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Ramblings of a Forex Junkie

  • #1,721
  • Mar 26, 2013 10:16am Mar 26, 2013 10:16am
Quoting rdsl
Do you have a separate computer for trading?
Just curious since I thought about doing that for a while now but never've actually done it ... yet.
For tax purposes you definately should have a seperate everything for trading. Designated office space, office furniture/equipment, etc. Don't want your business and personal items intermingled when it comes time to prove to the irs that this is a legitimate business.

Edit: In the USA atleast, can't speak for other countries.
  • #1,722
  • Mar 26, 2013 10:17am Mar 26, 2013 10:17am
It's kind of funny EJ and EU are on opposite sides of the previous week low. They are having a rumble to see who drives the bus.
  • #1,723
  • Mar 26, 2013 10:18am Mar 26, 2013 10:18am
Quoting Seneca pilot
If I didn't have family coming this week I would have gone to Florida. It snowed here yesterday. Hell its the end of March. Where is the warm weather. My heart isn't in it this week. Want to be sitting on a beach sipping adult beverages.
It's not warm here in FL (panhandle area) either, but definitely better than where I came from... The adult beverages haven't let me down though and apparently the spring breakers are still partying. They are making me feel really old, but I can still... actually in reality it's probably more like "hai guise" :nerd:

Anyways, fun looking at the action and watched some of it yesterday on E/U. Would have loved to have been in on it.

The "Captain" is calling...
  • #1,724
  • Mar 26, 2013 10:19am Mar 26, 2013 10:19am
Quoting Good Lookin
For tax purposes you definately should have a seperate everything for trading. Designated office space, office furniture/equipment, etc. Don't want your business and personal items intermingled when it comes time to prove to the irs that this is a legitimate business.
Yes and when you start writing off that space and percentage of the bills they will always come nosing around. Gotta have your ducks in a row. They already don't like that we can treat 60% as long term capital gains even though my average time in trade is around four hours. I have a great accountant, she's worth every penny.
  • #1,725
  • Mar 26, 2013 10:20am Mar 26, 2013 10:20am
Quoting TantumVerum
It's not warm here in FL (panhandle area) either, but definitely better than where I came from... The adult beverages haven't let me down though and apparently the spring breakers are still partying. They are making me feel really old, but I can still... actually in reality it's probably more like "hai guise" :nerd:

Anyways, fun looking at the action and watched some of it yesterday on E/U. Would have loved to have been in on it.

The "Captain" is calling...
Make sure you have a designated rower.
  • #1,726
  • Mar 26, 2013 10:20am Mar 26, 2013 10:20am
Would a close above 1.2883 represent a valid long on a 1HR breakout? If not why not?
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  • #1,727
  • Mar 26, 2013 10:21am Mar 26, 2013 10:21am
Quoting TantumVerum
It's not warm here in FL (panhandle area) either, but definitely better than where I came from... The adult beverages haven't let me down though and apparently the spring breakers are still partying. They are making me feel really old, but I can still... actually in reality it's probably more like "hai guise" :nerd:

Anyways, fun looking at the action and watched some of it yesterday on E/U. Would have loved to have been in on it.

The "Captain" is calling...
I lived in Tampa for two years. I bet it is at least 70 degrees there.
  • #1,728
  • Mar 26, 2013 10:24am Mar 26, 2013 10:24am
Quoting stevexyg
Would a close above 1.2883 represent a valid long on a 1HR breakout? If not why not?
It would Steve but its getting close to London close and the markets are really thin due to Easter. Many people are out of town for spring break with the kids. Next week will probably be more of the same. Not sure how big Easter is over in the UK but here schools are out for spring break and many people vacation.

EDIT: I would also be surprised if it did break out before London close.
  • #1,729
  • Mar 26, 2013 10:29am Mar 26, 2013 10:29am
FX book is telling me I have a 1.42% chance of losing ten percent of my account and it would take 19 consecutive losing trades. Is that good?

I am liking these analytics they are better than Tradestation. Lots of information.
  • #1,730
  • Mar 26, 2013 10:34am Mar 26, 2013 10:34am
Quoting Seneca pilot
Not sure how big Easter is over in the UK but here schools are out for spring break and many people vacation.
Point taken on lateness of day. I didn't get up till midday so thought it was about 11am. I really need some rest lol.
Pretty similar Easter by the sounds of it, kids go home for 2 weeks from Thursday...Friday and Monday are bank holidays.

