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  • #413,081
  • Mar 24, 2011 1:44pm Mar 24, 2011 1:44pm
Quoting gatorinla
u are the only one to answer that one. when in doubt get out. a green pip is better then 100 red ones. before you enter a trade you should know your out.
and you should also set S/L to BE as soon as possible IMO... i'd rather be stopped out even and have the trade eventually go my way, than be up, it go against me and keep going... just my 2c...

I'll normally sell half if my target isn't reached and I feel like I could be stopped out... that way im at least netting something...
  • #413,082
  • Mar 24, 2011 1:45pm Mar 24, 2011 1:45pm
it's either gonna break up to 4200ish now or it will do 64 before that.
  • #413,083
  • Mar 24, 2011 1:52pm Mar 24, 2011 1:52pm
Quoting attila
i hope so, but dodd and frank, in their infinite genius added something in there saying that if you are a u.s. resident you can not trade with a foreign broker (of course you can incorporate and all that to get around it, but why should i have to do that?). the fact that it's not enforced (just like online casino playing) is a different story.
Parts of this law honestly imo are ripe for legal challenge... How do you even enforce this? What type of penalty would they have? Usually a penalty is in proportion to a crime or a harm committed. By using a foreign broker what harm is committed here? How would you determine punishment?

I think they got this one in partially because traders were asleep on the sidelines, or should I say out trading when laws were being passed affecting our business without our input. How many of those pols that passed this law could even tell you literally what Forex is?...
Do your time and enjoy the ride...
  • #413,084
  • Mar 24, 2011 1:56pm Mar 24, 2011 1:56pm
+84 ( 7 X 12 )

13.4%

MTD +605

77.2%

Compounding factor 1.6 used today
Attached Image (click to enlarge)
Click to Enlarge Name: ScreenHunter_01 Mar. 24 20.50.jpg Size: 83 KB
" Never let the past hold the future to ransom "
  • #413,085
  • Mar 24, 2011 1:57pm Mar 24, 2011 1:57pm
do foreign brokers still report your tax obligations to the IRS? ive always wondered how that worked... and honestly, i just learned about the positioning thing i didn't know there was a regulation about having to be out of a 'long' to be 'short'.
  • #413,086
  • Mar 24, 2011 1:57pm Mar 24, 2011 1:57pm
Quoting Good Fortune
Parts of this law honestly imo are ripe for legal challenge......
maybe they should be asked had they heard of this thing called The Constitution first.
  • #413,087
  • Mar 24, 2011 1:58pm Mar 24, 2011 1:58pm
Thanx to all the guys for your replies. Only been trading live for a few months now and I still dont know alot. All the help is greatly appreciated. Many thanx again. C
P.S. This is double wat I normally average a day, to give an idea of my trading.
  • #413,088
  • Mar 24, 2011 1:59pm Mar 24, 2011 1:59pm
Quoting fldash
do foreign brokers still report your tax obligations to the IRS? ive always wondered how that worked... and honestly, i just learned about the positioning thing i didn't know there was a regulation about having to be out of a 'long' to be 'short'.
not sure about that but if you noticed there is a new question when you do your income tax: Do you have any foreign accounts? Bank or brokerage (it's spelled out). So you can lie but then they can get you for other things, right. Or you can say the truth and they can get you for breaking the frank/dodd one. you see? it's pretty sneaky.

edit: crap, they must have my I.P. address now. just because I'm paranoid it doesn't mean they ain't after me. LOL.
  • #413,089
  • Mar 24, 2011 2:02pm Mar 24, 2011 2:02pm
Quoting detailas
Sorry T. but isn't NFP on 1st Friday each month?
Indeed.. Too many beers it seems.
  • #413,090
  • Mar 24, 2011 2:08pm Mar 24, 2011 2:08pm
Quoting attila
maybe they should be asked had they heard of this thing called The Constitution first.
IMO part of the problem is a lack of understanding about how the formation of capital works as well as basic economics. See the local governments and politicians have budget problems. Many are just too stupid to use their imaginations to find other ways of raising revenues besides spending money they don't have, and trying to take it from others that do and really just law abiding working people.

The country is at a crossroads, but the people that have money and know how to make it will just find another way and another way to circumvent the theft.... I think foreign accounts may in fact be the future.
Do your time and enjoy the ride...
  • #413,091
  • Mar 24, 2011 2:16pm Mar 24, 2011 2:16pm
Quoting Good Fortune
IMO part of the problem is a lack of understanding about how the formation of capital works as well as basic economics. See the local governments and politicians have budget problems. Many are just too stupid to use their imaginations to find other ways of raising revenues besides spending money they don't have, and trying to take it from others that do and really just law abiding working people.

The country is at a crossroads, but the people that have money and know how to make it will just find another way and another way to circumvent the...
completely agree with everything. the fact is whoever was screwed before, will be screwed after. nothing changes.
  • #413,092
  • Mar 24, 2011 2:18pm Mar 24, 2011 2:18pm
breakout?!
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  • #413,093
  • Mar 24, 2011 2:22pm Mar 24, 2011 2:22pm
Quoting mxb
breakout?!
long way to there....
  • #413,094
  • Mar 24, 2011 2:24pm Mar 24, 2011 2:24pm
Quoting attila
long way to there....
you know something i dont?

i'll be there whenever it happens
  • #413,095
  • Mar 24, 2011 2:26pm Mar 24, 2011 2:26pm
Quoting mxb
you know something i dont?

i'll be there whenever it happens
if you are asking this way, then what do you know?

were you asking or clamming? i thought you asked.

another edit: watching 64ish-70 first. it's gotta do that before other things.
  • #413,096
  • Mar 24, 2011 2:27pm Mar 24, 2011 2:27pm
in a democracy a majority (usually) elects law makers to make laws. being illegal to have sex with sheep or where my broker is located has nothing to do with being a democracy. if i want to have sex with sheep or a broker some where else thats up to me. if caught its up to the judicial. if i want to have sex with sheep or a outside broker then i should elect lawmakers to make it law. until use a condom
those who can, do. those who cant, talk about those who can
  • #413,097
  • Mar 24, 2011 2:32pm Mar 24, 2011 2:32pm
4168 to 4188....2.30 hours
  • #413,098
  • Mar 24, 2011 2:43pm Mar 24, 2011 2:43pm
Quoting Good Fortune
I don't think your breaking the law... Noone even knows what the law is. Noone really cares. Just a CYA move by the pols imo.
Ignorantia juris non excusat = (Latin for) Ignorance of the law does not excuse.

= Good Fortune.
  • #413,099
  • Mar 24, 2011 2:47pm Mar 24, 2011 2:47pm
Quoting gatorinla
in a democracy a majority (usually) elects law makers to make laws. being illegal to have sex with sheep or where my broker is located has nothing to do with being a democracy. if i want to have sex with sheep or a broker some where else thats up to me. if caught its up to the judicial. if i want to have sex with sheep or a outside broker then i should elect lawmakers to make it law. until use a condom
dam thats a good one
  • #413,100
  • Mar 24, 2011 2:48pm Mar 24, 2011 2:48pm
Quoting attila
(of course you can incorporate and all that to get around it, but why should i have to do that?).
Does that apply to 'S" corps also
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