Are you hoping your children will be traders?

[JumpOff]

Hi All,
Do you like trading well enough that you hope your children will follow in your footsteps? I am currently a programmer/network analyst and although I can't say I'm dissatisfied with this for myself, I hope my children will find something else to do when they grow up and start their careers. I hope they find something that requires a little bit of outdoor exercise almost every day.

If you are hoping your children will follow in your path, how would you direct an interested youngster? How old will they be when you start them with a paper trading account?

JO

 

[DIN]

Hey Jump Off,

I hope sincerely that at least 1 of my children will get in to trading and have given quite a bit of thought as to how to do it without being overpowring and pushing them away, I guess it has to be fun. My 18month old boy likes to babg on the keyboard so thats a start i guess! I feel very strongly that as they grow up they should be aware of other ways to make a living and not to have to rely on the conventional route, this is what I want them to be aware of and if I can do that then i will be happy, regardless of what they end up doing. Habving said that, with me as their father I don't think there is much getting away from trading.

p.s. When he was a bit older i'm going to set him up with a demo account and link it to his pocket money!

 

[donaldduke]

I remember that everyone in my GCSE Business Studies class used to love the paper trading
contests.

We were 15 at the time. Now around that time would be a good time to introduceTechnical
Analysis, Risk Management, Money Managment etc. We were only ever told about
Fundamentals in school..

You dont want to get them addicted to trading while they are at school, they should be concentrating on other things.

If my kids dont make it to uni then perhaps I might teach them at 18 and help them
become full time traders at that age. Who knows..

 

[DIN]

I don't want them to get addicted to anything while they are still at school.!

 

[donaldduke]

I don't want them to get addicted to anything while they are still at school.!

Not even to studying?

 

[DIN]

god no. enjoy it yes, but as said before, the main thin g I want them to learn as they are growing up is to think outside of the box and not believe that going to uni, getting a job in the conventional sense it neccessarily the only way to go......

 

[DIN]

should say, "isn't neccessarily the only way to go......"

sorry!

 

[JTrader]

I agree with GJ

a child/person would first of all need to have an interest in trading and an ability with and aptitude for numbers, maths, technology and continual learning - to greater and lesser extents - otherwise, they will soon get found out.

I like the idea of being self-sufficient and learning skills that enable you to generate your own income for any person.

I would also be aware that a £50,000 or £100,000 self-determined salary through trading for any 18 or 21 year old as opposed to developing as a person through going to university or whatever and doing what young people do - does not necessarily make for a happy and fulfilled camper.

I would let them make their own choices in adult life, but if there was a genuine interest - I would certainly make available to them my knowledge and resources!


jtrader.

 

[DIN]

If my children said to me that they wanted to go to university and study really hard so they could get a top career - part of me would obviously be pleased, but part of me would be dissappointed. One of the best things about university (of course I'm saying this with the benefit of hindsight and of course applied non of the logic I am describing here) is that it gives you a lot of time to do and try loads of different things, so I would encourage them to do that rather than stress about getting a top degree and top job.

of course if that is what they really WANTED then fine, but I would make clear there would be no pressure from me.

Having thought about this, it is all at least 18 years away and needless to say a lot can happen between now an then!

 

[DIN]

I agree JT.

 

[binsley]

I actually think that 'do you want your kids to go to Uni' is a more interesting question, given the increased levels of debt and perceived devaluation of a first (i.e. undergraduate) degree in Britain over the last 5 or so years. But I may be steering us a bit off topic. Sorry.

Lets face it - outside of medicine/law - how many of us actually learnt anything useful at uni? Having said that it was great fun and its all about the lifestyle and 'learning experience.'
However, a better use of 3 years might be to go off around the world, working and living with different cultures meet shed loads of people (not to mention lots of foreign women) and maybe even learn some languages (undoubtedly a lot more fluently than on a language degree).
As a parent you cant force your kids to do anything - but if you are a good parent - what you say/suggest goes a long way in their mind.
Most people don't enjoy their job. I love mine. I would do this for nothing and yet if you are good you get paid lots of money and ultimately you get flexibility and choices and the ability to do things/other projects because they make you/your family/society happy without thinking of the financial recompense.
Would I recommend it to my kids?
You bet!!

 

[juanbyte]

Tried teaching my 14 year old son to trade and although he made over £1000 on a demo account he said it was boring, he likes doing more creative things but I am not sure how these will pay the bills.

Also taught my 12 year old nephew he also made money. I do not understand why people say it is so hard to make money when a 12 year old can by just following the rules and placing limit orders to take a profit.

They may be a bit young at the moment and are interested in other things, maybe they will have to get a job (just over broke) face redundancy and suffer office politics before they find out how good trading can be.

 

[DIN]

exactly. amen to that!. especially this bit:

"As a parent you cant force your kids to do anything - but if you are a good parent - what you say/suggest goes a long way in their mind."

 

[DIN]

at least you tried. when they find out what the big bad world is really like they will come running back. I'm also going to teach my children to mix.

very important, good for parties.

 

[Salty Gibbon]

I'm also going to teach my children to mix.

Gin & Tonics, Rum & Coke... ?

 

[DIN]

on the wheels of steel.....!

 

[DIN]

thats my boy!

 

[Roberto]

how many of us actually learnt anything useful at uni?

Education is what remains after everything you learnt has been forgotten.

 

[gene]

Juanbyte,
Would your 14 year old son still find it boring if that money he made was real?

 

[juanbyte]

Gene welcome

I doubt it, hormones and video games at the the moment, may stand a better chance with my nephew he is rather frugal with his money and not interested with girls yet.