FX Family ValuesQ: What about your children, how did you teach them to trade?
A: Well, they’ve actually been even more prepared than we have
because they’ve done the business track at university. But even so,
they’ll concede that a lot of success really comes with experience.
Like my wife, my children and I will trade ideas back and forth.
We’ll call each other and say I think this is happening, I think that
is happening, and really try to come to a consensus. That way it’s
really within the family. Swapping trade ideas also helps to keep
our family very close. For example, my oldest son will call me on
a given day and say, “Hey, I did really well today.” And I may
say, “No, we did really well today, we made this much.” It’s a bit
competitive, but we also spend a lot of time sharing information.
My wife and I have been married for 29 years, and we have set in
stone since the beginning that our primary business is our family.
Q: Have your children adopted their own trading style, or do
they trade similar to you?
A: Their personalities will push them to do something different,
but they have taken the base from me and use it as a starting point.
Q: When you were teaching your kids to trade, was there any
time where you said, okay, if you made a certain amount that’s
what you could you spend it on? Did you encourage them to trade
in order to buy things, or was it just to build their saving?
A: In the beginning we would establish smaller trading accounts
if they said they wanted to learn how to trade. I would teach them
to keep risk low, but it was really up to them to make the money.
My only real guidance to them was to trade well, but to never guide
themselves solely by money or greed.
Q: How old were they when you gave them their FX accounts?
A: It’s been about a year and half.