That's is a good question to me. I don't know. I think I have been lost. Anyway, there are definitely many positive things in learning trading and investment. But give the positive things to the kids as a gift. Teach them how to cope with negatives. Do not force them whatsoever to trade for trading.
When we get to the point (after reading several books, watching a few trading videos, etc) when some realistic trading experience is in order, what kinds of tools could I find? I know that Ensign Windows has a pretty good playback feature which does not need additional real-time data feed, but it does need a subscription to Ensign. Is there anything I can get for TS6 that would allow him to use data stored in the computer (as opposed to real time - presumably I will be using TS6 to trade in the next room) ? Does anyone know of an add-on that supports simulations, including placing (simulated) orders? Anything else along these (simulators, etc) lines? Thanks again.
lol...just go the free route. I would give him a computer. It will branch from there. Research and record keeping. And monitoring using extensions of himself for observing and drawing conclusions. Luckily everthing about market theory is orderly and undertandable to young people. I do drop into a class of fifth graders who might want to study the market. So far they just keep spawning tasks among themselves. They do have discussions about stuff they read in the IBD; the WSJ came out second in interst. Their teacher doesn't have a color printer so they color print out that need more definition with colored pencils. There seems to be pressure to drop some stuff they are studying so hey can learn other stuff. Interesting turn of events vis a vis learning. lol. They are not allowed to watch the real time market.
Jack, FYI, and I'm serious, this child has had his own computer since the age of 2.... It's 4 of us in the family, but we have 7 (more-or less state of the art) computers I too was thinking of not rushing his introduction to real time market data - either daily charts or stored data for now.
I don't know who or what that is, but I don't think money is either good or bad - it is an inanimate object. It is we who can behave in good or bad ways with it. The earlier we learn how to deal with it, the more likely it is that we will not fall for its allure. A young person learning to work for a living -- and give to charity -- while having fun, is very good, imo
Yannis, Try this suggestion by NQoos - using the sim-broker should be similar to playing a video game which I think a teenager would rather do - sort of learning by playing. pretzel
Some parents force their kids to join beauty contests or talent contests. Others drive the kid hard to excel at sports etc. So why not teach your kid to have fun, enjoy life, rather than sit indoors at a screen tapping his childhood away. Let him go to college and have an education - trading like any other profession/business can be taught after the groundwork has been put into his education. Remember, he might fail as a trader, many do. An education gives him a chance to try something else. Forget your ego; give the kid his childhood.
Toby, No problem here, we are talking about a part time occupation during the summer. At his age, I was spending my vacations selling shoes at my uncle's store. He will only be devoting a few hours every day learning and playing the rest of the time. And, after all, it is his choice. Btw, he is having a great childhood, thank God.