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Even though the minor trading issue has been beat to death... The deal is a
contract, such as a futures contract, that is entered into with a minor is
enforecable only at the discretion of the minor.. Therefore, if the kid wants to
back out of a deal, trade, etc., the broker has to let him.
TQuinn211@xxxxxxx wrote:
> Chris,
>
> Thanks for the additional work you have put into my original concept posted on
> this site. It's flattering to be called Mr.Quinn. That phrase was usually
> reserved for my dad. I prefer Terry, even though I am way over 16 years of
> age.
>
> As a side note to the 16 year old thread, the only legal contract in most
> states that someone under age 18 can enter into is a Life Insurance contract.
> Just shows how strong that Lobby is! So anyone under 16 trading anything is
> either breaking and/or avoiding the law. The morality/rationality/ability
> discussion most likely doesn't belong on Real traders anyway.
>
> In regards to your post and comments on the x-bar concept:
>
> A few points of clarity might be in order.
>
> It is not the close that establishes the three point rule but the "my price"
> plot which is the average of the open, high,low and close. This might change
> some of your colored bars, and actually give you an earlier signal.
>
> Here is another rule for you to consider. 8 "my price" plots above the center
> moving average regardless if the are outside the upper band.
> The mirror image would also identify a change in trend to the downside.
>
> >From the rest of your post it is apparent there may be some confusion as to
> the primary intent of the of the X-bar indicator, and I may have been the
> cause of that confusion.
>
> When I first posted the indicators I mentioned that they contained the
> foundation to create a system- I did not mean to infer that it was a complete
> system in itself.
>
> The X-bar indicator group has the primary purpose to identify the Trend (Up,
> Down, or Sideways) to keep us on the right side of the market. It, by itself
> is not used to signal a trade entry. (Three consecutive plots outside the
> upper band - buy the opening and Full Steam Ahead!!)
>
>
> It is a trend indicator and trend indicators have 3 primary purposes.
>
> Should I trade this Market?
>
> Using What Strategy- Trending or Congestion?
>
> Are you sure you want to take that countertrend trade and what evidence do you
> have to support the notion of the going against the trend?
>
> All this is indicator can say is "Trade this Market from the Long Side"
> If the indicator suggests congestion, trade a congestion strategy.
> If the statistical evidence says to be short the market then short it.
>
> It has been my experience that using the same indicator to identify trend and
> act as the set up for a trade usually don't work that well.
>
> So when I pointed out indicator said to go long, the trade entry criteria was
> not discussed, because it could and would differ based upon ensuing price
> action. I use more than one set of rules to initiate a trade. (BTW This is
> the typical weakness to most mechanical systems. Only one trade entry rule.)
>
> Close out position rules would differ as well and as you pointed out, were not
> discussed.
>
> Trust this helps and does not make the waters any muddier.
>
> All the best,
>
> Terry
>
> RE: Displaced Moving averages: I would never consider using DMA as a trend
> indicator but they might have some limited use/benefit to initiate a trade.
> Some elliott people use them to enter counter trend trades as part of a fifth
> wave reversal strategy, but only in the 5th wave. Since I don't pretend to be
> an elloitt expert that is about all I can say.
>
>
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