successful traders

I try to save as much as possible. Its always nice to have money to do things with when the opportunity arises. No need to go crazy and spend just for the sake of spending. I do have a weakness for nice Manhattan steakhouses though :D
 
Stockpile it, so that when trading goes bust I will have something to show for it.

Pay off my mortgage.

Wow, neither of those answers is very sexy. I do think about moving to Manhattan sometimes and spending it on drinking and girls. Then I snap out of it and take my dog for a walk.
 
I Didn't make my mass money in this industry, but another industry.

All saved collecting 5% interest / commercial real estate.


Always save until, you have a comfortable living income just from interest.

Then,

You are a player.


Live , flaunt, have fun, on free money. Thats how rich people do it and stay rich. Never on capital.
 
Where are you collecting 5% interest?

The best play is to invest until you have a comfortable income, why accept mediocre 5% returns on your money when they're are so many options out there for making good returns. A combination of strategies and markets offer the best risk/reward payoffs, and it's much greater than 5%.

In any event, congrats on saving enough to live off of the interest income.
 
Why on earth would you lock money away for 5 years at 5%.....that is a foolish trade, especially since you can get 4% in a money market, and not have that lock up period. Then you switch it over to the market to capture the year end rally and collect 12 pts, then another 3 in interest the rest of the year. NOt hard, not that risky (not over 5 years anyway), and a much better allocation of your resources.
 
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