Young Person

[wonderrman]

Prolly saw the `young person` thread and thought to stretch it a bit.

That's exactly why I don't like telling people my age. No one ever takes you seriously.

What do I need to do to prove my age?

 

[Wysiwyg]

That's exactly why I don't like telling people my age. No one ever takes you seriously.

What do I need to do to prove my age?

No worries matey, I will imagine you have been around the financial markets for awhile and are over 25.

 

[Cartman]

That's exactly why I don't like telling people my age. No one ever takes you seriously.

What do I need to do to prove my age?

u dont have to prove anything ----- but i reckon yr closer to 30 than 16 ---- does that concern me?? --- not in the slightest --- u talk too much sense for a 16 y.o. --------- if u talk sense i dont care whether yr 16 or 60 !!

 

[Julia]

Well, we're all guessing aren't we. But I'd lay odds on this individual actually being a bright 16 year old. I know a couple who are quite as smart as this, so it's not impossible.

 

[wonderrman]

No worries matey, I will imagine you have been around the financial markets for awhile and are over 25.

u dont have to prove anything ----- but i reckon yr closer to 30 than 16 ---- does that concern me?? --- not in the slightest --- u talk too much sense for a 16 y.o. --------- if u talk sense i dont care whether yr 16 or 60 !!

What ever keeps you guys sleeping at night I guess

Well, we're all guessing aren't we.

So instead of being honest about my age I should lie about it in future? So people will take me seriously.

 

[Julia]

So instead of being honest about my age I should lie about it in future? So people will take me seriously.

Make the most of it. In ten years, I can assure you it won't be an issue.
Then in another ten years, you will be thinking fondly of the time you were 16.

 

[wonderrman]

Make the most of it. In ten years, I can assure you it won't be an issue.
Then in another ten years, you will be thinking fondly of the time you were 16.

Will do!

 

[prawn_86]

Wondermann,

Firstly good on you for starting young.

Secondly, remember that you are young. Im assuming your still in high school, so you should be making the most of it. Chasing girls, playing sports while your body is reaching its physical prime, drinking copious amount while you dont get hangovers etc etc

Make sure you enjoy your youth/the moment also, rather than constantly looking forward

 

[Nyden]

Wondermann,

Firstly good on you for starting young.

Secondly, remember that you are young. Im assuming your still in high school, so you should be making the most of it. Chasing girls, playing sports while your body is reaching its physical prime, drinking copious amount while you dont get hangovers etc etc

Make sure you enjoy your youth/the moment also, rather than constantly looking forward

You certainly should not be encouraging the lad to drink, Prawn; at 16 - this is illegal :

Wonder, may I ask as to how you even trade? Correct me if I'm wrong (anyone), but do you not need to be 18 in order to execute an order? Furthermore, if your parents have setup an account in their name for you ... well, what are the legal complications here if something were to go horribly wrong? Such as buying $100 bucks worth of Brisconnections stock?

 

[Trembling Hand]

Wonderrman Forget the "enjoy your youth" approach. Go in balls and all for what ever you have an interest in. The world is full of people enjoying their moment. We don't need more of them.

The world is made better/interesting by the ones that go their own way. And mostly doing it before the rest of the world thinks they should.


I say blow the world, go get what you want now.

 

[prawn_86]

I say blow the world, go get what you want now.

I agree TH, hence why i still encouraged him and said its great to see him starting early. By all means keep trading/investing and learning, he's already way in front of the pack, but remember he is still young and has a lot of time on his side.

It would just be a shame that if at some stage in his life he woke up and thought "man i missed out" (on something or other), so he should still enjoy himself now, as we are only young once after all

 

[theasxgorilla]

I say blow the world, go get what you want now.

Exactly. Leverage starts working from the time you apply it...not just with money but with effort and focus.

It's almost impossible not to enjoy your youth (even if you don't yet realise you're enjoying it) so might as well make it productive.

