Should I allow my children to use Forex trading simulation games?

Martin, That statement in itself is something one hears frequently - It is a sure sign that the opinion must be investigated in depth and an explanation of “WHY” the statement may be valid demanded ?

It is usually a good sign that the statement is being made by someone who does not really understand and therefore is unable to explain their view. They choose to use the “Strict Parental Approach” to evade the necessity for further explanation.

In it’s application to children, it is an attitude more appropriate to a time when children and women were thought of as “Delicate flowers who needed to be protected from reality” - in the 1900s to 1950s perhaps.

“Appeal to Venerable Authority” is a well known and well documented “Logic Fallacy”

Now I am Not saying your missus does not know what she is talking about, but we have no evidence as to what level she has studied the subject at ? What qulaificatios she holds and what papers she has written on the subject ? - Ergo we have nothing to make that judgement on.

Sadly that statement is simply incorrect and clearly an opinion of someone who has never read ANY of Dr Eric Berne’s stuff !

His whole analyses are based on the interaction of the internal “Parent, Adult and Child” and he explains in great detail with copious examples how we as “parents” or “Inflluencers” can completely and unintentionally insert behaviour and thought patterns into our children, which mimic our own biases and thought patterns. We write their life scripts and it is hard for a person with a bad script to change it !

He gives an example of a loving mother who tells her child in a moment of frustration “You’ll end up in prison - you will”

The child is a good child and relies on his mother for leadership and understands that this is what is expected of him. The forecast is forgotten, but his “Child” (inner child approximately equals subconscious mind) knows the truth and works away in the background to make his destiny come to fruition. Sure enough as a young adult, he is sent to prison.

Berne says that the statement only needs to be repeated once or twice to make it a part of the child’s “Life Script”

Berne was the father of “Transactional Analysis” out of which came other interesting stuff you may have heard of - “quick fixes” like - Neuro Linguistic Programming and Cognitive Behavioural Therapy !

His own books “Games People Play”, “I’m ok you’re ok” and “What do you say after you say hello?” are truly informative and well worth reading for parents and child carers. Some (Myself included) would say “Essential reading”.

A decent book written by one of his followers is this

https://www.amazon.co.uk/Scripts-People-Live-Transactional-Analysis/dp/0802132103/ref=pd_sbs_14_1?_encoding=UTF8&psc=1&refRID=7XC6YCGD3GD4PHTNEMV9

And you say “It doesn’t apply to chldren” ???

A friend of mine is a qualified medical doctor (You have to be in the uk to become: ) A Chartered Psychologist, Trauma Specialist and LAw Society Accredited Expert witness. She is in great demand by Health Authorities throughout the country to intervene in issues of child (and parent) behaviour.

She has often said to me “Children need to know the truth” They must be told the truth in order to make sense of the world. Children are incredible resilient, they can cope with ANything - But they must be told the whole truth ! and then have is talked through with them.

If that means getting them a “demo account” on Forex - so be it !

"Not UP FOR DEBATE " ? _ No mate not only is it “Up for debate” - but debate and discussion are ESSENTIAL !

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Fair enough, and thank you for respecting my wife, i appreciate it.
but i will say this

the OP asked for an opinion
i gave my opinion
i also gave the opinion of my wife who is (as i claimed based on fact that i understand) an EXPERT

Now. am i willing to produce her credentials here on the site… NO
i just asked my wife to give me her thoughts on the matter,
she is not a member here, we don’t need to go into her details , nor do i need to lay them out for everyone

if the site and the OP want to accept it they can, if they don’t want to… that’s also ok
at the end of the day, qualifications or not, it’s their kids, not mine

they should seek the opinion of a paid professional if they want to know , but since they asked on this site, it was clearly more of

  • i don’t really want to pay for it, but just want to know your opinion , kind of thing

  • since that is the case, i gave it

i’m not going to go beyond that, nor do i really care to go that deep into it , and i’m not being rude or defensive, i’m just saying , i am only prepared to go SO deep, into this subject , before i decide, it’s no longer worth dealing with.

