I see this as a trend among men in their late 40s and 50s as they tire of their jobs and want to do something else with their lives.
They have some accumulated wealth and they put it in relatively low risk investments and make enough to live off of while spending their time traveling, relaxing and doing things they always wanted to do.

Any of you doing this right now?

Isn't this what financial managers are for?

get into crypto, I feel like a lot of people are missing out on CFDs and that could be huge

Day traders are a naive bunch

Not yet. Still working my way through the getting started videos.

I was not successful in trading stocks, so I kept my day job.

I lost more than I care to admit

More common sense than financial advice I would say

dumb.

I'm too dumb to generate more trading than not trading after you take out the fees. And definitely not enough of a difference to cover my salary. I either suck at trading, or you people have way more money than me. Maybe both.

ea1060 said:

---

infinity ag said:

---

I see this as a trend among men in their late 40s and 50s as they tire of their jobs and want to do something else with their lives.
They have some accumulated wealth and they put it in relatively low risk investments and make enough to live off of while spending their time traveling, relaxing and doing things they always wanted to do.

Any of you doing this right now?

---

Does this really qualify as trading if youre just living off interest and income from low risk investments? Its basically just retiring early and living off your stock investments lol.

---

The point of my question was if people in their late 40s onward had quit their jobs and made the stock market their primary "job". How you manipulate your money in the market is up to you.

I have a parallel stream going for the past few years that overshadows my salary. That is a good sign that I can quit any time.

aglaohfour said:

---

A few years ago my MIL read a lot of books on day trading and decided it was going to be her full time job. My FIL gave her $50k to get started. She lasted two weeks. As I'm sure you can imagine, it's a sore subject and none of us dares utter the word "trading" in her presence.

---

sounds like people trying to count cards at the blackjack table. One book about counting on the flight there leads to $5,000 in gambling losses over a weekend in Vegas.

I quit at age 43. I trade futures from about 6-8 am or so.

Dr. Not Yet Dr. Ag said:

---

infinity ag said:

---

ea1060 said:

---

infinity ag said:

---

I see this as a trend among men in their late 40s and 50s as they tire of their jobs and want to do something else with their lives.
They have some accumulated wealth and they put it in relatively low risk investments and make enough to live off of while spending their time traveling, relaxing and doing things they always wanted to do.

Any of you doing this right now?

---

Does this really qualify as trading if youre just living off interest and income from low risk investments? Its basically just retiring early and living off your stock investments lol.

---

The point of my question was if people in their late 40s onward had quit their jobs and made the stock market their primary "job". How you manipulate your money in the market is up to you.

I have a parallel stream going for the past few years that overshadows my salary. That is a good sign that I can quit any time.

---

If you make the stock market your primary "job" (or more accurately, your primary source of income), then you are retired. That is what retirees do. You are asking whether people in their late 40s are retiring.

---

OK.

Sounds like a great way to go broke and get a divorce

superunknown said:

---

get into crypto, I feel like a lot of people are missing out on CFDs and that could be huge

---

Where do trade crypto CFDs?

I think the key to daytrading is understanding how the newbie wannabes are going to react to the ups and down and learning to play off of that. I bet there are patterns you can recognize when certain stocks go up and down during the day. Wait for the newbies to get scared, dump some stocks to cut their losses, then pick them up for cheap.

superunknown said:

---

Drawkcab said:

---

superunknown said:

---

get into crypto, I feel like a lot of people are missing out on CFDs and that could be huge

---

Where do trade crypto CFDs?

---

CFDs nuts fit in yo mouf

---

Google has failed me! I though this was a legit thing.

infinity ag said:

---

I see this as a trend among men in their late 40s and 50s as they tire of their jobs and want to do something else with their lives.
They have some accumulated wealth and they put it in relatively low risk investments and make enough to live off of while spending their time traveling, relaxing and doing things they always wanted to do.

Any of you doing this right now?

---

That's called retirement

$1500 on $REI. BIG MOVES coming.

P66 (PSXP) is at 9.16% distribution

infinity ag said:

---

ea1060 said:

---

infinity ag said:

---

I see this as a trend among men in their late 40s and 50s as they tire of their jobs and want to do something else with their lives.
They have some accumulated wealth and they put it in relatively low risk investments and make enough to live off of while spending their time traveling, relaxing and doing things they always wanted to do.

Any of you doing this right now?

---

Does this really qualify as trading if youre just living off interest and income from low risk investments? Its basically just retiring early and living off your stock investments lol.

---

The point of my question was if people in their late 40s onward had quit their jobs and made the stock market their primary "job". How you manipulate your money in the market is up to you.

I have a parallel stream going for the past few years that overshadows my salary. That is a good sign that I can quit any time.

---

Could you give me some pointers? I've tried my hand at this without success. But I don't know about it, really.

boy09 said:

---

Isn't this what financial managers are for?

