Jump to content

Welcome to the new Traders Laboratory! Please bear with us as we finish the migration over the next few days. If you find any issues, want to leave feedback, get in touch with us, or offer suggestions please post to the Support forum here.

  • Welcome Guests

    Welcome. You are currently viewing the forum as a guest which does not give you access to all the great features at Traders Laboratory such as interacting with members, access to all forums, downloading attachments, and eligibility to win free giveaways. Registration is fast, simple and absolutely free. Create a FREE Traders Laboratory account here.

Follow The Trend

At what age do you plan to retire?

At what age do you plan to retire?  

8 members have voted

  1. 1. At what age do you plan to retire?

    • 20s
      0
    • 30s
      1
    • 40s
      2
    • 50s
      0
    • 60s
      1
    • 70+
      1
    • Not sure
      0
    • Never
      3


Recommended Posts

Before we get to the age question, we need to ask ourselves, "Do traders ever retire?"

 

I am not sure they ever do, but when I began trading I had the target of retiring when I was 40.

 

I am currently 34 and have a little way to go yet before I can consider retirement. I may miss my target, but I'll enjoy it!!

 

At what age do you plan to retire?

Share this post


Link to post
Share on other sites

I have to say that as much as I would like to retire fairly young, I can never see the situation when I will stop trading - its in the blood.

 

How would I replace the buzz of trading? What would I do all day?

 

I like making money, and I like to make lots of it. There may come a day when I reach "burn out" and have no choice but to retire, but hopefully that day is a long long way off.

Share this post


Link to post
Share on other sites

I voted never

 

as long as I can watch the screen and I can make descicions rationally I will play the markets

 

I have slowed down a little . I don't trade everyday like I used to . As I get older maybe I'll slow down more, I don't know.

 

I will like to add something to the thread with all respect. Family matters

 

Trading is stressful and demand ton of time and concentration. Well you all know that. In my particular case, I have a 10 years old daugther. When she was getting around 7/8 years old, she slowly and carefully, in a sophisticated way, was pulling me out of the screen. She's now hitting me with "Daddy why don't you retire?" (I've been in this business since very young) Well, you know how kids are. The thing is that , if you have kids and they're growing, they will try to get your attention and the screen seems like an enemy to them.

 

Creating a balance is the key, but family, especially kids put a lot of weigth in your shoulders when it comes down to trading.

 

Other than money, trading creates a challenge and excitement. Also makes you a better disciplined and well-balanced person, well at least for me. I don't see my life when I get older, throwing chips on a poker table or spending the whole day at the mall. Trading when you get older will make you feel that you're still productive.

 

 

 

 

 

I apologize if I hijacked the thread

 

Reagrds

 

Raul

Share this post


Link to post
Share on other sites

Great post Raul. Traders should not limit their life to just trading. Having a social balance is also important. I am still young and do not have the responsibilities of raising a family. Eventually I will, in which I plan to devote a good amount of time to my wife and children.

 

I think with age I may find it harder for me to be trading as much as I am right now. I plan on having multiple things on the side and I may limit my trading to only the morning session. The feeling of accomplishment and being productive is more important to me than money. So I don't think my ambition will ever die.

Share this post


Link to post
Share on other sites

I voted 30's but honestly I dont see myself every not working. I have a working gene in my blood, I honestly can never sit still or not do something. When I go placed Im always trying to figure out how they make their profit what the profit/Cost ratio is and if they are a profitable company.

Share this post


Link to post
Share on other sites

I voted for 40's. Realistically if one wants to perform at the highest level then by mid 40's he should retire. The pressure of trading in addition to the decision making ability will go downwards after that age.

Share this post


Link to post
Share on other sites

Well gosh, it seems I am a bit late to the party in answering this one.

 

When I first saw this thread I thought well heck, I am already 57 years old, I am almost at the accepted "retirement" age and I am wondering "Huh? "Who the heck wants to retire!" But as I got to thinking about it, I think that is possibly a separate question from when do I wish to leave trading behind.

 

I will risk sort of joining into the chorus here with other posters in this thread and say that I think retirement is grossly over-rated. In my opinion it is an entirely outmoded concept. I think perhaps it was never really much more than a dream of some day escaping the "drudge of work and bosses" in favor of the proverbial "Good Life" that must surely be waiting for us in the future if we just slaved and sacrificed for oh, say 40 years or so starting right now. Admittedly, upwards of 85% of people can barely stand going to their particular "jobs" each day, and thus the desire for a future escape, but that is an entirely different discussion for another day and possibly even a different forum.

