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The Really Useless Thread

  • #144,061
  • Edited 12:17am Oct 11, 2016 12:06am | Edited 12:17am
^

Yeah- the issue is finding a Forex-specific CPA....no luck so far. Best I've been able to find is that site, but I'm looking local as well. These guys do offer assistance with your local CPA regarding trading specific approaches, so that maybe a good route.
  • #144,062
  • Oct 11, 2016 1:22am Oct 11, 2016 1:22am
E/u :

hmm... break or no break ....
Re-Incarnated
  • #144,063
  • Oct 11, 2016 2:25am Oct 11, 2016 2:25am
USDOLLAR nearing old resistance near 12.213 might be sisse's rainmaker on EU 1.1080

USDOLLAR D1:
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Don't be a hero. Don't have an ego. Always question yourself
  • #144,064
  • Oct 11, 2016 4:18am Oct 11, 2016 4:18am
EZ completing a very solid round of numbers and the 1.11 handle in the Euro is for the 5th time under attack. More importantly all eyes in Sterling at key and last 'pseudo' reference level 1.1228x. Below is just air until a +30 year FA steel reference only support at 1.217x before ultimate panic (locked for now).... all via FED Rates for now but any sneeze from banks (DB) or the UK talking heads will add momentum ....

Not much to see until the main dish this week with the Minutes. Expecting NY to wake up after the second horrendous 3er world country politics debate with some appetite for Equities as the map got a tiny bit clearer in the election front after last week soap opera....

European equities looks rather happy after the round of news and failure to take the lows (Euro and Sterling) in the FX board on the top of next hour will let NY to decide if we play ball or chop until tomorrow in Dollar...

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,065
  • Oct 11, 2016 6:31am Oct 11, 2016 6:31am
Quoting Pharm0r
{quote} I wanna see how 7530 reacts, if so then 7650 (posted in the chart) should still have a fighting chance by mofu rules. Whether or not the dollar will pull back long enough to get there is another story. I like 7608 too on the 4 hour hammer
I might take a chance on some longs at 7515 weekly support and/or 7488 monthly support...
Look Sharp/Trade Tight
  • #144,066
  • Oct 11, 2016 6:41am Oct 11, 2016 6:41am
...and about fck time ...after a rather choppy and long time for such a small target, clearing first main target in Euro mid term swing on the test 1.108x. Well done all those holding short from the 1.13xx handle and below. NY for a break play for tomorrow Minutes ...

For those in OIL is mini 'fill or kill' for the opening range, on the rest of the board nothing new ...so ...same levels same trades, same all.

sisse

--- --- ----

Also a quick update on the iteration 19 front ...stochastic slow entry target hit ...there is no new table open as all calls from 19c last week are extended by default (its the same trade)

Quoting sisse
{quote} +++++ TABLE CLOSED Iteration 19C +++++ Currently Euro trading @ 1.113x " ...
Quoting sisse
{ +++++ Opening Iteration 19A +++++ Currently Euro trading @ 1.117x " ...Sell (Stoch Entry)
-> LMT SELL 1.128x [check]-> TP1 => 1.118x [check] -> TP2 =>1.108x....... | STP => 1.136x

Question 19A: We cleared the summer with a very vocal Yellen. How would you manage the remaining position?
Sell (Stoch Entry)
-> LMT SELL 1.128x [check]-> TP1 => 1.118x [check] -> TP2 =>1.108x[check] =>TP3=> P3 1.098X....... | STP => 1.136x[trailled or same depending on 19c selection]

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,067
  • Oct 11, 2016 7:19am Oct 11, 2016 7:19am
Quoting PayTheLimit
{quote} I might take a chance on some longs at 7515 weekly support and/or 7488 monthly support...
No longs for me on AU, but look at dollar- there's a short opportunity there

