skip to Main Content
TRADING CRYPTO PART TIME JOB

TRADING CRYPTO PART TIME JOB

This is a short article I thought would be useful for anyone who wants to trade crypto but think they need to be 100% on it or that its probably better that way, just remember that capital preservation is the most important thing when it comes to trading.

How I manage to trade crypto part time

Going full time on trading is not an easy thing and many traders advice to start part time and have a job that you can use as main income, I have been on crypto since early 2017 and have gone through many stages in the crypto market.

-Mining: had a 80 GPU Nvidia 1070 mining farm producing at peak $7k raw before expenses
-Masternodes: did a lot of money buying pre sales and obscure masternode coins and getting rewards on a daily bases
-Investing: buying coins for long mid and long term hold
-Trading Automation: trading bots, trailing, altcoin bot, most very profitable at a slow pace

But for the past two years I have been more focus on manually trade a portion of my portfolio and there are sometimes I hate to trade purely because of all the stress during certain situations like a bad entry or an event that affects the trade like a hack or even bad news for the coin Im trading, for all this stress that you are going to generate and the time you need to invest to learn how to trade is probably best to do it part time.

Here are some of the pros and cons of trading as a side job
Pro:
– If you master your time and the art of trading extra income obvious
– You are not 100% dependent on your trading income
– If you are doing well trading you can inject more capital and size up
– You are not 24hr7 trading like most crypto traders that want to be 100% dependent of crypto trading, you have time blank your mind and get distracted with regular life scenario

Cons:
– You will probably have to do the heavy lifting after getting home from work, stay late reviewing the tape, looking for trading opportunities for the next day
– Weekends you will probably want to catch up and it will also take form your free time
– When doing all this homework you will probably be tired but most of the time is the only time you have to do this things in order to stay on top of the market

Things to avoid
– NO PAID GROUPS or TRADING COURSES, most are trash and you wont learn anything
– Dont trade with money you cant afford too loose, its a classic on crypto but its the true because eventually you will loose, probably not all if you master risk management but its better that you dont trade with money you depend on.
– NO SIGNALS, Dont waste your money buying signal service, you need to understand when to get in and when to exit a trade.

This are some points that come to my mind since I started trading on spot and futures, some things you will need to do and some that you will have to avoid but the one thing that really has help me on this year to finally been green on my trading is “Learn How To Loose” , in life nobody teach you how to loose how to accept that you have lost, even when you play collective sports you may learn part of it but its very different doing it for fun than doing something for a profit.

My steps on how to loose:
– Once you learn how to do technical analysis you will learn what is a spot loss and your take profit, stop loss is a golden rule because take profit varies depending on your goals and style of trading but you cant avoid stop loss, its better to loose part of your capital and keep part of it so you can rebuild
– If you loose all your capital there is nothing to rebuild with, stay in the game
– How much can you tolerate to loose, if on average you make from 10% to 25% per trade then you can probably afford to loose 15% on a bad trade but size should be the same, because if you loose 15% on a trade then you can recover it with one or two good trades.
– NOT THE BEST TRADERS WIN EVERY TRADE, if you are just starting, I still consider myself someone who is starting, WHY do you think there is not a chance you will loose trades or have a bad day or week or even a bad month.

This is mostly I have learn how to loose in trading, there will be days you wont find a trade, there will be a day where you take one or two bad trades and there will be days that all you need is minutes to take a good trade close it and be done for the day.

In trading for me technical analysis is the easy part, because its textbook, by watching the tape everyday you will catch patterns in seconds to identify trades but its the mind, that psychological aspect that you need to dominate, to control your emotions before, during and after a trade and to identify sentiment on the market when there is fear and you short to the ground a coin or when greed kicks on a bullish scenario and you go long and left behind bears, trading is not about being fair, whats right if long or short, or even being right, trading is about probabilities and have the ability to identify the direction of the market, its not about your thoughts, politics, news, what you think should happen or even been rational because under certain circumstances “markets can stay longer irrational than you can stay solvent”

My intention is not to teach you how to trade because gain I dont consider myself a trader or a teacher, I dont have the success, time or experience to do so, Im just sharing my thoughts and experience of the last two years trading spot and futures.

Hope you found this useful, good luck, thanks

πŸ‘‡πŸ»Consider Supporting the channel by using my affiliate linksπŸ‘‡πŸ»

TO START BUYING ALT COINS – CLICK HERE

CLICK HERE - RENT CHEAP GOOD SERVER - CLICK HERE

LINKS:
β–Ί Start Trading: https://bit.ly/startaltcointrading
β–Ί Start Mining: http://bit.ly/2LPfJly
β–Ί HIVE CASINO: http://bit.ly/KRYPTOGAMERS

More of my content
LBRY: https://lbry.tv/@cryptoxicate
Hive: https://peakd.com/@cryptoxicate/posts
Steemit: https://steemit.com/@cryptoxicate/posts
Publish0x: https://www.publish0x.com/@CRYPTOXICATE
Cent.co: https://beta.cent.co/@cryptox1cate
Youtube: http://bit.ly/CRYPTOXICATEYT
Website: https://Cryptoxicate.com

FREE COPYRIGHT MUSIC
Music: https://bit.ly/GREATCREATORMUSIC

.

.

DISCLAIMER: The information Cryptoxicate.com or its media channels not limited to Twitter, Telegram, Discord, Instagram, Facebook, or any upcoming social media platform or internet search engine results is not financial advice. This information is for informational and entertainment purposes only. Any information provided are only and simple thoughts and opinions, you must not follow any of this thoughts and look for a professional financial advisor since we are not any type of advisors. Dont not get into crypto currencies since its a high risk investment if you do not have the proper guidance and any investment that you made is your own responsibility and no one else.

#bitcoinhalving #bitcoin #ethereum #cryptocurrency #blockchain #crypto #tron #nuls #hive #binance

How useful was this post?

Click on a star to rate it!

Average rating 0 / 5. Vote count: 0

No votes so far! Be the first to rate this post.

bitcoin
Bitcoin (BTC)
$
41,519.00
steem
Steem (STEEM)
$
0.475370
hive
Hive (HIVE)
$
0.420660
lbry-credits
LBRY Credits (LBC)
$
0.029633
ethereum
Ethereum (ETH)
$
2,433.79
celsius-degree-token
Celsius Network (CEL)
$
6.14
uniswap
Uniswap (UNI)
$
21.09
icon
ICON (ICX)
$
0.969559
chainlink
Chainlink (LINK)
$
21.68
Back To Top