Old traders V young traders

[VielGeld]

I like this guy...

...reminds me of myself when I was young...

It all starts with a small trading account, a touch of genius, and loads of temerity...

Oi, intern! Get your head out of Facebook and go and get the lunch order for the desk. Here's a fifty, keep the change.

One day... One day!

He's not a bad young stick. I quite like him too but I'd never say that to his face.

*Ahem*

-----

I like you too, Rob. You got yourself first class seats to the Purge! It'll be exquisite!

I'm under 30 and I'm only wondering how the trading world/ industry will look like 20 years from now not how fast I will think when I will be 50 because this is very small factor or it may be no difference at all...
Despite my age, from what I have seen , if I had a fund I wouldn't employ people under 30 to manage or handle my money

Taking algos and robots out of the equation... I surmise there will be little to no difference. The game's been the same since there was stock to trade. Why should the immediate future be any different?

I'm sure markets will behave differently, but I doubt people will change all that much.

 

[wallstreetwarrior87]

It really all depends on how long it takes for realisation/awareness to develop. Can happen at any age, but it is most likely to be common after various aspects of life experience have been obtained.

Got to face life's challenges head on to move forward. But it is no good if one repeats the same mistakes over and over again.

Ultimately it is down to the individual.

 

[vergis92]

What I like about trading is that if you work hard and put your mind to it you might be able to achieve big income (trading is one of 3 best possible business ideas I have ever found), and when I was in my early 20s I just could not stand seeing Pop singers, Models, Dancers, Footballers and Kickboxers make millions, most of these people are dumb, yet make millions, and we are supposed to work 9-5 working for peanuts, it is this fact that motivated me most to really investigate trading in depth, somehow I feel I'm on the opposite side of the trade with these people, that's how you should see it, and while you will becoming wiser with time, they will lose

 

[Bint_Crusher]

Very subjective on the whole. Better? What is better? Ask any young woman does she prefer a 2min spaff daff 5 times a week or a 2 hour drilling twice a week. Youth and beauty will take over the former but the latter belongs to the voice of experience. Add to this the fact that the old and bold have gained their education, have tested themselves in life (families, instability etc) and as a result know their limitations then compare it to the ethos of " Yoof,No Fear" do anyfink attitude, who would you hire to manage your portfolio.
I'm not going down the road of professional investors, just impressing the fact that trading is a risk management game which by its very nature has a greater chance of exposure to those with more extensive life experience.:smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart:

 

[MoonRocket]

There is a reason they send 18 to twenty five year olds to the front line of war. Greater strength sure, but they have an underdeveloped sense of consequence.
As the saying goes "They're are bold traders and there are old traders but there is no such thing as an old bold trader.
Donald Bradman (famous cricketer) made some of his biggest scores in his thirties and when asked if this was because of increased confidence? He said no.
He in fact had found his confidence was less then ever, because bowlers were always finding new ways to get him out.
He relied on his tremendous powers of concentration and anticipation to run up big scores.
Trading is not physical so while ever a guy has his marbles, age should not weary him.

 

[robster970]

Of course by better I mean more profitable in the same environment, the same experience, the same capital, and OTHER FACTORS the same
Better = more efficiency in doing what day trader do
And this is a lot of informations going through his brain , so much that he have to not only use full of his intellectual abilities, but manage it perfectly , plan to absorb the information into the future (like to read a book, other approach etc) the more information you absorb, the better you manage it , your result is better (lets assume)

I'm under 30 and I'm only wondering how the trading world/ industry will look like 20 years from now not how fast I will think when I will be 50 because this is very small factor or it may be no difference at all...
Despite my age, from what I have seen , if I had a fund I wouldn't employ people under 30 to manage or handle my money

Have you considered one thing that an older trader has that a younger one won't have? Heuristics developed from trading experience that mean they don't have to employ quite so much brainpower to select/manage/exit trades because they did all their thinking many years previously?

I'm not actually disputing the horsepower that a 28yr old has by comparison to say a 42yr old. However the notion that all 'processing' for want of a better phrase is useful is a specious argument.

 

[Pat494]

Doesn't this just remind you of your own youth.
Those balmy days that culminated in oblivion, whether on drink, drugs or sex !
Where superior physical strength won many an argument that was intellectually lost or uninteligible.

The world seemed such a simple place in those days where anyone who disagreed was obviously a moronic oldie who should have been cleared away years ago !!

