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No Brainer Trading Forex
How much of my portfolio should I move to Wealthsimple?
Hello PFC, I primarily bank and trade with BMO, although I also have an account with HSBC. I was quite a passive investor, but now I want to trade more actively, and Wealthsimple with their zero commission trades and no maintenance fees seem like a no brainer. I would like some advice on which parts of my portfolio I should transfer to Wealthsimple, so that I can save the most on fees and avoid Wealthsimple's Forex fees. I have a premium plan with BMO and have: -USD accounts (used for transferring USD to Investorline for USD trades) -RRSP (Holding BMO ETFs and Mutual Funds, around 10K total) -TFSA (Holding BMO ETFS, Mutual Funds and Savings, around 15K total ) -Investorline TFSA ( Canadian stocks, around 20K) -Investorline non-registered (US Stocks, around 10K) Thank for your help! (edited to add dollar estimates )
Need Help - Do Businesses who generate Forex income have to pay GST/HST to the CRA (Canada)
Hey guys, I'm a total noobie here and can't seem to find the answer to this question anywhere. In Canada, if you incorporate yourself and run your trades through your business and earn business income, do you also have to pay GST/HST to the CRA as another business would? I am asking this question because for my current job, I am incorporated (different field) and charge GST/HST, which then goes to the CRA. However, seeing as this is Forex, would it be the same? It's not like you can collect GST/HST from the market....lol Essentially I'm trying to see what is the best option to save my profits going forward. This scenario is based on generating 500K/year in profit via trading:
Claim Capital Gains - 50% of the profit will be taxed at your marginal rate (Until how long though? At what point will the CRA consider it business income instead?)
Sole Proprietor - Income is taxed at the personal income tax rate and you can also claim expenses, in addition you do not pay GST/HST
Incorporated Business - Income is taxed at the corporate tax rate, you can claim expenses and pay yourself dividends (even lower tax rate), BUT - Do you have to pay GST/HST as well?
Sorry for the stupid question, the answer is probably no, but I want to be sure. If I don't have to pay GST/HST then I think registering as a business is a no-brainer. In fact, you can save more money than purely capital gains up to a certain point. Not to mention all the tax-hacks you can have like using the business' money to buy yourself a home completely tax-free in Canada, if you know how to do it. Essentially I'm seeing the best way to pay myself 100K/year while saving the other 400K, to then take it out tax-free on a future home. But yeah, do businesses have to pay GST/HST? Thanks everyone.
I just feel like I finally need to share my story (only person who knows so far is my sister, I absolutely needed to tell someone). So I've never understood the appeal of gambling. I never played slots, never ran poker for money or anything. My first sports bet was a Floyd Mayweather fight. Knowing what I know about boxing, getting a 20% return on my investment for May fighting McGregor was an absolute no-brainer. What I didn't know, though, is that I signed up for an extra promo and the cash out would not work. So this quickly spiraled into parlays and obscure tennis and football matches all over the world to be able to cash out what I put in. I lost 200 bucks, but the insight into people analyzing these things all day was somewhat fun. Shit result, but nothing that really hurt retrospectively. Wrote that off and never ever looked back at sports betting. Enter summer 2019. I get interested in the stock market. I read a lot, I actually do research on financial statements and decide to invest in actual stocks. It works. Commissions take the fun out, make gains miniscule, but it works. Enter finding out about Forex and CFDs. Leveraged. Again I start slowly, news tickers, books, lots of observation. Technical analysis is like old people horoscopes, but if I see movements that overshoot, I find out what causes them and decide if reversing them might make sense. I start with 200€ again. And it works. Beginners luck and the fact the stakes weren't high, but after a couple of weeks im up by 500€. 