Disliked{quote} I won't judge you, duck and dive all you can. Here in the UK I pay 40% income tax. This is why I spread bet as opposed to FX trade/CFDs. Spread bets are tax free.Ignored
- #10,101
- Apr 9, 2015 2:07am Apr 9, 2015 2:07am
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
- #10,103
- Apr 9, 2015 2:13am Apr 9, 2015 2:13am
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
{quote} No cap on taxes. If you operate as a business vs a self employed then you are taxed as a business not an individual. The tax rate is 20% but you then have to pay yourself dividends and things get complicated - hire an accountant to do it all. If you just want to dabble as a hobby (like me) then the simplest way is to SB. If you're full time then it is probably worth setting up a company and FX trading.
makes sense
- #10,105
- Apr 9, 2015 2:24am Apr 9, 2015 2:24am
{quote} Spread betting sounds dirty. Generally I see slightly higher spreads and poorer customer service than FX traders. I can only use brokers web platforms which are generally junk (I have a demo MT4 for charting). I prefer it in some ways (tax asside). You don't use 'lots' for SB, I just place a "Buy @ 0.50 per pip on GBP/USD" - price goes up by 10 pips I get 5 - very simple; no tax, no commision, no confusing lot size conversions.
- #10,106
- Apr 9, 2015 2:25am Apr 9, 2015 2:25am
- Joined Feb 2015 | Status: doing ninja shit | 2,077 Posts
- #10,109
- Apr 9, 2015 2:51am Apr 9, 2015 2:51am
{quote} Hi forexmeoff, no problem. I use them in context with the market, yesterday we had a strong rejection of DP 179.00/8.90. We closed @ DP 178.60/50; So I expected a test of DP 179.00/8.90 and since I already mentioned this DP in Post #9998, I set a sell limit order at 179.00 and just waited. Picture attached. My point is you have to observe market behaviour and set those DPs in context. Last but not least, waiting still the most important. Add: Since we are @ DP...
I'm still missing the context part, for example I thought that last night's was a pretty weak rejection and was expecting 178.5 to hold, though I set no trades. Lots to learn on DPs, I've been combining them with my 4H/Daily Supply/Demand trading and when valid areas match up with DPs the results are proving excellent so far.
Cheers Ray
- #10,110
- Edited 4:50am Apr 9, 2015 2:54am | Edited 4:50am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
{quote} Excellent
Thats what I mean with context, if you are wrong its probably vice versa. What I am doing I observe market and accept everything as it is. Easier said than done.
- #10,112
- Apr 9, 2015 2:58am Apr 9, 2015 2:58am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
Okay got a appointment, trade well. 
- #10,113
- Apr 9, 2015 2:59am Apr 9, 2015 2:59am
- Joined May 2011 | Status: [Forex]X-Ray | 4,835 Posts
{quote} Yes, still managed to grab 27 pips from the 1/2 DP - 178.2, would have missed that trade if I wasn't paying attention to the DP. I love how DPs give opportunities to trade in the middle, something you don't get with S/D trading, where you only have a top and bottom zone, with no opportunity to change positions and lock profits in a consistent, strategy-based approach until there's solid movement toward the opposite zone. A lot of power in this !
Add: Im glad you can make use of it
- #10,115
- Apr 9, 2015 3:14am Apr 9, 2015 3:14am
- Joined Nov 2009 | Status: Trader | 2,582 Posts
{quote} What TF are you using? I was trying to do some wave analysis yesterday but struggled with the correction. I don't trade waves but I find I'm generally quite interested in seeing them. EDIT Think I got it on the 4H. {image} What about... {image} Errrm, probably can't ignore the recent low in the second picture.
As promised. You had it right though. There were 5 waves and when completed, price fell to the mid point of a larger rising wedge, rose into resistance and then ....I'm still not totally convinced that the fun and games are over (read larger triangle) but we will see. But from a technical trade pov, it was simple. As I said, where it goes now is still questionable. Regardless, UJ should drop away soon.
