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- #27,421
- Mar 21, 2019 10:36am Mar 21, 2019 10:36am
- Joined Mar 2016 | Status: Full Trader | 1,378 Posts
- #27,428
- Mar 21, 2019 11:07am Mar 21, 2019 11:07am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} I used turbotax to report gains from forex.. There is a section where you can report 1256 straight pnl. Doesn't matter if your broker gives you form, your broker statements are enough proof. So you tally all of that and report it. 1256 is better for reporting gains because you have the 60/40 split the 988 is more for losses. If you ahvel losses you can claim all of it as ordinary income loss which gives you some tax break. this is from 2017 when i made my move to futures.. {image}
In trading, you have to be defensive and aggressive at the same time
- #27,429
- Mar 21, 2019 11:08am Mar 21, 2019 11:08am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
Since my haters (deltaone and others)always chastise me about my trading I am happy to say my gains in forex exceeded my primary job income last year.
So far this year looks like I am on trajectory to 150k+ gain
They will always be dogs barking!
You guys just execute the set ups.Ignore the haters
So far this year looks like I am on trajectory to 150k+ gain
They will always be dogs barking!You guys just execute the set ups.Ignore the haters
In trading, you have to be defensive and aggressive at the same time
- #27,430
- Mar 21, 2019 11:10am Mar 21, 2019 11:10am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} This is the explanation from Turbotax. You can use one of the 1099 forms: {image}
In trading, you have to be defensive and aggressive at the same time
- #27,432
- Mar 21, 2019 11:17am Mar 21, 2019 11:17am
Since my haters (deltaone and others)always chastise me about my trading I am happy to say my gains in forex exceeded my primary job income last year. So far this year looks like I am on trajectory to 150k+ gain
For the people just starting this, you will make mistakes, you will feel like giving up at some points, but DON'T!
It is all worth it in the end.
P.s. Happy 7 year anniversary Davit!
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- #27,433
- Mar 21, 2019 11:20am Mar 21, 2019 11:20am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Fantastic! Do you enjoy your job Davit? Are you considering trading full time now?
On negative side I do miss set ups on US morning hours which are the best....but for time being I think I got ideal life.Trade and real job
In trading, you have to be defensive and aggressive at the same time
- #27,434
- Mar 21, 2019 11:22am Mar 21, 2019 11:22am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
{quote} Well done, you've done loads of hard work over the years and it is paying off. For the people just starting this, you will make mistakes, you will feel like giving up at some points, but DON'T! It is all worth it in the end. P.s. Happy 7 year anniversary Davit!
thanks
In trading, you have to be defensive and aggressive at the same time
The fundamentals have remained intact
- #27,437
- Mar 21, 2019 11:31am Mar 21, 2019 11:31am
- Joined Feb 2012 | Status: Trader | 21,377 Posts
I miss set-ups by working like a f**king slave to society. I want to trade full-time. I got in trades too early and maybe should waited for FOMC. in future I am going to learn to sit on my hands and wait for the best set-ups. I hope you guys are successful with your trading.
My Brazilian friend PPXDf even flying plane!
You'll get there just execute the trades!When you are ready you will know
In trading, you have to be defensive and aggressive at the same time
- #27,439
- Mar 21, 2019 11:49am Mar 21, 2019 11:49am
I can't complain I have nearly banked 7% this week and I have just loaded shorts on A/C and N/C. On the E/U trades i got in too early I should of waited after the FOMC, price was moving fast and i closed on a loss early. But today i was at work and missed all the opportunities. The only good thing is when mistakes are made i note down what happened and how i can improve. I am happy just could be happier
Oil was a error. No trade was intended
Oil was a error. No trade was intended
