Would you teach your Son to trade ?
Hi Peter,
I was just reading back through the forum and I came across this thread.
It's a really interesting discussion, can I ask how things worked out in the end?
Did your son learn how to trade? If so how long did it take, and was it a tough process for you both?
Thanks,
JP
I was just reading back through the forum and I came across this thread.
It's a really interesting discussion, can I ask how things worked out in the end?
Did your son learn how to trade? If so how long did it take, and was it a tough process for you both?
Thanks,
JP
Hi JP
Well in the end he decided it wasn't for him.
When I first started on betfair (2007) the only thing I was interested in knowing was "Is it possible to make money on Betfair". Simple as that.
I knew that if it was possible and someone else was doing it; i could too. I love a challenge.
You will always get people claiming to make £x/Year and I was a bit sceptical. Through various research and speaking to other traders, I came to the conclusion that it was possible and I started to look and learn. (my advice by the way, is that there is a lot of cr*p ou there; be selective)
It took me ages to find my niche (I almost gave up at one point), but I was able to find a few things that worked for me.
I thought that my son would jump at the chance to learn this (i would have given my right arm back in 2007), but the fact is, he wasn't interested.
Where did it go wrong? Well if I were to summarise it, I would say "he didn't trade like I wanted him to!" (Have you ever given your teenage child a paint brush and asked them to paint their room?), how long was it before you took the brush off them and did it yourself?
He still has a few bots running that I load each day but he never trades. it's just not his thing and that's OK; I dont want to force him.
To me; trading is a bit like life. You get out of it what you put in.
Last week the whole family was in Spain (courtesy of Betfair!). I got up up early each morning before everyone else woke up and set my systems up. Without trading, we would probably still been on holiday, but we wouldn't have been in such a nice Hotel and think the trade off (no pun intended!), is well worth the effort.
I often think about writing a "Step by Step" manual for my kids and leave it in my will! as they would miss the income if I popped my clogs tomorrow! the thing is; I honestly dont know whether they would take the advice??
I love em all; but everyone is different
Regards
Peter
Well in the end he decided it wasn't for him.
When I first started on betfair (2007) the only thing I was interested in knowing was "Is it possible to make money on Betfair". Simple as that.
I knew that if it was possible and someone else was doing it; i could too. I love a challenge.
You will always get people claiming to make £x/Year and I was a bit sceptical. Through various research and speaking to other traders, I came to the conclusion that it was possible and I started to look and learn. (my advice by the way, is that there is a lot of cr*p ou there; be selective)
It took me ages to find my niche (I almost gave up at one point), but I was able to find a few things that worked for me.
I thought that my son would jump at the chance to learn this (i would have given my right arm back in 2007), but the fact is, he wasn't interested.
Where did it go wrong? Well if I were to summarise it, I would say "he didn't trade like I wanted him to!" (Have you ever given your teenage child a paint brush and asked them to paint their room?), how long was it before you took the brush off them and did it yourself?
He still has a few bots running that I load each day but he never trades. it's just not his thing and that's OK; I dont want to force him.
To me; trading is a bit like life. You get out of it what you put in.
Last week the whole family was in Spain (courtesy of Betfair!). I got up up early each morning before everyone else woke up and set my systems up. Without trading, we would probably still been on holiday, but we wouldn't have been in such a nice Hotel and think the trade off (no pun intended!), is well worth the effort.
I often think about writing a "Step by Step" manual for my kids and leave it in my will! as they would miss the income if I popped my clogs tomorrow! the thing is; I honestly dont know whether they would take the advice??
I love em all; but everyone is different
Regards
Peter