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  • #47,641
  • Oct 19, 2024 11:10am Oct 19, 2024 11:10am
Quoting Nordling
{quote} Well, thanks to 500:1 leverage brokers i don't have to pay any tax on capital gains Zebi In my country we have a 5k USD barrier, and goverment demands 10% tax from every single winning trade. Which is why i prefer to trade overseas. I like flying under the radar. Yes, many retailers lose money because now opening a trade account overseas is easier than ever and there are many frauds as well. But we can't really babysit people. They will blow their money either way. Forex, crypto, horse races... you name it. Their mindset is wrong....
i pay 25% percent of the yearly profit, but i pay it monthly basis, if i lose one month i get the tax back relatively.

trading overseas doesn't help, you wire transfer the money to your local bank, and the authorities know everything, and it's not worth the fines later.
  • #47,642
  • Oct 19, 2024 11:24am Oct 19, 2024 11:24am
Quoting Whale
{quote} i pay 25% percent of the yearly profit, but i pay it monthly basis, if i lose one month i get the tax back relatively. trading overseas doesn't help, you wire transfer the money to your local bank, and the authorities know everything, and it's not worth the fines later.
Well that's also true, depending on the amount and frequency of your withdrawals, government will ask you if you are laundering money or committing tax fraud.

There's another way though I use crypto to deposit & withdraw funds. I have a trusted foreign exchange bureau here. I send the cryptos i withdrew from my broker to them, and they take a little commission for their troubles. And then they hand me the money in exchange of cryptos.

I just revealed how i commit tax fraud

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  • #47,643
  • Oct 19, 2024 11:24am Oct 19, 2024 11:24am
Quoting worldbankinc
{quote} Hello Sir, Actually I am using hedging method for my Trade Idea. So at the moment i don't add confluent to my trade idea. I just hedge when it is needed. So if you ask me about expectation, I would say I dont have any expectation, whichever market goes I will close my trade in profit. However we can reduce the risk by adding other confluent for example Moving Average ( price below MA is Sell first or above MA is buy first ). Thanks.

I was always interested to know some hedging strategy if you can share here many will benefit. How exactly you use hedging in gold.
  • #47,644
  • Oct 19, 2024 11:39am Oct 19, 2024 11:39am
It is good to see us sit down and share each other's experiences at weekend. When the new trading week begins, things quickly become market, literally. I would rather sit tight or speak a little, than joining the match where others shouting out loud that bears/bulls thing (quite amusing).
But yes, I do use leverage. I mean, 5% a month of 400$ account is likes a sand on the beach compare to 5% of 100k$ account. It just not worth the time studying anything. I've a full-time job then trading the risk better take in. You can't call it gambling if you have a plan and discipline.
  • #47,645
  • Oct 19, 2024 11:52am Oct 19, 2024 11:52am
Quoting Whale
{quote} Israel will attack Iran from inside.. I dont know when and how, but it will happen sooner or later. I believe the Islamic republic of iran has ticking clock on their heads.. not especially because of Israel directly. all the money, the billions of billions of $ that invested in Terror, Hezbollah, Yemen, militias in Iraq and god knows where else went to waste. Iran is weak, and soon they will have to face it from the inside and outside.

You got it backwards... Israel is the terrorist genocidal entity which should be dissolved ASAP.
  • #47,646
  • Oct 19, 2024 11:56am Oct 19, 2024 11:56am
Quoting IndianFX
{quote} I was always interested to know some hedging strategy if you can share here many will benefit. How exactly you use hedging in gold.
Before you hedge
Find what is the buy swap rate and sell swap rate on your broker
  • #47,647
  • Oct 19, 2024 12:02pm Oct 19, 2024 12:02pm
Quoting xtradex
{quote} You got it backwards... Israel is the terrorist genocidal entity which should be dissolved ASAP.
Mate, i know that both sides blame each other for being terrorists and all but continuing this fight in Forex Factory definitely won't help Iran, Israel or Palestine...
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  • #47,648
  • Oct 19, 2024 12:08pm Oct 19, 2024 12:08pm
Quoting Nordling
{quote} Mate, i know that both sides blame each other for being terrorists and all but continuing this fight in Forex Factory definitely won't help Iran, Israel or Palestine...
In any war anywhere in the world
1.who instigated it
2.who is selling weapons and earning
Forget everything else, war is business
India sold weapons and earned billions, who bought them?
I am a shareholder in some of those companies, so indirectly I have also earned from the Ukraine Russia war , Azerbaijan Armenia war, Israel Iran war
  • #47,649
  • Oct 19, 2024 12:20pm Oct 19, 2024 12:20pm
Quoting PatienceFx
{quote} In any war anywhere in the world 1.who instigated it 2.who is selling weapons and earning Forget everything else, war is business India sold weapons and earned billions, who bought them? I am a shareholder in some of those companies, so indirectly I have also earned from the Ukraine Russia war , Azerbaijan Armenia war, Israel Iran war
Welp.
Discussing the economic side of these wars are natural as we are traders. But discussing who's right or wrong is just a pointless argument
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  • #47,650
  • Oct 19, 2024 12:32pm Oct 19, 2024 12:32pm
Quoting Nordling
{quote} Welp. Discussing the economic side of these wars are natural as we are traders. But discussing who's right or wrong is just a pointless argument
I am only Interested in money, does not matter who fights
  • #47,651
  • Oct 19, 2024 1:28pm Oct 19, 2024 1:28pm
Quoting xtradex
{quote} You got it backwards... Israel is the terrorist genocidal entity which should be dissolved ASAP.
ok
  • #47,652
  • Oct 19, 2024 2:14pm Oct 19, 2024 2:14pm
Quoting IndianFX
Loosing 2k was just 2 percent of my account. And I know how to make it back. Lol
I made no comment on the size of the loss or the size of your account; only that you had a preference to sell in a strong trend market.