 

Let's get back to trading itself. Why do we do it? What do we hope to get out of it? What does it extract from us in return? I think most of us could agree that we enjoy not only surviving but also occasionally beating the odds in the market. There is no question we have to treat trading as a business to survive in it, but don't most of us at least somewhat enjoy it as much as perhaps our children enjoy their videogames? Heck, to me it has sometimes seemed like the most fun I could have as an adult without it being illegal, immoral or fattening and it even pays me money in return!

 

But let's be really candid and honest with each other. We all know very well that actively trading day after day definitely "extracts its pound of flesh" from us as they say (for those of you for whom English is not your mother tongue, this is simply an idiom basically meaning we usually must sacrifice a great deal to get what we want in return.)

 

To trade successfully requires intense concentration, a constant willingness to accept being wrong (usually in the form of being punished by the markets in the form of loss of capital and the potential depression that may result therefrom) and almost super-human control of our emotions. Can any of us truly deny that occasional little nagging feeling that the market seems to take great pleasure in occasionally stomping us into the dirt and grinding its boot on our neck? Actually that kind of thinking is exceptionally hazardous to your your mindset and also your trading capital, but it does paint an entertaining picture of the risks, does it not?

 

As I sit here and calmly think about all that it requires to do this successfully, I find myself thinking of air traffic controllers No wonder most of them burn out at an early age! However, if we are willing to admit it to ourselves, even if not to the public at large, in our heart of hearts we know that most of us feel a sort of "addiction" to this game of trading. Yes, I know that many will read that and pooh pooh that whole idea, holding themselves aloft and above such petty feelings about their involvement in this illustrious industry but how many of us can honestly deny that it is somehow in our blood?

 

Let's ask ourselves a question or two. If the key goals and reasons (or the big WHY's) that brought us to trading were suddenly fulfilled, would we stick around hour after hour, day after day intensely studying our monitors, always keyed upon looking for that one high probability trigger to jump on yet another risky trade, in a marketplace well known for gobbling up trader's accounts as though they were candy?

 

Here is a slightly different thought along those same lines. As much as humans love the comfort of "routine" they also crave variety. They say that trading, when done right, is very routine and possibly a bit boring. Once you have spent upwards of several thousand hours in front of the monitors trading back and forth, the fortunate amongst you may eventually have a breakthrough and trading will become much easier. You may get to that stage where instead of fighting to extract your 1 or 2 points a day, you are able to extract multiples of that from the market on a regular basis. What then? Isn't it the struggle and challenge that provides the real zest of trading?

 

Isn't Life designed to be an amazing adventure? Is it desirable or even prudent to plan on remanining tied down to the same old thing, especially in our later years?

 

Each year I grow more convinced that the time we spend with our friends, immediate family and assorted loved ones, enjoying those simple every day moments together is the greatest pleasure in Life. After all, while not wishing to seem morbid at all, I daresay that on your deathbed in the future, there will not be many amongst us who will bother to pause even briefly to think that perhaps they should have put in more hours or days trading.

 

Ok, you have endured more than enough hardship here reading through my lengthy response to the riddle of when or if to retire from trading and it is high time for an answer!

 

YES, I shall most definitely retire from trading :D

 

I shall only continue trading as long as I can continue to do it successfully and even then only as long as it remains more fun than it is stressful. But I shall never retire from doing something productive with my time, whether you call that work or not.

 

I shall tell you that the only reason I have been able to successfully focus the several thousand hours necessary to achieve a breakthrough in my trading is only because my "WHY" is much bigger than my own self involvement. The biggest reason I trade is so that I can donate an ever increasing amount to charitable foundations that sponsor and provide for children who do not have the benefits in Life that I have enjoyed. To me, that has made all the difference and it is the driving impetus behind why I do what I do in trading. If it were just about money for me or the vicarious thrill of trumping the markets on a more regular basis, I would already be long gone and wasting away on some little beach in Thailand sipping on those cute little umbrella adorned drinks.

 

Thanks for reading and thanks to James (alias Soultrader) for providing us the venue to speak our mind in this great trading forum. I always enjoy reading the comments from the other traders here and find that the more I read, the more I am convinced that we all are very much more alike than we are different. I think that is something to be celebrated and appreciated.

