Teach Your Children Well : Forex Trading

If you’ve never done forex trading online, you are missing out on one of the great thrills of life. It is sort of like playing chess, in terms of being able to think ahead and see patterns develop, but with computers. It could be very much like playing a video game. The difference is that one can accumulate, (and lose) real wealth fairly quickly.

We used to joke (my friend Vladimir and I)  that it would be very easy to explain the rules for forex trading to our kids and give them an account and that they would be able to learn to be profitable in a very short period of time.

Indeed, Vladimir had a trading platform, and the ability to provide education, training and coaching so it was possible. Unfortunately, as intelligent as we thought our kids were, they had not interest whatsoever in trading Forex.  One of my sons, then maybe 9 or 10 at the time, did a soft hack on his X Box so he could have custom Halo maps, and extra powers. This was the child we discovered who was gifted in music, language ( he can read Latin), among other things- but not necessarily computer science.

My second son who went on to win prizes at Hack-A-Thons in high school, studied computer science, now at enrolled in the Department of Game Design at the Tisch School of the Arts said to me back then, “So Dad, if it is soooo interesting and , sooo cool, why aren’t you doing it?”

Great question, here’s the answer: the issue is that adults are risk averse, and are very emotional about money and the possibility of loss. Most adults get to the point that life is not about winning the one big hand and cashing out, but rather enduring through the seasons. The majority will risk a couple of bucks on lottery and scratch off cards, but nothing that requires effort, learning and possibly larger rewards. Small risk = small reward.

On the other hand, children are much more easily able to play, learn and don’t see life in a risk reward context.  Playing involves focusing on playing . Sounds a little simplistic but let me explain further.

Children can invent games to amuse themselves. Indeed, if anything the consensus is that we have taken that away from the most recent generations by making everything literal and digital. Youth of the past 20 years have mocked how literal the adult world is and the fact that it excludes creativity.

Most of the interesting people that you meet today are creators of sorts. People who are craftsman, artists, musicians, writers, dancers, filmmakers, videographers, actors, investors, teachers, entrepreneurs, and gamers.

Watch a couple of 4 years olds get together on a playdate ( yeah I know a playdate eww). They will take whatever is handy, create a scenario , apply some rules to it and then begin playing.

They don’t need to execute or implement, they just do. In fact, if they add another child to the game , they make the adjustment tot he rules to include the extra kid. This is why the sandlot  and sandbox  concept is so important, you have to try things out.

Giving kids a sandbox with Forex to play in is a great concept and I wish we went ahead with it.  Kids would be able to play by the rules, be fair, and learn how to play a game well. Then repeat the work systematically, and in time, become experts.

So anyway, when I ran across this article about Sandile Shezi of South Africa it really didn’t surprise me that he was successful. What did surprise me is that his parents who probably worked very hard for his tuition money, invested in their son’s business venture when in their hearts, they might have felt it was very risky business. What didn’t surprise me it that that Sandile wanted to teach forex trading to others living in Africa.

Matthew Maginley

About Matthew Maginley

We provide help to business owners who desire to get to the next level with their business. Bringing over 20 years of corporate Fortune 500 ad agency experience and "street smarts" from working with entrepreneurs and local business owners.