I thought this was an excellent post. You've imparted some important information that should be read and considered. I also don't think that everyone your young age has learned some of these lessons. Reminds me of that old story of the young bull and the old bull standing at the top of a hill, looking down on a herd of cows. The young bull says: "Let's run down the hill and screw one of those cows!". The old bull replies "Why don't we just walk down the hill, and screw the whole herd". Anyway, good post. OldTrader Turned 62 in late June.
19 years old options trader. First started trading options in FEB 07. I used to be a stock trader and investor. I started "investing" at 11 years old. First stock I picked was found in the newspaper's stock section. A company named Sedna Corp. (not traded anymore). I bought the stock because it was the cheapest one with the most daily volume (at least I understood the importance of liquidity back then ). I made a huge profit in terms of percentage --of course. This was my beginner's luck which got me zealous about the financial markets. After that first lucky trade, I thought I was the king. Soon enough, however, I got hammered with my other investments... very predictable indeed . Started studying TA at 15. I got more serious about trading. Made big bucks with the gold rally in summer 06. Began studying options in fall 06/winter 07 and fell in love with this financial instrument. Now here I am. Currently reading about the bond and money markets. Starting University this coming semester. Finance Major.
I don't feel old (age in early 40's) but I do feel like I've been involved in the markets for a very long time. My step-father was a floor trader and as a teen I would help him out a lot in his studies of the markets at home. In fact, my allowance was tied to it and he paid me well. Further, I studied the markets for many years prior to placing my first trade. Traded many different futures instruments and have experienced many different market environments. Now that I have my varsity letters... I feel like its a great job as a retail trader from home with nice benefits (family). It's much nicer now in comparison to past years when trading was much more stressful especially just prior to the big bull of the 90's. By the way, have you ever read about those people that wins the multi-million dollar lotteries and saids they will continue working. I use to laugh at that because I thought those people were nuts to continue working. Yet, the more I think about it...if I won the lottery... I'll be back in the home office the next day and ready to trade...with more size of course along with blue prints of new things I want built. Mark (a.k.a. NihabaAshi) Japanese Candlestick term
I am the oldest 33 year old daytrader so far this year. It's been frustrating, but making some progress. Don't give up, stay sharp. G.
Eventuallly you find youself staring at the screen thinking 'when did that happen?' Daytrading is like being a commission only telemarketer, Daily timeframe is like being a sales manager who just sits there with his hands clasped across his belly racking up the override. In aother words you never leave the frontline trenches.