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Cable Update (GBPUSD)

  • #232,861
  • Jun 22, 2010 7:21am Jun 22, 2010 7:21am
Quoting cloggie
Not at all, they will pay billions less.

You're referring to the offset by the Corp tax?

Comment from the BBC contributor:

"A bank levy is likely to be one tax which is popular - though perhaps only outside the City of London, says Iain Watson. The chancellor can say Labour would have fought shy of this measure without prior international backing. It will also help him argue that bankers - and not just benefit recipients - will shoulder some of the burden of deficit reduction"
  • #232,862
  • Jun 22, 2010 7:22am Jun 22, 2010 7:22am
I believe in the past hours that news was already built into price action, Bull retracement seems to be over. I believe this is correction to the downside which eurusd was a leading indicator, this should follow same exact notion as last night on eurusd, not only through this day but through the night and coming hours.

The uptrend line has been broken
Know when to hold em, Know when to fold em!
  • #232,863
  • Jun 22, 2010 7:23am Jun 22, 2010 7:23am
Quoting crak0
You're referring to the offset by the Corp tax?

Comment from the BBC contributor:

"A bank levy is likely to be one tax which is popular - though perhaps only outside the City of London, says Iain Watson. The chancellor can say Labour would have fought shy of this measure without prior international backing. It will also help him argue that bankers - and not just benefit recipients - will shoulder some of the burden of deficit reduction"
Of course, the levy is just a PR stunt, CT down 4%, lowest of any of the G20 countries, CGT exemption up by 3 million and there is no VAT on financial services, great news. Us stock traders gotta be careful with the CGT going up to 28%, time to structure your setup if you haven't already.
  • #232,864
  • Jun 22, 2010 7:28am Jun 22, 2010 7:28am
do you guys get CGT on profits made from trading?

28% from 18%... bit of a move there...
  • #232,865
  • Jun 22, 2010 7:28am Jun 22, 2010 7:28am
Quoting anti
i am short @1.4698
what do u guys ssay ?
i am short heavily . should i get oout ?
I have some suggestion for u, dont trade with heavy lots over your equity, dont use small sl if u are a newbie,always stick to your plan, and the more importantly, dont believe people in forum... Including me and what i have said..
  • #232,866
  • Jun 22, 2010 7:29am Jun 22, 2010 7:29am
Everyone have fun with PA today,,,
Veni, Vidi, Vici (We came, we saw, we conquered)
  • #232,867
  • Jun 22, 2010 7:29am Jun 22, 2010 7:29am
Quoting crak0
do you guys get CGT on profits made from trading?

28% from 18%... bit of a move there...

Traders that have no tax beneficial structure in place will see an increase in their tax burden. Big jump from 18 to 28 but the lifetime entrepreneur exemption up from 2 mill to 5 mill. There are different solutions for different traders in the UK, for example forex as spreadbetting is tax exempt here. There are lots of other solutions to structure your trading so not to pay any or little tax in the UK. The UK has always been very favourable towards traders.
  • #232,868
  • Jun 22, 2010 7:32am Jun 22, 2010 7:32am
Quoting mloistianto
I have some suggestion for u, dont trade with heavy lots over your equity, dont use small sl if u are a newbie,always stick to your plan, and the more importantly, dont believe people in forum... Including me and what i have said..
understood
what should i do now ?
should i exit ?
  • #232,869
  • Jun 22, 2010 7:35am Jun 22, 2010 7:35am
Quoting Bull_Bear
Everyone have fun with PA today,,,
Sure it is.. The PA is great for scalpers..
  • #232,870
  • Jun 22, 2010 7:38am Jun 22, 2010 7:38am
Osborne has delivered, a great budget. In the true Conservative spirit, a smaller government, pro business, cuts in benefits, cuts in Corporation Tax, cutting the structural deficit, public sector pay freeze, housing benefits cuts, council tax freeze, NI increase cut, NI for new employees exempt for first 10 employees.
  • #232,871
  • Jun 22, 2010 7:40am Jun 22, 2010 7:40am
  •  ams
  • | Joined Apr 2009 | Status: Perspective,Position,Plan ,Pattern | 2,859 Posts
Good lad, on top of the market!!

Budget is ok, not bad as marketed. If someone work's hard theyshould be ok if not, think about what to do now kind of budget.

Debt has to be paid sooner or later. Sooner is better for my kids future.

Bank levy is only 0.04% on balance sheet to begin with going to 0.07. All europe is in together. Meaning banks won't be showing much profit now. Even if they do it's calculated as net profit after shareholder deduction :-)

Quoting cloggie
Of course, the levy is just a PR stunt, CT down 4%, lowest of any of the G20 countries, CGT exemption up by 3 million and there is no VAT on financial services, great news. Us stock traders gotta be careful with the CGT going up to 28%, time to structure your setup if you haven't already.
  • #232,872
  • Jun 22, 2010 7:43am Jun 22, 2010 7:43am
Quoting ams
Good lad, on top of the market!!

Budget is ok, not bad as marketed. If someone work's hard theyshould be ok if not, think about what to do now kind of budget.

Debt has to be paid sooner or later. Sooner is better for my kids future.

The media had warned for weeks that the Libdems would dilute the budget, but guess what a true Conservative budget. The markets will love this. Osborne is getting it all in at once and on his first budget. Not saying that Cable will rise, but it may not fall as hard.... We still have that pesky euro dragging her down.
  • #232,873
  • Jun 22, 2010 7:43am Jun 22, 2010 7:43am
Quoting Yngwie
im crazy.. buy at 4700 sl 4675 small loss its ok
Closed at 4760 for +60 pips only!

Sell now with SL 4785
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #232,874
  • Jun 22, 2010 7:45am Jun 22, 2010 7:45am
Cutting 25% of Local Goverment will be easy, I could just go back to my old office and pick 1 in 4 staff and make them redundant, picking the right 1 in 4 would have no impact on service at all.
  • #232,875
  • Jun 22, 2010 7:51am Jun 22, 2010 7:51am
The range of this hourly bar is fascinating.
  • #232,876
  • Jun 22, 2010 7:51am Jun 22, 2010 7:51am
Quoting Yngwie

Sell now with SL 4785
4785, that should not take that long.
  • #232,877
  • Jun 22, 2010 7:54am Jun 22, 2010 7:54am
Quoting Yngwie
Closed at 4760 for +60 pips only!

Sell now with SL 4785
damn.. hit SL
Live trade ~ GBPUSD only. No chart! Follow at your own risk!
  • #232,878
  • Jun 22, 2010 7:57am Jun 22, 2010 7:57am
Quoting Yngwie
damn.. hit SL

A couple of us have been talking for pages on how great this budget is for the markets and you are shorting this? What did you expect.
  • #232,879
  • Jun 22, 2010 7:57am Jun 22, 2010 7:57am
Quoting cloggie
4785, that should not take that long.
Done, 48135 next.
  • #232,880
  • Jun 22, 2010 8:00am Jun 22, 2010 8:00am
Just for fun, I predict this is an overt manipulation of the hourly bar, and it will immediately decline at 1 minute past the hour.
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