Quoting Pharm0r
Heads up, dollar really wanting to break that wedge, new high already- need a close and a test of 97.46/97.62 is likely. Already got the 4 hour close thats normal TA, not spooky mofu
  • #144,068
  • Oct 11, 2016 7:45am Oct 11, 2016 7:45am
Quoting Pharm0r
{quote} No longs for me on AU, but look at dollar- there's a short opportunity there {quote}
I don't have a dollar chart handy.....
Look Sharp/Trade Tight
  • #144,069
  • Oct 11, 2016 8:10am Oct 11, 2016 8:10am
Quoting Pharm0r
{quote} {quote} For trading- a way around the "trader" IRS designation is to have LLC or entity. Looking at having these guys handle my taxes this year...most likely 40% tax on profits (which REALLY grinds my gears considering my success this year...essentially working 4 months for free just to pay off uncle sam). Girlfriend is a realtor and I'm looking to invest in rentals down the road as well- wanting to explore wrapping the whole shebang up under LLC with 1 or 2 partners (myself and possibly g/f). Maybe even more down the road NOT looking for...
Pharm0r

in the US the tax on trading would be 40% with an LLC? It sounds like a lot. I invest in real estate through LLC and the tax there for investment properties (not so different from trading) is max 20%. A bit surprised.
"Bulls make money, bears make money, pigs get slaughtered"
  • #144,070
  • Oct 11, 2016 8:35am Oct 11, 2016 8:35am
Eyes on the open but more importantly for trading today on the European close. FTSE unlocking the traditional 'choose your poison time' [finally for those looking for the ride on Article 50...] for the mid term leg.

--> Early bargain sales opening but extremely risky tickets available from this week onwards. Fading the highs (from the way down on any overshoot 'capitulation rally' clearance 7140+++ is the no brainer TA entry] but BOE is still in play and Sterling momentum after the capitulation hammer it could easily and artificially pump those valuation in UK stocks for a bit more.

--> if you don't know exactly what you are doing or how to squeeze that leg via any direct or indirect instrument or options play is not the one to learn as it's a very advanced play for mid term macro move [there will be plenty of opps to ride it later].

--> This is officially the opening of the most important leg in pay for 2017 in Europe and probably worldwide...so all eyes on that one as Sterling start passing on the baton in the next couple of months to Equities in the UK.

***Post bookmarked for later reference alerts as this is a key development TA wise [FA we already have it 2 weeks ago with Article 50 announcement....]

sisse
Pending conversations? PM for a chat...I am mainly in OTM now
  • #144,071
  • Oct 11, 2016 8:41am Oct 11, 2016 8:41am
Quoting manosk
{quote} Pharm0r in the US the tax on trading would be 40% with an LLC? It sounds like a lot. I invest in real estate through LLC and the tax there for investment properties (not so different from trading) is max 20%. A bit surprised.
No, cheaper through entity (like LLC) as Fool stated

60/40 for forex- unless you can get your wages down into the 15% tax bracket
  • #144,072
  • Oct 11, 2016 8:46am Oct 11, 2016 8:46am
Quoting PayTheLimit
{quote} I don't have a dollar chart handy.....
sorry took a bit
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  • #144,073
  • Edited 8:58am Oct 11, 2016 8:47am | Edited 8:58am
Hi Sisse

As OIL is in focus at the moment I am posting my Mid term chart and then my short term chart .
I am also hoping I am getting somewhere.

Nutts
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  • #144,074
  • Oct 11, 2016 9:59am Oct 11, 2016 9:59am
There she goes
  • #144,075
  • Oct 11, 2016 10:02am Oct 11, 2016 10:02am
Quoting Pharm0r
{quote} sorry took a bit {image}
thanks dude
Look Sharp/Trade Tight
  • #144,076
  • Oct 11, 2016 10:04am Oct 11, 2016 10:04am
alright enough of this....

gonna work some 114.27 bids in EUR/JPY, risk 30, try for 130...not seeing much else to do, talk laters, gl, PTL
Look Sharp/Trade Tight
  • #144,077
  • Oct 11, 2016 12:01pm Oct 11, 2016 12:01pm
New candle pattern alert!!

"The Grim Reaper"
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  • #144,078
  • Oct 11, 2016 12:02pm Oct 11, 2016 12:02pm
Quoting pharm0r
new candle pattern alert!! "the grim reaper" {image}

hahahahah hilarious... Spit out my coffee hilarious
  • #144,079
  • Oct 11, 2016 12:15pm Oct 11, 2016 12:15pm
i feel like there is a lot of stops right under the 1.1050 mark on EU....
  • #144,080
  • Oct 11, 2016 12:17pm Oct 11, 2016 12:17pm
Dollar: new highs
AU/GU/EU: new lows
UJ: new lows. Thus why I dont like trading UJ.
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