I do both. You must invest before you trade. Ideally, trading is after you retire and need something to do. To be a professional trader and believe me I have tried several times, is hard as hell unless you are rich already or have a passive income business. Multiple sources of income is heaven.
Do you trade for an income or for a compound effect?
- Thread starter danielc1
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When you're retired you won't want to trade, well not daytrade.
Who wants to be slave again when retired?
Trading is for young people full of enthusiasm and energy bursting out of them.
When one gets to retirement age, the novelty of endless movement subsides.
I trade and retired but the, way I do it, no andenelin required, only hit the buy/sell button maybe once every couple days and its not daytrading, can place a trade then totally disengage from the outcome.
Like the young Turks on Reddit/Robinhood? I watch that site and it is full of posts and energy and lost money.
Young people should work, explore... but trading? Very few can make it unless they work for a trading desk and even there you see them blow out. I disagree with your premise. What's your hobby as a retired person? I do not golf or travel (I have 2 cats and a daughter in college) what am I suppose to do in the morning? I do not garden (bad back and feet), I swim but I cannot do that a whole day...
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My wife.
Aquaponics
Gardening herbs
Raise tadpoles / frogs
Design fishing equipment (type of yachts which take fishing line offshore in a breeze plus another different variation which works in a moving current / rivers / streams
Electric mountain bike
Writing algos but that's more or less perfected now for my needs.
Itching to go do some more travel, I own a large RV.
Listening to all my mates on ET chatting and having fun.
Well, I do have a publishing business and am getting more active on social media (Twitter) and I also bike. My publishing business is very little work. November-Jan I find some newly released public domain, see if it would sell and then I publish it. Royalty for life and for my daughter is set up this way. (royalty is owner life + 70). I am interested in RVing...but I yet to rent one.
What do your algos trade?
What do your algos trade?
ASX long stocks only, very heavily filtered.
Objectives change over time. Compounding is absolute key, you don't want to eat your 'children'. I personally always thought it is best to focus first on compounding, and when compounding results in larger amounts one can use for example 10% of yearly profits for 'fun'. Or, when having a job aside, you can spend 100% of your income instead of saving some of it.
It always looks wise to save and don't spend, but after years I have to disagree somewhat with that view. Every age should be lived, and years cannot be lived again. Having money (and thus possibilities) in your twenties is different compared with in your thirties or fourties. So it is somewhat of a balancing act.
Last, some things are not that 'expensive' as you think. Suppose you have a crack for flat red cars, you don't need to save the amount in the pricelist. After six months the novelty dissapears, so 'renting' for six months is often a cheaper option. I know this sounds somewhat simplistic, but your possibilities really expand if you look at it this way.
It always looks wise to save and don't spend, but after years I have to disagree somewhat with that view. Every age should be lived, and years cannot be lived again. Having money (and thus possibilities) in your twenties is different compared with in your thirties or fourties. So it is somewhat of a balancing act.
Last, some things are not that 'expensive' as you think. Suppose you have a crack for flat red cars, you don't need to save the amount in the pricelist. After six months the novelty dissapears, so 'renting' for six months is often a cheaper option. I know this sounds somewhat simplistic, but your possibilities really expand if you look at it this way.
