What happened to the old traders

sprstpd said:
You have a point, and I would have totally agreed with you fifteen years ago. But external factors force you into altering your decision making. Do you really trust that your "number" will hold up with the Federal Reserve actively crushing your purchasing power? Do you really know how much money you need before you can abandon your trading career given all the current uncertainty in the world? Can you really retire when interest rates for savings accounts are 1% or less?
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Yes
8 figures
 
Whatever your number is, the wealthiest people tend to be business owners, so at some point when a number is hit, invest/join/run/start a business or buy real estate that will produce positive cash flow and you can still trade on (not daytrade) and increase your account with separate cash flows.
 
rallymode said:
I can't imagine anyone trading their own money not pulling back the risk significantly or giving up trading all together once they've reached their "number". There is so much more to life than wasting it in front of computer screens looking at numbers. Trading your own money isn't boring, regardless of what you hear on ET. Ask anyone who has earned their entire net worth from trading risking their own capital and get back to me. It's super stressful. Sooner or later, you start compromising your health for extra PnL that has no marginal utility. There is a thin line between passion or love and an addiction.

IMO, trading shouldn't be a life long choice, not even a career to be honest. You should make as much as you can as fast as you can, before your alpha disappears or health gets compromised. Just my 2 cents.
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Well,

Some trade not because they need to but because they want to.

Some don't need the trading profit to live.

Some would rather trade than play golf, fish, or travel.

Some love the challenge of trading, like playing chess, doing cross word puzzle....

But if you treat trading as a job, yes, you will quit after you hit the number and you will want to retire. If it is your passion, why quit?

to each his own. Best wishes.
 
Handle123 said:
....Times have changed radically on the forum, it use to be an exchange of ideas was first, and now it is an exchange of trash talk for most part....
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Noobs probably find this place a gold mine.
As one gains experience, and more and more finding their own trading niche, perhaps ET's technical content for them becomes less relevant.
I enjoy hearing others' opinions and get quite a few chuckles from the many humorous comments.
I feel ET is a far better web site now than in the earlier days, more features, heaps of new posts going on, I think Baron has done a marvelous job with ET.
 
themickey said:
Noobs probably find this place a gold mine.
As one gains experience, and more and more finding their own trading niche, perhaps ET's technical content for them becomes less relevant.
I enjoy hearing others' opinions and get quite a few chuckles from the many humorous comments.
I feel ET is a far better web site now than in the earlier days, more features, heaps of new posts going on, I think Baron has done a marvelous job with ET.
More...

LOL, I actually see it 180 degrees and go checking out old posts from very early 2000's, it was time periods traders actually more interested in trading than whining about where are the stats or your shouldn't post if you not going to share all the rules BS.

I really don't know if this helps out newbs as I think ET can be information overload. It all still lies on one's own shoulders of doing an insane about of back testing, study, reading. I think the earlier posts were more direct, folks would answer. And yes, I applaud Baron for having an outlet for us to discuss or try to discuss. Every few months I find something real good and add it to what I am doing, but again deeper into the caves I go.

what part of Aussie-land you reside?
 
Western Aust, Perth.
Originally from NZ, but been here nigh on 20 years.
Dual citizenship.
Have worked around Aust. a bit, NSW, QLD, NT, SA, VIC.
No trading for us today as it's ANZAC Day.
 
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