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  • #321
  • Mar 5, 2008 6:18pm Mar 5, 2008 6:18pm
Yeah, my only hope for a better tax situation is the Fair Tax, but with Americans being the sheep we are, likely won't see that in my life time.
In fact, we move closer to your system everyday. If Obama or Clinton get to be Pres., we may have to come to Canada for health care. Pretty scary right now, for a free thinking American that believes in the constitution.
Congrats on the "compensation"...my wife would never consider trading.
She just wants to know that I am good at it, of course.
  • #322
  • Mar 5, 2008 6:52pm Mar 5, 2008 6:52pm
Quoting malcolmb14
She ...err.... pays me in other ways.....lol

Ah one day ,my friend, I will tell you of my Canadian Tax free trading techniques . But if I let the cat out of the bag the Canada Revenue Agency will liekly change the rules on me.
I can imagine that spread betting is involved. It is legal in the UK but i cannot find anything for Canada.

Am I hot or cold?
  • #323
  • Mar 5, 2008 6:58pm Mar 5, 2008 6:58pm
Quoting PipAV8tor
Yeah, my only hope for a better tax situation is the Fair Tax, but with Americans being the sheep we are, likely won't see that in my life time.
In fact, we move closer to your system everyday. If Obama or Clinton get to be Pres., we may have to come to Canada for health care. Pretty scary right now, for a free thinking American that believes in the constitution.
Congrats on the "compensation"...my wife would never consider trading.
She just wants to know that I am good at it, of course.
My friend, I'm afraid we are headed too far down that road. Doesn't appear to be any turning back now.
  • #324
  • Mar 5, 2008 7:13pm Mar 5, 2008 7:13pm
Quoting cotoho
My friend, I'm afraid we are headed too far down that road. Doesn't appear to be any turning back now.
Way too far at this point. Time for another Tea Party...
  • #325
  • Mar 5, 2008 7:17pm Mar 5, 2008 7:17pm
Quoting ultimate
I can imagine that spread betting is involved. It is legal in the UK but i cannot find anything for Canada.

Am I hot or cold?
Hot very hot .... not available in Canada , But I am british.

Now fill in the blanks... what is tax free in Canada ?
Blogging daily now at www.volume.zone
  • #326
  • Mar 5, 2008 7:48pm Mar 5, 2008 7:48pm
Quoting malcolmb14
Hot very hot .... not available in Canada , But I am british.

Now fill in the blanks... what is tax free in Canada ?
Charities, RRSP ...
I know that you can open a corporation and get taxed 20%. Is forex income considered capital gains in Canada ie 15% tax ?
http://en.wikipedia.org/wiki/Capital_gains_tax#Canada
  • #327
  • Mar 5, 2008 8:00pm Mar 5, 2008 8:00pm
  •  FxChi
  • | Joined Dec 2007 | Status: Cash Rules Everything Around Me | 749 Posts
Quoting rrram2
I was going to say this several hours ago, but ovbiously after that last speedy move up there isn't any hidden bearish divergence that I can see.

I am still long on one minilot 209.63, but I have scalped them for 48 out 50 orders at a profit over the last 3 days or so I have been sitting with this loser.

The 240 minute chart currently shows 2 up bars in a row with a third bar looking to be working up.

Even on the daily chart it looks like the pair has bottomed out yesterday and is on its way back up strongly.

I change my long term trend to up at this point.
Perhaps you could help me out a little here. I thought a bearish divergence was when you have lower highs in price but RSI goes up. On a 4hr chart I'm looking at a candle 3/3/08 that opens at 9 AM eastern then the 3/4/08 candle that opens at 1 AM shows a corresponding RSI value higher than the 3/3 candle. Is that a valid hidden bearish divergence?

On 1 hour chart the candle on 3/4/08 that opens at 1 AM has an RSI value lower than 3/4/08 5 o'clock candle. The 1 AM candle has a high that was higher. Valid hidden bearish divergence?

30 Min chart - 3/4 candle with opening 1:30 AM vs 3/4 5:30 PM candle. Then 1:30 AM candle is a high higher than the 5:30 PM, but the RSI for the 5:30 is higher. Valid hidden bearish divergence?

5 Min Chart - 3/4 candle opening 5:30 PM versus 3/4 candle opening 11:55 PM. Same thing. Valid hidden bearish divergence?

I see valid hidden divergences on all those TF's. Do any of you see them on your chart too? Am I not interpreting this properly? I took the trade and forgot about the fundy which screwed me. Lesson learned...oh well. Just want to make sure I'm looking at these hidden divergences properly and not making them up in my head...lol.
"Wishful thinking dies hard." Igor T.
  • #328
  • Mar 5, 2008 8:17pm Mar 5, 2008 8:17pm
Quoting ultimate
Charities, RRSP ...
I know that you can open a corporation and get taxed 20%. Is forex income considered capital gains in Canada ie 15% tax ?
http://en.wikipedia.org/wiki/Capital_gains_tax#Canada

Try gifting .... gifting is tax free in Canada
Blogging daily now at www.volume.zone
  • #329
  • Mar 5, 2008 8:27pm Mar 5, 2008 8:27pm
Quoting malcolmb14
Try gifting .... gifting is tax free in Canada
http://www.taxtips.ca/personaltax/gi...heritances.htm
So you give the gift to your wife for example and then she gives you back the money .. genius!!

