atleast decent capital like $5000 range that will give better cushion to make trading decisions and could be enough to make something like needed for survival let's say $500  which itself 10% profit which is difficult but possible with right choices.

I would like to hear from you, what would you like to add into this list for someone who wants to make a career out of trading cryptos.

You know, dude, the majority of us in this field of the crypto space know that trading is very complicated, which is really true. Now, if the fund you are going to enter is $500, it is a bit necessary, so you can't make a mistake as much as possible.

Especially if you are going to conduct trading activity in the futures trade, now in order to control your fund, you must, in every setting you make in the trade, do not forget to put SL and limit it to 2$ first so that you can observe the flow of what is happening in the market. And limit yourself to 10x-15x leverage; you should not go beyond that.