Would be interesting to know which stage of life you are at relative to your trading career and which age group you fit into.
From my experience, it seems that there are two dominant groups of 'traders' or people pursuing trading. I only point out these two following stereotypes as a way to fuel discussion. I know most people can't be boxed in like that and the following is to get people thinking about their position.
1) The money hungry, overly ambitious 20's male. This trader does not have much trading experience or knowledge and thinks of the whole idea as a get-rich-quick scheme.
2) The guy in the 35-45 years category who is tired of working the 9-5 life, and sees trading as an alternative career path and a way of being financially independent.
I guess I am somewhere in between the two stereotypes I have outlined above. I am 28 years old, a freelance web designer and trying to break into being a professional trader. My friend told me about trading a few years ago and I have been on the journey ever since. The idea of trading is appealing to me for a variety of reasons and I hope to make it a long term part of my life.
Last edited by nourozi; March 27th, 2015 at 01:05 AM.
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I'm in my late twenties too, and I've found from experience that most traders are usually older. The reason being is that most of the younger generation distrusts the stock market and government since the recession. Some of the older traders are more familiar with stock market cycles, hedging, and have even made money from it.
The following user says Thank You to Itchymoku for this post:
I'm 41 so I don't know if this is already late for a trading career.
But trading appeals to me because I like the idea of making money in the shortest possible time (provided you do your homework properly) and the challenges in this business.
The following user says Thank You to anagnam for this post:
@ Itchymoku, Or you need to have saved up a nest egg before being able to trade in order to be well capitalized. Hard to do that if you paid $50k+ a year to go to college without a trust fund. =)
I will say from rough anecdotal evidence when talking with people in the retail side of the industry: obviously the prop traders at firms tend to on the younger side, and you won't find them usually on futures.io (formerly BMT), and a lot of the people that buy education courses tend to have a 45-50+ age demographic.
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The following user says Thank You to Big Mike for this post:
I'm 19, will be 20 this year. Been into trading since I turned 17. I don't see it as a get rich quick scheme, but I do see it as a viable way to lead a fairly good life. Grew up in a family where I was always told to save and invest money. Never been too good at saving it, but I am working on that.
The following user says Thank You to DrewDown for this post:
You don't have to become a professional and give up the stability of a steady pay check.
I love my job but love the challenge and reward of trading. The older I have gotten though the longer the time frame has become with my trades.
I am a decade in now and can't believe what I have seen so far from the low vol post-dotcom to today. If you are in your 20s and going to be trading for 30-40 years that is a whole lot of edges to have to find.