Any Day Trader Over the Age of 65?

[DHOHHI]

Quote from MAESTRO:

Who cares what she says! If you still have her around you are blessed! I learned to enjoy my wife's remarks and her little theories of "why we will have an up day tomorrow" . It's the part of my daily entertainment. She loves what I do and I love that she has no clue what it is! Life is beautiful!

MAESTRO

I'm your age - been at it going on 15 years. Beats the heck out of the old corporate grind where I put in plenty of 10+ hour days.

My wife was a broker for quite a few years so she understands the market. She hates trading but is happy I enjoy it and make enough $$$$ year in and year out to keep at it.

So many positives in trading - freedom and ability to set your own hours near the top.

 

[blackjack007]

do you guys over 50 find that your mental sharpness has declined and has adversely affected your trading?

 

[ammo]

your understanding of the game increases which is what you are constantly trying to figure out,you get fooled less often

 

[Johno]

Quote from ammo:

your understanding of the game increases which is what you are constantly trying to figure out,you get fooled less often

+1

There is no substitute for expierence !

Regards

Johno

 

[Johno]

Quote from bighog:

There is more to life than trading.

Seeking perfection will not produce more profits. Maybe ulcers. Stress motivates some, hinders others. Seek courage NOT perfection.

Faster chips and bigger hard drives will not produce more profits. We actually have reached the point where upgrading computers are at the point of diminishing returns. Windows XP still gets the job done as example, How old is that?

Scalping as a strategy can be an insanely profitable strat in the right hands compared to taking less trades per day. A persons own scalping strat can not be defined by others because there is no "single" definition outside of the pits, a pit local with membership is not the same as some retail guy claiming to be a scalper. Increasing size matters if you can handle it, the number of trades is not the answer. The strat and tactics matters.

Forget research, all the answers are out there in GOOGLE. What is not available on GOOGLE is how you as an individual improve your own performance...........if you are going to do any research..............RESEARCH YOURSELF.

The only problem with age, is remembering the things we used to do, like chasing skirts, letting her catch you, physical stuff. The advantage of age is you work less for more, you use your brain first, you avoid the scams and the impulses that were fun at a young age but wasteful and foolish when older and wiser. ( for you guys that only chased trailer park bimbos, the real sexy great chicks are the ones that are even smarter than you are......they are the ones that float your boat and they KNOW what they want, Bimbos are just seeking you as a meal ticket, that is no fun)

Another advantage of age for a trader is knowing the new blood will keep coming in because this game is such a fantastic draw to become rich...............that is what keeps the game going...........a steady flow of losers to keep throwing in their chips.

Older guys that have been around know this is a losers game. The key to winning a losers game is to find your niche and just milk it. If you try to defeat a losers game you will only defeat yourself.

Youth is great, do not waste it, the difference between most younger people and older people is the older people "have been there and done that." Do not fool yourself, the quality of life for everyone on this planet has been going downhill. Sure, some can improve their individual status but as a whole...........things are not as beautiful as a few decades ago. Many will not understand that,..................not yet anyway.

+1

Regards

Johno

 

[nokomisjeff]

Quote from ammo:

your understanding of the game increases which is what you are constantly trying to figure out,you get fooled less often

At 53, I'm much sharper than I was at 21. My mind works much faster and I can calculate odds much quicker than I could before the age of 30. I also have a better understanding of risk than I did back then, and my style has changed since I got out of the pit. However, I owe a lot of it to my exchange buddies who I've known for 20-30 years and we have a good support group. Guys whom are long term exchange members (20+ years) are so much smarter than the rest of the public. Successful exchange members also realize the necessity to fade the public for the most part.

 

[Surdo]

Quote from nokomisjeff:

Successful exchange members also realize the necessity to fade the public for the most part.

I agree with most of your post, however one does not need to be in the pits for 20 PLUS years to understand market psychology to profit consistantly.

 

[nokomisjeff]

Quote from Surdo:

I agree with most of your post, however one does not need to be in the pits for 20 PLUS years to understand market psychology to profit consistantly.

Perhaps, but time in the pits certainly did help.

I presume that you have spent considerable time in a pit to be able to make that broad statement without qualification or quantification.

The main advantage of an exchange membership is the ability to trade the inside market, lower transaction costs, lower vig, better information, and exchange support(can't say enough about that one). Still, I don't claim to understand market psychology, I just know how to trade, how to take a small loss instead of a big one. A proper defensive game is what the pits taught me, and I suspect that a strong defense is hard to learn on the retail side. Friends on the retail side have told me that it is also hard to find proper mentor-ship that an fellow members of an exchange can provide.

 

[patoo]

Quote from bighog:

......................
Youth is great, do not waste it, the difference between most younger people and older people is the older people "have been there and done that." Do not fool yourself, the quality of life for everyone on this planet has been going downhill. Sure, some can improve their individual status but as a whole...........things are not as beautiful as a few decades ago. Many will not understand that,..................not yet anyway.

Actually, for me youth was not great. With youth comes naivete, not understanding myself and basically not knowing how the world works.

I am pushing 70 and life was the shits 20 years ago. Even worse when I was 30.

So speak for urself Big!

 

[Johno]

Quote from nokomisjeff:

At 53, I'm much sharper than I was at 21. My mind works much faster and I can calculate odds much quicker than I could before the age of 30. I also have a better understanding of risk than I did back then, and my style has changed since I got out of the pit. However, I owe a lot of it to my exchange buddies who I've known for 20-30 years and we have a good support group. Guys whom are long term exchange members (20+ years) are so much smarter than the rest of the public. Successful exchange members also realize the necessity to fade the public for the most part.

My experience re my youth is very similar (53 next month) although no pits, I think that as I've gained knowledge I have learnt to focus on what is important rather than fleeting distractions such as greed, envy and not least skirt. Staying balanced is high on the agenda. With only casual friendships involved in trading it's not hard to visualize how much easier the journey may have been if I had access to the resources you found available. There has certainly been many wrong turns and dead end alleys along the way to the present. But still the journey continues! I look forward to the enlightenment more experience will reward me with!

Regards

Johno