full time or part time trader?

[Charles-Tim]

Trading should not be seen as a full time or side hustle. It should be not be seen as a means of earning money unless the trader has tried to make money from it and see what happens in some months after using small amount of money on it. That will determine how he will think about trading.

But no matter what, even if you make money from trading (but which it probability is very low from happening), make sure you do not make it a full time job. Have businesses that will earn you money.

There are no probabilities on making money when trading, and as far as i am concerned, trading is a lucrative business especially if you have the necessary experience with large capital.
There is nothing wrong with making trading as a full time job, like i said, it all depends on your experiences and the knowledge of the crypto market, and trading can be means of earning in my opinion.

You will need to read my post again very well and understand what I posted. No one should see trading as a means of making money. It is the trading result (which will either be profit or loss) that the person sees in trading that will determine that. That is exactly what I posted.

[Zed0X]

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?

There are different scenarios or factors to consider here like the size of capital where even a slight price movement could yield decent profit or a sizable loss. If you have a capital where you need a 50% or higher markup before you could consider the time spent trading as worth it, perhaps it's better to do this on the side or have a longer time frame.

[jeraldskie11]

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?

There are different scenarios or factors to consider here like the size of capital where even a slight price movement could yield decent profit or a sizable loss. If you have a capital where you need a 50% or higher markup before you could consider the time spent trading as worth it, perhaps it's better to do this on the side or have a longer time frame.

For me, the simple answer to his question is depend on the capital and his winning rate. If he has huge capital with a high win rate strategy, then probably quitting his job is not a problem anymore. There are traders who can get more money in trading than with his job so that they decided to quit their job. But if you are just practicing or not profitable enough in trading, don't quit to your current job because sometimes stress comes out when experience losses and you know that you are now only relying in trading. You can't see the same setup everyday, and because of the eagerness to make a trade everyday you are entering a trade even though the char is not good. That is what we have to consider before you decide to quit or stay on your job.

[ZAINmalik75]

Being a professional trader and focusing on it as your only source of income is doable. Yes, having another source of income will always be the better choice, but what if you're making way more money in trading than your other income source? What if that "other source of income" is sucking too much of your time? I believe that having multiple sources of income is good, but like I always say, if you're profitable in trading for a long time already, you can just focus on it, and be better at it.

You make a very good point and I agree with it because if we are already making profit and we are good at it then we do not need another source of income in the first place but I have seen many professional traders they are spending their time on other source of incomes too but they are also related to their trading like selling their trading courses.

Being active in their VIP groups and sharing information which they would already be getting for themselves but now they will be being paid for sharing it in their groups too so they are expanding their trading profession to generate more income.

[PX-Z]

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?

Being a full-time trader is more than just spot trading. Staying only in spot trading isn’t always profitable, so you’ll eventually need to explore futures trading or even options. However, these come with high risks, and real knowledge is required to minimize losses and turn a profit.

[Blaze]

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?

Being a full-time trader is more than just spot trading. Staying only in spot trading isn’t always profitable, so you’ll eventually need to explore futures trading or even options. However, these come with high risks, and real knowledge is required to minimize losses and turn a profit.

Yes, trading is not only about purchasing and selling commodities directly in the spot market but also about learning how one can make money in other existing tools. It is quite clear to you that there are many opportunities like futures and options trading which may become available to you. Although it is clear that there are the opposite views, one have to admit that the higher the potential profit is, the greater risk which has to be taken. That is why every person that wishes to advance his learning in this branch should have enough understanding not to be trapped in taking decisions that will be unbeneficial. It can be observed thru what you have expressed that you start already in having a mature outlook to the continuously growing world of trading.

[LogitechMouse]

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?

Being a full-time trader is more than just spot trading. Staying only in spot trading isn’t always profitable, so you’ll eventually need to explore futures trading or even options. However, these come with high risks, and real knowledge is required to minimize losses and turn a profit.

The higher the risk, the higher the reward.
Yes, we need knowledge, and that's why traders are constantly learning because they believe in the saying "Knowledge is power". They know that the more equipped they are, the lower their chances of losing in futures trading.

I agree with what you said that staying in spot trading isn't always profitable. The only way you will earn from it is when the coin goes up. What if we enter the bear market? How can a spot trader earn money if he only focuses on spot trading? I hate to say it, but futures trading is where most of the profit comes from.

[MrSpasybo]

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?

I'm not a professional trader, I just trade once a week, and it's a DCA order for BTC and top coins. I monitor the market in the evening after finishing my main job, and I only consider investing in crypto as a part-time gig to earn extra income.

If possible, I'd also like to become a professional trader and be able to earn a stable income from trading instead of spending too much time on boring outside jobs. However, I'd only want to work 4 hours a day to have time for more important things, like family and science. I believe that traders sometimes need to step away from the market to protect their trading psychology in order to optimize profits.

