Forex Cryptocurrency General Chit Chat Thread 2019

[MrPippen]

wow like so many sexperts here

anyway serious question

need declare profits and pay tax?
or wait for them come find you?
or read somewhere dont need pay tax at all for traders??

I've been trading full time at home for 3.5++ years now
so naturally getting a bit worried about this tax stuff.

Calling IRAS now!

Joking, IDK, let the sexperts enlighten you ba! TGIF!

 

[MrPippen]

李一铜万岁！!!!!!!!
Ecs aka FCS? 万万岁！

NPNT rah! post pics!

 

[MrPippen]

Trying my best hitting posts cow

Come I help you....you can just pcw in my edmw thread..very fast and no one will report you


Lai, what FCS think of Gold? Very violent move the last 24 hours!

 

[soiheardyouwanttobefamous]

Depends on what your tax strategy is...you want to make money and not pay tax then use personal account. Your profits are capital gains and not taxable. Don't need to declare.

If you are using loss to offset profits you are making from other business then structure as corporate and use company account...use your losses to reduce taxable income and pay less tax.

If need more creative ways then need consultation to see what you actually want to achieve.

That's what i've read also, its not taxable only if trading is part time.

dunnoe how legit or outdated this website is
ww w.daytrading.com/taxes/singapore

but it says if trading is my only income i need to declare everything and pay tax?

also that website say money not withdrawn to singapore account dont need to declare, so actually past couple of years i pay for stuff as much as possible by paypal and withdraw only what i need to bank account.

abit confuse.

 

[jasonlim1988]

ECS start ur own equity trading thread lei. I go follow. Here all folex see don't know.

 

[soiheardyouwanttobefamous]

troll ranjiao
karma probably u will kena first cos of yr **** attitude

if u have FF TE can mutual buddy me and share each other's live trading history, trades and position.

but i not interested to see account with net profit lesser than 6 digit.

 

[MrPippen]

Yup...just before Christmas 2018...can say 4 months now

Very impressive results indeed! Now that you have done 5x...what's next? 10x? Like the Sheng Siong show?

 

[MrPippen]

Brexit: UK asks EU for further extension until 30 June


Theresa May has written to the European Union to request a further delay to Brexit until 30 June.

The UK is currently due to leave the EU on 12 April and, as yet, no withdrawal deal has been approved by MPs.

The prime minister has proposed that if UK MPs approve a deal in time, the UK should be able to leave before European Parliamentary elections on 23 May.

But she said the UK would prepare to field candidates in those elections, in case they do not reach agreement.

Meanwhile the BBC's Europe editor Katya Adler has been told by a senior EU source that European Council President Donald Tusk will propose a 12-month "flexible" extension to Brexit, with the option of cutting it short, if the UK Parliament ratifies a deal.

But his proposal would have to be agreed unanimously by EU leaders next week. The prime minister wrote to Mr Tusk to request the extension ahead of Wednesday's meeting.

She requested an extension to the end of June at the last summit, which took place shortly before 29 March - the date the UK was originally meant to have left the EU.

But she was offered a short delay to 12 April - the date by which the UK must say whether it intends to take part in the European Parliamentary elections - or until 22 May if UK MPs had approved the withdrawal deal negotiated with the EU. They voted it down for a third time last week.

In her letter, she says the "impasse cannot be allowed to continue", as it was "creating uncertainty and doing damage to faith in politics" in the UK.

She said if cross-party talks with the Labour Party could not establish "a single unified approach" in the UK Parliament - MPs would be asked to vote on a series of options instead which the government "stands ready to abide by".

She wrote that the UK proposed an extension to the process until 30 June and "accepts the European Council's view that if the United Kingdom were still a member state of the European Union on 23 May 2019, it would be under a legal obligation to hold the elections".

To this end, she says the UK is already "undertaking the lawful and responsible preparations for this contingency".

But it said if a withdrawal agreement could be ratified by Parliament before then "the government proposes that the period should be terminated early" so the UK can leave the EU before then, and cancel preparations for the European Parliamentary elections.

 

[MrPippen]

Tonight NFP!!!!!!!!!!!!!!!!!

 

[blurinvestor]

Gann - simplified:

Will it happen?

 

[jasonlim1988]

The FCS/ ECS died & Dio banned? Lol
Best way to kill a troll = Ignore ****.

 

[blurinvestor]

daily routine -

Do your homework and practice, marking on the higher time frame Support/Resistance.