 

Happy Trading :D

Share this post


Link to post
Share on other sites

I absolutely love your posts ez. I admire the charity work.. its something I have been doing on a small scale but one of the things I look forward to doing in the future.

 

Helping others is the most rewarding feeling for me. One of the plans I have in the future is to provide a public computer facility for the children in the ghetto. It's something that struck me when I lived in Boston. The gap between the poor and the rich was unbelievable compared to my hometown Tokyo. (Sorry... this is irrelevant)

 

As much as I love to trade, I know at some point in my career I will get burnt. I am also never satisfied with doing just one thing. Which is why I often have multiple projects at the same time. I will always be trading but I look forward to balancing my time with other ventures as well.

 

Trading is in our blood. My blood type is 60% poker/ 40% trading. A very hard combination for most people to understand.

 

I think those who have accepted the challenge and have accomplished things that they never thought they could, appreciate life a little more than those who never try. The sense of accomplishment is definitely a natural high. Perhaps this is because I hold an entreprenuer like mindset.

 

"Nothing is impossible" - Adidas -

 

I like their slogan very much :)

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.


  • Topics

  • Posts

    • Date : 25th November 2021. Market Update – November 25 – Solid US data lifts USD, Stocks, & Yields. USD (USDIndex 96.70) holds on at 16-mth highs; Strong set of US data yesterday GDP (2.1%) up a tick but missed by a tick, Claims (199k) at 52-yr low, PCE (0.4% m/m & 4.1% y/y), in-line & largest since Jan.1991, along with a big beat (5.9%) for GDP Price index, Durable Goods (0.5%) in-line, Personal Spending (1.3%) a big beat, Personal Income (0.5%) a beat, Trade balance a big beat (14.6%) on strong Exports, Inventories (-2.2%) a big miss, but shows demand is strong. Consumer Sentiment a beat and New Home Sales flat (745K) and missed. Stocks & Yields pushed higher, Oil held onto gains and Gold tested 3-week lows.   The FOMC Minutes showed (1) there could be a faster taper than the $15bn/mth currently planned, (2) Inflation could indeed be “persistent” (3) Clear division over 2022/23 rate hike cycle, Doves hold sway for now. US Yields 10yr trades at 1.644%, down from yesterday’s 1.694% high. Equities – Gains into the Holiday USA500 +10.76 (0.23%) at 4701 – USA500.F trades higher at 4713. USOil – peaked at $78.53 Inventories +1.0 vs -1.7 weakened prices – now at $77.65 Gold found a floor at 1782, but struggles to recoup $1800 at $1790. FX markets – EURUSD now 1.1216, having broken 1.1200, USDJPY now 115.36, from 115.50 & Cable back to 1.3350 from 1.3315 yesterday. Overnight – JPY PPI (1.0%) hit a 10-yr high, German GDP and consumer confidence both missed (1.7% vs 1.8% and -1.6% vs -1.0%) respectively. European Open – December 10-yr Bund future up 16 ticks, while US futures are slightly in the red. Bunds already outperformed yesterday, as EZ spreads widened in the wake of hawkish leaning ECB comments & confirmation that German finance ministry will go to the liberal FDP, which likely means more resistance to debt mutualisation across the EZ & more pressure on ECB to limit asset purchases. DAX & FTSE 100 futures are currently up 0.4% & 0.3% respectively & US futures are posting gains of 0.3-0.4%, suggesting markets are coping quite well with the prospect of less accommodative policies. Indeed, it seems to an extent that they welcome the CB’s acknowledgement that inflation risks could be less temporary than previously thought. Today – ECB Minutes, ECB’s Elderson, Schnabel, Lagarde and BOE’s Bailey Biggest FX Mover @ (07:30 GMT) CADJPY (0.20%) The rally from Tuesday’s low under 90.00 has been sustained with 91.25 being tested earlier today. MAs aligned higher, MACD signal line & histogram rising & over 0 line, RSI 61, H1 ATR 0.077, Daily ATR 0.707. Always trade with strict risk management. Your capital is the single most important aspect of your trading business. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • Date : 24th November 2021. Market Update – November 24 – USD & Yields Higher, Stocks Mixed, Oil Recovers. Trading Leveraged Products is risky USD (USDIndex 96.50) holds on at highs; EM currencies under particular pressure. (TRY lost 15% after Erdogan refused a rate rise). RBNZ raised rates but NZD fell (like the last time they raised rates!) JPY Inflation 2 ticks better than expected. USDJPY at January 2017 levels around 115.00. PMI data better across the globe, Stocks mixed in US & Asia, Yields bid, Oil recovered significantly and Gold pressured by yields. Biden invites Taiwan to its “Summit for Democracy”, WHO talks of additional 700k Covid deaths across Europe (Slovakia latest to talk lockdowns). US Yields 10yr trades at 1.667%, down from yesterday’s 1.684% high. Equities