Can you still day trade as you get older?

Discussion in 'Professional Trading' started by gnom, Jan 31, 2010.

  1. gnom


    Are there any profitable traders in their 50th, 60th? I'm talking about scalpers, traders who trade 500K+ shares a day. Can it still be done as we get older? What is the exit strategy for this business?

    Curios what Red Ink, Lescor, Dustin and others think.
  2. I knew a guy that was 82 and traded his ass off. Ran a Fund up in Orange County.

  3. 64 years old. Still going strong. I might not be able to think as quickly as those in their 20's any more, but I use my 35 or so years of experience to make up for that. Exit strategy?? When the Angels come for me I'll quit, if they don't let me take my computer with me, that is!!
  4. pspr


    Depends upon how many brain cells you killed throughout your life. I killed quite a few myself in my 30's but then I started with a lot! :D
  5. That is one of the reasons I got into trading business. Learn it while young, trade even in death bed.:)
  6. gnom


    Are you trading 1000s of shares daily or mostly swing trading?

  7. Futures only.
  8. I just turned 50. Don't know if I qualify as your "scalper". Day trade I do, but far less than 500K shares/day.

    I want to keep doing this until I sit on a wheel chair. My eyes may be blurry and reaction slower. I will make up for it with many more years of experience. I will hire junior traders to work for me.

    Exit strategy: Grow. Lead a team to trade for you so you don't have to do all the grunt works.

  9. Most i know who are in that cat are done with their day by noon.
  10. They will have to pry the mouse from my dead hand. I think age makes you a much better trader. More patient and able to see the big picture of why you trade in the first place. When I was younger, I focused on how much I made in a week. Now, all I care about is making sure I am still in the game in 5 years. I have shifted from looking for gains to managing risk and being consistent.
    #10     Jan 31, 2010