my nephew says there are now 7th graders in his AP computer science class, ie. what used to be a college level course on algorithms and data structures with limited enrollments, etc just like how the wall st shops are constantly rolling out new strategies and algos, what looks to be the next generation pipeline of talent seem to be wasting no time in ramping up their skills since it's never too early, what are some ideas/ ways to create the best environment for your kids so they can learn trading? i was thinking along the lines of, preschool: concept of money, interest rate, prices eg commodities grades 1-3: stocks & bonds, how to read balance sheet as don't need much more than arithmetic, good time to also practice mental math speed for all those quant interviews later, introduce them to concept of bid-ask spreads at FX exchangers at airports grades 4-6: global macro, news flow, a paper subscription to WSJ to read during downtime at school middle school: get them into the AP comp sci class as above, paper trading high school: advanced math and then live trading during the summer college: no satellite dishes re ken griffin needed nowadays for realtime price feed, so maybe just a wire each month to finance their co-location requirements for all the machine learning code they'll learn to write in their comp sci and stats major and then be deploying to trade 24/5
with the exception of 2-3 shops out of thousands, quants don't make money and likely never will. Now if you're talking coding as a job (not actually trading) then yes, makes a bit more sense. So would suggest your kids learn how to think critically. When they're young, chess is a good place to start. When they are older, math (abstract, statistics), economics (both Keynesian and Austrian), philosophy, theology, chess again.
You're going to need the income and a very smart kid to enroll in private school that support such. I've seen some private middle schools to private high school offer after school clubs (trading, investing and visits to exchanges or institutiional trading firms). In contrast, at the college level...many colleges around the world are offering real trading experience, real quant experience/trading including high level international competitions (e.g. rotman trading competition). Recent competition results and a list of the schools competiting @ https://ritc.rotman.utoronto.ca/results.asp?n=1 You can then look up the names of these schools and contact their administration office to have them help you prepare your child for future enrollment...they can provide you a list of private education schools that the typical student used to get them to that level. Last years competition had a few high school kids in it but only because they were enrolled in college...kids that attended private middle schools and private high schools. Also, every university that competed in the Rotman tournament...each had their own university trading room...sponsor by the biggest global financial institutions. Thus, you can do a lot if you have the income, smart kid that passes the entrance exams and you're not shy about sending your young kids away to private education in another state or country if you're unwilling to relocate yourself to reside in the same city/country. I have not come across public schools that does such. wrbtrader
Get them used to money early. Since my kids were 6-7, they received an allowance of a few bucks/week which they HAD to separate into: - Charity - Savings (i.e., buffer) - Spending Then once savings were above a few hundred, I chucked in a thousand extra and we added investing. Now, all savings goes to investing so savings is nothing right now (not the best idea, but I want them to feel the pain of not having a buffer and having to sell their investments at some point.)
%% That is a word to the wise nooby MC,; + add investing to the savings sector, as your note says. AND BE on the look out for trading investing patterns anywhere. I remember as a little kid watching an elephant in the zoo eating peanuts out of peoples hand @ the zoo, me too@ zoo. It was so cool his trunk was in a''trading range'' + he never dropped a peanut, which he took with his trunk to his mouth.LOL-LOL=true. I remember thinking as a kid, i want to make sure that big beast does not get mad=he could grab me with his trunk, thru the cage + stomp me good LOL-true. Risk management as a kid,
Not exactly. They just have a few rules with me, so as long as they follow those it's fine. I want the kids to enjoy the process of making money and not tie it to work. Work sucks lol.
i let mine get on the practice dom and told him it was real money. he was glued to it for 2 days strait during the summer before i told him it was demo. lol he about died over the 20k he thought he lost.
%% That can be a good pattern; many champion shooters dry fire a lot.[With a real gun but no live ammo],