GOLD TRADING SYSTEM 90 WIN - forex trading tax advice

GOLD TRADING SYSTEM 90 WIN ~ forex trading tax advice

I have become disillusioned by automatic trading systems and sought to find a viable manual trading system or at least piece one together, test it, and become proficient in it enough to make steady money with it - this is what I have done with this system.

It is used on a 1hr spot gold chart and takes time into consideration for opening a successful order to take advantage of cyclical price acceleration at the given time. In the this case, during my observation and manual testing (with real money) for the past 6 months, this time is 30 minutes before the new york open at 9am EST (1400 GMT). At that time price has sufficient buying or selling power behind it to make great profit quickly and with minimal risk, given the conditions below are followed. This has worked unbelievably well for me and I would like to share it with all of you because this community has helped me throughout these years of my forex journey.

I will try to post trades I take with some frequency and answer any questions. Enjoy.


From Today: By the way Spot Gold does not calculate in pips and the volitility is much greater than that of the usual forex pair. So if you took this trade today like I did at 1 mini-lot (.1 - one dollar) and got out at the blue pivot line you would have made an easy $109 with very low risk 



Conditions for opening Trade:

For Buy

1. price above buy zone fib, blue rsi chart bar 

2. Williams percent range indicator gold line entering or inside blue area 
above -25.00

3. RSIOMA clearly crossed up

For Sell

1. Price below sell zone fib, red rsi chart bar

2. Williams Percent Range Indicator gold line entering or inside red area 
below -75.00

3. RSIOMA clerly crossed down


Exceptions for opening a Trade when above conditions are met:

1. When a bar within the last 4 hours before 9am EST (1400 GMT) is extended 1000 points or more in the same direction the conditions indicate. In this case it is my experience that there is a great pobablility that even with all the trade conditions met, by 9am EST (1400 GMT) the selling or buying would have been temporarily exhuasted because of this extended candle and this trading method is dependent upon this time.


Conditions for closing Trade:

Safest

1. When price hits next pivot point line in direction of trade.

Moderately Safe

1. When the RSIOMA blue line touches the purple line again attempting to cross in the opposite direction of trade or a red or blue dot shows on the RSIOMA indicator in the opposite direction of the trade - whichever comes first.

Attached Files

•   GOLD SYSTEM.zip

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10 Reasons Why You Should Be Online Forex Trading Today - free forex trading advice

10 Reasons Why You Should Be Online Forex Trading Today ~ free forex trading advice

The internet has revolutionized foreign exchange (forex) trading. Today, anyone can be an online forex trader. Here at 10 reasons why you should be online forex trading today:

1. With access to a computer and the internet you can instantly open a mini forex trading account with a forex broker for as little as $250. There are no lengthy opening proceeds to complete. This means you can start your forex trading today!

2. With a minimum opening balance with a forex broker being available for as little as $250, forex trading is the only real possibility for everyone to enjoy the thrill and spills of trading in a market on a daily basis. Thats not to mention the fact that everyone can now make money from an investment trading opportunity.

3. Forex markets are open 24-hours a day. This makes forex trading the only investment strategy you can take up which never goes to sleep.

4. Forex trading gives you access to an almost unlimited market for a minimal up front investment. For the first time, a trading market is open to both small and large investors, competing with one and other to make a profit on their trade.

5. Generally, commission fees are much lower with online forex trading than is the case with other forms of trading, such as stock trading. This means that not only can you start to trade with a small opening account balance, but less of your profits will get taken up with commission charges taken by your broker. As such, online forex trading can claim to be the only market this is available to all.

6. With access to the forex market being made available 24-hours a day, as an investor you can easily adjust your forex portfolio at any time of the day or night. The great benefit of this function is that if the market is taking a hit in Tokyo, you dont have to wait until New York opens before you can react to
this movement. You have the ability to act as soon as you see or feel that things are moving.

