Hi Mike,

Never wrote you, thought I would try.

Had a question. In much of what I see, read, etc., there seems to be a focus there on recruitment and somewhat of a preference to younger people as new traders on your prop desk. PLEASE note that I am not looking for an age discrimination claim here, lol. It’s just that I’ve noticed somewhat of a bias to that. Perhaps my assumption is wrong.

If not–in an attempt to answer my own question–my assumption is that it is a) younger means not old enough to develop bad habits (i.e., less baggage the better) , b) younger means a somewhat more naive brazen-type of attitude, which due to the ways the market can play tricks on your mind, and therefore your trading is perhaps a good thing vs someone older that over-thinks it, and c) younger = less financial burdens in the beginning and a beginning trader might not make a lot of $ in the beginning.

Did I come close?   🙂

BELLA

There are some prop firms who would rather train a trader from scratch so they do not have to undo any bad habits. Or ways to look at the market that are not in the self-interest of intraday traders. Some examples are: over-scalping, over-fading, market calls. But there are others who prefer to take traders with some screen time, drop them into their environment and view of the markets.

There is a learning curve to becoming a consistently profitable trader. Whether you are young or old you must be able to survive the learning curve. Trading is a skill. It takes screen time, training and work to become competent. I get emails from from all ages who are prepared to survive the learning. I get emails from all ages from those who are not prepared. One consistent emailer has been trading for years, 45ish and still not making a living, but armed with a very supportive wife. There is no one right path at one right age.

You highlight an interesting point about over-thinking the markets. An intraday trader is just a doctor of patterns.  Every trade for the intraday and swing trader is a pattern that the trader should master. A trade is not about being right or wrong. It is not a debate on whether inflation will rise or commodities will outperform stocks or whether a company is undervalued. You are not John Paulson running billions. Young and old can mistake the drivel seen via the financial media for trading. Young and old can sit on a trading desk playing analyst when their job is trader.

I was getting my haircut yesterday and my barber asked what I did. I answered. Immediately came, “What do you recommend I buy?” It’s a good thing I don’t have much hair to trim because I spend the rest of the cut finding new ways not to answer his question without appearing rude. That ain’t what I do.

The financial media is entertainment for the retail trader. Trading is about making excellent risk/reward calls. You aren’t in their business.

I hope that helps. Thanks for your question.

Bella

One Good Trade