 

[wonderrman]

Im assuming your still in high school, so you should be making the most of it. Chasing girls, playing sports while your body is reaching its physical prime, drinking copious amount while you dont get hangovers etc etc

Haha that's exactly what happens on the weekend. We're on holidays at the moment as well so a lot of money has been wasted on drinks, the alcho pop tax is a killer.

Don't worry investing isn't my whole life, still love my footy and cricket and the laddies. I keep the investing hobby separate and secret really. My family members and people in the 'fund' are the only ones who really know I do it. Life is about having fun I reckon, you would have the most boring life just sitting around reading about different stocks all day. Socially I love be young don't worry bout that.

Correct me if I'm wrong (anyone), but do you not need to be 18 in order to execute an order? Furthermore, if your parents have setup an account in their name for you ... well, what are the legal complications here if something were to go horribly wrong? Such as buying $100 bucks worth of Brisconnections stock?

Yep no worries we thought it would be easiest to set up a company because of tax. My mum acts as the director, as you said I'm not 18 so I can't legally trade. The partnership structure was also alternative but it costs $600 to set up. My uncle will do all the tax work at the end of the year as he is an accountant.

Something going horribly wrong ... we'll we don't really have that much in place because I'm really not that stupid to be frank. I conduct thorough research into companies before I invest and have a set criteria before I invest in a company. A lot of things simply go into the to hard basket because if I can't get my head around the business and numbers I don't want to own it. I don't invest in banks/most fin services as well as they're to hard to analysis. There are a lot of other better opportunities out there anyway so I don't know why anyone would own a bank.

So yeah basically it comes down to me not being an idiot I guess. hope that explains it

 

[MRC & Co]

I traded many times as a teenager and used to do it myself, just go visit one of Mr Morgans brokers.......

So not sure about the 18 age restriction..........don't remember having any problems. Maybe a parent signed something the first time, but was 12 back then, too early to remember.

 

[wonderrman]

I traded many times as a teenager and used to do it myself, just go visit one of Mr Morgans brokers.......

So not sure about the 18 age restriction..........don't remember having any problems. Maybe a parent signed something the first time, but was 12 back then, too early to remember.

12! Started real young. The 18 age restriction doesn't really matter to much. We go through a company structure and everything is basically done online. I'm a power of attorney so I can basically sign for and have all the powers of the director anyway.

cheers.

 

[mayk]

I agree TH, hence why i still encouraged him and said its great to see him starting early. By all means keep trading/investing and learning, he's already way in front of the pack, but remember he is still young and has a lot of time on his side.

It would just be a shame that if at some stage in his life he woke up and thought "man i missed out" (on something or other), so he should still enjoy himself now, as we are only young once after all

\

I was under the impression that a MAN is always young.:

IMHO university life is much better to enjoy/learn than HS.

 

[EverydayTrader]

Good on you for having a go. I too started trading the stock when i was about your age, i must admit i did not set the trading world on fire to start with and caught the end of the internet bubble, but i learned a heap.
Keeping at it, the markets can be a get rich quick road...but generally are not. Be prepared for ups and down. Continue to learn from your mistakes. And always use a stop loss!

Good luck

 

[michael_t_f]

Due to my business I deal with people aged around 16 pretty much every day. These young people don't have a clue about anything outside of MTV and Myspace and I would not even bother trying to discuss the stock market or current world events with them. I just can't imagine one of these young people even being able to grasp the concept of a small business. Anyway if you are 16, you must be some kind of freak, or one of those asian kids that are super smart that get beaten if they don't get straight A's.

 

[wonderrman]

I just can't imagine one of these young people even being able to grasp the concept of a small business. Anyway if you are 16, you must be some kind of freak, or one of those asian kids that are super smart that get beaten if they don't get straight A's.

All right mate bit harsh there. No I'm not Asian and not a freak. I think you need to remember that not everyone is exactly the same. We're all different arn't we? Don't think I'll be writing on this topic anymore, it is to annoying having to continuing try and prove that I'm young. You can believe it or not, as I said, don't really care.