Are there any laws in the USA prohibiting people from issuing their own money/currency?
I’ve been toying with the idea of making a school (junior-high) into a “micro-economy”; where students make and invest in their own companies, trade stocks and bonds, and so on…
As part of this, I want to issue a school-currency in the form of paper money. Students should be “paid” with this, and use it as the currency to buy “stocks” and so on. Ideally it should also be possible to use it to buy food in the cafeteria (obviously heavily sponsored by the school).
I know it was quite common in some countries in Europe for fishing and mining communities to issue their own money — especially when the company owned both the mine/fishery and the local store.
I was therefor wondering if there are any laws prohibiting private persons, companies and organizations from issuing their own currency in this way? (Of course assuming it’s quite different in appearances from any normal bill.)
I would go for No, as long as it is not a dollar bills or coins,with legal tender and in GOD we trust. These kinds of money are common,but fake currency and coins are rare.You can also print the money as real as possible to use in an action film.And there is also no law to prohibit you not to peg your money with a real dollar.
How to use stop loss or trailing stop orders effectively?
I am trying out Think or Swim Paper Trading and want to use stop loss or a trailing stop orders to protect my losses. However, I am wondering which is best to use and how to enter them in correctly.
Do I put either of those stop orders in initially when I purchase the stock or only after I buy it first??
Also, what is the best way to protect my earnings? If my stock goes from $20 to $30 and I would like to sell at $30, how do I place an order to sell once it reaches my target price?
Thanks in advance.
Last question first:
TOS (ThinkOrSwim) has an order type called OCO (One Cancels Other). You can put in a hard stop in and a limit order at the same time. This way if your order hits your stop it gets executed & the other order gets canceled…. Or the profit target gets hit and stop order is canceled.
A hard stop or a trailing stop depends on your trading style & the particular situation. In short your experience will work you through this dilemma. Generally speaking…. A hard stop that you trail manually is the best way to go. TOS has many types of stops. Dollar, percentage & chart based.
At the profit side for a long position use a limit (sell) order.
I put in OCO orders with my order (they go through at the same time)… But you can also put them in after execution. If you’re day or swing trading….. Usually “together” would be the best way.
TOS has a ton of videos. Check them out.
You’ve got the best platform out there. But…… It’s going to take you years to learn to use it since your real problem is what you don’t know about trading. If you can listen to the Shadow Trader on the “paper trading” demo do so…… It will introduce you to things you never thought of. It’s great for a somewhat experienced newbie. Don’t try to duplicate Brad’s trades…. Learn about trading from him and make your own trades.
BTW: A word of caution, “paper trading” with TOS or any other broker should not be used as an indicator of how you’ll do in real trading. The shorter your time frame the greater that is true.
Books to read;
I’ve used a lot of brokers (over time). TOS is my favorite platform. My 2nd favorite is TradeStation. Execution on TOS could be better….. But as a whole…. TOS makes me money.
Entrepreneur and Investing at 16 years old?
Here’s the lowdown, I’m 15 and 16 on Wednesday. I LOVE business! Literally I thought at first I just liked it because I like money. But then I have come to the realisation that business is on my mind 24/7, I think about possible business ideas, new inventions etc. My GCSE Business grades are straight Distinctions (A*s) and I already plan to study double business then an economics degree.
Business has become my passion! I have a great idea for a Social Media business with a niche that I think hasn’t fulfilled it’s potential yet! So I want to make the difference! Anyway the stock market has also gained my attention so much! I love numbers so it’s quite reasonable. I sometimes find myself randomly searching up quotes on yahoo finance haha!
For my birthday i’ve asked for several books including Richard Branson’s Screw Business as usual and the intelligent investor.
So my question, is it a good idea to plan my business and also learn to invest? (I’ll start by paper trading for about 3-6 months)
Also could anyone recommend any other books or idols? Currently I’m in love with Warren Buffet, Donald Trump, Richard Branson and Cameron Johnson!
Steve Jobs. Once in a lifetime.
insider trading law question?
Larry was working at his job at the landfill when he got off his tractor to take a break. He noticed some papers on the ground and went to throw them on a pile. As he held the papers he saw a confidential report from MegaCorp stating it would be announcing the development of a new super computer in two weeks. Larry has no relationship with MegaCorp. Larry mortgaged his house and borrowed all the money he could to purchase $200,000 worth of MegaCorp stock. Larry bought the stock for $32 a share. When the announcement was made public, MegaCorp’s stock skyrocketed. Larry sold his stock a few weeks later and made a huge profit. Larry has:
committed a criminal act.
done nothing legally wrong.
committed an act of improper insider trading.
violated SEC regulations but not the criminal law.
B. Done nothing legally wrong
To do something legally wrong he would have to either misappropriate the information or have some fiduciary duty. You can’t misappropriate something if you find it in a landfill, particularly if it was your job to work in the landfill. Obviously he has no fiduciary duty and he is miles from inheriting a fiduciary duty (he doesn’t even know who threw it in the landfill).
This one isn’t even close to the line.
I’m looking for printing standards for bearer securities listed on the stock exchange. Where can I get it?
I’ve got printing standarts to registration on the Niderland & Luxemboerge trade marks. And I need information to another..
Actually I’m loking for the paper for the securities, printing for the securities, guilloches, printing process e.t.c. Because every trade mark presents their own standarts. Thanks for Your help!
Here are a few links for you:
Washington Square Coin Exchange has a very informative article,and you might want to contact them if you have additional questions.
The American Bank Note Co. Prints many of the stocks and bonds in existence today.
And just in case you are thinking of printing a few of your own:
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