Do kids learn trading better than adults?

Discussion in 'Psychology' started by Tradesmith, Aug 6, 2003.

  1. THIS is possibly the silliest REPLY yet on ET!

    Yeah LOL I really believe that! You obviously haven't got the slightest idea what you're talking about. "Pessimistic outlook" - What a bunch of crap.

    "Intelligence" has got nothing to with with how smart you are, buddy. Anybody halfway smart knows that knowledge and intelligence are 2 completely different things, not to mention wouldn't even consider making disrespectful comments such as "this is possibly the silliest post yet on elite" - And you really think you're more intelligent than us? Certainly not smarter, and that at age 40! LMAO! You're probably 15 or something with that attitude!

    By the way, here is definition of "Intelligence" from Webster's Revised Unabridged Dictionary;

    <i>intelligence - n 1: the ability to comprehend; to understand and profit from experience</i>

    The fact that intelligence decreases over age is such common knowledge that it's ridiculous anybody who graduated from highschool wouldn't know! Now I make this a little clearer for you, how intelligence, as in IQ is measured: It's measured as your ability to comprehend in comparison to others of the same age as yours. If i.e. I scored IQ184 at age 22, that means I have the mental comprehensive capabilities of a 40.5-year-old! So then I would already be "on your level" - Right? But where would I be in another 10 years? Ahead of you?

    Reality is that IQ unfortunately decreases, and this is due to lack of mental training, but also due to the fact that the kids "catch up", and the gap becomes smaller and smaller. While you may indeed become wiser, more knowledgeable and more experienced, it will also become harder and harder for you to learn. But every age group has symptomatic behaviour patterns of their own; let's summarize some:

    <i>15-20 - A need to change the world
    30-40 - Hell bent on success
    45-50 - Trying to keep up with the 25-year-olds
    60-75 - A gentle decline into senility
    75-85 - Youth regained

    From the bestseller: "It's not how good you are, it's how good you want to be" - by Paul Arden</i>

    By the way - Yes, the ability of programming a new video faster as you said is by definition one of the definitions of intelligence in this sense. You're really getting it all wrong.

    And regarding your notion that "most of the great inventions and developments etc coming from the brains of adults over the age of consent" is completely statistically misleading.

    I have seen statistics that show how, over an unfitted distribution curve, most of those "great developments" were made by people at a younger age in a mean distribution. You saying that "most were over 25" is statistically exploiting the fact that an average is taken of these innovative people, and in average, most of the world's population today is older than 20 or 25. In fact, the average is somewhere around 40 and much more than that in rich industrial nations. Nevertheless, if you look at mean distribution, rather than average, you will find at your surprise that the older people get, the less they're likely to innovate.

    This also has to do with the fact that the older people get, the more they tend to be preoccupied with old knowledge and inhibiting experiences, reducing the possibility of true innovation.

    The minds of young achievers have enormous capabilities, since they're not so "loaded with trash" yet as they will become in the near future. With "trash" i don't mean trash as such, but rather the boundaries set by commonly accepted rules and knowledge, the higher need for security, and developing social conformity. Once we get trapped by conformity or "the rat race", it gets harder and harder to get out, ditto harder and harder to "innovate".

    My dad, who to me, is a rolemodel of success, recently said to me: "You know - You should use your age to conquer the world. You've got atomic rollerskates, you can do anything you like. Don't let it slip and let your brain go stale. Sometimes, when I breed over all this work, I wish I still had the brain I had when I was your age..." He's going for his 50's now! He knows so much more than me, and he's seen so much more, too. He's a famous designer, TV & theater actor and musician, all of high standing. I always admire his achievements - And how often does he tell me how much harder it becomes to think and create new things?

    Let me just think about your statment "most of the great achievements..." - What is "great"?

    How about:
    -"Wolfy" Mozart, who did at 9 what most people wouldn't achieve at age 90?
    - Bill Gates, who basically changed the world at 17?
    -Jesse Livermore, who drained the "bucket shops" scalping his tits off at age 15?
    -Thomas Edison, who invented the "Universal Stock Ticker" at age 21?
    -Justin Frankel, who wrote WinAmp/mp3 format at age 16/17 and sold it for US$100m, becoming the richest self-made kid ever?

    There are many many more, but these are people that changed a lot in our recent history - At a very young age - All younger than me, in fact. They "outsmarted" the stale and old, ditto conservative and slow-moving people, as clearly seen on Gates' move on IBM.

    But yeah - To be continued... :p

    ~The Scientist :cool:
    #21     Aug 7, 2003
  2. But: The older you get, the harder you have to hold onto your money...

    #22     Aug 7, 2003
  3. 0008


    You can tread trading as a leisure activity. You can tell them just think the money as the score of playing bridge or football. Don't crasp the concept of money is a plus, they won't have too much pressure on winning or lossing. They can take it very easy. Just like when you lost a football game at school, what did you feel? Nothing at all!

