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Plan the Trade

  • #10,801
  • Edited 6:55pm Feb 24, 2019 2:39am | Edited 6:55pm
Quoting hilmy83
futures brokers CAN trade against their clients. you'll find it in the account contract. Nothing wrong with it, they're taking the same risk by doing that. SIPC doens't cover futures, just equities and we have higher chance of blowing our accounts than worrying about the off chance that a broker goes insolvent..why worry about this? reason forex sucks compare to futures is that your pricing/spread and leverage is broker controlled rather than based on a centralized exchange. Meaning that all players play by different rules depending on where they...
Did a bit further research on this specific contract item we are required to sign. It seems logical for brokers to put this "disclaimer" to make their customers aware of it. Since we are trading commodities and indexes on a centralized exchanges with order flow transparent to all market participants, conflict of interest is simple unavoidable. It's like telling everyone who works for all brokers and market intermediaries and their family members "sorry, you simply cannot trade futures anymore". I think the "intent and the overall outcome" is what will catch the eye of the compliance and regulators if someone on the "inside" is trading with overblown and unrealistic profits.

I feel this market-based self-governing regulatory bodies is designed to catch the big boys or their traders who attain unrealistic returns. They are also designed to catch small retail traders but at the broker compliance level as they are on the hook by CME to prevent malpractices imo. That is why the fines are legit and bigger penalties by regulators just to make a good example out of you for others to avoid going this path. You sign something like "understanding of wash trade regulation" and if you violate this knowingly, you pay a hefty fine or you go to jail. That's how the regulated industry works. With that said, we just never know what shit goes on behind the curtains :-)
Staying in my lane...
  • #10,802
  • Feb 24, 2019 2:55am Feb 24, 2019 2:55am
Quoting VEEFX
{quote} i started my trading journey with Datek Online which got bought by TD then moved to Scottrade which was also bought by TD and now have all my non-IRA investing accounts with TD. TOS is great software but their margin requirements are not suitable for regular and retirement accounts... no such thing as "day margin" with them. IBKR is great but their platform and customer service sucks as well. Since I have been with them forever, its time for a change away from both TD and IBKR and consolidate into one broker until I reach the 1M mark. Long...
Move to Oz, universal healthcare for all, delivered at half the cost in the US. Got a sister in Boston IC nurse who can't believe how stupid the system is.
  • #10,803
  • Feb 24, 2019 3:43am Feb 24, 2019 3:43am
Quoting mallee
{quote} Move to Oz, universal healthcare for all, delivered at half the cost in the US. Got a sister in Boston IC nurse who can't believe how stupid the system is.
Thanks man. I did not know this. I got my eyes on New Zealand also. Do they also have universal healthcare? I have yet to do south island so this winter I might go check it out. Frankly, I get along very well with Aussies for some weird reason lol
Staying in my lane...
  • #10,804
  • Feb 24, 2019 9:33am Feb 24, 2019 9:33am
Quoting VEEFX
{quote} Thanks man. I did not know this. I got my eyes on New Zealand also. Do they also have universal healthcare? I have yet to do south island so this winter I might go check it out. Frankly, I get along very well with Aussies for some weird reason lol
I lived in Christchurch for one year long ago. Lovely place with lovely and friendly people. Living cost is not that expensive. There are many good forex traders in NZ. Even former prime minister was ex FX trader. If you are American, it may look like a clean and safe rural town in U.S. Not really a tropical resort kind of thing however. Regarding healthcare, foreigners can be covered by private insurance with reasonable price. It's free to NZ citizens (but people usually have private insurance). For tax, refer to this: https://www.forexfactory.com/showthr...51#post6925751
I brought this guy from NZ....
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Simplicity is the ultimate sophistication - Leonardo da Vinci
  • #10,805
  • Feb 24, 2019 11:47am Feb 24, 2019 11:47am
Quoting heispark
{quote} I am thinking of Malaysia.... Living cost is much cheaper than Singapore... It's relatively closer from my place and my broker Dukascopy has an office out there.
The most negative abaut Malaysia compered to say Thailand that is my favorite place on the planet is that Malaysia is muslim and Thailand buddists totally different people and behavor favoring Thailand big time.
Insanityoing same ting over expecting different results..Einstein
  • #10,806
  • Feb 24, 2019 12:24pm Feb 24, 2019 12:24pm
Quoting pr3dict0r
You guys in the states pay capital gains futures trading ? Or taxed at your income bracket.
capital gains its about 25%
  • #10,807
  • Feb 24, 2019 1:32pm Feb 24, 2019 1:32pm
Quoting heispark
{quote} I lived in Christchurch for one year long ago. Lovely place with lovely and friendly people. Living cost is not that expensive. There are many good forex traders in NZ. Even former prime minister was ex FX trader. If you are American, it may look like a clean and safe rural town in U.S. Not really a tropical resort kind of thing however. Regarding healthcare, foreigners can be covered by private insurance with reasonable price. It's free to NZ citizens (but people usually have private insurance). For tax, refer to this: https://www.forexfactory.com/showthr...51#post6925751...
I am absolutely infatuated with Land's End and Christchurch is definitely on my bucket list to visit. If I was a bit younger, I would have done Antarctica by now :- Arctic Circle is still plausible by becoming a Ice Road Trucker lol
Staying in my lane...
  • #10,808
  • Feb 24, 2019 1:41pm Feb 24, 2019 1:41pm
nobody's mentioning the good ol USA?

