Anyone else quit their job to trade crypto?

I never had a job in the first place.

But aside from some passive income I'm a...

> Fulltime professional cryptocurrency trader™

You can still make plenty of money in a bear market with the right strategy. I'm not talking about shorting.

Hope this is true, if so get fucked OP! You're delusional as fuck from base reality.

Did that email really need to be so long?

Your anxiety is palpable

>I'm sorry, I'm sorry, I can't, I can't

You could have explained the situation in a few lines and apologised. Instead, you've done that thing where people panic and just keep talking and talking - but in an email. Didn't you proof read this first and notice your hysterical tone?

I'm well aware of it. I think it's justified considering my overall reticence.

what creates passive income for you

>It has to be like this, sudden and irrevocable
You're not casting a spell or writing a poem, you're quitting a job
>I don't belong here
Dramatic much?
>I've quintupled my money in two months
Bully for you! Did you really need to say this?
>I don't know. It's not right. I'm not alright
No shit - you sound like you're having a mental breakdown
>thats a layer of dread and distraction I can't get past
Nice alliteration, but again this is not a poem

You could have just apologised, explained you have some other time commitments, apologised again, and left your contact email. Sure, it's a bit out of order at such notice but it surely can't be worse than this ridiculous email that, rather than apologising, is kind of insulting your employers and bragging about how much better you are at the same time

Sorry to go into such detailed analysis. I just woke up and this really annoyed me lol

Yeah but it was 1 AM and they're all women anyway.

I don't think it either brags about me nor insults them. It's just brutally honest. The mental breakdown aspect is intentional.

Fair enough, good luck with the cryptos

what are you holding at the moment?

what did you make your famous quintuple gains from?

Why did you even bother mentioning crypto user?

It's not that amazing. I started with $2000 cash (all that I had in the bank) and $2000 credit loan (nearing my limit) and put it into ETH at $30. I doubled my capital off that eventually (didn't really catch the 60-90 rise) and then bought LTC at 17 the day before Coinbase launched, which has been terrific for me although I could've played it a bit better, and now I just cautiously day-trade LTC/USD while holding fiat most of the time because I don't like the market at the moment.

So I've made just shy of $8000 (I cut myself a bit on the fall of LTC from 38), which is quintuple my initial cash and triple my capital, and that equates to about four months of wages. I'm aware that I'm on a short leash and I'll contact my agency and explain on Monday, hoping to get a new position somewhere.

They know. They've seen the charts on my screen that I pathetically try to click away from as they pass by. That woman (who sent the email in concern) called me asking what was wrong and I was candid about the market crashing and my prospects (I was in fiat) but I assured her I would finish before I left. I couldn't.

You do realize you'll have to pay taxes on the $8000?

No, sell them for cash through localbitcoins and use cash to buy food.

>he thinks people actually pay taxes on crypto gains

Not if I lose it all in a bad trade and have nothing to show for it.

That's pretty bold taking out a credit loan to buy ETH

How did you know? Or do you just have a gamblers mentality?

Surely $2000 was enough to get started?

Oh well, guess it paid off. I have 20 ETH I bought at $17. Is there any way I can trade on margin, up the risk and make more gains. I feel like I've been a bit of a pussy only gambling money I could afford to lose lol

Sure, you can use your 20 ETH as collateral on most sites, including Kraken and Bitfinex.

The shilling on Veeky Forums hit me just right and I had such low self-esteem I figured I had nothing to lose and my money would be better in that. I also saw the price rising rapidly before I could get the bank wires in on Monday. If I had only been in on Sunday, at $20, I would be up sooooooooooo much more.

Only other Veeky Forums-shilled coin I bought was POSW just before the breakout and I made about a 40% gain off that and got the fuck out. I laugh every time someone mentions they're still holding onto that garbage. I could've doubled my money but I played it badly (was distracted at work) and moved half my stash out as a hedge because I was concerned about the retarded withdrawal limit and being trapped there.

I did the same thing years ago. It still makes me cringe when I look back on it.

This can't be real.

Why isn't xtrabyte there, am I getting scammed?

Holy shit nice keke user

kek, at least you had a sense of humor about it

What is a good margin % for ETH? 10%?

So I invest $500 in ETH and leverage 10x (is this 10% or 90% margin? What is the term?)

If ETH drops 10%, I lose $500. If ETH gains 10%, I double my money, right?