Look for Supply and Demand as you drop to lower time frame (M15 for scalp) (H1/H4 for swing)

demo, demo, and demo

if you go live - ALWAYS, ALWAYS, ALWAYS prepare how much you want to give market NOT, NOT, NOT how much you HOPE/THINK you can win.

 

[MrPippen]

The FCS/ ECS died & Dio banned? Lol
Best way to kill a troll = Ignore ****.

he will be back....till then!

 

[MrPippen]

He is champion...one slap on all the fakes and they totally shut up !!!...no voice at all...good.

Now I am even more convinced you are Keverus...

 

[MrPippen]

Nah...don't know who that is... another 50% trader ???

Does he fly aeroplanes ?? paper and otherwise

He and FCS are BFFs..

 

[MrPippen]

No...don't be mistaken...this is not my work...I did not do it...the market gave me... I take what the market decides to award me with...if I chase and try to get what I want instead of what the market decides to give me, I will see disaster 100% of the time.

If I sit quietly and thank the market for what she decides to give me, I will see success 100% of the time...it may come fast, it may come deadly slow but 100% it will come...all great things come to those that wait !!!

You should read Mushashi Miyamoto's book...Go Ren No Sho... the book of 5 rings.... every Japanese businessman would have read it. In his book he talks about the Void...the last of the 5 rings and the one that matters the most.

Every profession has its own "WAY" and you are only good in that profession if you align yourself with the WAY...just as he has followed the WAY of the warrior and was undefeated...he was the last Samurai undefeated by none.

If you want to be a top trader...you must find and follow the WAY of the trader and the way of the trader is to wait till the time is right. That is why patience is paramount to the trader.

Very inspiring indeed!

 

[MrPippen]

London open in 5 minutes!

 

[MrPippen]

Just one more Cough...and we will hit $30,000 !!!

You are all privileged here to be able to see how Expert Forex Traders work the markets to get their profits not like the fakes that talk so much and you see nothing.

Indeed we are!!

 

[blurinvestor]

Look Left

Stay on the right side.
There is only one side of the market.
You must learn how to see it and learn how to trade it.
Train your mind to see.

 

[Shiny Things]

Just one more Cough...and we will hit $30,000 !!!

Hi mate! You're confusing your cash balance with your account value again!

Did you notice that your cash went up when you rolled your EUR call strikes from the June to the October?

That's because you sold more options!

When you sell options, you receive the premium, and that makes your Cash Available go up. But on the other side of the ledger, you're now short more options. The market value of those options is equal to (in fact, usually greater than) the premium you receive.

I took the liberty of copying a couple of your portfolio screenshots to show you what's happening. The top one is from Monday morning; the bottom one is from Tuesday morning.

You were short EUR 130k of the Jun 3rd 1.16(ish) EURUSD calls (your screenshot doesn't show the exact strikes you're short, so I had to price them up, but I think I'm within about 50 pips). Those were valued at about $200 USD.

You bought those back, and sold EUR 150k of the 23rd Oct 1.16(ish) calls (again, I had to price it up to check, but the premiums look right). Those are valued at $2000-ish USD.

Very roughly, you sold the 23rd Oct and earned $2000, but you paid $200 of that to buy back the 3rd Jun. Net-net, you earned $1800 - but you also have a $1,800 greater liability, because you're short a larger amount of longer-dated options. (It looks like you sold another EUR 20k notional of the 1.13 EURUSD puts, which is where the extra $200 of premium came from. Again: $200 more cash, but $200 more liabilities as well.)

Your account value was almost unchanged - in fact, you lost four dollars - because you have more cash but also more liabilities from the options. Your cash balance went up by $2,000, but your liabilities increased by $2,000 as well, so you haven't actually made any profit on that trade.

When the options come closer to expiry and decay in value, then you'll see your account value go up. But you haven't made any money today - you've just taken more risk.

Does that make sense?

---

MrPippen, this guy is being misleading; don't let yourself be fooled. The number that matters is his Account Value.

If he wanted to, he could make his Cash Available basically any number he wanted by selling enough options of the right strike and tenor. For example, for each extra EUR 100k of the 23-Oct 1.13 EURUSD puts he sells, his Cash Available will go up by about $3,000. But that's not profit; that's extra risk he's taking on, and you can tell it's extra risk because his Account Value doesn't change.

I'm not saying he's trying to fool you, but he's fooling himself. He thinks that a higher Cash Available means he's actually made a profit.

He's certainly made money, but he hasn't made anywhere near $30,000. He has $30k of cash in his account, but against that he has a liability of over $15,000.