- #275,401
- Jul 27, 2010 11:39am Jul 27, 2010 11:39am
- Joined Mar 2006 | Status: Chase that Dollar .. | 1,416 Posts
- #275,402
- Jul 27, 2010 11:48am Jul 27, 2010 11:48am
- Joined Apr 2008 | Status: Trader | 9,414 Posts
a friend of mine has been a spread betting forex trader for many years, and he was labeled by the inland revenue as a professional "gambler"(that's exactly what the taxman said when my friend called them to ask sth abt the tax rate) , so i guess technically we are all gamblers, and there is nothing wrong with it as long as you can stick with the discipline and stop loss ratio. anyway, just hope you can get through this soon and make some more pips.
GL
- #275,403
- Jul 27, 2010 12:01pm Jul 27, 2010 12:01pm
That's because he uses spread betting (zero tax). If he used a FX trading firm, he would be labelled a professional currency trader, so I guess technically we are all traders
actually being a gambler is better than being a trader in terms of tax, but spread betting is not tax free if you do it full time i.e. it's your sole/main source of income. you will be taxed at normal tax rate (much higher than the capital gain tax rate) IF they dig in, that's why need you a smart accountant
- #275,404
- Jul 27, 2010 12:05pm Jul 27, 2010 12:05pm
I have had another autoaggressive behavior when I was a little younger in my trading career. If I have doubling my account I set the risk so high even this account is pulverized within a few days. So I have changed my cognitions (and have making jogging, vitalizing power, yoga and meditation) and then the solution after eight month for me: Everytime when I have doubling my account I open a new one and transfer 1/2 of the old at my private account and the other half of the old one at the new account.
- #275,405
- Jul 27, 2010 12:08pm Jul 27, 2010 12:08pm
I'm not gambler if u do it's ur own money but I know what am i doing
GL
, i take a technical approach to this "gambling" business. , anyway, enough said about the definition. happy trading to everyone. time to cook now
- #275,406
- Jul 27, 2010 12:16pm Jul 27, 2010 12:16pm
- Joined Mar 2006 | Status: Trade the reaction not the news! | 10,359 Posts
Jersey Shore's Snooki, The Situation juice the NYSE
http://news.yahoo.com/s/nm/20100727/...us_nyse_snooki
"It was like a car crash here this morning; people couldn't help but stare," said Benedict Willis, director of floor operations at Sunrise Securities Corp. "It was very crowded, but most of the crowd were summer interns. It was like P.T. Barnum's freak show was in town."
http://news.yahoo.com/s/nm/20100727/...us_nyse_snooki
"It was like a car crash here this morning; people couldn't help but stare," said Benedict Willis, director of floor operations at Sunrise Securities Corp. "It was very crowded, but most of the crowd were summer interns. It was like P.T. Barnum's freak show was in town."
- #275,407
- Jul 27, 2010 12:21pm Jul 27, 2010 12:21pm
- Joined Jun 2009 | Status: A slave to the tape | 4,390 Posts
Jersey Shore's Snooki, The Situation juice the NYSE
http://news.yahoo.com/s/nm/20100727/...us_nyse_snooki
"It was like a car crash here this morning; people couldn't help but stare," said Benedict Willis, director of floor operations at Sunrise Securities Corp. "It was very crowded, but most of the crowd were summer interns. It was like P.T. Barnum's freak show was in town."
ohh man thats great....im surprised the guys werent wearing wifebeaters or affliction shirts - #275,408
- Jul 27, 2010 12:34pm Jul 27, 2010 12:34pm
- Joined Mar 2008 | Status: Name real with real own way | 23,413 Posts
Not understand?better not follow my analyses!doubt clearer first, risks ++
- #275,409
- Jul 27, 2010 12:37pm Jul 27, 2010 12:37pm
- Joined Aug 2007 | Status: TARFU... | 7,015 Posts
a few numbers to watch...
Attachment
Current target zone near 2910ish ((and fluid)), but when...?
Add: That assumes break and clear of the LTL on that megaphone thingy... currently a'rd the DP. Horrible PA for trading a move atm. Much easier to hit and run like you stole it from the mob.
FUBAR...
- #275,410
- Jul 27, 2010 12:43pm Jul 27, 2010 12:43pm
- Joined Oct 2008 | Status: Sentiment and Global Macro | 2,321 Posts
Same here, I have price making a run for 1.29 - bottom of channel.
Pivot action playing out nicely...
Current target zone near 2910ish ((and fluid)), but when...?
Attachment
- #275,413
- Jul 27, 2010 12:57pm Jul 27, 2010 12:57pm
- Joined Oct 2008 | Status: Sentiment and Global Macro | 2,321 Posts
- #275,414
- Jul 27, 2010 1:01pm Jul 27, 2010 1:01pm
By my trading rules, it's not valid but I know a few traders who do trade channel mid-points. I don't. To me thats an aspect to where traders are making things more complicated than it should be.
Rule of thumb, over my years of experience if you're able to enter a trade at the top/bottom of a channel, then expect price to reach the opposite side of that channel. All that is required is, Patience. Don't be afraid to hold the position.
Keep it simple and s.....!
- #275,416
- Jul 27, 2010 1:06pm Jul 27, 2010 1:06pm
- Joined Oct 2008 | Status: Sentiment and Global Macro | 2,321 Posts
Keep it simple and s.....!
- #275,418
- Jul 27, 2010 1:10pm Jul 27, 2010 1:10pm
- Joined Apr 2009 | Status: Trader | 4,214 Posts
could be wrong here.
