The sooner we teach/show/demonstrate to kids and teenagers the various aspects of money, the quicker we are setting them up for longer term success. We have an awesome example of that thanks to a Grandpa leading by example. Our guest, Kainoa (same alias in chat room), had great parenting which jumpstarted his financial journey and has lead him to focusing on goals that will benefit him greatly. This is a discussion for both young and older traders as there are multiple angles and viewpoints...
The sooner we teach/show/demonstrate to kids and teenagers the various aspects of money, the quicker we are setting them up for longer term success. We have an awesome example of that thanks to a Grandpa leading by example. Our guest, Kainoa (same alias in chat room), had great parenting which jumpstarted his financial journey and has lead him to focusing on goals that will benefit him greatly. This is a discussion for both young and older traders as there are multiple angles and viewpoints that I believe can offer helpful insights to all. Let’s get to it! Notes: Today we interview community member Kainoa who goes by the same alias in the community. He remembers when he was in college his grandfather took him with to his financial advisor and started to learn about compounding interest. Kainoa saw a friend of his posting on social media about trading in the stock market and inquired about what he was doing. This led him down the rabbit hole of Youtube and trading. He was smart enough to see some red flags for who was trying to sell people a lifestyle versus a systematic approach. After taking extremely detailed notes on the courses, Kainoa started trading live which entailed some success and some failure. Revenge trading was a stumbling point for him but it’s more important that he recognized it early. Kainoa is extremely intelligent but his ambition is also his worst enemy. After realizing that this will be a slow and steady process, he took a step back from the market and reassessed his goals. This led him to a longer term time frame look at charts and continuing to enjoy the fruits of his full time job. After talking with Clay, there are some options presented that may fulfill a few goals Kainoa has in regards to swing trading and day trading. They also have a good conversation about personal finance in terms of funding other accounts and heading toward future goals. Quotes: It was pretty cool seeing my grandfather go through his retirement portfolio. Before I got involved I knew I wanted to do it properly. I wasn’t willing to invest in these guru’s because they seemed a little shady to me. Those losses would lead to revenge trading where I would repeat the same thing… being to aggressive and being emotional. I would categorize my trading as sloppy. I’m so eager to trade I take a wide variety of setups.
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