Risk Aversion / Confidence

>>3182683
>got lucky with crypto, made 45%
> I have $10,000
> quitting my day job
> just going for it
OP's last words.

>50 miles on my vehicle every day commuting
Move or get a new job.

>>3182769

I mean, you summed up my dilemma there.

That's the risk.

>>3182769

>get a new job

Already working on it.

>*DO NOT* quit your job for Crypto.
>*DO NOT* invest your life savings in Crypto.

Please talk to somebody; remorse over a missed investment should not dominate your thinking. Keep your job, and plow 100% of your paychecks (after costs) in if you're feeling super gung-ho. Don't gamble everything; this shit can fall by 80%, you just happened to be participating in the best month ever. You have too little experience to see that and the big picture.

You just happened to jump into the market at a time when it was a very profitable time for everyone. You got lucky. Do not allow yourself to believe you will keep this up. There have been many people in many situations similar to yours where they had some luck int he beginning, went in with more money/time/energy than was healthy for them, and now they're homeless. Don't be one of them. Slow and steady wins the day (in the end). You still have some decades of life left, don't gamble a stable financial life away just cuz you got lucky once.

No you idiot. Dont try to daytrade crypto as a job. Its the most miserable soul sucking thing and its basically fucking gambling.

Def put most of your savings into it if thats what you want, but look at it as a long term HODL. You shouldnt be cashing out every chance you get

>>3182816

I'm not going to end up homeless regardless. Besides my $10k savings, I own other assets worth about $15000 and have an additional $1k or so of emergency cash. Not to mention another source of income.

It's really easy for me to get a new job if I need one, because the industry I'm currently working in is greedy as fuck and always hiring poor chumps like me to grind up and spit out.

>>3182873
>>3182910

But I suppose this is the shit I needed to hear.

I'm not convinced it could be more miserable or soul sucking than selling insurance, but there is more risk. At least half of my pay is salary, and only the other half is gambling (commission).

>>3182946
Fuck around with 1k you faggot your FOMO is showing...

>>3182683

you are experiencing what is colloquially referred to as FOMO.

do not let it make you go all in and quit your job. lololol

>>3182990

You're probably right. I'll wait for inevitable dip that happens every week or two and dump another $750-1000 in and see where it goes.

>>3182946
>I'm not convinced it could be more miserable or soul sucking than selling insurance, but there is more risk.

You think about it all the time, you start sleeping less, the less you sleep the more mistakes you make, the more mistakes you make the more you want to recoup your losses fast, the more you do that the more mistakes you make and the less you sleep and so on and so forth until you lose everything and kill yourself

>>3182946
You should have a bank account with savings that cover 6 months of your current life expenses, at LEAST. I doubt $26k covers that (much less $16k if you do the stupid thing and gamble that $10k into crypto)

If you want maximum life happiness gains, then do this: take an amount of money that you wouldn't miss if you lost it all today. Put that money into a diversified portfolio of crypto's that are likely to be profitable for the next couple of years. Then HODL and back off, and focus your time and mental energy into activities that actually improve your quality of life (family, finding a better job if you hate your current one, and physical activity to stay healthy). I cannot imagine that daytrading would make most people happy. it seems like a very stressful activity and the chances of succes are minimal. Sure we all see that guy showing his 100k gains on this anonymous liberian basket weaving internet forum board but for each guy like that there's a dozen that threw their life savings away. it's basically gambling.

But oh what am i doing, preaching on /biz/... I guess i should just shut up already.

but think about what i said. please.

>>3183088
>>3183185

Don't worry, I'm thinking about it pretty hard. Which is why I'm blogging here instead of telling my boss I'm out.

What you described is what I plan on doing anyway.

I'm definitely suffering some FOMO. Making it worse is the fact that my wife is literally encouraging me to do it.

>>3183185
>You should have a bank account with savings that cover 6 months of your current life expenses, at LEAST. I doubt $26k covers that
if youre single w/o kids and dont live in a big city you can survive for 6 months on fuckton less then 26k unless you have a shitload of unnecessary expenses

>>3183537

Hell I'm married, no kids, and sublet a room out.

I can carry my share of all expenses with ~$1200/mo pretty comfortably.

>>3182683
Making a couple simple trades here and there when I could (maybe 10 total), I've made about 45% gains during that time. I have $10,000 in my savings account. If I had put $10k in, instead of $250, I could withdraw $4000 today of pure profit while leaving $10k USD worth in crypto.

I'm even a bigger noob than you. Could you tell what those trades were? How did you learn to trade successfully?

>>3183615
srry, forgot the '>'

>Making a couple simple trades here and there when I could (maybe 10 total), I've made about 45% gains during that time. I have $10,000 in my savings account. If I had put $10k in, instead of $250, I could withdraw $4000 today of pure profit while leaving $10k USD worth in crypto.

Don't want to mistake people with thinking that these are my own words.

>>3183341
I was describing daytrading, when you start doing it you think about it all the time and the death spiral ensues

>>3183615

>Could you tell what those trades were? How did you learn to trade successfully?

I split my stack up between BTC, ETH, and LTC in the beginning.

Then I traded into IOTA, XMR, XRP, FUCK.

FUCK was my only big mistake, literally fell for a shitcoin pump my first day. It won't happen again.

I made a few trades on BTC pairs of XMR/XRP, and held LTC / BTC.

I never sold anything at a loss, even when it was down.

>>3183649

I can see how that would happen. Too easy to get greedy.