I tell them to go for it and do what I do.
Do you encourage your children to trade?
- Thread starter inandlong
- Start date
My son is only 3 1/2 so who knows what his interest in trading will be. I will certainly encourage him to follow his dreams to wherever they lead. But 3 year olds say some of the funniest things and it makes you wonder if they are really a lot smarter than we think (since I don't remember being 3 myself). We usually have CNBC on in the morning when he wakes up and he always comments, in his 3 year old voice, on the arrows. "Daddy, the footors are goin' up"...I bust out laughing every time. The other day he snuck into my office and turned on the computer (which he's not allowed to do on his own) and my wife caught him. He had this guilty look all over his face and said "but mommy, I'm jus' tradin' the maukets". That one's going in his baby book, lol.
I have a step-son who is a senior in college now. He says he wants to trade like I do. Has been saying it for some time.
His father, who is a lawyer, is quite opposed to the idea. This is the only thing we have ever agreed on.
It is not that I don't think trading is a viable and honorable profession. I just think it is something that will always be here for him. He has other aspirations, and I think trading is just, for him, a lazy way of avoiding either grad school, or the rejection he may have to face in other endeavors.
Besides, who's money would he use?
His father, who is a lawyer, is quite opposed to the idea. This is the only thing we have ever agreed on.
It is not that I don't think trading is a viable and honorable profession. I just think it is something that will always be here for him. He has other aspirations, and I think trading is just, for him, a lazy way of avoiding either grad school, or the rejection he may have to face in other endeavors.
Besides, who's money would he use?
Very interesting. I'm sure he thinks it's easy and has no fear - it's not his money he's trading (and therefore worried about losing). Like everyone says, psychology is a huge part of the game. Since he's got that big part licked, all he has to concentrate on is the trading skills. Of course, all of this is at least partially nullified if you charge him 10% for each losing trade.
Has he read Rem. of a Stock Operator? Some of his thoughts sound a lot like concepts from that book.
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i think thats their greatest asset. they just see the setups w/o concern of losing money or impacted by some other fear. if its a short, they short it! if its time to cover, why not go long?
Has he read Rem. of a Stock Operator? Some of his thoughts sound a lot like concepts from that book.
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i think thats their greatest asset. they just see the setups w/o concern of losing money or impacted by some other fear. if its a short, they short it! if its time to cover, why not go long?
Six pages of parents wanting their kids to get into trading with the exception of RS7 who brings up some pertinent issues...Some people look at trading as a way to avoid something else...That would not be a good idea...
Jack Sandner, former Chairman of CME, was quoted as saying he would never want his kids to get involved in trading cause in his opinion it is a "trail of tears"...
Jack Sandner, former Chairman of CME, was quoted as saying he would never want his kids to get involved in trading cause in his opinion it is a "trail of tears"...
Sandner is a whiner. The suckage factor involved with trading is no worse than in IT, for example, which is a truly crappy profession. And certainly no worse than in trying to start any business.... probably easier in many cases.
Regarding RS7... yes kids should get an education as obtain a skill in something, then they can trade.