What is it that those street people say don't hate the player, hate the game peace be with you and your puny profits
!Please excuse me for now but I am going to fill my battery on the beach!" *********************************************** What on earth does this mean? I was on the beach in Santa Monica last week and no-one had any batteries. Surfboards yes. Maybe they were battery powered ones.
The answer is yes. I'm not the typical 50 y/o. I'm a bit of a bohemian and I've never lost my youthful edge. I've invested a lot of energy in learning my mind and I keep few secrets from myself.
Do conservative and methodical people tend to do better as traders in general? My goal would be to slowly grow my money, not to set records. An industrious person of average intelligence should be able to grow their investment at a rate of 10 - 20% annually, regardless of market fluctuations, with a few months of focused study. - Is this statement true or false? The above, if true, could be accomplished in a few hours of total time spread out over an eight hour period, five days per week. True or false.
I wouldn't have chimed in on this if that fraud and braggart apak (multiple aliases with little to nothing of value) hadn't added his less than 2 cents worth. This is like any other business in terms of time, planning, capitalization and effort. The reason most people fail is for the same reasons people fail at most new businesses. What attracts people is the very low barriers to entry, and the seeming ease with which money can be made - "seeming" being the operative word here. When I ws on the floor, no one made it in less then a year of standing there very day and all day, and most took more like two years. You either needed a part-time job or a working wife to tide yuo over in between - I was lucky to have both. In addition to the time the markets are actually open, you shuold plan on spending an equal amount of time doing pre-opening, and post-market analysis, keeping a journal, and reviewing each week over the weekend, each month at mnoth's end, and so on. Several of the veterans have great things to say - I'd agree in general with the poster who doesn't read things from people joining in the last year or so. Frankly, I can't think of a more DIScouraging place to try and learn than ET with all the outright fakes and people who don't, and haven't ever traded who now populate the site. A good suggestion was made in looking for the profitable traders. Most will not want to mentor or train directly, but use the Search Function to read their comments; many are open to the occassional general question about direction, resources they found helpful, etc. Best of luck the OP, and don't worry about being 50. You have experience and perspective that is always useful!
Conservative and methodical will work for yuo if that's the kind of person you are. Trading requires knowing yuorself - something most people do not know - and matching yuor appraoch to yuor particular personality and skill set. THis is one of the reasons mentoring doesn't work as well as people hope it will - you have to be much like yuor mentor in terms of temperment, risk appetite, etc. I think many would agree that while you can be helped tremendously by others - and I have had the very good fortune to have several here offer real help and insights I've benefitted immeasurably from in making my transition - you ultimately teach yuorself.
I will qualify my last two posts by saying that these are the things my experience has taught me, and of course, everyone's experience is different, so I can only comment from my prespective.
Don't bother with books, sites. Sit down and just watch the tape. Keep doing what works, stop doing what doesn't -- figure out the reasons why afterwards.