HEHE... GOOD QUESTION DOMINICK...
While you are right, experience only comes with age, there actually is a very good reason you don't see old people. This business is the most miserable, frustrating, age-accelerating business in the world, bar none. While you can amass absolute fortunes during your 'tenure' (that applies to any form of trading), you will lose color in your hair (or for that matter, hair in general for men), you will lose any semblance of patience you once had, you will become the epitome of the 'TYPE A' personality, you will only remember the last 5 minutes of the trading day and that will set the tone for how you perceive the day went(regardless of what happened before that), you will weaken your heart, you will lose some of your sanity and you will always wonder why you sold too early or waited too long to buy.
In a nutshell, the 'old people' are either retired, dead or locked up in mental hospitals. This business chews up young folks and spits them out so that by the time you reach your 40's your nerves are so shot you don't really want to be 'in the trenches' duking it out. There are a sprinkling of 'old boys' still around, but for the most part your veteran MM is about 36 to 38 and has been in the business for about 10 to 12 years.
You are right about one thing though. Once you have mastered learning to read the tape you can use that skill to speculate and part-time trade for the rest of your life. As I always say, price action is your most important key to what is really going on.
All the best,
-- Gene |
