For some, it may be no more than a convenient way to generate a useful side income, to put themselves through college, pay down some debts, or fund exciting travel to fascinating destinations.
For others, trading becomes an all-consuming passion, a full-time occupation, and a lifetime study. It can put someone squarely on the path to a substantial income, high social status, and significant wealth.
While all this is good, the joy of trading is not found merely in its financial rewards, as wonderful as these can be.
For many retirees, like Sunny Decker, the attraction to the markets lies more in the satisfaction of acquiring a new skill late in life, along with the intellectual stimulation that it provides.
Whether he’s at home in Sarasota, Florida, or touring the country in his motorcoach, this energetic 89-year-old still trades every day he can.
Having sold a successful software business after 18 years, his love for trading is not so much the money as it is the regular mental challenge that Sunny credits with helping maintain his energy and zest for life.
Sunny Decker is an excellent example of the benefits of trading for retirees. Whether he’s at his home in Florida or touring the country in his motorcoach, this energetic 89-year-old still trades every day. Having sold a successful software business after 18 years, his attraction to trading is not so much the money as the intellectual stimulation that Sunny credits with helping maintain his energy and zest for life.
Getting started in trading with any prospect of success requires learning a range of new and non-intuitive skills, including fundamental and technical analysis, chart patterns, indicators, along with rigorous risk management.
And, perhaps most importantly, trading success demands a disciplined, methodical, and unemotional approach.
So, although it’s by no means necessary, it’s perhaps not surprising that many retirees with a background in engineering or other technical professions have taken to trading like the proverbial ducks to water. And as the retired owner of a successful software business, Sunny certainly felt at home right away.
Sunny has learned that good traders need much more than just abstract analytical or project management skills. For example, many popular and highly-profitable market patterns such as the “supernova,” and the “stair-stepper,” require the action of what is commonly known as a “catalyst” to set the stock’s price moving in the right direction.
“I wanted to find a reliable method for day trading options before the market opened.”
A catalyst may be as simple as the publication of a company’s quarterly earnings or an announcement that it just won a major new contract. On the other hand, stock prices can also move sharply in reaction to external news events as reported on television and in newspapers, financial and business websites, social media, and influential blogs.
Many kinds of news stories can impact different stocks; and war, natural disasters, civil disturbances, public health emergencies, and extreme weather events may all be relevant to the stocks on a trader’s watchlist.
Although significant catalysts don’t happen every day, less dramatic events such as elections and technological breakthroughs of one kind or another can also have their impact on stock prices. And this is why savvy traders, allocate a substantial proportion of their day to the diligent monitoring of reliable, trusted news sources.
This need to keep up with daily events in politics and finance around the world creates a powerful sense of engagement and involvement in people who might otherwise feel isolated and maybe even abandoned by society.
“I’m too old to be an investor,” admits 89-year-old Sunny, “So I mainly day trade, as many as 12 trades in one day. Trading is very invigorating and helps keep me young!”
“I’m too old to be an investor, so I mainly day trade. As many as 12 trades in one day. Trading is very invigorating and helps keep me young!”
As many others have discovered, even Sunny’s intense style of trading doesn’t mean being tied to a screen for hours every day. Nowadays, there are ways more passive traders can earn an attractive side income.
Sunny often enjoys hitting the road in his upscale motorcoach. Sometimes he travels for weeks at a time. To his delight, he’s had relatively few problems trading on the move. He uses a desk in his motorhome along with a T-Mobile internet connection to stay on top of the action.
No boss, no commute, and no customers or clients to appease: With all these benefits, it’s easy to understand why trading could be considered the ultimate lifestyle business, and why it has such a powerful appeal to people of all ages.
Still, as much as he loves the freedom of trading while traveling, Sunny remains as disciplined and conscientious as he was during his 18-year stint as president of his software company.
He says it was the timeliness of the information provided, and the accuracy with which the recommended trades played out, that persuaded him to sign up with Daily Profit Machine for his trading education.
“I wanted to find a reliable method for day trading options before the market opened,” explains Sunny, “and I’ve found it to be very accurate. The best of all.”
Although money is not Sunny’s primary motivation, his methodical approach has produced consistent results that would be the envy of many an ambitious younger trader.
The key to Sunny’s success has been his determination to exit trades when they hit his profit target. He also resists the temptation to get greedy or to stay in losing trades, hoping they’ll turn around.
“Most times I close the same day,” he explains, “but at times I sell the following day. Since January 2nd, I have made 14 trades (1 per day) and all have been winners. My profits have ranged from a low of 11% to a high of 89%.”
Since January 2nd, I have made 14 trades (1 per day) and all have been winners. My profits have ranged from a low of 11% to a high of 89%.
No doubt Sunny has also had and will have his fair share of losses. However, winning runs like the one he recently experienced, can grow an account at a spectacular speed if needed.
And in this way, Sunny should be an example and inspiration to all traders – no matter what motivation brought them to the markets.
As Sunny sums it all up, in a characteristically straightforward manner, “Each day I place a trade, set a target, and make money. It doesn’t get any better than that!”
Do you have a Raging Bull success story to share?