@Baron Hey!. I agree in that it can impose a negative connotation to the whole idea. However, at the moment we are only going through the very basics (e.g. him showing me where he would get in/out - RHS covered, showing me bull/bear strength etc. I fully plan on "cheating" a little, so he has more winners than losers, but will also try and test his sensitivity to "losing" in order to gauge how I can progress with him. A very important point you made that I will pay further attention to.
@Handle123 Pure genius bud!!!. Gotta love how you put things and that is why I decided to start this thread here. I think since he so much likes "playing" with charts, I'll put him on for an hour or so, 3-4 times a week and see where we go from there.
@wrbtrader I completely agree and I plan to just keep it like a "game". Your kind of posts help drill me with keeping it easy, so thank you. I look forward to the research and will dig around for kids trading books. Amazon a good place?
Probably teach you how to trade than vice versa! I've always thought that a five year would make a better trader than 90% of adult traders. After all, just show a kid a bar chart and ask them what the trend is, they will point it out straight away!
It good for you to play with him, so he sees that you fall through the bars like it be called a "breakout", support didn't hold, or pop your head and body through and resistance didn't stop you. So when I taught my kid, I would be the price, and bounce into a tree as a wall I couldn't get thru, and always make it fun and laugh, cause they don't stay little forever.
Children of today can't function in the real world, 16years of the you can't lose, everyones a winner BS, then get a job, 200 interview only 1 gets, OMG I didn't get the job I give up, so starting him off early on the you can't always win, sounds great to me. He'll treat it as a game, no fear, greed, likely just jump on market direction, without fear and exit when it changes, which is all you really need to do, but adults can't handle the simplicity
Perhaps one of the most valuable things a kid can learn is that doing the right thing consistently is more important than random outcomes.
Maybe you could put it in terms he can understand or help him find interest. Show him the charts and what You do. Kids impersonate their Dads. Explain the parameters of a graph and how they are used. The bottom line is usually the time line and the right line (axis) is profit / loss, up /down line. Keep it simple and very basic. Show him how to read a page of stock quotes from the internet and relate it to the basic math skills he has already learned. Explain why math is important. Give him 1 share...maybe 5 or 10.......in 2, 3 different companies for Christmas, Birthday, Groundhog day.......and follow up with him once a month and show him the changes that have occurred since the first of the year...Stock movements, the value of compounded interest and reinvesting your dividends. You don't have to teach him the Series 7 exam in one sitting, just one element at a time and reinforce it over the years.