I am tight, aggressive. I don't feel I always have to be in the market. I miss alot of big gains by doing this, but I also miss a lot of big losses. I wait for the setup that I want, then I hit it hard. It was one of the hardest lessons I have learned. I would see mediocre returns that were usually caused by one or two bad trades. I got tight, aggressive then really started to see the results.
How many here started in their 40's?
- Thread starter ADONAI1ST
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I am tight, aggressive. I don't feel I always have to be in the market. I miss alot of big gains by doing this, but I also miss a lot of big losses. I wait for the setup that I want, then I hit it hard. It was one of the hardest lessons I have learned. I would see mediocre returns that were usually caused by one or two bad trades. I got tight, aggressive then really started to see the results.
What kind of debt did you rack up?
iam just saying in general not just in trading, and its just my opinion, i believe its easier to make more than save more, there is a limit to how much u can save,
Robert Morse
Sponsor
It is a valid concern with hedge funds and CPOs. You have to do more due diligence with these partnerships and it is very important to look into who they use as their auditor and admin. That and the character of the managers are your protection. If you are someone that just can't get past that, there are always SMA. That way you see everything T+1 and can stop their trading at anytime. They also have no access to your cash except for their monthly bill.
Some credit card and car loan debt during med school and residency. Paid it off in about 3 or 4 years after I finished. Fortunately no astronomical school loans.
I did the CTA thing back in the 90s for couple years, I was profitable for my clients, but they call you more when you are ahead with constant fears of losing it, just way too much stress for me and ended that. And the more I thought about it, why work so many hours for others, me getting 20% when I can make 100%.
I started when I was 21, totally different way of being in 1978, no home PC's, more of graph paper and pencil-Newspaper. Fees were outrageous at $125 for 100 shares, LOL, those were the days.
I am nearly 100% invested into me, meaning long term usually stays in the middle of longs/shorts stocks. Commodities long term am always going against the crowd in beginning, rode Indexes/hedged up and selling new contract highs.
@wildchild has it right IMO, be tight aggressive and other times let it go by. When a pattern looks too good to be true, be prepared for the worst.
I started when I was 21, totally different way of being in 1978, no home PC's, more of graph paper and pencil-Newspaper. Fees were outrageous at $125 for 100 shares, LOL, those were the days.
I am nearly 100% invested into me, meaning long term usually stays in the middle of longs/shorts stocks. Commodities long term am always going against the crowd in beginning, rode Indexes/hedged up and selling new contract highs.
@wildchild has it right IMO, be tight aggressive and other times let it go by. When a pattern looks too good to be true, be prepared for the worst.
i heard as u said that managing OPM is so much headache from their calls to the point they dont respect the skills the manager has and keep interfering
I put my first option trade on at about 30 in the early 90's. Lost early in my career, had brief periods of profitability, and at the ripe old age of 52 I re-entered prop trading with a new mindset. Making more money trading over the last two years than my mechanical engineering job, but prefer to stay working until I age out, and my kids are out of college.
In my opinion, testosterone is your worst enemy in trading - it just feeds your ego. I have gotten better as I have aged, and as I continue doing more research, I will continue to adapt and improve.
In my opinion, testosterone is your worst enemy in trading - it just feeds your ego. I have gotten better as I have aged, and as I continue doing more research, I will continue to adapt and improve.
Depends on how you define success. For me it was being able to pay the bills, have the freedom to do as I pleased most days and know that I was in good shape financially. I started at age 40 in 1996 and have scaled back to trading less these days but it's still my sole source of income.