No wonder they brought in National Service, surprised they ever got rid of it really

:cheesy:

 

[darkcider]

How come arcades seem to want only young people? Schneider trading associates have a website and all the pictures seem to be of young graduate types.

 

[wackypete2]

Several people on this very thread have been trading since before online trading or the internet was even available. We've adapted to the changing environment and survived. Today's youth knows nothing if not for all the techno garb that they use to "trade". What a comedy it would be to see any one of them try to trade in the old days where all you had was a phone, a computer that was barely faster than a hand held calculator, and if you were hi-tech you could get 20 minute delayed quotes with a 300bps modem.

Peter

 

[wackypete2]

How come arcades seem to want only young people? Schneider trading associates have a website and all the pictures seem to be of young graduate types.

See post #9 for your answer.

Peter

 

[Mike Kshemaraja]

I do not think age will make much of a difference, but the right education will.
Where will we gain the right education? Well I think that is asking a bit too much.:whistling

 

[Pat494]

Sorry to diverge a bit, but in politics I would seriously recomend that the upper House should be voted in by the over 50s only for the over 50s. They have survived long enough to have had some experience of the world.

:smart:

 

[tuscan]

Have you considered one thing that an older trader has that a younger one won't have? Heuristics developed from trading experience that mean they don't have to employ quite so much brainpower to select/manage/exit trades because they did all their thinking many years previously?

Yes that is right what you say , but the question was who- old or young is better suited to demands of trading , it wasn't about experience and a 30 year old can have more exp than 50 years old
If you assumed that "old trader" is someone with 25 years experience there is no point to discuss it because experience is doing the job for him
Who is better driver 20 year old or 50 year old the answer is obvious
But what if he learns to drive when he is 45
Do you know at what age Schumaher or Senna learned to drive ?

 

[toposwope]

Pat494 - And what a great job they have done of it too....cough....

 

[MoonRocket]

The world seemed such a simple place in those days where anyone who disagreed was obviously a moronic oldie who should have been cleared away years ago !!

As my father would say to his teenage son. Right now you know everything, by the time you're thirty you won't know much and
when you get to my age you will realise you know nothing at all.

 

[Mike Kshemaraja]

By the way this guy is 82 years old.

My goal is to be able to trade the way he plays:idea:

Sonny Rollins: Autumn nocturne - YouTube

 

[Pat494]

Today's youth are arguably superior.

We grew up on a diet of Internet, instant access to 10000 years of human knowledge, history, and wisdom. Our robust social networks have allowed us to upend the old order and we now dominate culture, news, innovation, and hacktivist movements.

It should come as no surprise that the new models are the better ones. We condensed in one-third the time thrice the knowledge as old generations managed. Sometimes exponentially more.

Bow to your youthful overlords! We are here to stay.

Youth is like crime and prostitution - one is stuck with it whatever one does. Just have to be grateful they are mostly zapped out on something or other and not causing too many problems

 

[Bint_Crusher]

Several people on this very thread have been trading since before online trading or the internet was even available. We've adapted to the changing environment and survived. Today's youth knows nothing if not for all the techno garb that they use to "trade". What a comedy it would be to see any one of them try to trade in the old days where all you had was a phone, a computer that was barely faster than a hand held calculator, and if you were hi-tech you could get 20 minute delayed quotes with a 300bps modem.

Peter

Like the post pete. The next generation of failing traders is well on the way. The reason? Demand for mobile apps. OK I am sure there are people who can receive data on handheld mobile devices whilst on the move but I doubt that they can continuously act upon them so that they can stay profitable, (understatement a bit). At present those with a bit of nouse can have instataneous data in an environment which is conducive to disciplined and focussed trading which will enhance the chances of success. I doubt this approach can be matched by the latest Nokia android gingerbread 4.3.1 CME COMEX MYBOT all you can eat app accessd walking down Charing Cross road.:smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart::smart:

 

[tuscan]

I 'regret' I wasn't starting my career a bit before moving exchanges from pits to screens. I think trading for individual trader was easier then, at the beginning of electronic exchanges

 

[darkcider]

See post #9 for your answer.

Peter

Fred Goodwin was old when he made a complete mess of RBS. He got a nice pension out of it though, so i suppose he was wise in some respects. On the other hand, Nick Leeson was fairly young when he collapsed Barings, but he got jailed and no pension.

Old and wise it is then.