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Genesis Matrix Trading

  • #17,441
  • Aug 28, 2013 6:51pm Aug 28, 2013 6:51pm
Quoting jjre65
{quote} Hi Here in NZ Im pretty sure that if trading is your primary source of income then you are subject to normal income tax laws If it is a sideline and you earn less than your 'job' it is tax free, as is gambling Bit of a grey area here too and the authorities rely on an honesty policy I think this is how it works... J
Yes that's correct. There is no need to be tax registered as a 'company', but to be registered as a 'Sole Trader' instead. A 'Sole Trader' covers any owner-operated business that does not have employees.....much like a truck owner-driver, ar a owner-operator plumbing contractor etc etc. We have to be GST (same as the UK's VAT but cheaper) registered as well, and this comes in handy because as a 'Sole Trader' working from home I can claim a percentage of my homes power cost, heating costs, 100% of my 'plant and equipment' (in other words, my computer, printer etc etc), a percentage of coffee and food etc etc etc....depending on how good the accountant is!! My 'Sole Trader' company is taxed on any profits it shows, which is why it's good to not show profits on the books, and I am personally taxed on any money I withdraw (drawings) as my salary.

The grey area is that NZ wants to tax the money that sits in the brokers account, but I contend that this money is not yet in the 'company' bank account, and so is not yet taxable. It only becomes taxable when it actually enters the bank account of the 'Sole Trading' company, from which the 'company' can disburse the money for costs like my salary, repairs and maintenance, other costs (like power etc ) etc etc. This is an ongoing battle with IRD, and I will probably lose that one in the end, but by the time that happens, hopefully I will have come up with another idea to keep IRD off my back!!

I don't mind paying taxes because that's how the country moves ahead, I just want to pay my fair share and not a cent more!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,442
  • Aug 28, 2013 6:54pm Aug 28, 2013 6:54pm
Quoting kosmo
{quote} One look at the M15 stoch would keep me away from entering a long trade there. The stoch was flat below 20, showing bear strength, plus the M5 stoch shot up reaching the 80 level very quickly... too quickly. It's usually a sign of PA just resetting before (at least) testing the last low. The next signal looks much better, but personally, I would be very reluctant to enter longs on EA at the moment. Just my 2c, hoping you don't mind
Yep....I agree too.....the M15 stoch in that screenshot appears to be on the floor and out for the count!! I would be keen to go against that!!

And nice trading too Jo....well done
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,443
  • Aug 28, 2013 7:00pm Aug 28, 2013 7:00pm
Pretty much the same here in Oz as well. If you actively trade then any profits become part of your taxable salary. Claiming for equipment etc and anything that allows you to earn that income is tax deductible. When you earn enough you form a company, as we pay a straight 30% tax in a company, but there are way more things you can achieve within a company...........way more................so I trade under a company name.

PM1
  • #17,444
  • Edited 7:18pm Aug 28, 2013 7:05pm | Edited 7:18pm
Quoting PipMonster1
Pretty much the same here in Oz as well. If you actively trade then any profits become part of your taxable salary. Claiming for equipment etc and anything that allows you to earn that income is tax deductible. When you earn enough you form a company, as we pay a straight 30% tax in a company, but there are way more things you can achieve within a company...........way more................so I trade under a company name. PM1
Yup....very similar......there are lots of ways around many things as I sure you know......I love it when the company buys me fush and chups for lunch!!!
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,445
  • Aug 28, 2013 7:30pm Aug 28, 2013 7:30pm
Yesterday about the same time with EA setup, there's also a similar setup for EJ. Considering a high impact news released in the next 15 minutes, I decided to pick only one pair in case price made sudden reversed. Well, obviously I picked the wrong one
While EA got down to next pivot target, EJ finally got stop this morning at Tokyo open.
Any comment about this trade would be appreciated, I marked the entry with "Entry 2" on the chart.
(Entry 1 was taken earlier, half close @20 pips, another @BE +2)

-dc-

Edit: I picked EJ because the price seemed stalled below pivot, while EA was above pivot around R1.
Attached Image (click to enlarge)
Click to Enlarge Name: EJ-2013-08-29_0723.png Size: 46 KB
  • #17,446
  • Aug 28, 2013 7:58pm Aug 28, 2013 7:58pm
  •  Jamz
  • | Joined May 2012 | Status: Tops and bottoms are for bikinis | 798 Posts
Quoting realjumper
{quote} Yup....very similar......there are lots of ways around many things as I sure you know......I love it when the company buys me fush and chups for lunch!!!

Don't forget to have your AGM in Hawaii......
  • #17,447
  • Aug 28, 2013 8:15pm Aug 28, 2013 8:15pm
Quoting Jamz
{quote} Don't forget to have your AGM in Hawaii......

You mean...like....a SUMMIT?????
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,448
  • Aug 28, 2013 8:22pm Aug 28, 2013 8:22pm
Quoting dreamcatcher
Yesterday about the same time with EA setup, there's also a similar setup for EJ. Considering a high impact news released in the next 15 minutes, I decided to pick only one pair in case price made sudden reversed. Well, obviously I picked the wrong one While EA got down to next pivot target, EJ finally got stop this morning at Tokyo open. Any comment about this trade would be appreciated, I marked the entry with "Entry 2" on the chart. (Entry 1 was taken earlier, half close @20 pips, another @BE +2) -dc- Edit: I picked EJ because the price...
As you say, EJ was the wrong pair yesterday! There's no way to predict that and about the only thing I can say is that your entry was fine for Trade 2 but the current situation in Syria is making the Euro and the Yen behave a little out of character so I would avoid trading the EJ for that reason. Trading GJ for instance, at least the 'G' is behaving normally, as is the 'A' in EA. But with EJ, you're getting the worst of both sides. This is just my observation and may not be correct, but EJ is on the reserve benches along with EU for me, for the time being.
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,449
  • Aug 28, 2013 8:42pm Aug 28, 2013 8:42pm
+30 short on EA, TP on S1
Took it on BRN which was a bit risky but the trend looked good as did stochs on HTFs and moving away from DP