Mixed. Musk sold more stock, Banks & Oil majors lead. USA500 +7.76 (0.17%) at 4690 – USA500.F trades lower at 4684. USOil – rallied over 3% to $78.20 highs despite global strategic reserves being sold to cool prices. Gold found a floor at 1782, but struggles to recoup $1800 at $1790. FX markets – EURUSD down to 1.1245, USDJPY over 115.23, earlier now at 114.88 & Cable back to 1.3375. European Open – December 10-yr Bund future up 26 ticks, US futures also broadly higher. RBNZ delivered expected rate hike & markets seem to be scaling back fears of escalating inflation as even dovish leaning BoE & ECB members highlight risk of second round effects. ECB VP Guindos highlighted overnight that the drivers of inflation are becoming more structural, which adds to signals that the CB is finally ready to start reining in stimulus. DAX & FTSE 100 futures currently up 0.3% & 0.2% respectively. Today – Big data day ahead of Thanksgiving Weekend. – German Ifo, US Weekly Claims GDP, PCE, Durables, FOMC Mins. & ECB speak Biggest FX Mover @ (07:30 GMT) NZDJPY (-0.77%) RBNZ in-line but Dovish, sank from breach of 80.00 yesterday to 79.24, and 79.40 now. Faster MAs aligned lower, MACD signal line & histogram falling & below 0 line, RSI 35 & weak, Stochs OS. H1 ATR 0.17, Daily ATR 0.70. Please note that times displayed based on local time zone and are from time of writing this report. Click HERE to access the full HotForex Economic calendar. Want to learn to trade and analyse the markets? Join our webinars and get analysis and trading ideas combined with better understanding on how markets work. Click HERE to register for FREE! Click HERE to READ more Market news. Stuart Cowell Head Market Analyst HotForex Disclaimer: This material is provided as a general marketing communication for information purposes only and does not constitute an independent investment research. Nothing in this communication contains, or should be considered as containing, an investment advice or an investment recommendation or a solicitation for the purpose of buying or selling of any financial instrument. All information provided is gathered from reputable sources and any information containing an indication of past performance is not a guarantee or reliable indicator of future performance. Users acknowledge that any investment in FX and CFDs products is characterized by a certain degree of uncertainty and that any investment of this nature involves a high level of risk for which the users are solely responsible and liable. We assume no liability for any loss arising from any investment made based on the information provided in this communication. This communication must not be reproduced or further distributed without our prior written permission.
    • EURUSD HOVERS NEAR MULTI-MONTH LOW, UNDER 1.1250 LEVEL   EURUSD Price Analysis – November 24 Throughout the session, the EURUSD pair remained on the losing side and was last seen moving with considerable losses around the 1.1250-36 level. The announcement that the White House has opted to reappoint incumbent Fed Chair Jerome Powell for a second term sparked the recent strong dip. The spot is trading at 1.1253 at the time of writing, down 0.25 percent on the day. Key Levels Resistance Levels: 1.1525, 1.1422, 1.1300 Support Levels: 1.1200, 1. 1150, 1.1100 EURUSD Long term Trend: Bearish EURUSD has sunk to fresh multi-day lows, as seen on the daily chart, after extending the recent breach beneath the moving averages 5 around the 1.1300 level. This exposes the possibility of a deeper pullback and a re-test of the psychological support around 1.1200. Under the 1.1200 level, the euro’s underlying bullish attitude is in jeopardy. Overall, the EURUSD stays bearish while trading under the major horizontal support turned resistance and significant level at 1.1422. A breakout of the 1.1300 level, on the other hand, would aim for the 1.1350 level on the way to the 1.1400 zones. The fall of the 1.1200 zones, in the alternative scenario, is viewed as a bearish continuation indicator. EURUSD Short term Trend: Bearish The risk is weighted to the negative on the 4-hour chart, as the pair is developing below the firmly bearish 5 and 13 moving averages. Technical indicators have shifted to the downside, with negative levels. However, in the present scenario, the RSI has not yet reached oversold territory, allowing for more selling. On the upside, a break over the modest resistance level of 1.1300 might shift the intraday bias to neutral. On the downside, the 1.1200 zones provide initial support. The next important level of support is around the 1.1150 mark. If there are any more losses, the 1.1100 extension level of the low decline may be tested. Source: https://learn2.trade 
