Don't do it! Your relationship outside of work will suffer. If you have a good friend who trades ask them to do it if your relative wants to trade.
What exactly is this foundation you mention? I'm sorry but its not there. ================ You will know it when you see it. It's a credential. some parts of our society, live and die for credentials. You will be left out. If the academics are in control they'll refuse to recognize a maverick. You will be forced to take detours. You could out earn a degreed person but there'll come a time when you hit your head on the ceiling. Pour moi, no harm no foul. I did not care. You can hire a credential.
Amen! As for teaching a close relative how to trade, as long as the "student" initiates the interest, why not?
I understand this sentiment. I graduated in 1986 with a BS in Computer Engineering. At that time, the degree was hot meaning a decent job at a good income was waiting at graduation, I actually could USE what I studied for, and the college education did not cost a fortune to obtain. The result was that it provided a good foundation to launch a career and I never regretted it. However, now being the father of 2 sons who are both 13 (twins) and college is coming up - I have been planning for the cost of college and I must say it is ridiculous the levels that tuition have gotten to, even for state schools. My sons are not really in the engineering bent and to be honest at this point it is hard to see the cost/benefit working out for them for most degree possibilities. It is seeming more like an excessive tax at this point to even have a chance to compete. In other words, you aren't really rewarded much for the degree, you just avoid the penalty of not having one. The recent college grads in our extended family came out to poor or low paying job prospects, large student loan debts, and basically a corporate environment that does not reward loyalty in any tangible way. It is no wonder that people are wondering why even go. Honestly, I sometimes think teaching my sons how to think for themselves and start a good business would be a better plan. Not sure what the answer is, but college is not the obvious slam-dunk decision that it used to be.
Let him get a job and then see to it that he learns the art of saving money. Money earned and the sacrifices made in his daily life to save from those earnings will teach him to respect that money when he should cut his losses on a bad trade. I feel that rather than teach someone how to trade just as you do, the results will be better if you first show that person what approaches to trading are available. One who dislikes puzzles and chess type games may not find TA to be the approach best suited to his abilities. If he does find the idea of using TA to be the most practical tool for trading, you might introduce him to the good books of which you know. But he should do the hard work on his own. I would limit any assistance to showing him what pitfalls to avoid, and answering questions to which he can't find the answers on his own.
Why is it so important to prevent your kids from becoming educated? Do parents want them to be ignorant instead? Getting a career is only a part of being educated. Why not just home school the kid through 5th grade, and then teach them to trade? Save all those wasted years...
In this society everyone seems to think that you have to go to a four year college, which is just not the case. You can still go to community college and get into some great jobs, nursing for example. I also know that at DMACC they have an agribusiness program where most of the people will go on to do hedging for grain elevevators, ethonol plants etc, that job starts around 50K and goes well over 200K with experience, thats better then most 4 year grads will ever do. Brandon
Spanish, I had a friend who became a big trader, he became the biggest local in the pit in Amsterdam, he amased 25 million euro's in a few years, he thought of himself as a trading God. He now is cleaning windows as he lost all his money. You have been trading for two months, he had been trading for 12 years. So what do you know ... it just might be a lucky streak.
I'm starting to think it's cheaper to just let 'em stay home and buy 'em a couple of kegs a week. I'm going to have a whack at teaching my wife what I know. She has a science/analytical background like me so it shouldn't be too bad.