    For fun? You can buy a Nintendo or even a motorcycle to them if they make money. I am sure they will find trading very funny.

    For me, I wish my dad had taught me trading when I was a kid. I am sure I would be a much better trader.
    #23     Aug 7, 2003
  4. Yep. Accurate. I disagree with the notion on this board that playing the piano or chess are just "leisure disciplines".

    In fact my best childhood friend, who I spent the largest part of my youth with, was a violin prodigy.

    Besides going to school, doing homework and hanging around with me, he still had to practice the violin a solid 7-8h a day. This was anything but a "leisure discipline" to him. He had a very very strict professor (he entered the university of music at age 12 btw), and he worked his backside off. He had been practicing since the age of 4, and that's because the younger you start, the better it is. Starting at 6 or older is considered "too late" for serious musical prodigy experts.

    Anyway, this friend of mine went on to defy all the laws of "excellence through age" and won the world soloist awards at age 13. He went on to win several world awards, in fact he won 6 times by now (he's only 20/21), he never made 2nd place. I used to watch him on TV with my other mates whenever he was giving a large concert (mind you - he generally was the soloist leading a whole orchestra), and he killed the audience everytime.

    The critics, who initially attacked him, eventually (when he was 16) all went on to state that he is now seriously "ratlling on the thrones" of the most established violinists to have ever lived.

    I used to have a great time with him, he was a completely "normal" kid. He used to have a very dirty old violin-case he carried around everywhere, including school. Only I knew that the violin in it was financed by the state, over 300 years old and insured at $35m. We also used to rollerskate a lot, but he was always looking out he didn't break his fingers, since that would have meant the end of his career (they were insured for even more ridiculous amounts of money). He made hundreds of thousands of $ for concerts at the age of 12, but most of his earnings went for insurance, travel and his professor etc!

    I clearly remember how once he had a terrible accident - He was hit by a car, front-on and flew a good 30m across the road. His solid violin-case had absorbed most of the shock of the impact, so he only had a few ribs broken and his lungs perforated, besides other blemishes.

    I visited him in hospital and said: "What did you think in the moment after the accident?" He replied: "All I was worried about was my violin!" As he told me later, he dragged himself back on the road, with ribs broken and blood in his lungs, just to get the violin out of danger!

    And you guys are talking of "leisure disciplines"??? LOL!
    Professional music or chess is anything but a leisure discipline, particularly not if you're a kid and should be having fun, rather than having to work so hard.

    With his determination and discipline, he became one of my great rolemodels. We're still in contact.

    All the Best,
    ~Scientist :cool:
    #24     Aug 7, 2003
  5. ===============================

    Good point & DR. Van Tharp mentioned the same thing.
    I remember it was easier to learn as a youth and younger.:cool:

    Free enterprize [like trading] ought to be taught to every kid;
    at about 12 -18 years though,have to keep thier individual gifts & personality in mind.

    Not wise to force a kid to be a Rabbi if he is called to be a trader or vice versa.

    Glad i used the family lawn mower when i was a kid;
    started small lawn business.:cool:
    William Greenspan ,nickname ''pit mechanic'' in S& P,mentioned Ginkgo Biloba. It is from the oldest living tree,promotes mental alertness.

    DR. Reginald Cherry, MD, also likes Ginkgo Biloba.
    #25     Aug 7, 2003
  6. I guess if you do not introduce new thoughts and stimuli to the brain often this could happen. I may be overly optimistic or even naive here but doesn't everyone want to learn??? Very sad if they do not.
    #26     Aug 7, 2003
  7. Agreed.

    Learning how to play an instrument is a relatively easy thing. Learning to play well is a whole other ball of wax. The question is when you have put your time in and practiced for years and years will you be playing in a cheesy cover band or the symphony orchestra. For sure natural talent plays a role in some of this. But humans have proved over and over that any obstacle can be overcome through effort and perseverance. When you trade so well it ebb and flows like the stroking of a violins strings. Or when you put the trade on and it sounds like a 1st day tuba player. :D
    #27     Aug 7, 2003
  8. Did anyone understand the meaning of Citizen Kane? geez.

    Also, age is not a hindrance to learning.
    #28     Aug 7, 2003
  9. ===========================================
    Good points,candletrader.

    Oak seedling will bend in a storm

    mature oak might crack & crash. I use discretion,principles more than rules.

    Kids surely need the discipline, experience & wisdom of an adult.

    Might want to consider occsasionaly childlike pattern of unrealistic exspectations;
    markets occasionaly go to extremes.

    I like the way my dad, if he did err;
    perhaps erred on too much discipline , NOT vice versa.:cool:
    #29     Aug 11, 2003
  10. damir00

    damir00 Guest

    i think that would depend on the parent. kids don't have the emotianl attachment to money people tend to develop after a few years of paying their own bills. i don't know for sure, but it seems like trading could easily be just another video game for a kid.

    again, depending on an emotionally stable parent. :)

    #30     Aug 11, 2003