    • IS IT RATIONAL TO SETTLE FOR 10% RETURNS PER MONTH? “One of the secrets few know and fewer implement when it comes to trading success is that you have to really care about doing well. These days, I see a lot of traders not caring enough, not prioritizing learning about trading, and making pathetic weak-willed excuses.” – Chris T. Perfectionism – a bane of the trading world When people look for a solution to their trading problems, they tend to look for the solution in the wrong places, having the wrong mindset. One problem with most traders is perfectionism. For instance, we tend to go to those who promise us 50% to 100% per week or month. If someone gives an estimate of 5% profits per month, we would think that is too small. If an investment salesperson promises huge returns in a short period of time, we’re drawn to them. What if I tell you that 5% per month is good returns on your trading or investment, would you agree with me? Is 60% growth per annum not good enough? Many years ago, one of my mentors in the financial industry told me that, even 20% growth per annum is good. In schools, we tend to ridicule those who make average grades and praise those who make excellent grades. The same is true of the world of sports. Do you think great sports teams win all their matches always? No! But they do well over time. Are 10% gains per month too low? Now let me ask these questions: How much percentage do you earn on your savings account per annum? How much do you earn on your fixed deposit account per month? How many people can pay off their mortgages within one year? If you buy a bus, to use for commercial purposes, is it easy for you to recover your money in one year? Can you buy a property and sell it for 100% profit within 10 months? If you found a startup, how long do you think it would take you to start making profits? Please attempt to answer these questions yourself, based on real-life experiences. Now, back to the question that makes the last subheading: Are 10% gains per month too low? Why do we tend to be unrealistic and fallacious when it comes to online trading? Making 10% returns per month from Learn2.trade crypto signals One good thing about the margin trading of cryptos is that you can make money, both in bull and bear markets. You don’t make money only when the price is going up. If your timing and methodology are right, you can predict a downward movement or an upward movement and participate in them. Learn2.trade provides quality crypto signals to interested traders. Each signal comes with stop loss and take profit targets. Sometimes a trade is closed before the stop or the target is hit. We use 5 types of orders for the crypto signals. They are Instant Execution, also known as Market Execution, Buy Limit, Sell Limit, Buy Stop, and Sell Stop. Generating an average of 2 – 3 signals per day, we also use risk settings that are usually around 1% per trade and we attempt to gain more than we risk. As these signals are sent, we ensure that we also use them, practicing what we preach. Learn2.trade crypto signals – recent performances Please check the image below to peruse what has been made recently. You see can that we use stop loss, and use small lot sizes, relative to the size of the accounts. It just doesn’t make sense to bet too big on an individual trade. You can also see that we have both losses and profits. However, our average profits are bigger than average losses. That is the pedigree of a viable/ promising strategy: Make more money than you lose. Therefore, losses and drawdowns are also tightly controlled so that they don’t have significant effects on the account. These kinds of drawdowns are shallow, for recovery and eventual growth always happen. The markets are difficult but profitable Making consistent, regular profits from the market is hard, but success is possible. When the markets prove difficult, then we only need creative approaches. Markets will continue to prove uneasy and tough, but we will continue to make profits from them, no matter what. We target 10% profits per month, though we make more than this in most cases. 100% profits every 10 months is an enviable achievement. If 10% gains per month are compounded, the results in a few to several years will be amazing. Yes, you should be aware of the power of compounding. Join us today, in this journey of regular, monthly profits. Please see the image above, to know relevant metrics and figures of the recent results of the strategy behind the signals. You can join us here for, few free crypto signals per week: For Cryptos. Or you can hop in, and become our VIP right away, and enjoy all our crypto signals, up to 3 signals per day. Get access to the ability to make 10% or more per month. You can monitor our crypto signals trading performances here: L2T Crypto Signals on MyFxbook   Source: https://learn2.trade   
    • Yes trading currencies is much more risky than trading stocks, since they're not supported by central bank policy efforts but instead freely fluctuation in a very random fashion. Profits can create wrong impression that you learned how to trade but often it is just the product of pure luck. 
×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use.