daughter asks for advice

kids, they grow up quick, dont they... you dont mention her age... so depending on what is "legal" or not... i would just setup an account with IB with $30K, setup parameters within the account to trade small lots (100 shares max) and let her at it... to be honest, all my trading I learned the hard way... it is true that one learns a lot by just trying and figuring things out and taking small controlled risks..

you can look at this "course"... to help as well... I did liked some of his stuff...

http://www.cybertradinguniversity.com/

a lot of it is in youtube...

the alternative would be to just get her with Bright, and use their low entry mentoring program, assuming she is of age, that will set you back $20K total (including deposit) and it will take her 1 year to complete...

just what I would do with my kid...
 
Quote from Chuck Krug:

i believe everyone has to make the mistakes.
tell her to get a job at an investment advisory/ bank/ brokerage/ fund etc., that way she can be around people who are interested in stocks and earn a paycheck too (especially if she's good in sales) and trade her own account too.
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if you are an employee of an IB, you can not trade your own account. There are so many restrictions and limitations that is not even funny. The same goes for a hedge fund. The only thing you can trade, are indexes and some ETF's, and the holding period is usually 30 days...you are not allowed to trade a short timeframe.
 
Quote from oldtime:

If it was a son, I would know exactly what to tell him. But I don't know that much about girls or stocks.
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hmmm... I dont think the sex makes a single difference in trading... the assumptions you are making about her being a girl might be wrong... so why not go ahead and approach it the same way as if you had a son...

also, stocks(cash equities) are the foundation for most of the derivatives out there... other than that you have FID and Commodities... and more derivatives of the three... but I am sure you knew that already.
 
Ofthomas> there are plenty of companies that are less strict. Anyway, I have never seen much use of following too many rules anyway. Worst they can do is fire you.
 
Quote from Chuck Krug:

Ofthomas> there are plenty of companies that are less strict. Anyway, I have never seen much use of following too many rules anyway. Worst they can do is fire you.
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actually, no... if by companies we are talking about IB's (Investment Banks) there are not that many... and you are in fact restricted.. it is part of their legal compliance and within their code of conduct... if you get fired because of violating compliance or conduct, you will have a hard time getting another job at another IB... it is a small world..

now, if you are talking about working within the investment division of an insurance company or large conglomerate, then the rules are different... but your statement(investment advisory/ bank/ brokerage/ fund etc) had to do with financial services companies, and I know first hand experience, from working for the majority of the IB's, that it is an incorrect statement...
 
I know and I think it's a shame, that attitude that a lot of companies have that you should be thankful that you can work there, instead of the other way around. (And I'm strictly talking about highly intelligent, highly motivated employees here)

But we are going off topic here.
 
Quote from nutmeg:

Does she still hve a business?

Imo, anyone who runs their own business or runs a business for someone else should know "What's the hedge." If you're an options guy you should be able to steer her in the direction of a hedge for her business with options. All the major cos hedge resources unique to their business, so should she. Obviously, the hard part might be determining the "Hedge". Business is down the hedge is up. Can't get hurt.
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no, she got overextended on credit and almost lost her mind, couldn't sleep at night, that's when she decided to go do something easy like getting a college degree

I think it's in something like Psychology

I tried to talk to her about putting on a spy hedge when she first asked me about options

it was hopeless

the one thing I told her was, when it comes to trading stocks, women are quite often better shoppers than men
 
Quote from Chuck Krug:

I know and I think it's a shame, that attitude that a lot of companies have that you should be thankful that you can work there, instead of the other way around. (And I'm strictly talking about highly intelligent, highly motivated employees here)

But we are going off topic here.
More...
well for a while, I worked as an employee, but they paid you based on your performance

one time the owner took me in the office on a cold winter night and informed me I was the highest paid employee in the company

and then he said, "You even made more money this year than I did."

what they didn't know is, I didn't own a tv, and never watched a single show or game. I only slept 5 hours at a time max, the rest of the time I was working. They all went on a skiing trip to Tahoe, I stayed home and worked.
 
Quote from oldtime:

well for a while, I worked as an employee, but they paid you based on your performance

one time the owner took me in the office on a cold winter night and informed me I was the highest paid employee in the company

and then he said, "You even made more money this year than I did."

what they didn't know is, I didn't own a tv, and never watched a single show or game. I only slept 5 hours at a time max, the rest of the time I was working. They all went on a skiing trip to Tahoe, I stayed home and worked.
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then I became a stockbroker, and it was almost the same deal, but it was at the company Christmas party, on another cold winter night, only this time the boss said, "Do you realize 90% of your commissions are from your own account?"

"We're going to have to let you go as a broker, but you can keep your old desk and your brokers commission rate"

I didn't know whether to go home and tell my wife I had been fired or promoted
 
you could sit her next to you and mentor,sounds like she will talk back, might be good for both of you after the 1st few weeks of
 
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