I want to know if it right for children that are of 10-15years go in to trade or not because I have a kid friend of about 14years and very eager to learn trading but am scared of the lost and how long it will take him to understand what his doing, because it hasn't been very easy for me. So what your opinion please I need help? because I think is too risky for them to go in to trade for now.
At this age, even if they are going to possibly verify their trading account wit the document of an older relative, I think their brain is not well developed and ready to handle the technicalities and stress that comes/goes with trading..
But I believe it is a good time for them start learning by the way, and learning does not mean they should start trading with real money, open a demo trading account for them(if they are more than one), with a visual $100 each and allow them to start playing with that, check their progress with the trading every week to see how they are fairing, even if they are doing fine, don't be in a hurry to move them over to a live trading account, allow them to trade demo until they turn 18 or more, if they take the demo trading serious, they could become real professional traders by the time they are set to start trading live.
This idea is indeed good,but I think children between 8-14 are not supposed to start or engage in anything that has to do with trading at that age because I think if they should start it, addiction is real,and by that age range,they will definitely be losing,whether it's a demo or it's a live trading,the actual age that I think it's suitable for them is 18 and above,atleast at that age,they know what to do with the money they have,and they will also have feelings when they lose money,which will make them think twice while trading.It will push them into researching and looking for ways to get to know how the market operates.They will also learn the different strategies involved in trading at that age.
We shouldnt really force them out because it would really be that something thats too much for them if we do really force out on teaching them specially that they are still young for them to learn about finances
which we know that it would really be better that they should really be cherishing out their childhood rather than on focusing about financially literacy or whatsoever that it is really that connected to it.It would most likely be turning out on something that would really be that stressful if ever you would really be that forcing them to learn which it is still early or out of their interest.
The only time that you would be considering on doing so, is on the time that they would be asking about it or they do show off some hints that they are really into it.
This is where you would be sitting in and would be explaining things gradually and not on a rushed manner.