7. Unlike stock market trading, with fore trading it is easy to trade in exotic currencies and to speculate on markets outside of your home country of residence. Also, with many of the underlying factors being the same, you do not need to do extensive research or training in order to take advantage of this superb facility.

8. Most influences on a forex market are global. As such, unlike other forms of speculative trading, influence of the market by one person, organization or government is going to have much less of an impact on the market. Consequently, there is more control on what the influencing factors are than is the case with other investments.

9. With a mini forex trading account you can elect to do complicated day trading transactions or long-term investment strategies. The great scope of different types of forex trading available to you means that you can have a truly diverse forex investment portfolio.

10. Forex trading is fun, easy to learn, and offers traders a very real alternative to traditional forms of investment strategy.

While online forex trading has numerous attractive reasons why you should be online forex trading today, always remember that you should include this as part of your overall investment strategy and seek the advice of your financial advisor if you intend to make this a major part of your investment portfolio.
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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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How forex market should operate - forex trading income tax uk

How forex market should operate ~ forex trading income tax uk

Interesting article at Vanguard, author explains how Forex market should operate. Article is based on proposal for a liberalized foreign exchange market in Nigeria and its economic benefits.

Two most interesting sections selected by author are:

• How market will operate
• Payment for import and forex auction

"3.6 HOW THE MARKET WILL OPERATE
The CBN will consolidate the distributable portion of the dollar earnings monthly (or at worst bimonthly) in arrears. The realizable values will be published in appropriate government bulletins monthly.

3.6.1 The CBN would issue warrants denominated in dollars monthly without fail to each beneficiary of federally derived dollar revenue according to constitutional provisions with regard to sharing of such revenue.

3.6.2 The beneficiary of the dollar warrant (strictly not cash) (federal, state, local governments, statutory agencies etc) will approach their separate bankers with their dollar warrants for conversion of all or part of the dollar warrant into naira for its corporate budgetary obligations which cannot be paid in dollars (since the dollar is not legal tender in Nigeria).

3.6.3 All buying and selling of currencies will be carried out through a bank or any other such denominated financial institution.

The local bank officer on receipt of the request would seek current rate confirmation from its head office before concluding a deal."

Read more here: Dollar allocations
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Standard Deviation Channel - forex trading tax in usa

Standard Deviation Channel ~ forex trading tax in usa

I recently read article about, about standard deviation channel, (which as you may already know is one of my favorite indicators), and I was shocked, although author of this article explained what standard deviation channel is in mathematics but it had very little to do with Forex or any other financial market. Furthermore, I read other articles about standard deviation channels and what I found out is that they all were giving useless information to readers, so here is the right way to use standard deviation channel.

First of all, authors suggest that, when price will reach upper line, it is time to take SHORT position and vice versa, when price will reach lower line you should take LONG position because market is oversold.

This is true only if market is trending. It is quite safe to treat then lower line as support line and upper line as resistance line, and more over (depending on your standard deviation channel settings) 95% of price movement will happen between this two lines, as long as market is trending. The obvious question here is how to tell if Forex is trending, but this question is beyond the scope of this article, at least for now J.

What I like about standard deviation is that it allows to easily determine trend, you just need to draw channel over the selected period of time and that’s it, you have detected trend. However to use this indicator efficiently you need some experience, ideally you should see channel on the chart before you draw any lines on it. If you don’t see it, then do not worry it is all about experience.

How to use correctly Standard Deviation Channel

If market is in uptrend, you should take ONLY long positions, when price will reach lower line. Never take SHORT position in uptrend when the price will reach upper line, that do NOT mean that market is overbought, in uptrend price can easily go waaay over upper line and hit STOP LOSS, of trader who was stupid enough to take SHORT position in bull market.

Obviously, the opposite goes for market in downtrend, do not take long positions on lower line, NEVER.

Most importantly, this indicator is called standard deviation channel and you should use it only with CHANNELS not with any random piece of chart, below is the stock market chart with two correctly drawn channels.

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