Speculating & Investing: It is not for young people!
All the middle age dudes that were worried that they don't have the fresh quick mind of younger players can rest assured, they are not disadvantaged, it is the other way around.
Everyone has heard 1000 times that what made a trader/investor was being wise, or another way to say it is rational, or not emotional.
It's not having quick reflexes or being young or even having 200 IQ.
Note I said speculating not trading, market making arbitrage or executing someone else's orders doesn't count.
Warren Buffet starter & Jesse Lauriston Livermore started at 15 yo or younger but they are exceptions.
And Warren didn't make big returns before his mid twenties, Jesse Livermore started making real money in his twenties too i htink with his first big win in 1901 at 24 yo, he turned $10,000 into $500,000 after buying Northern Pacific Railway.
It may be a stereotype that young people are dumb and reckless I don't know, and every one (except the teens themselves) has noticed that:
- Wall Street Bets clowns buying options on leverage "it's within my personal risk tolerance"
- 21% of college students with loans in the USA have used those loans to buy a cryptocurrency
- Robinhood, Tesla, Bitcoin are extremely popular with 18-21 yo's
- "Ok boomer" etc, they think absolute legends are just "too old to understand" their investment decisions
- A large number of young have delusional beliefs "we can just tax the rich and start a communist utopia"
- Licking toilet seats, licking groceries and putting them back for "fame" (these are of course the most extreme cases)
- GUH!
Learning to invest or gamble takes time, teenagers are better off continuing their lives, and if this interests them they can learn as a hobby in the background.
Who loses everything? It's always young people that go nuts right? Maybe it's a rite of passage and they are all condemned to lose everything.
So anyway, if you thought some people were "too young" to participate in the stock market or currency exchange etc, you are right.
And if you thought old people were too old, and the best were all super young and super quick, you were wrong. Soros started in his 30s btw...
Now, for the proof.
Here is what the science says:
www.nimh.nih.gov/hea...-to-know/index.shtml
www.urmc.roches...ia/content.aspx?ContentTyp...
So all the 30+ boomers that thought it was too late, emm no actually it's not too late, 30 yo is scientifically the perfect and earliest time to get started ;)
And maybe I didn't throw my life away by starting too late after all yay :)
And next time a "legend master of charts" tries giving you a lesson, it might be the moment to throw this to them.
They're so ridiculously embarassing and delusional thought, probably won't work.
There is 1 exception: Our governments & lawmakers. They never seem to really develop that rational part much.
When you are in this business for several years you can tell that the prefrontal cortex is the most important asset to success.
Before IQ, before intuition, before how much money you start with. By very far.
I hope you found this as interesting as I did.
With lockdown & markets sideways 90% of the time, I think I will make more ideas about history like my last one, the winning mindset, how to develop a strategy and so on.
Everyone has heard 1000 times that what made a trader/investor was being wise, or another way to say it is rational, or not emotional.
It's not having quick reflexes or being young or even having 200 IQ.
Note I said speculating not trading, market making arbitrage or executing someone else's orders doesn't count.
Warren Buffet starter & Jesse Lauriston Livermore started at 15 yo or younger but they are exceptions.
And Warren didn't make big returns before his mid twenties, Jesse Livermore started making real money in his twenties too i htink with his first big win in 1901 at 24 yo, he turned $10,000 into $500,000 after buying Northern Pacific Railway.
It may be a stereotype that young people are dumb and reckless I don't know, and every one (except the teens themselves) has noticed that:
- Wall Street Bets clowns buying options on leverage "it's within my personal risk tolerance"
- 21% of college students with loans in the USA have used those loans to buy a cryptocurrency
- Robinhood, Tesla, Bitcoin are extremely popular with 18-21 yo's
- "Ok boomer" etc, they think absolute legends are just "too old to understand" their investment decisions
- A large number of young have delusional beliefs "we can just tax the rich and start a communist utopia"
- Licking toilet seats, licking groceries and putting them back for "fame" (these are of course the most extreme cases)
- GUH!
Learning to invest or gamble takes time, teenagers are better off continuing their lives, and if this interests them they can learn as a hobby in the background.
Who loses everything? It's always young people that go nuts right? Maybe it's a rite of passage and they are all condemned to lose everything.
So anyway, if you thought some people were "too young" to participate in the stock market or currency exchange etc, you are right.
And if you thought old people were too old, and the best were all super young and super quick, you were wrong. Soros started in his 30s btw...
Now, for the proof.
Here is what the science says:
www.nimh.nih.gov/hea...-to-know/index.shtml
www.urmc.roches...ia/content.aspx?ContentTyp...
So all the 30+ boomers that thought it was too late, emm no actually it's not too late, 30 yo is scientifically the perfect and earliest time to get started ;)
And maybe I didn't throw my life away by starting too late after all yay :)
And next time a "legend master of charts" tries giving you a lesson, it might be the moment to throw this to them.
They're so ridiculously embarassing and delusional thought, probably won't work.
There is 1 exception: Our governments & lawmakers. They never seem to really develop that rational part much.
When you are in this business for several years you can tell that the prefrontal cortex is the most important asset to success.
Before IQ, before intuition, before how much money you start with. By very far.
I hope you found this as interesting as I did.
With lockdown & markets sideways 90% of the time, I think I will make more ideas about history like my last one, the winning mindset, how to develop a strategy and so on.