It's a cliché to say that as we get older, we should take less risk.
I am exactly half-a-century old this year. And, I find that I take MUCH LESS risk right now.
I visit a few investment-related forums and I see people making money from the market every single day (but, they NEVER announce their losses, of course).
Am I tempted to 'gamble'? Sure, I am!
BUT, I NEVER TAKE ACTION ON THOSE THOUGHTS (to gamble)!
Firstly, there is no reason for me to take on unnecessary risks. I do not need to spend on big-ticket items that frequently.
Secondly, and most importantly, I have always kept in my mind "what would happen if I lose it all?"
There is no way that I can climb back again! I am not young anymore.
So, before you click that Buy button to play contra...take a step back and take a deep breath.
It's not worth it!
You may make a few thousand dollars from a single trade in a single day. But, I will bet with you that you will surely and ultimately lose it all back and more.
Invest, don't gamble!
Invest in good dividend paying stocks, and reinvest your dividends. Only invest in those businesses that you can understand. For me, that would be Banks, Property, Food, just to give you a few examples.