[milewilda]

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?

Being a full-time trader is more than just spot trading. Staying only in spot trading isn’t always profitable, so you’ll eventually need to explore futures trading or even options. However, these come with high risks, and real knowledge is required to minimize losses and turn a profit.

You can neither be a spot or futures trader on doing that full time trading on which it will really be that getting in line with your specific skills on which even though both are the same trading but when it comes to risks level then high leverage could turned out to be that a gambling if you wont really be that careful or wont really be that handling out the risks well. In speaking about in between full time or part time then it will be basing up into your condition on which neither you do have that sufficient time or not. If you do saw your trading profits and consistency is already that better then its not bad to make yourself that going full time but of course you should embrace that this journey on dealing up with volatile space is never been easy and a serious thing to be done.

[Noel26]

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?

I think it is still better to have a regular job with regular income than just depend on trading because trading profit is not sure or stable it is sometimes profitable but sometimes it will make us loss so be careful.

[Mr. Magkaisa]

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.

      -      This is what I just noticed, when someone has a regular job and you share this opportunity with them, most of them can't really do it properly, Yes, they will say they are interested but we can see it in their actions which is the opposite.

Because of course they are used to having a stable salary every month or every 15th of the month. So they are used to their upcoming salary knowing where their salary will go. And what they will receive is not enough for their expenses or bills so the result is that they don't have time for it. They will probably only have time for crypto as a part-time job if they themselves know how to do their time-management properly.

[LUCKMCFLY]

Both full time and part time trading requires a solid knowledge to know how to analyzed the market effectively. If the trader doesn't know how to do his analysis then there is nothing to profits from the market, so for one to be successful while trading they all needs basic concepts by having deep knowledge about fundamental and technical analysis to help them determines how the market could reacts over the period of time they are trading on. But to me, If I senses instabilities I wouldn't mind just becoming investor than keep trading because sometimes the market could be that difficult to predicts over the time.

You are right, well I have read many books and when you start to see things they are not so easy, sometimes I feel that when I operate I know nothing, sometimes the market makes me doubt the concepts that I know, and that I apply a lot of Wyckoff analysis and in view of that I have looked for many Wyckoff configurations and despite all that the market does things that are not contained there, fundamental analysis is extremely important, in short-term trading you know that technical analysis with shapes, chart figures has seemed super efficient to me, it is very fulfilled, it is incredible and the theories of supports and resistances.

[SmartGold01]

Both full time and part time trading requires a solid knowledge to know how to analyzed the market effectively. If the trader doesn't know how to do his analysis then there is nothing to profits from the market, so for one to be successful while trading they all needs basic concepts by having deep knowledge about fundamental and technical analysis to help them determines how the market could reacts over the period of time they are trading on. But to me, If I senses instabilities I wouldn't mind just becoming investor than keep trading because sometimes the market could be that difficult to predicts over the time.

You are right, well I have read many books and when you start to see things they are not so easy, sometimes I feel that when I operate I know nothing, sometimes the market makes me doubt the concepts that I know, and that I apply a lot of Wyckoff analysis and in view of that I have looked for many Wyckoff configurations and despite all that the market does things that are not contained there, fundamental analysis is extremely important, in short-term trading you know that technical analysis with shapes, chart figures has seemed super efficient to me, it is very fulfilled, it is incredible and the theories of supports and resistances.

That is the parts people falls to understand how it works because they will think that immediately they funds their account and follow some instruction according to their mentor they would think profits comes immediately.
So, it's a choice to choose which one will be more better for them to follow up, so trading is just the major think there.

[bayu7adi]

Being a full-time trader is more than just spot trading. Staying only in spot trading isn’t always profitable, so you’ll eventually need to explore futures trading or even options. However, these come with high risks, and real knowledge is required to minimize losses and turn a profit.

IMO, as a full-time trader must also be supported by adequate talent and have extraordinary perseverance.... several times I saw people who decided to quit the profession of full-time traders when they had reached a dead end that made them think that trading was very difficult, most of them still persisted in asking basic things, while some others found it very difficult to understand the basic concept of trading so that they could not accept new knowledge....

So, some important things to master when deciding to become a full-time trader are a high level of understanding of the market and also expertise in managing finances...

[Vx1]

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?

Being a full-time trader is more than just spot trading. Staying only in spot trading isn’t always profitable, so you’ll eventually need to explore futures trading or even options. However, these come with high risks, and real knowledge is required to minimize losses and turn a profit.

Actually, cryptocurrency trading has many types, in general what we know is spot trading and future trading. But actually more than that, we can also do arbitrage, bridge and others. If we do become cryptocurrency trading as a full-time job, I'm sure this is not the only trade that is done by that person.