I'm not saying that is bad. However I think there are disadvantages at starting late. For one there's less creativity and an aged brain. And I said before, I consider my experience borders on luck. Maybe even divine intervention sometimes.junxu,
Many of us went that route but often we worked a little longer than 10-20 yrs, saved a little more than $200K. Many of us survived 2008.
One way to provide a safety net is to transition from full time employment to part time while increasing the time spend trading. You know what, one day we cut the cord and never looked back.
Best wishes,
How to work towards going full time
- Thread starter John9999
- Start date
I have issue with this one liner. Since older people tend to have slower brains, therefore they are more conservative and not bold.
Even if older people did have slower brains that has nothing to do with success in the markets. A glance at Forbes traders making the most on the year are mostly over 45. Maybe if your'e a scalper hand trading 200 RTs a day than a younger person is probably better suited in general. .
Older people in general do tend to be more conservative. However traders that started out young often report their largest gains they made came when they were older (50's-60s). For example: Marty Schwartz (pit bull) recently had his biggest winning year by a huge margin. He must be will into his 60's now.
When I was in my 30's I would puke out when the volatility was real high - these days I thrive in those conditions. I could see how an older person starting out trading could be to conservative - but those they grew older trading often get better as they age.
Older people in general do tend to be more conservative. However traders that started out young often report their largest gains they made came when they were older (50's-60s). For example: Marty Schwartz (pit bull) recently had his biggest winning year by a huge margin. He must be will into his 60's now.
When I was in my 30's I would puke out when the volatility was real high - these days I thrive in those conditions. I could see how an older person starting out trading could be to conservative - but those they grew older trading often get better as they age.
This guy included photos in his reply and showed what he says is what he does and some of you give him hard time.I don't get it
I happen to work very hard to support my family and am very proud of it! Wealth comes in many different forms so be careful karma can be a bitch sometimes
There is the fundamental problem, to anyone who puts in more effort for the same or less return it is seen as a superiority complex. Gloating is "I have this you don't", which is why we were going to open it up to prop, and that's where the problems start.
People want it for free, have no experience of what it really takes, and those who have made a living out of it don't want people being successful in one month where it took them 10yrs. You can buy your way in to an edge, however won't be able to afford it, and will be distracted by those who say it doesn't work that way.
And that is an honorable trait, however you don't know things like your value to society is 1/100th of your output, paying any tax rate above 15-20% and you will receive less out than you put in. Effectively you will take an 80% haircut on your effort, wealth is working less for the same net result leaving you time to do other things.
Debt is there to make sure that never happens, I am truly one of the most disliked people around. I know how to play in the backyard of the wealthy, pay the rates of the day to day workers, and keep the capital to myself because I have no debt, but the dealbreaker, we have integrated that knowledge in to a fintech architecture and strategy and are happy to spread the knowledge.
If you think that access is going to come for free, while we're fighting off everyone doing crazy things like turning down $10,000s of license fees for tech to make our launch simpler just so we absorb the liability, you have a lot to learn.
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Often misquoted.
“A jack of all trades is a master of none, but oftentimes better than a master of one.”
Folks, take note. TDMA has spent at least six years and probably more refining his competitive advantage. Trading is like any business in that you need to know your competition and know what competitive advantage you can bring to the table. If you can't articulate and demonstrate your competitive advantage, "fulltime trading" is going to be rough.