Out of the mouth of babe’s

As you may or may not know, I have been teaching my 9 year old son about trading. Throughout this last school year, whenever he had the assignments of “What do you want to be when you grow up,” he always wrote about being a trader. As a father, there is nothing I would love more then to see my son grow up to be successful, more successful then me in anything that he does.

For a son to want to be like his dad is nothing new. When I was doing real estate investing there was one morning Tao, who was about 3 at the time, comes and has me sit down at his playschool table. He says “I have this property here, and this property here, which one do you want?” As I pick my jaw up off the floor I couldn’t help but notice that he pays attention to EVERYTHING that I do and wants to be like me.

So now that he is older, and see’s some of the monetary benefits that trading affords our family, he wants to learn how to make his own money. I give him $5 a week right now for doing his chores and cutting the grass. It’s not much but my folks spoil their only grand kids. So I set him up with the mini account I have that has $125 in it and he will trade mini’s. His goal of 20 pips a day will make him $2 a day or $40 a month not taking into account % risk and compounding. I will manually take care of that for him.

I don’t want you to think that I’m forcing this on him, but I am taking advantage of him. How? By teaching him my basic rules and the rules for the trades, it FORCES me to follow the rules. If you knew my son, you would know he is big on right and wrong and never breaking rules which is a very good thing for a trader to have. He also has Zero fear of losing money or making money. Yes, I think at times traders can be scared to make money, taking full losers and half winners. I’m guilty of it ALOT and I feel like teaching him to stay in until your profit target is hit is making me do the same, and believe it or not I have made more money with him sitting next to me then me sitting by myself.

How committed is he to his trading? I woke up Saturday morning around 7:15am, and I found him sitting at his computer looking at charts and says “Nothing’s moved yet.” Another jaw dropping experience. “Tao, markets are closed on the weekend son.”

I will keep you all informed on how @MiniPipTee’s trading is going.