i think living overseas (as an american) is overrated...

certain places in the US have all that you need; scenery, safe neighborhood, climate, etc.

the government is always going to be shit like every where else in the world...
  • #10,809
  • Feb 24, 2019 1:57pm Feb 24, 2019 1:57pm
Quoting hilmy83
nobody's mentioning the good ol USA? i think living overseas (as an american) is overrated... certain places in the US have all that you need; scenery, safe neighborhood, climate, etc. the government is always going to be shit like every where else in the world...
America's a beautiful country. You are absolutely right. Canada sucks btw.

The whole point is taxes. Or tax avoidance.. lol

Cheers
  • #10,810
  • Edited 4:36pm Feb 24, 2019 2:04pm | Edited 4:36pm
Quoting VEEFX
{quote} i can move anywhere without any compromise to basic life style and conveniences and more importantly safety/security and good healthcare services. Folks talk about going to some cheap country to trade and find freedom in the name of being a fulltime trader. They have no idea how hard it is for americans to live the life of basic conveniences that they are raised with. Most of us take the American Standard of Living for granted just like it is in our bill of rights! Quite the opposite is true is such countries that are "cheap". I would rather...
I belive its every traders dream to travel the world with a laptop and trade 1-2 hours a day be done and live life.Atleast if no wife ore husband and grown kids ore no kids at all.
Insanityoing same ting over expecting different results..Einstein
  • #10,811
  • Feb 24, 2019 2:30pm Feb 24, 2019 2:30pm
Having lived in several different countries inc. U.S. and holding several citizenship's
I must say Mexico is by far my favorite. Great healthcare and standard of living is great too.

I spend a good part of the year their now. and will be settling there full-time.

I love Canada...but the climate (wet coast) has worn on me..
let alone taxation and cost of living.

The U.S. mmm You could not pay me to live their again !
A bad experience with serious illness and Health insurance companies was enough for me.
I have alot of family and friends in the US and healthcare can be a real BIG issue.
especially as we get older.

Ive had many conversations with Drs. and first responders. In regards to the level of care etc
between US and Mexico... And all agree Mexico is very good..As welll as my own familys
nd friends personal experiences with the Mexican system.

So its Mexico for me...(not the bastardized tourist cities tho)
But I do realize its not for everyone... to each their own !