This doesn't apply right? It is not a gifting trust arrangement right?
http://www.taxpage.com/topten.htm

The Canada Revenue Agency (Canadian income tax department) has just issued another press release warning Canadian taxpayers about participating in “gifting trust arrangements” and “leveraged cash donation” “tax shelter” plans. The position of CRA is that these plans are contrary to the Canadian Income Tax Act and that CRA will deny deductions to participants. While CRA may or may not be correct, and many of the plans being offered have supporting tax opinions, any participant should expect to be reassessed and have a fight with CRA, possibly in the Tax Court of Canada of Federal Court of Appeal, before the deductions are ultimately allowed or disallowed.
  • #330
  • Mar 5, 2008 9:03pm Mar 5, 2008 9:03pm
Quoting ultimate
http://www.taxtips.ca/personaltax/gi...heritances.htm
So you give the gift to your wife for example and then she gives you back the money .. genius!!

This doesn't apply right? It is not a gifting trust arrangement right?
http://www.taxpage.com/topten.htm

The Canada Revenue Agency (Canadian income tax department) has just issued another press release warning Canadian taxpayers about participating in “gifting trust arrangements” and “leveraged cash donation” “tax shelter” plans. The position of CRA is that these plans are contrary to the Canadian Income Tax Act and that CRA will deny deductions to participants. While CRA may or may not be correct, and many of the plans being offered have supporting tax opinions, any participant should expect to be reassessed and have a fight with CRA, possibly in the Tax Court of Canada of Federal Court of Appeal, before the deductions are ultimately allowed or disallowed.

It is a direct gift. Sure the CRA will questiuon but my sister is just a rich trader that likes to give her money away !! lol This is the 1st year I have tried. My accountant , who used to work for the CRA says it is all legit .. we shall see.
Blogging daily now at www.volume.zone
  • #331
  • Mar 6, 2008 6:47am Mar 6, 2008 6:47am
Here is the chart for so far today.

I have plotted a 1-2-3 buy with Fe's.

Right now we are up against 206.92. I took profit as at the same time GBPUSD is against 2.00 and the dj-30 YM is sitting right on the bottom of a lienar regression channel looking poised to break down.

If we manage to break this zone we will likely test the 61.85 fe at 207.58.

A break down of 206.80 will test the overnight lows of 206.

There are a couple of news items out today. Unemployment claims and pending home sales.

Attached Image (click to enlarge)
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  • #332
  • Mar 6, 2008 12:53pm Mar 6, 2008 12:53pm
Malcomb,
Could you go into your rsi triggers a little more. When you get rsi going up through 40 level and down through 60 level do you then wait for 15 pips past current bar? Or is that just on the 50sma 15minute triggers?
Thanks
  • #333
  • Mar 6, 2008 12:59pm Mar 6, 2008 12:59pm
Quoting cotoho
Malcomb,
Could you go into your rsi triggers a little more. When you get rsi going up through 40 level and down through 60 level do you then wait for 15 pips past current bar? Or is that just on the 50sma 15minute triggers?
Thanks

RSI si the best technique to use.

Depends on the time frame.

5 min use only values of 30 and 70 ( the rsi rapid EA that was posted ea;rier in the thread works for that) , entry is 15 pips above the high or below the low of the trigger bar ( depending if it was a buy or sell trigger)

15 min i will use 40 and 60 also as sometime the rsi does not get into the over bought and oversold , entry is 15 pips above / below trigger bar

60 min use 40 and 60 as triggers as well as 30 / 70 , also sometime i use 50 ( below is an example of a trade I did in eurcad recently) for a few pips ( i am still in as the short trigger I posted yesterday has been negated)

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  • #334
  • Mar 6, 2008 1:00pm Mar 6, 2008 1:00pm
forgot to read the post before I posted it. Lots of typing errors.

Trading is my skill not typing
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  • #335
  • Mar 6, 2008 1:15pm Mar 6, 2008 1:15pm
This a reason for the adding of pips to a trigger. I was adding 60 pips to the low of the trigger bars as this took me under that support line running down from top.

In fact this trendline formed support.

The fact that the rsi came down thru 60 and then turned back up cancels the short trigger.

Now we will see if we get any sign of a double top on this pair.
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  • #336
  • Mar 6, 2008 1:44pm Mar 6, 2008 1:44pm
Quoting malcolmb14
This a reason for the adding of pips to a trigger. I was adding 60 pips to the low of the trigger bars as this took me under that support line running down from top.

In fact this trendline formed support.

The fact that the rsi came down thru 60 and then turned back up cancels the short trigger.

Now we will see if we get any sign of a double top on this pair.
Did you try trading EUR/AUD? it moved more then 200 pips today! I would be glad to read your comments on it.
  • #337
  • Mar 6, 2008 1:48pm Mar 6, 2008 1:48pm
Quoting currinexfx
Did you try trading EUR/AUD? it moved more then 200 pips today! I would be glad to read your comments on it.

I do not day trade it due to the large spreads. I do position trade it due the nice waves it moves in. Current one I got in a little late but still have 300 pips in the bag.
Blogging daily now at www.volume.zone
  • #338
  • Mar 6, 2008 1:50pm Mar 6, 2008 1:50pm
Quoting malcolmb14
I do not day trade it due to the large spreads. I do position trade it due the nice waves it moves in. Current one I got in a little late but still have 300 pips in the bag.
Nice, I do not trade it yet, but I think I will. If you trade it I would love to read your analysis on it. Thanks.
  • #339
  • Mar 6, 2008 2:36pm Mar 6, 2008 2:36pm
Quoting malcolmb14
I do not day trade it due to the large spreads. I do position trade it due the nice waves it moves in. Current one I got in a little late but still have 300 pips in the bag.
I don't usually watch that pair. Just checked.....3-4 pip spread right now on MB. What is your spread on that pair?

I might have to get a new mt4 account to watch.....the platform I watch for charts doesn't have that pair.
  • #340
  • Mar 6, 2008 2:39pm Mar 6, 2008 2:39pm
M,
I just went short at 206.44 as I believe the hourly pivot at 206.50 will give way. Looking to exit at 206, just due to the even number, but I may see if it falls as well. Wish me luck.
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