I would like comments on this. Because during the Asian crisis, I profited handsomely, while other older participants were scared away. Now if it were to happen again, im in my mid 30s, I dont know if I would act the same.
Maybe we can see now. I see that the majority of mid 20s trader are either momentum traders (rare now) or momentum scalpers. I am wondering of 60 yos can employ the same methods (i would guess not, due to speed and agility issues).
I like to wear gorilla suits while trading. Also if my pet hedge hog farts while I am involved in a trade I will immediately reverse positions. Albert Einstein was a closet nazi and enjoyed doing copious amounts of cocaine. Four score and seven years ago we were in a bull market. I don't know if my back hurts right now?
Maybe the mid 20s trader has just never seen the market really sell off for more than one or two days. Perhaps ignorance is bliss, until they experience a selloff...
i would consider this topic interesting, but somewhat common knowledge. The older you get, the less risks you take. Thats how it works
As a healthcare professional who is just under 40, I will tell you that you have nothing to lose now. Unless you are a millionaire, long term health care will take your house, your car, and your savings after your insurance drops you. This is a reality that most do not want to deal with. In this nation there are millionaires, and there is everyone else. You have until you are too old to work to choose which side to be on. Be advised that the tax system will take about half of all you earn until you reach a certain point. I believe FICA taxes stop at 80K This is not be interpreted as financial advice and is for entertainment purposes only. Regard Oddi
I am in the mid 20's and I DO NOT feel I have nothing to lose. I am afraid of going in with big share size and I keep a very tight stop loss. Maybe when I get older with more experience of losing money, then I feel more confident and go in with big share size and a wider stop loss.
To me younger traders will take higher risks due to the fact that the older you get you will have more $ responsibilites in general such as wife, kids, mortgage, college saving retirement etc versus being single with a low overhead.