Nothing wrong with that, plenty of contrarian traders around, sometimes they wait for a reversal signal, sometimes they just enter.

Which would be more my style, because when you remove the time factor, in the end, we must all trade with the "trend" or lose.

It takes a lot for me to IGNORE you, but you can try.
  • #47,653
  • Oct 19, 2024 6:54pm Oct 19, 2024 6:54pm
Quoting NrSLionHeart
{quote} I currently have 460 USD in the account. Can you please calculate how much time I have to trade to get that account to 100k with 10% monthly??? I do have a full job that pays good, so for me it does not make sense to spend hours upon hours looking at a screen for 100 USD / per day. So yeah, 6% per month is NOT a good philosophy...
Except that the probability of losing your investment is very high. Hence, end in 'no success land'.
  • #47,654
  • Oct 19, 2024 6:59pm Oct 19, 2024 6:59pm
Quoting Nordling
{quote} I agree. It won't hurt to have an aggresive trading account with a few hundred bucks in it. The problem is people put their life savings in a trading account. 10k, 50k, 100k, 500k etc. I rather put 500 dollars and trade with high risk rather than putting my life savings in a trading account and risk 1% on each trade. You can always fall victim to your greed and go wrong with the second option, but you can never go wrong with a few hundred bucks. People think that they need large sums of money to become a profitable trader, but the truth...
I know someone who started with 1 usd, 30:1 leverage and now has more than needed.
  • #47,655
  • Oct 19, 2024 7:14pm Oct 19, 2024 7:14pm
Quoting AlxT
{quote} I know someone who started with 1 usd, 30:1 leverage and now has more than needed.
How was he able to open a position with 1 dollar and 30 leverage? 1x30 is only 30 He had already a position open and probably 1 dollar margin left i guess?
You have to have an IQ higher than 90 to interact with this user.
  • #47,656
  • Oct 19, 2024 11:00pm Oct 19, 2024 11:00pm
Quoting AlxT
{quote} I know someone who started with 1 usd, 30:1 leverage and now has more than needed.
I started with 10 cents and now own an Island and a yacht.
  • #47,657
  • Oct 19, 2024 11:47pm Oct 19, 2024 11:47pm
Quoting Erebus
{quote} I made no comment on the size of the loss or the size of your account; only that you had a preference to sell in a strong trend market. Nothing wrong with that, plenty of contrarian traders around, sometimes they wait for a reversal signal, sometimes they just enter. Which would be more my style, because when you remove the time factor, in the end, we must all trade with the "trend" or lose.
Who say's we "must" trade with the trend?

What is trend anyway?

Who is considered a contrarian trader? Who assigns them? What is the criteria? If you follow those criteria, will you be millionaire?
The market hides a perfect geometry.
  • #47,658
  • Oct 20, 2024 1:05am Oct 20, 2024 1:05am
Quoting IndianFX
{quote} I started with 10 cents and now own an Island and a yacht.
Hahahaha. Very good pls can you book one room for me in ur Island?
  • #47,659
  • Oct 20, 2024 1:08am Oct 20, 2024 1:08am
Quoting IndianFX
{quote} I started with 10 cents and now own an Island and a yacht.
Btw I am planing to buy space in few days.
  • #47,660
  • Oct 20, 2024 1:35am Oct 20, 2024 1:35am
Quoting IndianFX
{quote} I started with 10 cents and now own an Island and a yacht.
i started with 1 cent without leverage and now i own a country and a plane
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