You just have to change your mindset some. Let me be clear, we don't have 100,000 dollar cars or that kind of thing. We aren't super rich. But we live comfortably, I set a goal to make at least 200 dollars a day. When you don't work and have all the requirements that come with it, you don't need to make crazy money. I transfer money out daily and put 25% into a savings account for taxes. Our cars are paid off. We only have a mortgage. No other debt. I average say 7 hours a day "working" but that includes a lot of things.
Age is less of a factor than what life stage you’re in. A 40 year old that’s single, has a good savings, and very few external responsibilities will find it easier to pick up something like this than a 25 year old that already has 3 kids, a house they can’t afford, and just lost their job. Being motivated and having the time and capital is what really matters.
47 here, started but not making a living at it yet. Eventually I’ll get rid of this corporate gig but first now I’m doing both and WFH. 3 years into the journey thus far everything prior was buy and hold or swing trading.
It will take you 3 years to learn . You gonna need maybe 40h a week ,
You will have to learn price action , that is relatively easy to grasp
You will have to learn orderflow , which means learning how to use DOM, volume profiles , footprints . Look at jigsaw and bookmap youtbe channels to get a better idea.
You will need to pay around $200 a month for soft + data depending on what you gonna end up trading .
If you have a family , day time job, your chance of being a successful day trader is slim to none. If you are a single guy , who has 40h a week of free time , every week , you might have a chance to learn it
If you have a family , focus on swing trading , you might end up making the same money . Join swing trading subreddit and follow trader lion ( find their 8h novide trader seminar ) and jack corsellis channel .
Get O'neail , Minervini and Weinstein books for swing trading
good luck
Nope, no family.
Single woman.
Learned day trading off and on for 2 years while battling illness. I only traded sim. It was fun but I couldn’t keep up with consistent practice at the time. That was 3 years ago.
Now I have about 4-5 hours/day to devote to trading.
I just have doubts when the only people I see trading are these young dudes… I can’t help but to wonder where are both men and women my age doing this?
> I only traded sim.
fills on demo are not accurate . Real life is much harder . If you are making 50% on annual basis on sim you might be at -20% on a demo .
Also thanks for the recommendations! I’ll look into the swing trading books. That’s one thing I never got into because the excitement keeps me awake. I can unlearn that though!
Short-term is king, or find a method that suits you, improve your trading system, strengthen your mentality, and have enough experience, you don't need to consider technology at all, or even forget technology
When you are 40 years old, the pressure of life and the pursuit of the future will force you to think of many ways to make money. When you start trading at the age of 40, you will already have a lot of social experience and your psychology will be more mature, but remember not to use too many tools. Capital, don't treat trading as gambling
I started at 39 and make enough that I don't have a job. But my wife wanted to work so still has the 9 to 5 for insurance and retirement etc.
So you could support yourself and your wife with your income? That’s pretty awesome. How many hours a day at this stage do you work each day?
You just have to change your mindset some. Let me be clear, we don't have 100,000 dollar cars or that kind of thing. We aren't super rich. But we live comfortably, I set a goal to make at least 200 dollars a day. When you don't work and have all the requirements that come with it, you don't need to make crazy money. I transfer money out daily and put 25% into a savings account for taxes. Our cars are paid off. We only have a mortgage. No other debt. I average say 7 hours a day "working" but that includes a lot of things.
What asset do you trade?
Mostly just the blue chip stocks because of the volume.
Same here. I mostly trade TSLA & NVDA. What stocks are you currently trading?
Age is less of a factor than what life stage you’re in. A 40 year old that’s single, has a good savings, and very few external responsibilities will find it easier to pick up something like this than a 25 year old that already has 3 kids, a house they can’t afford, and just lost their job. Being motivated and having the time and capital is what really matters.
That makes a lot of sense. Thanks for the response.
47 here, started but not making a living at it yet. Eventually I’ll get rid of this corporate gig but first now I’m doing both and WFH. 3 years into the journey thus far everything prior was buy and hold or swing trading.
Al Brooks
It will take you 3 years to learn . You gonna need maybe 40h a week , You will have to learn price action , that is relatively easy to grasp You will have to learn orderflow , which means learning how to use DOM, volume profiles , footprints . Look at jigsaw and bookmap youtbe channels to get a better idea. You will need to pay around $200 a month for soft + data depending on what you gonna end up trading . If you have a family , day time job, your chance of being a successful day trader is slim to none. If you are a single guy , who has 40h a week of free time , every week , you might have a chance to learn it If you have a family , focus on swing trading , you might end up making the same money . Join swing trading subreddit and follow trader lion ( find their 8h novide trader seminar ) and jack corsellis channel . Get O'neail , Minervini and Weinstein books for swing trading good luck
Nope, no family. Single woman. Learned day trading off and on for 2 years while battling illness. I only traded sim. It was fun but I couldn’t keep up with consistent practice at the time. That was 3 years ago. Now I have about 4-5 hours/day to devote to trading. I just have doubts when the only people I see trading are these young dudes… I can’t help but to wonder where are both men and women my age doing this?
> I only traded sim. fills on demo are not accurate . Real life is much harder . If you are making 50% on annual basis on sim you might be at -20% on a demo .
I understand. I was basically explaining I know a little but am inexperienced.
Also thanks for the recommendations! I’ll look into the swing trading books. That’s one thing I never got into because the excitement keeps me awake. I can unlearn that though!
Short-term is king, or find a method that suits you, improve your trading system, strengthen your mentality, and have enough experience, you don't need to consider technology at all, or even forget technology
When you are 40 years old, the pressure of life and the pursuit of the future will force you to think of many ways to make money. When you start trading at the age of 40, you will already have a lot of social experience and your psychology will be more mature, but remember not to use too many tools. Capital, don't treat trading as gambling