full time or part time trader?

[DavetJack]

we all have different opinions as well as strategies when it comes to trading i have encountered some people say that they think trading shouldn’t be your main source of income and instead be only treated as a side hustle

but can you really be profitable if you only trade on the side? isn’t better to dedicate much of your time and resources to trading to maximize profit? or is trading as a side hustle with a main job sufficient and profitable enough?

In my personal opinion, we can make trading a full-time job, or just as a side job. Of course, those who work full time in trading will get more than those who only do it as a side job. But for me, trading cryptocurrency is just a side job, because I have a real job. And this has been profitable for me, although not much but it is enough.

Trading is an outside job to our full time job. We will not always profit from trading, it can be considered as our extra job in our free time. Yes, we should spend time on this trading but we should be here after our parliament works. If we rely only on trading then we will not be able to do the work that we have in our parliament life, so we should be here in our free time.

[Z-tight]

You can't be sure while you only trade, even if you are good trader, there will be ups and lows there,

Yeah, that is what many newbie traders find out the hard way. Many of them get into trading and they believe they will only be making money, some of them even join signal groups, while others do copy trading, it is inevitable to lose when trading, even in investment too, you just need to learn how to manage your risk.

[Sim_card]

I would prefer to be a part-time trader so that I can also have time for my job or business. It's not good to use trading as a full time job because it's like gambling that profits is not guaranteed and cannot be relied on. However, trading all the time will lead to more losses. There are times that you don't open a position to observe the market.

[bounceback]

I would prefer to be a part-time trader so that I can also have time for my job or business. It's not good to use trading as a full time job because it's like gambling that profits is not guaranteed and cannot be relied on. However, trading all the time will lead to more losses. There are times that you don't open a position to observe the market.

If you have own business its not recommended make cryptocurrency as full time part, but I disagree with your opinion about trading like gambling about profitable earn not guarantee. Huge difference between trading and gambling with easily two way win or loss, trading can be guarantee earn much profitable depend on how smart make research firstly.
If you spent much time for analyzing the market you have bigger chance to earn much profit from trading, some time when market huge decreasing give large opportunity with much profitable earn and bigger earn with trading than how much earn from business.

[bitbit97]

Depends on what result such trader wants to achieve. If his goal is to gain significant profit or significant amount, then part time trader is not his option. I cant imagine and dont believe that someone can be truly successful in something by not dedicating all time and strength on it. I think its pretty simple, that amount and result equals time spend. Dont even try to be successful if you dedicate one hour before you go to sleep. Even trading on weekends, and working at regular job during working days wont give a result. With such timetable, a person will burn fast.

[bhadz]

I have seen a lot of full time traders that really make money off the market. I can't par with them but they have shown valid proof that they do. And that's why I believe being a full time trader is a lucrative career for those that understands the market. If you're as good as them, then make it as a career and a bread and butter for yourself and family. I cannot be on that side but I admire them because the possibility of a person doing full time trading is very high.

[Mr. Magkaisa]

we all have different opinions as well as strategies when it comes to trading i have encountered some people say that they think trading shouldn’t be your main source of income and instead be only treated as a side hustle

but can you really be profitable if you only trade on the side? isn’t better to dedicate much of your time and resources to trading to maximize profit? or is trading as a side hustle with a main job sufficient and profitable enough?

       -       Maybe there are some crypto traders who actually get passive income from trading, but the majority still do not get a passive income that can be said to be their stable source of income. But it is difficult to do this if you do not have any other source of income in reality.

Although having a sufficient job can help a lot if you are just a newbie or are at the stage where we are just learning trading, because in a car we have a source of gasoline and maintenance so that we can keep the car running smoothly, so this crypto trading is really like a car.

[Azharul]

Of course part time trading because I am involved in a business due to which I get time to devote to crypto. Moreover, I am not very good at trading due to which I cannot always make a profit. Since there is a risk of losing money when you trading without powerful knowledge, I am involved in a business to manage my life. Anyway, trading can take you anywhere from rich to poor, so you should start trading with sufficient experience. Suppose you have been trading full time and lost money, so to start trading again then you need capital. So which is why we should be connected to a business or job.

Actually, I think that you could explain a best opinion in your comment. So I am also agree with your prefer comment. We know that trading is very important for earn best profit from cryptocurrency market. But when we want to start trading, we should trying to understand in cryptocurrency market. Because we know that cryptocurrency market is always depending on up and down, in this situation crypto trading will be very risky for us. So if we follow in long term trading, then it will be very helpful for us in cryptocurrency market.

[Brijesh]

I am full time trader since 2020 but due to heavy taxation rules in india daily trading is not possible in India so again Indian government force me to become part time trader again.in India 30% tax on profit and 1% TDS on every transaction,  also you can't set off your losses against your profit, its very hard to trade in India now..

