Whenever the stock markets are at record highs, I always run across people wanting to get into investing as well as trading ( See the difference between the two here.). Everyone wants to be a financial market trader when the stock market is making local headlines while being at the top. It may also be because they see their company sponsored retirement account doing well.
While I believe one can be an Investor at almost any time or age, being a Trader on the other hand is a whole different world. It requires significantly more discipline, dedication and risk management. A person may have those traits in other fields, but unable to apply them to trading. As a result, I have seen far too many people fail in financial market trading for me to sell the idea to anyone.
Whether it is trading stocks, futures, options, or whatever instrument of choice, I have a hard time encouraging other to be a financial market trader. However, there is no shortage of services on the web that will sell you stories of success as a Trader, implying you could be like them. Buyer beware.
With the stock market being at breathtaking levels, there will be a number of success stories, but stay tuned for when things become more ‘normalized’. Before you step into trading, be really sure you know what you are getting into and realize that there is also an aspect of addiction to it, even as you are losing money.