Today’s guest post is from Jessica Peletier. Jess is a private trader, blogger, writer and Twitter Fiend. She trades intraday FX and equities using simple technical analysis. You can follow her blog at www.roguetraderette.com.
One of the biggest draw-backs about living in a tiny beach shack is the lack of any form of office.
My trading lair literally consists of me in an armchair, with my lap-top on my lap (I know – how novel!) and my TV doubling as my second trading screen.
It’s a little unconventional but it works perfectly well – perfectly well, that is, until my kids get sick. Like today.
Today, I have 2 kids sitting on the couch looking at me mournfully while I watch my charts set up.
They’re waiting to watch a movie which obviously in kid-world is a God-given right when you’re sick. Sadly, they’re in for disappointment.
So instead of getting cross and telling them to nick off – I would never do that to sick kids, they might sneeze on me in cold-hearted revenge – I’m explaining what’s happening on my chart. I’m asking them if it’s going up, or going down, and whether they’d buy it or sell it.
My sick kids are 4 and 8, and I reckon they can pick a trend better than the average adult.
And I’m not the only one nurturing child prodigies – another Aussie trader has a two year old that tells him his chart is ‘broken’, which invariably means the trend has changed. Personally I think he might have bred the next stock-picking octopus equivalent, but who am I to judge?
Fast Forward 15 Years
As a kid I never saw my parents doing anything to do with money. They never discussed their investments – although that’s probably because they didn’t have any – and never really discussed how they ran the family budget until we were adults.
Things are different these days. We tend to be more open about money with our kids, not so much the exact figures necesarily, but what we do with what we have. This includes what we give, what we save, why we save and even things like insurance and of course our investments.
My kids already know things that I had no idea about when I was in my 20’s, like investment property and share charts, and I can’t help thinking that if they have this kind of exposure now, by the time they’re adults they could easily have their 10,000 hours – ala Malcolm Gladwell’s ‘Outliers’ – done and dusted.
At the very least they’ll have learned a whole new level of financial literacy that not many of us could have hoped for growing up. My daughter, at eight, already understands that a big red candle is beautiful because you can make money on the downside.
All I knew at eight was that my pocket monet could buy me 10 caramel cobblers on a Saturday morning.
The internet has been revolutionary for ‘normal’ investors like me, people who don’t work professionally in the industry but run a trading business from home. We have access now to instant prices, where all our parents would have had is yesterdays prices in the newspaper.
We have real-time charting, where our parents would have had to chart any prices by hand – and let’s face it, that takes some commitment. There’s no way people who hand-charted were doing it for laughs and as such they were few and far between – I would suggest almost non-existant in non-professional circles.
“Just getting the stock prices, darling!”
But our kids are the ones who’ll be killing it, investment wise – they’ll have access to the things we now take of granted, but they’ll be able to use them without the huge learning-curve we faced once we were adults.
Our kids are going to reach adult-hood entirely proficient, with the steepest part of the learning curve well behind them because they are growing up surrounded by charts.
They are being taught the things we could only learn as adults while they’re still children. And if we can nurture the same passion we have for trading in our kids, I believe in the next 10 years we’ll be seeing a whole new generation of traders like the world has never seen.
What bclund is, is the intersection of markets, trading, and life (with some punk rock, pop culture, and off-beat humor mixed in).