I quit derivative trading after a year of full-time involvement, and in this blog, I’ll break down the five main reasons behind my decision. But before we dive into that, let me give you a peek into how I ventured into the world of trading crypto derivatives.
Starting in 2018, I was deeply immersed in crypto communities, earning crypto through my blogs, and collaborating on blockchain-based projects. My curiosity about blockchain tech led me to take online courses and explore the hype surrounding it. This period was a turning point in my life, as it opened my eyes to the significance of Bitcoin, blockchain technology, and more.
Yet, there were still two things that baffled me:
- How could people sustain themselves using their crypto holdings?
- What did terms like “Short on BTC” and “Long ETH” even mean?
A quick Google search clarified the definitions of “Short” and “Long” in trading, and that’s when I realized the door to a whole new world had swung wide open. Little did I know that this newfound interest would guide me into the intricate world of financial markets!
I started testing the waters by trading with my crypto holdings, gradually familiarizing myself with the ins and outs of the stock market. It was 2019, a year when everyone was buzzing about the upcoming bull market, and I was determined to see it all unfold.
At that point, I went all-in on trading, which meant spending the majority of my time on Twitter and TradingView. To clarify, I was exclusively using crypto earned from my blogs, with no fiat transactions involved. Over the course of a year, I immersed myself in the technology, constantly staying updated on industry developments.
We’re talking about a 24/7 market, buzzing with innovation and people creating all sorts of intriguing products and services. It was both exhilarating and exhausting, and while it kept me entertained, it also led me down the path of sleep deprivation. However, after a year, I made a conscious decision to put an end to it altogether.
But before I get into the reasons behind my decision, it’s essential to note that:
This blog doesn’t offer financial advice. I’m simply sharing my personal experiences!
During my full-time trading stint, I had to set aside several projects in content creation and marketing. One of my primary reasons for calling it quits was to refocus on honing my technical skillset.
1. Nurturing Personal Skills and Talents
I found greater satisfaction in enhancing my personal skillset and honing my soft skills. I initially ventured into Inbound marketing due to my love for content marketing. It’s a versatile field that has inspired me to go deeper into digital marketing. Witnessing a brand’s growth and understanding how humans interact with information has been utterly fascinating.
Isn’t it incredible how a video or blog can address your problems and motivate you to take action? I thrive on the challenges in this field and devising creative solutions to overcome them.
What’s more, nurturing my personal talents felt more rewarding in the long run. While I was fully absorbed in trading and learning about blockchain, I had to put many of my personal goals in content marketing on hold.
Although I was making money through market moves, I was making decisions based on assumptions all day long. That’s essentially the essence of trading, and I didn’t envision myself doing that for the rest of my life.
This leads me to my next point: I was more intrigued by experiencing the technology as it evolved, understanding the changes it brought, and sharing this knowledge with the world.
2. Adapting Blockchain into Daily Life
Trading was just one way to unravel the mysteries of cryptocurrencies. I was particularly impressed by the creation of Bitcoin and its economic significance. It was a real eye-opener regarding my financial literacy!
Additionally, blockchain technology is a subject that never ceases to inspire. Being relatively new, it’s even more thrilling to experience it through real-time products and services. We’re essentially pioneers in integrating blockchain into our daily lives, in real-time. How cool is that?
It’s like reliving the transformation from handwritten letters to emails!
Now, speaking of handwritten letters, my next point revolves around how trading affected my relationships.
3. Human Relationships Are Priceless
Every job comes with its fair share of stress and challenges, but trading brought a level of stress associated with the uncertainty and the possibility of losing everything. It consistently distracted me from spending quality time with friends and family.
It didn’t matter whether I was actively trading or not; my mind was always preoccupied. I was perpetually glued to Twitter or Discord, following conversations and updates. Over time, the impact became more pronounced, especially as I saw my parents aging and my nephews growing up. It prompted a shift in my mindset.
More than the amount of money I made, the way it was made became my primary concern. If it’s all about money for the future, but your loved ones aren’t a part of that future, it’s rather pointless. This realization was a gradual process, and coming to terms with it wasn’t easy.
I was also becoming increasingly isolated and physically unhealthy due to my lifestyle.
4. Health, Including Mental Health, Matters the Most
The crypto market operates around the clock, with the most activity happening during the night in India. To cope with the pressure of keeping up with community feeds and Twitter threads, I resorted to late-night eating.
Hacks, policy changes, outrages, and dramatic acquisitions were commonplace. Remember the time when Obama and numerous other Twitter profiles were hacked, and a tweet went out promising to double your Bitcoin? It was fascinating to follow these real-time events.
However, when such occurrences became a daily routine, it began to take a toll on my mental state and physical health.
Needless to say, these stimuli were incredibly addictive and kept me glued to my desk. I soon found myself in poor health and finally initiated my workout routine, which significantly aided in my transition to better mental and physical health.
I finally understood why many instructors emphasize the importance of the mind and meditation in trading courses.
5. HODL for Long-Term Wealth Creation
The ultimate solution to the demands of life was long-term wealth creation. This process made more sense to me for achieving a balanced life. It’s all about investing in assets you believe in for the long term, with the aim of creating generational wealth.
This approach not only yields excellent returns but also brings peace of mind. I now take pleasure in learning about new projects, not concerning myself with how their crypto performs in the market. I also appreciate the tranquility of investing and letting go. Additionally, I sometimes get to work on these projects using my personal skillset.
One of the best experiences I had shortly after quitting derivative trading was working with a crypto exchange. It was an incredible opportunity to educate people about crypto and blockchain technology. I gained a wealth of knowledge about how mass media operates and its influence on investors’ mindsets.
Before I conclude this blog, I want to emphasize that learning derivative trading and gaining insights into the intricacies of financial markets were some of the best decisions I made in 2018. Understanding how institutions generate income and having that skillset in my arsenal instills confidence that I can return to it at any time.
For those astonished by the hefty profits in this space, I recommend delving into financial markets, perhaps starting from the traditional investment perspective of the stock market. It’ll provide you with the fundamentals and enable you to comprehend how the crypto market functions and the revolutionary changes brought about by blockchain technology.
