Economic Calendar - forex trading tax irs

Economic Calendar ~ forex trading tax irs

Earlier, actually in the last post i wrote about importance of knowing what economic data that affect Forex market will be relased and when. This information alone can save you a lot of pain, because, after some key economic indicators are relased, prices in just few minutes can go +200 pips up, and then out of sudden 300 pips down.

This mainly affects day traders or scalpers, and the EURUSD currency pair. I belive there are many ways you can deal with market moving indicators, but i will list two of my ideas i have came up with:

• Few minutes before economic data announcement hedge your position.
• Not all Forex brokers allows to hedge, if yours not, then you can close your position before data release and open a new one after market will "calm down".

And obviously do not make new trades (other then hedges) before economic data announcement.

More over important economic data dictates trend of the market, so you can use it for simple Forex fundamental analysis.

But the most important question here is, where do i get this data and how will i know which is important and which is not? My all time favourite source for economic data is bloomber economic calendar, which you can find here: ECalendar.

I like this calendar because, it places icon next to particular event, which tells me how important this event is, so i do not have to make my own research on every single event.

From my experience i can tell you that, two events responsible for the biggest moves are: Employment situation and FOMC meeting.
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Very easy to follow and very profitable !! - forex trading tax in india

Very easy to follow and very profitable !! ~ forex trading tax in india

Do you know? At least 90% of new Forex traders lose all their money within Their first 3 months of trading, Moreover most of beginner traders are bankrupt !!   Why does it happen ?   Because Most of Beginner Traders are just using their "INTUITION" without seeing or learning trend forex ...   This means that they have no idea what the heck they are doing! They just jump into the forex market blindly with only hopes and dreams And rely on the flip of a coin to determine their success.   90% of Forex traders are uneducated and lack the basic knowledge of how the Forex really works. They rely solely On luck without LEARNING ANY OF THE BASICS AT ALL! And reliable sources suggest that up to 10% of these Under- informed Forex traders end up losing their entire trading account! . . So why do they FAIL..They only use instinct without learn trend market price and initially over confident and consider Their quick 5 minute market analysis to be 100% correct. More often they are 100% WRONG!   Avoid using intuition in forex trading without good accuracy !! ..

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How can YOU Earn Thousands of Dollars Each Day - forex trading tax in south africa

How can YOU Earn Thousands of Dollars Each Day ~ forex trading tax in south africa

FOREX (FOReign EXchange market) is an international foreign exchange market, where money is sold and bought freely. In its present condition FOREX was launched in the 1970s, when free exchange rates were introduced, and only the participants of the market determine the price of one currency against the other proceeding from supply and demand.

As far as the freedom from any external control and free competition are concerned, FOREX is a perfect market. It is also the biggest liquid financial market. According to various assessments, money masses in the market constitute from 1 to 2 trillion US dollars a day. (It is impossible to determine an absolutely exact number because trading is not centralized on an exchange.) Transactions are conducted all over the world via telecommunications 24 hours a day from 00:00 GMT on Monday to 10:00 pm GMT on Friday. Practically in every time zone (that is, in Frankfurt-on-Main, London, New York, Tokyo, Hong Kong, etc.) there are dealers who will quote currencies
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Day Trading Forex Currency - forex trading tax implications uk

Day Trading Forex Currency ~ forex trading tax implications uk

Right, day trading today. People are very interested in the concept of day trading. And i think there are at least few reasons for this. Before i will go into details, lets define day trading, what it really is.

On Forex day traders are guys who make a lot of trades (like over 10) in a single. Each of the trade is closed by the end of trader trading session, on Forex it usually means turning your computer off. Note that this is not the same as scalping. The only similarity between scalping and day trading is that, a lot of traders fail there.

Main resaon for this is that traders are tempted with huge profits, when doing day trading people are almost always using huge lavereages, like 100:1, it means buying 10 Lots with 10 000$. I think you can easily see how much one PIP is worth then, yeah it is 100$. It seems great at first, looks like a quick cash, but consider the fact that you only need 100 PIP move in the wrong direction to meet mr. Margin Call.

In reality when you trade on such high leverage it looks like everything is happening with a speed of light, while in fact it all happens with a normal speed, it is this ridiculous leverage that makes things harder.

Next thing you need to consider when you want to do day trading on forex currencies, is that not every broker will be happy with what you are doing, they may close your account or limi your leverage if ... you will start making money. So chose your broker wiseley checkout Forex forums and read brokers reviews make sure they allow day trading.

You may now think, wow day trading is hard. Well in fact it really is harder then you think. I am not saying it cannot be done, i am not saying you cannot earn like 200% a month. I am just saying that success with day trading want happen overnight, if you focus on it and commit to becoming day trading the success will come with time and experience.
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