About this template
Hey OA Community,
I wanted to share a quick bot I put together to help me teach my kiddos about markets and investing!
This bot aims to be a simple bot that introduces kids to trading and auto trading (eventually). The idea is encourage kids to invest their savings earned from allowances or a business (like a lemonade stand, sales of arts and crafts) or gifts from family and friends and teach them about why its so important to invest your savings and not spend it all. To do this we would create a separate bot dedicated to the kiddo housing their trades and managing their investment allocation separately.
So now let me introduce "The Karate Kid" a bot whose goal is to teach kids about investing:
In this initial iteration I had few goals:
- Focus on stocks only so they research companies (brands) they care about, feel like they are buying a small piece of it, and wonder whether the price to enter trade is right!
- Introduce kids to the idea of using dollar cost averaging and why it's important.
- Provide positive feedback/encouragement to keep going whether performance is good or bad
- Think about when/if to sell and what they would do next if they did sell (invest into another stock or buy that shiny object they've wanted)
Given the above this bot has the following:
- A "Buy" button with inputs that are entered when it is clicked. The inputs are the symbol, position size, and take profit level (exit options).
- A Sell All button to sell all shares
- An automation that triggers each week on Monday to buy a stock with similar inputs as the "Buy" button. There is a switch that can be toggled on in settings but is off by default.
- At the end of each week and month the Bot reviews open/total performance and sends a message with words of encouragement that one would share with your kiddo.
This is just an initial stab and I'd love to hear if the community has other ideas or creates other versions. I really think trading can teach kids life lessons in addition of course to teaching them about stocks, markets, and even probability later! The first trade has been executed by my kiddo and Disney shares were purchased.