EURUSD

Yes, If you win cash at the table, then you can just put it in your pocket,

but, if you win some Big numbers of Slot Machine, they'll write you a check.

And then you'll have to pay taxes on it. Actually you must pay

taxes on all casino activity, but when it comes to cash it's impossible to

track. Unless you win big and put it in your bank more than $10,000 cash,

bank will fill out report on you to IRS on cash transaction $10k or more per day.

Hello great forum here. I just joined and trade the eur/usd.

Good question I know that the lottery takes out taxes to the winner.
There are legal ways to limit your tax burden for Forex trading.
The way I use is to set up a foundation and my broker account is in the foundation name. You can also have a corporate account with most any broker.
Hope that helps
Dean

As expecting some bounce at 1.3589 area close all shorts & waiting retake perhaps at 1.3600. more shorts may work & also it can bull from any D .
fontu

preparing taxes in the USA is nightmare.
There are 1000 page booklets for every form and there are thousands of forms.
Not everyone needs to fill out every form, they are all specialized, in fine print and a miserable headache... written in such as as no one can understand what the hell it says.
there are references and cross references. to understand line 4 on form x please go to line 27 on form y.
Complete the worksheet in order to find your income bracket as defined on page 43 of such and such booklet and if it less than 0 go to page 352 of form blah blah.
It is unbelievable and our tax money goes to perpetuate the nonsense.
Giant forests are cut down to print the stuff.
It is really a kind of hell.

well - I do not see much downside pressure here anymore ...

just had a few scalps - up and down and that is the way it was ...

somehow - it is caught in a kind of nowhere zone - range trading is the "PAROLE" of the day ...

Just to let you know that they can monitor it if you split that $10,000/day up between multiple banks. I was flaged when I use to own a business put $15,000 in two accts and got a call about it from my bank. Then I had to sign some papers.

In that case you may not know enough.... in the UK the following is true:

1. Only trades that are made on a spreadbet account (not a spot FX etc) are tax free in the UK.

2. All other trades attract capital gains which you must declare, unless as you say it is deemed your full time occupation in which case it will be treated as income and taxed accordingly...

As I see - you have market up three possible areas for your "D" ...

Anyway - I have got that uncertain feeling - that there will soon be another / furthermore wave of buying interest - even then - when they might be able to give it a dip below of todays low from this morning - prior to London had been opening its floors ...

I'm still expecting a deep through 1.3580 support... then i'll start buildings longs between the friday lows and 1.3580 depending on PA... for a 1.3700 target

long @ 3582 tight SL @3572 TP 3630

will see

Greece Hysteria continues:

LONDON (Dow Jones)--Dumping of the euro is reaching new extremes, with negative bets on the currency rattling up to fresh records with each passing week and analysts warning of further losses ahead.

Euro sales by market participants such as funds have now charted new all-time records for two weeks in a row on the Chicago Mercantile Exchange's futures trading system.

Meanwhile, Swiss bank UBS--the world's second-largest currencies dealer--said that its clients are now selling the euro against the dollar on a "massive" scale that "surpasses anything we have seen since August 2007."

Now, it seems that the typical safety net that protects major currencies from overly sharp moves may fail to appear. Usually, rapid shifts such as this lead to pullbacks as momentum wanes, but this time around, with the structure of the currency itself under question as euro zone officials continue to debate bailouts for Greece, further losses seem all but certain.

"Yes, [negative bets] are large," said Monica Fan, a currencies portfolio manager at investment firm State Street Global Advisors in London.

"But does that mean they can't get larger? Absolutely not," she added.

The net number of negative bets among non-commercial or speculative traders using the CME leapt to 57,000 in the week up to last Tuesday. That marks an increase of one-third over levels in the previous week, which were already a record.

The fresh figures, released last Friday, don't cover the whole of the $3 trillion-a-day currencies market, but they are a well-regarded guide to speculative flows as a whole, and the results are mirrored elsewhere.