[enwi]

Actually, I think that you could explain a best opinion in your comment. So I am also agree with your prefer comment. We know that trading is very important for earn best profit from cryptocurrency market. But when we want to start trading, we should trying to understand in cryptocurrency market. Because we know that cryptocurrency market is always depending on up and down, in this situation crypto trading will be very risky for us. So if we follow in long term trading, then it will be very helpful for us in cryptocurrency market.

Well, you have a correct perception about how the crypto market operates. It evident that high volatility is inevitable and for some, it is something as a hindrance. However, those people who focus themselves on long time perspective have a higher probability to gain good results. The market has shown that its value continues to cycle, and for those who are patient, today's price drop could be tomorrow's opportunity. Each important and powerful share does not correlate with the high speed of day trading; therefore, the longer term means more comfortable and profitable.

[omori]

I am full time trader since 2020 but due to heavy taxation rules in india daily trading is not possible in India so again Indian government force me to become part time trader again.in India 30% tax on profit and 1% TDS on every transaction,  also you can't set off your losses against your profit, its very hard to trade in India now..

Even if you trade on CEXes?

[Jating]

I have seen a lot of full time traders that really make money off the market. I can't par with them but they have shown valid proof that they do. And that's why I believe being a full time trader is a lucrative career for those that understands the market. If you're as good as them, then make it as a career and a bread and butter for yourself and family. I cannot be on that side but I admire them because the possibility of a person doing full time trading is very high.

I think it can be done, if you have a lot of time and money and focuses on it. We have seen some successful trader as well and that is because they put everything on trading as maybe this is the only bread and butter for them.

I even have friends who became successful in forex trading. So everything is possible if we really put 100% focus and see it as the only means to make a living. With that kind of mindset, it's impossible to fail. And with crypto, there are a lot of opportunities, even short day traders make a lot of money from taking advantage of it's volatility.

[Blaze]

I have seen a lot of full time traders that really make money off the market. I can't par with them but they have shown valid proof that they do. And that's why I believe being a full time trader is a lucrative career for those that understands the market. If you're as good as them, then make it as a career and a bread and butter for yourself and family. I cannot be on that side but I admire them because the possibility of a person doing full time trading is very high.

I think it can be done, if you have a lot of time and money and focuses on it. We have seen some successful trader as well and that is because they put everything on trading as maybe this is the only bread and butter for them.

I even have friends who became successful in forex trading. So everything is possible if we really put 100% focus and see it as the only means to make a living. With that kind of mindset, it's impossible to fail. And with crypto, there are a lot of opportunities, even short day traders make a lot of money from taking advantage of it's volatility.

Indeed, the world of trading can become a very suitable place for such people who are ready to invest time and effort in it. There is nothing like confidence that goes hand in hand with assurance on one’s capabilities, doors to great chances can usually arise. Speculators who dedicate their whole working time at trading without doing other business are usually able to channel more effort in their efforts to succeed. In this world nothing is not easily achieved, with diligence and attitude that will enable one to face challenges in his or her life then most of the people have already realised their dreams. These results are not imaginable without their willingness to accept such opportunities that come in equal measure.

[Fivestar4everMVP]

we all have different opinions as well as strategies when it comes to trading i have encountered some people say that they think trading shouldn’t be your main source of income and instead be only treated as a side hustle

but can you really be profitable if you only trade on the side? isn’t better to dedicate much of your time and resources to trading to maximize profit? or is trading as a side hustle with a main job sufficient and profitable enough?

One can not divide him or herself into two right? You can only do a thing at a time, and as such, you can't really dedicate all your time to trading and still find the time to also dedicate to other jobs.

So, I would say that what you are asking about is divided into two categories..
1. Someone who has a good paying and reliable job, and still wants to trade can only do so by the side, that is, he or she will have to treat trading as a side hustle because giving trading all his or her time will definitely and negatively affect his or her well paying and reliable job.

2. A person who doesn't have a good job or doesn't have a job at all can sure take trading as their main or major source of income, in this case, he or she can sure dedicate all of his or her time to it since he or she has nothing better or more important to give this same time to.

So in the nutshell, I would say that treating trading as a Main hustle or side hustle depends on the person and depend on what other things the person does for a living.

[milewilda]

I am full time trader since 2020 but due to heavy taxation rules in india daily trading is not possible in India so again Indian government force me to become part time trader again.in India 30% tax on profit and 1% TDS on every transaction,  also you can't set off your losses against your profit, its very hard to trade in India now..

What exchange you are trading on?
How they would be able to deduct out that 30% of your overall profit?

I do believe that if we do speak about crypto cex out there then i dont really believe much that they would be able to trace you out, or you do have tons of options on which you can be able to make trading on without even having that getting caught. It is really just that too sucks that they are trying out to get 30% with those profits.

Back into the topic in becoming whether full time or part time, then it will really be basing or depending in according into your free time and if you do have that day job then it will be understandable that you go for part time but there are actually still the possibility that you can earn more than on your day job on which there's indeed those chance and this is where some peopel do make out some transition.