US Paper Money Day 2018 is on Saturday, March 10, 2018: Day Trading (Software, Brokers)?

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Saturday, March 10, 2018 is US Paper Money Day 2018.

Day Trading (Software, Brokers)?

Hopefully you're aware that paper trading can never be considered a good way to judge real performance. Add to that fact-> since September the stock market has been rocketing to new highs. A monkey could do well in this market. So to believe you're ready to day trade real money... is most likely unrealistic.

Barron's magazine rates brokers every year. I believe ThinkOrSwim is one of the best choices for day & swing trading. They do have a Canadian division. The software can't be beat. They have every type of Technical Analysis charting you could possibly want;

Read;

Have you read any books on trading? If not... nows a good time to start;

Normally it takes 3-5 years (on average) to learn to day or swing trade.

Good luck. It's a time consuming..... hard road to go on.... but if you're one of the very

few that make it..... it's well worth the effort.

Amazon Gold Box

What is money? How did it start off?

What is money? How did it start off?

Money is a way to conduct trade without using barter.

You are right that money is often base metal and paper which only has a value because the government that backs it says it has that value. One power that is reserved for governments is the ability to mint (make) currency. Barter is usually a method of trade and exchange only used by primative peoples. Coinage and the invention of currency is one of the hallmarks of civilization.

The backing of the Bank of England, Fort Knox and other national banks provide strength to the currency and make it a hard currency since their money can be directly exchanged for an internationally accepted standard like gold.

Early currencies were based on various things; coins were common because they were hard and would wear well, but the Romans used to pay their solders in salt. In europe it became standard to use the base value of the metal to set the price of the coin. Later the coins were given an assigned value and made out of cheaper metals.

In the past the price of copper has exceeded the value of a US penny and people started melting down pennies to recover the copper. Now days the US government has made it illegal and they use cheaper metals like zinc as the core of the coin; only covering it in a thin layer of copper.

Once upon a time when people wanted to trade with each other they had to barter for it. A cow doesn’t equal a chicken and a chicken may or may not equal a bushel of grain. Barter economies are complex and there is no way to codify or control the market easily. Money provides the solution to that problem.

In it’s truest term money is a commodity manufactured by a government that has no value on its own, only a value decided by the government. For example the dollar can be traded for a dollar’s worth of gold, it is based on the gold standard and that makes it a ‘hard’ currency. When the price of gold goes up the value of a dollar also increases. The Russian rubble had a value assigned to it by the Soviet Union and they had only the government’s word backing it, that was a ‘soft’ currency. When the Soviet Union fell the value of the rubble plummeted. Few people liked to get paid in rubbles since it was only tied to the word of the Soviet government it had no real value.

Having too many currencies can be a problem. The European Economic Community banded together to make trade easier and to make it even easier they changed to a single currency; the Euro. That makes trading between England, France and Germany easier than it is to trade between the US and a European nation.

Currency speculation is when someone buys dollars with another currency expecting the price of the dollar (or some other currency) to go up; then they will sell their dollars for a profit. The market is rife with currency speculation, it is as common as trade in stocks and other commodities.

According to Wikipedia:

“Money is any token or other object that functions as a medium of exchange that is socially and legally accepted in payment for goods and services and in settlement of debts. Money also serves as a standard of value for measuring the relative worth of different goods and services and as a store of value. Some authors explicitly require money to be a standard of deferred payment.”

According to Wikipedia:

“A currency is a unit of exchange, facilitating the transfer of goods and/or services. It is one form of money, where money is anything that serves as a medium of exchange, a store of value, and a standard of value. A currency is the dominant medium of exchange. To facilitate trade between currency zones, there are exchange rates, which are the prices at which currencies (and the goods and services of individual currency zones) can be exchanged against each other. Currencies can be classified as either floating currencies or fixed currencies based on their exchange rate regime. In common usage, currency sometimes refers to only paper money, as in coins and currency, but this is misleading. Coins and paper money are both forms of currency.

In most cases, each country has monopoly control over the supply and production of its own currency. Member countries of the European Union's Economic and Monetary Union are a notable exception to this rule, as they have ceded control of monetary policy to the European Central Bank.