Based on roughly following ETH the last few months it seems less likely it will drop by 10% than rise by 10%

Time to roll the dice?

I was making $87k per year too, and it took me a very long time to find a new one, because my old job was always brought up in interviews.

thats the spirit!

come back to whalepool talis
t. concerned xrp

Sentiment poisoning is real.

Not believing in ETH is the most dangerous attitude to have in crypto right now, and every time Felix posts some retarded bullshit I feel like shorting it on max leverage.

i wanna see you irl selling those coins

>e-erm its ok there are some erm fiat-papers missing, but h-have nice day

ETH is shit, dude

i make $2k/month at my wage slave job and have averaged about $12k/month over the last 2 months trading crypto, so I'm certainly considering it. However there's much else to consider, namely what a few bad months in a row could mean if i am unemployed, not to mention that taking money out of my crypto portfolio to live off of will mean less capital to work with to make more.
I think if i can consistently make at least 10k/month for the rest of the year i'll quit by the end of the year.

Don't bet against the Jews.

honestly, if you cant sustain yourself for 5 years, dont bother quitting.

best case: you can retire
worst case: 5 carefree years to find a good boss

>I laugh every time someone mentions they're still holding onto that garbage.
Fuck you. Holding is the correct tactics, you just need patience.

It depends what your strategy is. If you have a strategy that exploits a market inefficiency and gets you consistent returns then that could be something you could do full time.

If your strategy is "buy and hold" then you're betting your income on the crypto market being bullish.

that's a good point. my strategy is kind of a hybrid of the two. it is always profitable (so far) but sometimes i make a lot and sometimes i make very little (too little to sustain living off of should i get a bunch of bad months in a row).

Of course that's now, once I have enough capital I should be able to sustain myself off of the bad months too (here's hoping) I guess only time will tell.

you were taking care of family

Probably want to fuck some of his ex-coworkers

am about to... can make $200 a day which is more than my current job

>"only invest what you can afford to lose"
>meanwhile
>anons buying crypto with reverse mortgages
>anons quitting their jobs to trade crypto
>anons expecting this bull run to continue indefinitely
>anons not realizing that investing is basically a form of somewhat predictable gambling
Laughing out loud at the moment, family

No, I'm not stupid. I earn from my job, put in crypto from time to time, buy the dips and let it grow in my hardware wallet. Trading is for stupid money and gamblers

>Idiocy like this confirms that crypto is in a bubble. Just like people quit their jobs to flip houses in 2005.

Exactly, with the "new paradigm" shift you really should be cautious. We are entering bubble territory here.

>I'm aware that this is a bear market and I'm not in any positions. I've got at least a couple months to live on. I mostly trade USD pairs for ETH and LTC on GDAX.

This is not a bear market you stupid fuck. Look at this chart. What is "bear" about it?

Retards I swear. This is a bull run into a bubble.

If nobody has notticed from that email yet, OP is some heavy autist up in this shit.

He will an hero once we actually enter the next 3 year bear market

>You do realize you'll have to pay taxes on the $8000?

The whole point of cryptos is that you don't pay taxes on them, you gullible normie fool

Not if you slowly withdraw it over time to your bank account. The IRS will never notice. And if they ever do say anything, just say you were selling some personal items online for bitcoin.

It was a bear market yesterday and the day before.

Can you elaborate on your strategy? I've got 2k to play with and I would like to do the same.

Nope...I got a job to buy more crypto. I'm holding for the long term. Day trading seems like a bad idea for an only source of income. Diversify

Sorry to say it but you have majorly fucked up. I thought you would have put away at least $100,000 since you quintupled your money and quit your job. You barely have enough capital to gamble with let alone live off.

The biggest problem here is that you're not a trader, you got lucky twice in a row. Anyone can do that. You won't sustain these gains but you need to since you have so little saved.

Tldr get your job back, user.

My job paid about $2000 a month and I'm up $8000, currently playing with a stack of about $5500 on GDAX.

You must have a really exorbitant standard of living.

Lol HhahhahahhahahbabababhahahHahaahahahahahaahahahhahahahahahhahhahahahahahhahahahahahhahhahhahahahaahhaahahhaahhahahahaha

you are very dumb

You've got four months to live without making gains. If you makes losses you've got less time. And you will make losses at some point.

