The reason that I say "retired" is more to avoid talking shop with people who are clueless and are trying to get a tip, advice, recomendation, valuation and a host of other related issues that I just do not care to talk about. As for giving back to the market some of your profits. It took me a couple of lessons to understand that to cut the loss is the best long term solutions. In my case it just was not worth it, smocking a pack or two of cigs and watching the market all night and then making a donation of 10K at the open. Last time I bought cig. was on Dec. of 2010 and have yet to open them. BTW before summer my wife made a boo boo and told one of her friends what I do for a living. Long story short I had a 2 hour conversation with the ladie's hubby about the market. It was like a bad dream I could not awake myself from. Never again! LOL
Please be advised that you are not getting paid by the hour. You are getting paid for performance. And if that means that you refuse to give back your morning's gains in thin, choppy, afternoon trade - then so be it. Welcome to the world of rational, adult decisions. Trading is the ultimate accountability game.
I am on my third year as a full time day trader. Very fortunate to be profitable; can never imagine being rich given my tendencies toward risk aversion. I have a similar situation as the original poster but with a bit of a twist. I retired after 22 years as an Army Aviator. Most who know me are familiar with that aspect of my past and assume I live on my military retirement. But I retired from the National Guard and won't see that 500 bucks a month (or so) for many years to come. But still, no questions about what I do all day, just a lot of questions about my trips to the sandbox and odd behaviors to relate to my "experiences". Now, that can get weird. My problem isn't so much one of what to do or how to explain, rather to find some way to spend my time such that I feel like I contribute something besides commissions and fees. I provide for my family, and of course that is important (just ask the wife!) but the trading existence has a somewhat selfish feeling for the lack of a better word. So, I volunteer. Mostly with the VA but with local school districts as well. There is a world full of kids who have little to no parental involvement in their life and just a little time spent with their reading and math skills can make a big difference in how well they perform and see themselves in the big picture. I'm no teacher (Army IPs do not teach; we evaluate ) but it is the attention that seems to matter the most for the kids with whom I have worked. As for the VA? I was most fortunate in that over the course of 22 years and a few deployments, not a scratch. But there are so many guys, young and battered, that can use a sounding board, a drive to rehab, a lunch buddy, a whatever. There is still a population of Vietnam era vets that can use a hand as well. Hell, I even have the honor of hearing stories from WWII vets; some over 90. These are the places I go and the things I do to spend time and find a sense of contribution. Makes me feel useful. Doesn't work for everyone for sure, but it's an idea. Schools, hospitals, VA centers; they can almost always use volunteers.
"I'm in sales" is a good "what do you do" answer. If they ask more, I sell hope/paper/security, or "depreciating assets, like everyone esle." Pick one. Vague, but it works. As for bordom, get an i-phone and trade from the road. Go see the world. If you can't afford to do this, should have not retired yet.
I just tell them the truth. If they ask further questions I just tell them that I am one of the few successful retail commodities traders out there and it's way too complicated to explain what I do. I live in a nice home, I drive a nice car, I donate a lot of extra time, I spend lots of time with family and I work out a lot. I have yet to have anyone pry further.
seems like forever once you attain it you can't believe it you relish in it then you realize how nice it would have been to figure it out 10 years sooner and finally to remember each day to hold back from being greedy
Traded in my simulated account 18 months or so. I was consistent in terms of a monthly profit within 2 months of trading live. I was comfortable with live trading after about a year. I found that aviation and trading have at least one thing in common; Simulators. They look real and feel real, but real they ain't. And no matter how much you think you've done the real thing in a simulator, you haven't. The real thing is a world unto itself. The simulator's red screen isn't death and the simulator's account balance isn't real money. The gut can feel the difference.
i'm in my first year my mind is a sea of mess endless books, threads, staring at charts, backtesting but everyday is one step closer