In cases where a country does have control of its own currency, that control is exercised either by a central bank or by a Ministry of Finance. In either case, the institution that has control of monetary policy is referred to as the monetary authority. Monetary authorities have varying degrees of autonomy from the governments that create them. In the United States, the Federal Reserve System operates without direct interference from the legislative or executive branches. It is important to note that a monetary authority is created and supported by its sponsoring government, so independence can be reduced or revoked by the legislative or executive authority that creates it. However, in practical terms, the revocation of authority is not likely. In almost all Western countries, the monetary authority is largely independent from the government....

The origin of currency is the creation of a circulating medium of exchange based on a unit of account which quickly becomes a store of value. Currency evolved from two basic innovations: the use of counters to assure that shipments arrived with the same goods that were shipped, and later with the use of silver ingots to represent stored value in the form of grain. Both of these developments had occurred by 2000 BC. Originally money was a form of receipting grain stored in temple granaries in ancient Egypt and Mesopotamia.

This first stage of currency, where metals were used to represent stored value, and symbols to represent commodities, formed the basis of trade in the Fertile Crescent for over 1500 years. However, the collapse of the Near Eastern trading system pointed to a flaw: in an era where there was no place that was safe to store value, the value of a circulating medium could only be as sound as the forces that defended that store. Trade could only reach as far as the credibility of that military. By the late Bronze Age, however, a series of international treaties had established safe passage for merchants around the Eastern Mediterranean, spreading from Minoan Crete and Mycenae in the North West to Elam and Bahrein in the South East. Although it is not known what functioned as a currency to facilitate these exchanges, it is thought that ox-hide shaped ingots of copper, produced in Cyprus may have functioned as a currency.

It is thought that the increase in piracy and raiding associated with the Bronze Age collapse, possibly produced by the Peoples of the Sea, brought this trading system to an end. It was only with the recovery of Phoenician trade in the ninth and tenth centuries, that saw a return to prosperity, and the appearance of real coinage, possibly first in Anatolia with Croesus of Lydia and subsequently with the Greeks and Persians.

In Africa many forms of value store have been used including beads, ingots, ivory, various forms of weapons, livestock, the manilla currency, ochre and other earth oxides, and so on. The manilla rings of West Africa were one of the currencies used from the 15th century onwards to buy and sell slaves. African currency is still notable for its variety, and in many places various forms of barter still apply.”

Who sings that song, I’ve been down on ya baby ever since the day we met, ever since the day we met?

Who sings that song, I've been down on ya baby ever since the day we met, ever since the day we met?

ARTIST; Primitive Radio Gods

SONG NAME; Standing Outside a Broken Phone Booth with Money in my Hand

Lyrics:

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

Jan lays down and wrestles in her sleep

Moonlight spills on comic books

And superstars in magazines

An old friend calls and tells us where to meet

Her plane takes off from Baltimore

And touches down on Bourbon Street

We sit outside and argue all night long

About a god we've never seen

But never fails to side with me

Sunday comes and all the papers say

Ma Teresa's joined the mob

And happy with her full time job

Do do do do doo do...Do do do do doo do...

Do do do do doo do...Do do do do doo do...

Do do do do doo do...Do do do do doo do...

Do do do do doo do...Do do do do doo do...

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

Am I alive or thoughts that drift away?

Does summer come for everyone?

Can humans do as prophets say?

And if I die before I learn to speak

[ Find more Lyrics at www.mp3lyrics.org/ElpV ]

Can money pay for all the days I lived awake

But half asleep?

Do do do do doo do...Do do do do doo do...

Do do do do doo do...Do do do do doo do...

A life is time, they teach you growing up

The seconds ticking killed us all

A million years before the fall

You ride the waves and don't ask where they go

You swim like lions through the crest

And bathe yourself on zebra flesh

Do do do do doo do...Do do do do doo do...

Do do do do doo do...Do do do do doo do...

Do do do do doo do...Do do do do doo do...

Do do do do doo do...Do do do do doo do...

I've been downhearted baby,

I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

I've been downhearted baby,

I've been down--I've been downhearted baby,

Ever since the day we met

Ever since the day we met

Also on this date Saturday, March 10, 2018...