Good careers for retired traders

Discussion in 'Professional Trading' started by sstamboulie, May 9, 2009.

  1. Pinozi

    Pinozi

    Do they have a bankroll and were they good traders?

    If its yes to both then maybe learn the poker tour or learn how to sportsbet
     
    #11     May 10, 2009
  2. This is a fair question & I don't understand why you are savaging the guy for asking a question & trying to make a living for himself.
    I knew a guy in similar straits. Former good trader (mkt mkr) but only a h.s. education & the market was evolving behind him. He had a good run & probably socked enough away to own his own place in nyc with sufficient creature comforts, a reasonable base for retirement & the good times along the way.
    The guy 'retired' & became an EMT. I guess it gave him a) + cash flow without dipping into capital b) health & pension bennies & c) something to do that matched his skills: 1.) quick decision making in a rules- based environment 2.) ability to handle stressful situations.
     
    #12     May 10, 2009
  3. Thanks everybody - these posts were really helpful. And thank you in particular to those of you who suggested specific jobs such as other sales jobs, etc. Steph - the EMT idea is great. It may not pay a ton, but it would use some of the same skills and would provide real excitement and comraderie.
     
    #13     May 10, 2009
  4. Stock broker
    Financial advisor
    Real estate agent
    Career coach :D
     
    #14     May 10, 2009
  5. Cutten

    Cutten

    You appear to view productive work as a painful necessity rather than an opportunity to enhance life and create something meaningful before you die. With that attitude, ANY "job" will suck. I can't tell for sure since i am not old enough, but I suspect that passive retirement sucks too, even if you are a multi-millionaire. Productive/creative work is IMO a necessity for a fulfilling life.

    By this logic, former traders should simply ask what they are passionate about, then find a viable career in one of those areas. Then again, a retired trader who is not passionate about trading & the markets has quite frankly pissed away a decade or more of their life on something they never enjoyed. They would probably have some frustrated talent or interest they didn't fully pursue, so they should go and explore that.
     
    #15     May 11, 2009
  6. There are plenty of things that a retired trader could do. About the only thing that would be difficult would be to go to corporate america, but really who wants to do that?

    Look at trying to make a 2nd career from a hobby. Depends all on how much the retiree wants to put into it and what they are looking to get out of it.

    Do they need the income or is this just to keep busy?
     
    #16     May 11, 2009
  7. 1) Your points all make sense.
    2) Regarding "productive work", I know that I have higher and more unrealistic expectations about what constitutes "job satisfaction" in the work-a-day world compared to most people.
    3) Because of that, I use "fear of boredom and brain death in the job world" as a motivation to keep grinding forward when my trading goes through a stagnation or drawdown period.
     
    #17     May 11, 2009
  8. Aisone

    Aisone

    If someone has been a successful trader for a long time, that means they've been a survivor who's resilient, determined, resourceful, and doesn't embrace failure (even if they've been forced to leave the markets at some point.)

    Everyone has different strengths and interests (and needs), but if a former trader can carry these things over, they'll be ok.

    However the very difficult thing for a former trader might be the same that plagues everyone else in life...finding something that they really love to do and would get enthusiastic about, and that in itself takes a lot of individual soul searching and experimenting.
     
    #18     May 11, 2009
  9. This post seems most relevant.

    Personally, I'm still laughing at the concept of a "career coach".
     
    #19     May 11, 2009
  10. I don't understand why a "retired trader," would need a second job. Maybe a trader who quit the biz early for some reason might need something to do.

    But I know damn well when I hang it up in a few years it will be to fish and ski and do volunteer work and learn how to really cook by attending the Cordon Bleu in Paris.

    No second jobs here.
     
    #20     May 11, 2009