but i can appreciate your comment
and if something is that critical, then yes, we require proof and validation, but this is not at that level, IF IT IS, well then, they should see a paid professional. simple .

yes i have heard of them.

and i can respect that COMING FROM YOU… ok
but also the debate only exists if i care to debate it

Honestly mate, I don’t want to put in a large amount of time into this debate, after all they are not my kids.
what they do with their kids is their business
so even though i don’t care to go too far into this topic, i do still want to give you the respect of some sort of response ok
because you at least took the time to write that answer

but honestly, say what you will , that i’m avoiding that, whatever…
truth is… I don’t see the benefit into going into this subject in detail

from the beginning , i was only responding to given an opinion, not to go into a full on debate
so that’s where my care level is at on this topic, if it was a different topic , it might be a different matter

be cool mate, thanks for the reply though

I think it’s not a good idea. It could bring two outcomes. It can lead them to gambling. Or they can be good in trading related activities. I think children should give the freedom to find their passion. Give the environment so that they can evolve their creative faculty. Just teach them how to differentiate between right and wrong. Rest leave to them.

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You are 100% right! :slight_smile:

I would like my kids to play these games. I would not expect them to be an expert by playing them. Maybe, I am hoping that it would interest them somehow. I have, in the past, suggested games to my kids; some they liked, some they didn’t. I think the next question we should ask is, would these games interest our kids?

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If kids like to spend their free time this way, let it be. Forex also teaches to be financially competent and to manage your funds properly.

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Thanks for the book reference. BTW I agree but I said that already.

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Believe me they interest!

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You’re very welcome.

It does start off assuming you know something of what TA is - and you may find “I’m ok You’re ok” (Harris) a good primer, and that one refers to some of the “Games people play” (Berne) - which is a book you will finish with the feeling that you can now “see” as though you had been blind for your whole life and now have been granted the gift of sight !

I bought “Games” at the airport waiting for a flight to Majorca with my Fiance. Read it on holiday , and as soon as we got home, I ran like hell away from her ! - Saved me from a truly dreadful mistake ! - Life changing stuff, which is there for all to see, but at the same time “Invisible” !

@Falstaff, interesting you should ,mention these two book in particular. Yes I have read them maybe some 40 years ago… It’s time for an update to my lil brain…

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but these books are classic! :slight_smile:

@CryptoAnnie, they sure are but the issues are as old as mankind!
obviously men are from Mars and women are from Venus :wink:

You forgot to mention hat is 21h century :smiley:

I think that if the game resembles gambling more than trading children probably shouldn’t play it. If it’s all trading, I don’t know. It depends on the age of the children. Frankly, I wouldn’t let anyone under 14 play even a trading-based game. Children that age don’t have a full concept of the importance of money or their earning yet to even simulate playing with them.

@CryptoAnnie, He Haw very good one, I wish I could attach our funds founders lucky Pip Derby, it’s about the coolest hat I have ever seen.
Thx for the feedback.

Berne speaks of things like Alcohol and smoking where kids are told You need to be (whatever age) before you can do that. - SO the kids absolutely can’t wait to get into it - BECAUSE it is “Grown up”

Just let them play - they’ll get bored and wander off - or else - they’ll follow in Mum’s footsteps - how bad can that be ?

[Edit - better surely that they experiment with you there to “catch them when they fall” - than they grow up and go experimenting on real money accounts, without any guidance ? - Bring them in here to discuss their tactics ! :sunglasses: ]

If you want too then you should, but you need to supervise them.

How exactly would you do that ? and why ?

Teach your kids anything and everything. Hiding them trying to protect them only hurts them and holds them behind.

Just remember to ‘teach’ is to guide - not just blindly letting them figure it out themselves. Everything is a double edged sword.

Most importantly - kids should like it. You shouldn’t force it. And if a kid likes it, then let him do it. There won’t be anything bad from it.