With $5500 you need to make 50% returns every month to be doing better than your old job. That's not going to happen.

You got lucky and let it go to your head and now you've put yourself in a bad position.

You didn't actually send that email did you?

you quit your job after making $8k on a lucky pump? Jesus dude

I look at it as just needing to make 2% a day through sensible all-in scalps and short-term trend trading on LTC.

What makes you think you can do that?

I'm improving. I represent 0.34% of the 30 day LTCUSD volume on GDAX, which is about $1.2mil at current price. Not bad for a stack that's $5k on average. I make hundreds of trades, all-in every time.

I've lost a lot but I'm learning a lot too.

pic

Also, LTC is so deliciously cheap that, at $29, every 29 cents is a percent.

This. OP has never written a professional email in his life. Clear, short and to the fucking point. Considering how much time he made people waste reading his mental breakdown I'm sure they'll be happy he's leaving.

>Considering how much time he made people waste reading his mental breakdown I'm sure they'll be happy he's leaving.

Well, yeah, I don't want them to be sad that I'm leaving. I actually tried quitting in person a week before but they concern trolled me into staying.

I think something like 20 people in the US claimed crypto on their returns.

Yeah the IRS is buttmad over it. Hopefully they'll be destroyed soon enough.

>I make hundreds of trades, all-in every time.
and what happens when LTC crashes (it will)?

I won't be in it when it does. That's why I trade. Everything will crash, inevitably.

Wew, its going to be a rough couple months.

so let's say you get out at the top and it goes down...and keeps going down...and keeps going down... where's your income coming from?

>I actually tried quitting in person a week before but they concern trolled me into staying.

wat

I'm starting to think you escaped an institution.

Don't you know how to read? He QUINTIPLED his money!!!

Billing office for a hospital where I worked as a temp, one of few males and certainly the only one under 30. So, yeah, kinda.

Falling knives.

The lower the price goes, the better gains to be had by scalping as well.

In a bull market? That must've taken a whole lot of skill.

He quit his job, so obviously it's skill. I'm actually rooting for him, hope he keeps us up to date on how it's working out.

alright mate good luck. your strategy differs from mine by a lot, doesn't mean it won't work though. I personally would have waited until I had made a lot more before i quit my job. shit happens.

how the fuck are you suppose to get high rewards without high risk

fuck the normiefag life. wagecelling is peak cuckoldry

god speed OP.

I've wanted to be out of this job for a very long time, and crypto just gave me some buffer and an excuse to do so. That and crypto is a full-time occupation in itself, and I can't focus on should-be-automated menial labor on a screen without my charts and prices. It has rewired my fucking brain.

I think I do need to focus more on trend trading than scalping in general. Last night I caught the LTC knife at 25.66, so damn well (lowest point was about 25.02), but I didn't hold it until now and kept doing stupid sells (at gain, but still) on the way up.

>guys I got this perfect tool for evading taxes
>it keeps everything in a public ledger such that there is a history of all the transactions ever made
>guys why're are you looking at me like that, the IRS would never create some sort of blockchain analyzer

Plenty of ways to break the chain by tumbling or buying an anonymous coin.

Do you use a vpn at all times when you go to exchanges?

he didnt even add Golem...

Oh brother. You are in for a rude awakening when you cash out your gains

>'ve wanted to be out of this job for a very long time, and crypto just gave me some buffer and an excuse to do so. That and crypto is a full-time occupation in itself, and I can't focus on should-be-automated menial labor on a screen without my charts and prices. It has rewired my fucking brain.
I feel ya mate, I've missed out on thousands while I'm slaving away in a warehouse making $100 a day. It's painful. But not as painful as I would imagine quitting my job 3 months before the entire crypto market plummets to the ground, which is a very real possibility.

holy shit. have fun in federal prison.

>sensible
>all-in

There are three currencies I believe in: ETH, LTC, and the US Dollar. Everything else is redundant.

Well good luck Talis. The discord will wait for your tales. There is a bet that you will :noose: in a few weeks btw

Look at the fucking chart again, in what galaxy does that count as a "bear market". Its fucking bull market bubble, that is what it is. Learn what bear markets are.

It was a bear market for two days.

Life moves pretty fast.

>two days

>bear market

Dude, getback2investopedia

>This job is actually costing me money right now
How the fuck is this even possible?

time is money