Cheers
Master your Mind,,,Master the Market
  • #10,812
  • Feb 24, 2019 3:10pm Feb 24, 2019 3:10pm
Quoting hilmy83
nobody's mentioning the good ol USA? i think living overseas (as an american) is overrated... certain places in the US have all that you need; scenery, safe neighborhood, climate, etc. the government is always going to be shit like every where else in the world...
no better place to live on earth. great food great climates (You get to chose hot cold Luke warm (nc)) great entertainment and most of all freedom
  • #10,813
  • Feb 24, 2019 3:37pm Feb 24, 2019 3:37pm
Quoting VEEFX
{quote} Singapore has the best passport in the world but too expensive to live over there. I personally would prefer Dubai if I have to choose a metropolitan city life. My wife has only one criteria (apart from travel)... she wants to live walking distance to all the shops and cafes. I want to stay as far far away from humans as humanly possible. So we shall see. Perhaps a divorce might be in order :-(
If you make that much money, you can afford to dig a tunnel and live under your wife's house. I wouldn't recommend divorcing her because she can pay the bills with the money you make and do all the human interactions needed to keep you alive and away from all human beings plus she will shop for you and throw the supplies down the hatch on a daily basis.
  • #10,814
  • Feb 24, 2019 4:44pm Feb 24, 2019 4:44pm
Quoting VEEFX
{quote} Most likely it will be a compromise between two vacation homes and switching every 6 months as long as we are able to travel. That is my goal before I turn 60. I was kidding about the diverce. This year is our 25th anniversary and she has had that option for a very long time. Her family is wealthy but gave up everything to marry me when I was literally broke and nothing worth to be proud of. She has lived with me thru thick and thin so it is only appropriate to have the option available to her if she ever wants. I think I wrote this before....
awwww

quoted posted rescinded.
  • #10,815
  • Feb 24, 2019 4:56pm Feb 24, 2019 4:56pm
Quoting VEEFX
{quote} Most likely it will be a compromise between two vacation homes and switching every 6 months as long as we are able to travel. That is my goal before I turn 60. I was kidding about the diverce. This year is our 25th anniversary and she has had that option for a very long time. Her family is wealthy but gave up everything to marry me when I was literally broke and nothing worth to be proud of. She has lived with me thru thick and thin so it is only appropriate to have the option available to her if she ever wants. I think I wrote this before....
Buying 2 houses, travelling between them and having lots of money for wife and kids is value to you. But if just saying that money doesn't have value to you floats your boat, then be it.
  • #10,816
  • Feb 24, 2019 5:34pm Feb 24, 2019 5:34pm
Quoting VEEFX
{quote} We are digressing here a bit. Don't getgme wrong....Money has a lot of value to me as a PROVIDER for my family but not for me personally. I don't even recall the last time I bought something for myself. I hate shopping or deciding what to buy or have any say in what they buy. 99% of the time I am sitting in my car chatting on forums like just now while they shop in Ikea lol
Okay, so you don't like shopping or getting involved in decision making for the selection of goods for your households so you hand your money and all that shopping pleasure to members of your family so they can do the tasks you don't like.

No nobility in that. If you were making the money and giving it to a good cause, I could see how you put the money's value to good use beyond yourself but you are just keeping it within your household and enjoy delegating the bothersome effort of spending it to those who enjoy it.

Alright, like I said, whatever floats your boat.
  • #10,817
  • Feb 24, 2019 7:17pm Feb 24, 2019 7:17pm
Quoting VEEFX
{quote} You are really OutThere bro. I will delete my posts. Just a waste of time
Good idea.
  • #10,818
  • Feb 25, 2019 8:55am Feb 25, 2019 8:55am
2b with thrust bar
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  • #10,819
  • Feb 25, 2019 9:02am Feb 25, 2019 9:02am
Quoting Divergence
2b with thrust bar {image}
Nice one. It missed my entry by 1 tick.
  • #10,820
  • Feb 25, 2019 9:20am Feb 25, 2019 9:20am
+1 done for today
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