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As simple as possible: 00 level trading

  • #6,861
  • Jul 1, 2014 5:39am Jul 1, 2014 5:39am
[quote=Callum;7573349]{quote} Half your luck, if you have a decent profession in Australia and are making money in forex as well then we are paying upwards of 40% to almost 50% tax... to my knowledge so far (and I havent looked really deep into it yet - as I don't make money in forex so far) there is no easy way around it... you can setup a company to run forex under, and pay company tax which is lower but if you take money out for personal use you'll be back at 40+%. 26% sounds like a dream![/quote


its the lowest tax bracket in Italy, so I am not complaining

find an accountant, he/she should be able to help you on these issues... a good accountant should save you money..

Udine
Sleep less, live fast, as it aint gonna last
  • #6,862
  • Jul 1, 2014 5:50am Jul 1, 2014 5:50am
Quoting sj9bp20
Udine, Thanks for a nice easy trading system. Have just started using it with promising results. I have just one issue and thats with the Wheelbarrel EA which I applied today. I normally trade longer timeframes. 1h, 2h and daily. Having placed the EA on a new chart on a new profile it immediately stopped out all my longer term trades with its 3.5pip sl. Is there a cure for this within a single trading account? Im guess a manually applied trailing sl or a completely separate trade account. Thanks

sorry about that, but the wheelbarrel controls all charts, not only the one its put on..

so it looks like you need to use an alternative EA..

Udine
Sleep less, live fast, as it aint gonna last
  • #6,863
  • Jul 1, 2014 6:17am Jul 1, 2014 6:17am
Quoting Callum
{quote} 26% sounds like a dream!
How about 13% in Russia?
We can actually get 6% if run via sole proprietor or company (legal entity) if annual revenue is less than 60 million rubles (now around $1,76 million).

But, of course, there are a lot of other differences in our countries
Let's go with the flow
  • #6,864
  • Jul 1, 2014 6:23am Jul 1, 2014 6:23am
Quoting artem_t
{quote} How about 13% in Russia? We can actually get 6% if run via sole proprietor or company (legal entity) if annual revenue is less than 60 million rubles (now around $1,76 million). But, of course, there are a lot of other differences in our countries

now I understand why there are so many russian traders

Udine
Sleep less, live fast, as it aint gonna last
  • #6,865
  • Jul 1, 2014 6:35am Jul 1, 2014 6:35am
Quoting Udine
{quote} now I understand why there are so many russian traders Udine
Taxes are similar for any kind of business here - no matter whether it's trading or something else.
I guess the main reason is still search for the financial independence and freedom. At least, for me
Let's go with the flow
  • #6,866
  • Jul 1, 2014 6:41am Jul 1, 2014 6:41am
Thank you for sharing, this is really helpful.
  • #6,867
  • Jul 1, 2014 6:43am Jul 1, 2014 6:43am
In Sweden we pay 30% tax on Forex trading
  • #6,868
  • Jul 1, 2014 6:45am Jul 1, 2014 6:45am
Quoting KennyForex
In Sweden we pay 30% tax on Forex trading

not great, but not bad either..

Udine
Sleep less, live fast, as it aint gonna last
  • #6,869
  • Jul 1, 2014 6:48am Jul 1, 2014 6:48am
Quoting Udine
{quote} not great, but not bad either.. Udine
In china, people don't pay tax for forex as well as stock.
Outcome is not important at all, but correct technique is what only matters
  • #6,870
  • Jul 1, 2014 6:50am Jul 1, 2014 6:50am
Quoting szpowerx
{quote} In china, people don't pay tax for forex as well as stock.
damn so lets all move to Hong Kong then..

Udine
Sleep less, live fast, as it aint gonna last
  • #6,871
  • Jul 1, 2014 6:52am Jul 1, 2014 6:52am
Quoting Udine
{quote} damn so lets all move to Hong Kong then.. Udine
I guess that is why so many foreigner stays hong kong.
Outcome is not important at all, but correct technique is what only matters
  • #6,872
  • Jul 1, 2014 6:56am Jul 1, 2014 6:56am
gu+5
Attached Image (click to enlarge)
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  • #6,873
  • Jul 1, 2014 6:56am Jul 1, 2014 6:56am
In Poland it is 19% tax for forex

I have jumped here few times to read few pages during last three weeks so it is possible that i miss some important informations about this method.
But i would like to ask question.

I can see sell oportunity at 8130 level (H1 and D1 in aggrement) . But i am sure it is not too smart to enter near daily open level.
How do you manage this situation? As we can see it would be loss trade.
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  • #6,874
  • Jul 1, 2014 6:59am Jul 1, 2014 6:59am
Hi all,
could someone please reply to the following:
What currency crosses are most likely to result in slippage when red news is released for the USD....all maybe????
  • #6,875
  • Jul 1, 2014 7:03am Jul 1, 2014 7:03am
Quoting pj9999
Hi all, could someone please reply to the following: What currency crosses are most likely to result in slippage when red news is released for the USD....all maybe????
all...i had slippages up to 20-30 pips...positiv and negativ
but the best is try by yourself
so avoiding RED NEWS makes sense;-)
  • #6,876
  • Jul 1, 2014 7:05am Jul 1, 2014 7:05am
Quoting Juan007
gu+5 {image}
good work Juan, I got that one as well. Up 1.8% today which is 2 winning trades and 3 break evens that cost me a little bit of commission... Now I am done, feels like its been a tough session and I have an early start in the morning unfortunately
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  • #6,877
  • Jul 1, 2014 7:08am Jul 1, 2014 7:08am
Quoting iwan73
In Poland it is 19% tax for forex I have jumped here few times to read few pages during last three weeks so it is possible that i miss some important informations about this method. But i would like to ask question. I can see sell oportunity at 8130 level (H1 and D1 in aggrement) . But i am sure it is not too smart to enter near daily open level. How do you manage this situation? As we can see it would be loss trade. {image}

too close for me...
I would take the next one, but only if it would be the first 00 level

Udine
Sleep less, live fast, as it aint gonna last
  • #6,878
  • Jul 1, 2014 7:15am Jul 1, 2014 7:15am
Quoting Callum
{quote} good work Juan, I got that one as well. Up 1.8% today which is 2 winning trades and 3 break evens that cost me a little bit of commission... Now I am done, feels like its been a tough session and I have an early start in the morning unfortunately {image}

gu be commission problem check i loss
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  • #6,879
  • Jul 1, 2014 7:30am Jul 1, 2014 7:30am
GU to target, halfway there -
Attached Image (click to enlarge)
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Small disciplines repeated with consistency lead to great achievements.
  • #6,880
  • Jul 1, 2014 7:35am Jul 1, 2014 7:35am
Quoting jmflukeiii
GU to target, halfway there - {image}

good choice..

both GJ and GU are up for the day, so nicely in sync... GJ had reached the ADR already, so GU was a great choice..

Udine
Sleep less, live fast, as it aint gonna last
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