Do you celebrate Jesus by eating big chocolate eggs over there too? For some reason that's what we do here.
  • #1,731
  • Mar 26, 2013 10:35am Mar 26, 2013 10:35am
Quoting Seneca pilot
FX book is telling me I have a 1.42% chance of losing ten percent of my account and it would take 19 consecutive losing trades. Is that good?

I am liking these analytics they are better than Tradestation. Lots of information.
Just curious, would you share your account to public?
  • #1,732
  • Mar 26, 2013 10:44am Mar 26, 2013 10:44am
Quoting stevexyg
Point taken on lateness of day. I didn't get up till midday so thought it was about 11am. I really need some rest lol.
Pretty similar Easter by the sounds of it, kids go home for 2 weeks from Thursday...Friday and Monday are bank holidays.

Do you celebrate Jesus by eating big chocolate eggs over there too? For some reason that's what we do here.
Hiding them then eating them. We also like to eat choclate bunnys. Scary if you ask me.
  • #1,733
  • Mar 26, 2013 10:49am Mar 26, 2013 10:49am
Quoting kk007
Just curious, would you share your account to public?
I will once it has enough trades. Right now it is only two days old so the stats don't have any statistical weight. I plan to make it public at about 100 trades or three months whichever comes first. When I make it public it will be completely public. You will see lot sizes, open trades, and the complete history. I threw a couple hundred on top of my test account and opened a new clean sub-account for this experiment. Everything traded on that will be the strategies discussed here. No testing will be done in this account while I am getting my stats.
  • #1,734
  • Mar 26, 2013 11:17am Mar 26, 2013 11:17am
Quoting Seneca pilot
Hiding them then eating them. We also like to eat choclate bunnys. Scary if you ask me.
One of the best memories I have is of being told the Easter bunny is hiding eggs in the garden and that we are to wait quietly indoors untill he was gone then go out to find them all. Pure magic. Mystery and chocolate, what could be better.
  • #1,735
  • Mar 26, 2013 12:11pm Mar 26, 2013 12:11pm
Quoting Seneca pilot
I will once it has enough trades. Right now it is only two days old so the stats don't have any statistical weight. I plan to make it public at about 100 trades or three months whichever comes first. When I make it public it will be completely public. You will see lot sizes, open trades, and the complete history. I threw a couple hundred on top of my test account and opened a new clean sub-account for this experiment. Everything traded on that will be the strategies discussed here. No testing will be done in this account while I am getting my stats....
I may be wrong but it seems to me that there is a date back feature, you can put your account on and set the date that you want to show as the effective date for displaying the performance. If it is not on myfxbook, it may be on the trade explorer on forexfactory.

If I am wrong, just ignore this post....
  • #1,736
  • Mar 26, 2013 1:33pm Mar 26, 2013 1:33pm
Quoting kk007
I may be wrong but it seems to me that there is a date back feature, you can put your account on and set the date that you want to show as the effective date for displaying the performance. If it is not on myfxbook, it may be on the trade explorer on forexfactory.

If I am wrong, just ignore this post....
True for the explorer here on FF. I don't think its true for the other site. I want a completely transparent and full history of a clean account in case I decide to go the provider route later. The date back feature on the FF explorer allows people to cheat the system by erasing bad periods and showing recent streaks for the performance of the system as a whole. The other site gets the entire history of the account. As long as you are showing open trades and a complete history on there it is almost impossible to cheat. I want people to see the power of a method that has low drawdown and can produce good win rates and steady performance.
  • #1,737
  • Mar 26, 2013 1:48pm Mar 26, 2013 1:48pm
Hey Seneca

Wish you well in your venture.............are you using all your lines for this account?
  • #1,738
  • Mar 26, 2013 2:05pm Mar 26, 2013 2:05pm
Nice Easter to you all.
  • #1,739
  • Mar 26, 2013 2:23pm Mar 26, 2013 2:23pm
Quoting FOURX
Hey Seneca

Wish you well in your venture.............are you using all your lines for this account?
Thank you!

Daily open, highs, and lows along with the occasional news trade. Super simple.
  • #1,740
  • Mar 26, 2013 3:16pm Mar 26, 2013 3:16pm
Something to think about.

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