It is criminal how they are reducing access to the free market for small players, all under the guise of 'protecting' us. We need protection from the protectors.
4
Trading the Cable swings via averages
Restricting leverage is good. Going 100x is basically is a one way ticket to capital destruction.. and the regulators and brokers know it.. Also, the only reason they are clamping down, is that soooo many retail traders have blown up, and cried to the authorities that they basically are forced to react. (proof is in the brokers reviews).
- #6,753
- Feb 24, 2021 10:06am Feb 24, 2021 10:06am
- Joined Nov 2008 | Status: Trader | 2,141 Posts
The leverage control is peanuts compared to the new German "Bad trader Law".
Basically, you cannot deduct any losses beyond 20K a year. Meaning, you could be profitable and still lose it all to taxes or go broke forever.
They actually interviewed one of the main guys in the finance ministry, and he said plain and square, that the intention was clearly to "destroy" this business.
It is unconstitutional, and groups of traders are starting litigation, against the German Finance Ministry, they will probably win in court, at least a compromise, but it will take years.
Check this one:
They are setting up the Finanztransaktionssteuer, tax on every time you buy and sell a stock, ONLY German big stocks, meaning they do want to protect foreign companies and hurt the german ones!!??
If that was not ridiculous enough: the money they expect to collect: 1,5 billion Euros. This goes to financing the miserable minimum pensions that many old folks will barely get.
It gets cuter. State employees, "Beamten", don´t pay a cent monthly for retirement!
The next ten years, estimated cost of that: 647 billion!!!!!!!!!, which we pay with our taxes.
And even nicer, they retire earlier, cause they work harder right?
Basically, you cannot deduct any losses beyond 20K a year. Meaning, you could be profitable and still lose it all to taxes or go broke forever.
They actually interviewed one of the main guys in the finance ministry, and he said plain and square, that the intention was clearly to "destroy" this business.
It is unconstitutional, and groups of traders are starting litigation, against the German Finance Ministry, they will probably win in court, at least a compromise, but it will take years.
Check this one:
They are setting up the Finanztransaktionssteuer, tax on every time you buy and sell a stock, ONLY German big stocks, meaning they do want to protect foreign companies and hurt the german ones!!??
If that was not ridiculous enough: the money they expect to collect: 1,5 billion Euros. This goes to financing the miserable minimum pensions that many old folks will barely get.
It gets cuter. State employees, "Beamten", don´t pay a cent monthly for retirement!
The next ten years, estimated cost of that: 647 billion!!!!!!!!!, which we pay with our taxes.And even nicer, they retire earlier, cause they work harder right?
- #6,755
- Apr 2, 2021 11:06pm Apr 2, 2021 11:06pm
- Joined Mar 2016 | Status: Trader | 6,378 Posts
Good Fridays trading is worth a note or two here...
Below you see the 1 minute chart and the rather erratic price action. This is low volume trading and is very often met with high spreads from brokers to deter traders from taking entries to make quick profits.
What we should be asking is why this particular level is so important so we must look to the higher time frames for a solution.
On this 1H chart i have changed to candles to make the bull support clearer. We can see the bears cannot close below this support and likewise the bulls could not close across the bear support causing the price to range between the two. It could be be that the bulls have now found support though this may be a tad iffy having crossed the EMA. However I would now be looking for the bulls to break north of the bear support and the EMA to make the HH.
We do have another problem on the daily chart because price is now sitting exactly on the EMA so we cannot determine a break or a bounce from this.
Below you see the 1 minute chart and the rather erratic price action. This is low volume trading and is very often met with high spreads from brokers to deter traders from taking entries to make quick profits.
What we should be asking is why this particular level is so important so we must look to the higher time frames for a solution.
On this 1H chart i have changed to candles to make the bull support clearer. We can see the bears cannot close below this support and likewise the bulls could not close across the bear support causing the price to range between the two. It could be be that the bulls have now found support though this may be a tad iffy having crossed the EMA. However I would now be looking for the bulls to break north of the bear support and the EMA to make the HH.
We do have another problem on the daily chart because price is now sitting exactly on the EMA so we cannot determine a break or a bounce from this.