---

This. For effsakes.

Sure, you can "day trade" (and more than likely get squished). But by the time you are late 40s, and if you followed a FIRE type investment strategy with a financial manager (ie, just put as freakin much as you can with your financial manager), you could live off those returns where a certified financial manager (and entire institution) handles it for you.

All without actually doing the trading yourself.

For any wannabe "day traders" out there. Go sign up for TDAmeritrade with a 1000 bucks in a brokerage account. (Or even better yet....just use their papertrade app that doesn't use real money). Then do exactly what you think you should do to make money. Then go put some money in some ETFs like SPY, QQQ, DIA. Like, buy one share a piece.

Give yourself like 3-6 months before you trade anything "for real." You will then realize you suck at day trading...and you didn't lose any real money. (But your SPY, QQQ, DIA likely returned a little something for you).

Slow, steady, and discipline...that's how normal people can acquire wealth in the market.

Tex117 said:

---

boy09 said:

---

Isn't this what financial managers are for?

---

This. For effsakes.

Sure, you can "day trade" (and more than likely get squished). But by the time you are late 40s, and if you followed a FIRE type investment strategy with a financial manager (ie, just put as freakin much as you can with your financial manager), you could live off those returns where a certified financial manager (and entire institution) handles it for you.

All without actually doing the trading yourself.

For any wannabe "day traders" out there. Go sign up for TDAmeritrade with a 1000 bucks in a brokerage account. (Or even better yet....just use their papertrade app that doesn't use real money). Then do exactly what you think you should do to make money. Then go put some money in some ETFs like SPY, QQQ, DIA. Like, buy one share a piece.

Give yourself like 3-6 months before you trade anything "for real." You will then realize you suck at day trading...and you didn't lose any real money. (But your SPY, QQQ, DIA likely returned a little something for you).

Slow, steady, and discipline...that's how normal people can acquire wealth in the market.

---

Why is daytrading even discussed? That is dangerous and gambling unless you are good and have paid your dues with huge losses on smaller amounts before you figure things out. Not for the meek.

infinity ag said:

---

Tex117 said:

---

boy09 said:

---

Isn't this what financial managers are for?

---

This. For effsakes.

Sure, you can "day trade" (and more than likely get squished). But by the time you are late 40s, and if you followed a FIRE type investment strategy with a financial manager (ie, just put as freakin much as you can with your financial manager), you could live off those returns where a certified financial manager (and entire institution) handles it for you.

All without actually doing the trading yourself.

For any wannabe "day traders" out there. Go sign up for TDAmeritrade with a 1000 bucks in a brokerage account. (Or even better yet....just use their papertrade app that doesn't use real money). Then do exactly what you think you should do to make money. Then go put some money in some ETFs like SPY, QQQ, DIA. Like, buy one share a piece.

Give yourself like 3-6 months before you trade anything "for real." You will then realize you suck at day trading...and you didn't lose any real money. (But your SPY, QQQ, DIA likely returned a little something for you).

Slow, steady, and discipline...that's how normal people can acquire wealth in the market.

---

Why is daytrading even discussed? That is dangerous and gambling unless you are good and have paid your dues with huge losses on smaller amounts before you figure things out. Not for the meek.

---

Day trading, short-term trading...all that jazz. For the vast amount of folks, its just a terrible idea.

Its absolutely gambling...even over time to "figure things out" (1) this assumes that one can even "figure it out" (and not just get lucky), (2) you have the capital to live through "figuring it out."

The better strategy is simply to downsize everything in your life for a few years....put as much of your paycheck with a financial manager as possible every month....let that build up over time....Then, either (a) continue to do this, or (b) go back to bigger spending habits, but still keep putting some money in investments.

Then, by maybe late 40s, it will generate some real returns. All depends on financial position and a host of other factors....But the moral of the story is...for almost everyone....letting major financial institutions trade your money for you will leave you in a better position than day/short term (even long term) trading yourself.

FIRE - Financial Independence, Retire Early

I plan/hope to FIRE by 40.

Most people have no business day trading. That's just the honest truth. Everyone thinks they can do it though.

I heard a stat that said only 1% of day traders ever show a single year annual profit. Even a $1 profit.

Never heard 1%. The stat most used is only 10% succeed. That stat is skewed because they're looking at the # of accounts that go to zero. One guy could blow 5 accounts and that happens a lot.

It's possible to make trading work. You just have to know that it's work and not easy money and it's not the way to quick millions. You have to have a system to take the emotion out of the equation and you have to be able to take a loss. You also have to enjoy doing it enough that you can go through weeks or months of losing and not let it get you down.

I've traded for 9 years now. Average yearly gain is 39%, best year is 241%, worst is -15%. Olympic avg is 18%.