EDIT: TP snuck in just before news
Winning isnt everything but coming second sucks (Charlie Brown)
  • #17,450
  • Aug 28, 2013 8:50pm Aug 28, 2013 8:50pm
Quoting dreamcatcher
Yesterday about the same time with EA setup, there's also a similar setup for EJ. Considering a high impact news released in the next 15 minutes, I decided to pick only one pair in case price made sudden reversed. Well, obviously I picked the wrong one While EA got down to next pivot target, EJ finally got stop this morning at Tokyo open. Any comment about this trade would be appreciated, I marked the entry with "Entry 2" on the chart. (Entry 1 was taken earlier, half close @20 pips, another @BE +2) -dc- Edit: I picked EJ because the price...
Is the M15 trending down? Has it formed the mouth?

PM1
  • #17,451
  • Aug 29, 2013 1:15am Aug 29, 2013 1:15am
Quoting PipMonster1
Has it formed the mouth?
I love this.....what a great way to describe the situation
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,452
  • Aug 29, 2013 3:36am Aug 29, 2013 3:36am
All aboard the EA counter trade? Just watching from sidelines here.
  • #17,453
  • Aug 29, 2013 3:54am Aug 29, 2013 3:54am
Quoting hunter101
All aboard the EA counter trade? Just watching from sidelines here.
I thought about it but the sharp M15 climb and H1, H4 not out of the woods put me off.
Good pullback but not convinced its a reversal..............yet
Winning isnt everything but coming second sucks (Charlie Brown)
  • #17,454
  • Aug 29, 2013 3:57am Aug 29, 2013 3:57am
Quoting PipMonster1
{quote} Is the M15 trending down? Has it formed the mouth? PM1
Hi PM1,
I have re-looked at M15 mouth. Please CMIIW, I get the mouth as M15 stoch fast and slow gap is wide and steady. I marked the M15 mouth with yellow rectangle. Do I understand it right?
-dc-
Attached Image (click to enlarge)
Click to Enlarge Name: EJ-2013-08-29_1552_001.png Size: 42 KB
  • #17,455
  • Aug 29, 2013 4:12am Aug 29, 2013 4:12am
Just took CT on EA
a quick 21 pips ..
congested above S2 and 1.4800 BRN
exited just below S1


Jay





edit.. not my usual style as I am trying to go with the trend always..but it looked all lined up and I felt it was worth the risk to trust and believe in the signals....
Attached Image (click to enlarge)
Click to Enlarge Name: euraud.m5 6.50 pm 29.8.13.png Size: 87 KB
  • #17,456
  • Aug 29, 2013 4:25am Aug 29, 2013 4:25am
Quoting hungry pips
Just took CT on EA a quick 21 pips .. congested above S2 and 1.4800 BRN exited just below S1 Jay edit.. not my usual style as I am trying to go with the trend always..but it looked all lined up and I felt it was worth the risk to trust and believe in the signals.... {image}
That's a good example of a CT trade.....the signals were good, but it IS a CT trade, so take a modest quick-fire profit and get out again. Nicely done
Doing what you like is Freedom. Liking what you do is Happiness.
  • #17,457
  • Aug 29, 2013 4:54am Aug 29, 2013 4:54am
Quoting realjumper
{quote} That's a good example of a CT trade.....the signals were good, but it IS a CT trade, so take a modest quick-fire profit and get out again. Nicely done

cheers RJ
  • #17,458
  • Aug 29, 2013 5:21am Aug 29, 2013 5:21am
Quoting dreamcatcher
{quote} Hi PM1, I have re-looked at M15 mouth. Please CMIIW, I get the mouth as M15 stoch fast and slow gap is wide and steady. I marked the M15 mouth with yellow rectangle. Do I understand it right? -dc- {image}
Hi DC

Im much less qualified to comment than PM1, RJ and others.......but if I may.
Your M15 actually looks ok to me, its the conflicting messages on the HTF stochs that would have kept me out of the trade, plus the ranging PA to the left.
Have a look at M30, H1, H4 stochs at trade entry.

They dont need to all line up, but when 3 or all of them do I know there is going to be momentum behind the move.

JMO

J

EDIT: plus I think you entered right on BRN 130.0
Winning isnt everything but coming second sucks (Charlie Brown)
  • #17,459
  • Aug 29, 2013 7:36am Aug 29, 2013 7:36am
Quoting jjre65
{quote} Hi DC Im much less qualified to comment than PM1, RJ and others.......but if I may. Your M15 actually looks ok to me, its the conflicting messages on the HTF stochs that would have kept me out of the trade, plus the ranging PA to the left. Have a look at M30, H1, H4 stochs at trade entry. They dont need to all line up, but when 3 or all of them do I know there is going to be momentum behind the move. JMO J EDIT: plus I think you entered right on BRN 130.0
Hi,
thank you for your comment. I didn't notice the BRN
  • #17,460
  • Aug 29, 2013 9:41am Aug 29, 2013 9:41am
EURUSD M15 Chart short +91 pips...
Attached Image (click to enlarge)
Click to Enlarge Name: eurusdm15.png Size: 40 KB
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