Monday, UBS noted that its clients had already sold the euro for 22 of the last 26 weeks, and they have now built up huge negative positions. Asset managers were the biggest net sellers, with hedge funds "a distant second," the bank said. Negative euro bets are now the most extensive of any among the major currencies, it added.

This wave of selling explains why the 16-country European currency has tumbled down to the $1.36 area against the resurgent U.S. dollar in the past week, marking a brutal fall of nearly 10% since the start of December.

Already, the short-term decline in the euro against the dollar has become speedier than the longer-term trend, producing a rare "death cross" formation that chart-followers say could point to a very deep and rapid slide.

The reason for this, of course, is Greece--a euro member that is struggling to convince investors that it can repay its huge debts. Last week, European Union officials pledged moral, but not necessarily financial support to the country.

This week, bond and currencies investors are braced to see whether a meeting of finance ministers Monday and Tuesday can produce more concrete measures to restore confidence. Any failure could make a bad run for the euro even worse.

One key problem for the currency is that political bickering within core euro-zone countries, or successful moves by Greek unions to block austerity measures, could derail the chance of a bailout altogether, leaving a Greek debt default as a significant risk.

The other problem, ironically, is that if a rescue deal is struck, it would slap a hefty bill on Germany--the bloc's strongest member--while also raising the risk that other indebted nations could ask for help.

In addition, the cutbacks that Greece will have to make in order to qualify for financial help will be brutal, crimping growth there for years to come.

In sum, this implies low growth and low interest rates in the euro zone for a long period--a toxic mix for any currency, particularly as the U.S. appears to be tentatively moving towards an exit from extraordinarily loose monetary policy.

"The longer-term implications of the Greek crisis are starting to dawn on us," said David Woo, chief currencies analyst at Barclays Capital in London.

Extremely negative market positioning does create the possibility of a short-term euro boost from here. Under normal market conditions, this might be expected to push the euro back up to the $1.40 area against the dollar. However, many analysts doubt that it will have the usual effect at this point.

"We would be very careful this time around," said analysts at Commerzbank in Frankfurt. "There is proper reason for the negative sentiment against the euro...and the longer the uncertainty about the concrete shape and form of aid measures for Greece continues, the more difficult the situation for the country becomes."

Debt-stricken Greece must get the money it needs from the market and not expect collective European Union help, Finnish Finance Minister Jyrki Katainen told Reuters Insider on Monday.
Speaking on the fringes of a euro zone finance ministers' meeting in Brussels, Katainen said, "The only country that can help Greece is Greece itself."
He said that if some EU countries could help Greece, it would be bilaterally and not involve the EU as a whole.

who would of thought this..

Selfish bastards, like everywhere else situation is perfect. Would US FED

bailout California? I bet they would, probably some hidden indirect way.

So far bull did not feel comfortable , not failing much though &certainly new interest from buyers should come as it dip pips by pip .though it was a buy set up throughout the day.so any turning point of D may work for another try up.first 2 d should work as usual but when market /bull so weak to break 1.3634 area or have very less confidence go to last one d 1.3528 and also it means a strong bear also . bull either have to overcome falling further down of bear continuation or a bull will be seen.
just my idea,taken short at 1.3593 for tp 2nd d ,break up 1.3608/33 will take bull may run.playing only conservative so no big picture considering .
fontu

cali is a state.. not a county.. its easier to bail out a state then a country.. as told you many times before. when the lion comes all if have to do is out run you. if thats with crutches or a wheelchair it just dont matter

is friends network globe, let down and away ...

Exactly - just the fact - that they do not want to do that much in that case (Greece) - could give the single unit a kind of strength as well ...

And from technical approach a pure higher closing on an hourly - specially on a daily basis - let us say higher than 1.3645 / 55 would give another setup picture ...

Today - the bias is fully neutralized ...

Fridays move to the downside - give us more the impression of a false breakout to the downside ...

I can not see much downside pressure anymore at the moment ...

Downside momentum has been weekened ...

All I see is ranging on a holiday thus far. But if what you're trying to say is you're waiting for a significant pullback to go short on resumption...ok.