150% gain, Over 50 positive trades in succession. Not a single loss. The perfectionism will become my downfall as you might imagine. October '19. The FED is injecting repos into a market that keeps having these mini-recessions. The liquidity brings the spikes they hoped for, but the underlying problems won't just dissapear. So slowly, I am shorting the market. It keeps running up - I become aware that these trades will be longer term. I can hold the positions for a year. I know it will blow, I just wasn't sure when. On the ride up, I keep shorting. I'm slow to realize how the margin shrinks. I need to deposit more money. I can spare another 500. And another 250. And another 500. They say the market can be irrational longer than you can be solvent. November I lose my job. By January the P/L hits -4500€. I'm confident that this can't hold but I am running out of money. I'm ashamed to ask for financial help and I would never risk losing anyone else's money. So the credit card has to to. My card, my debt. WWIII almost kicks off the year and it finally dips. A single night later I witness the strength of the irrationality. My mental time frame is now to hold until middle of march. But the margin kills me, I am running out of money. I can't hold my positions. So one after another I start closing, panicking, how will I make this back?? This is it: I'll raise the stakes and just make this back. After all, these were my very first losing trades, even though they were huge. This is where I start to realize I am now gambling. I'm blindly taking positions to make money as fast as possible. Instead of making it back, I keep losing more. 3000 gone. another 1500. 1500 in a day. 700. 1150. Today I'm down 8000€. On a historic day. The one I was actually anticipating since October. The "coulda woulda shouldas" are incredible in this one. Not only would I still have 8000€, but I would've raked some extreme profits if I was able to hold. Instead, being unemployed gave me all the time in the world to watch charts and treat this liek a game I could gamble on. Unneccessary trade over unnecessary trade, ever shorter time frames, chasing every loss. The chasing and the frequency made me realize I have an addiction. The fact I deleted the app and still kept checking charts, just to hop back in and lose again. I started listening to the after gambling podcast and all the themes were so familiar, even when I wasn't betting, playing slots or cards or roulette. The mechanisms that ruined me were exactly the same. I just sold myself this dream instead of having someone else advertise it to me. This is by far the lowest point of my life so far and I can't tell wether that's a good or a bad thing. Debt is now about 1.5k + 6k student loans. Just the thought that I could be debt free today kills me. The thoughts of the vacations, the furniture and all the little gifts and trinkets the money could've been for me and the most loving girlfriend I have. It's gut wrenching. But more than anything else: The sleep, the health, the peace of mind that I have lost - the time - all the things I could have spent my time on. Educating myself, sports. Life was fuckin great until October, I ran my first half marathon; today I feel like a shell of my actual self. I am sorry for this massive wall of text, but I really needed to let go of this. Today is day 1 and we will count to infinity. Have a great day and keep those spirits high. <3
hi everyone. long story short I want to invest, the problem is that I live in Iraq so brokers do not operate in Iraq. even international brokers don't operate here. (lots of brokers operate in middle east like TD Ameritrade and other reputable brokers but not Iraq) so I wanna invest but I don't know how I am thinking about finding a local broker or a middle eastern broker, that accept me but the main issue is credibility, I found 2 brokers (XM, ETORO) and I did some research about them, the problem is am finding a lot of negative comments about them and a lot of people accusing them of scams and cant withdraw their money etc. and XM also happens to be regulated by (ASIC, CYSEC, IFSC) but lots of people claiming they got scammed by XM. at this point am lost I have no idea how to find a credible broker. people told me I should trade crypto or forex as it's not a country-specific or something like that and i have no problem with that, but i also don't know how to find the right broker. when I started I just went to the big guys (TD Ameritrade, Charles Schwab, interactive brokers) as its no brainer to trust and trade with them, I mean come on its TD Ameritrade. but now I don't know how to search for legit brokers that operate in Iraq. can you please help me?
So I’m a former crypto investor that hasn’t touched the crypto markets in about half a year ever since the Bear run. It’s been a good past 6 months let’s just say that. But now BTC is looking good if it goes above $6800, but that’s off topic. Now, I’m just paper trading forex and over the last few months, I’ve realized that I have had a very high win rate. Now I know that paper trading is nothing like real trading because I know the feeling of losing your own hard earned money. it’s totally different than losing fake digits. But how does one know when they’re ready to enter the Forex market? I’m making level headed trades, being very conservative (except for buying market orders lol ) and I’ve only entered trades that look like no brainers. But there is still something in the back of my head telling me I’m not ready yet. But my results say otherwise. What do you guys think? Should I wait a couple more months and keep paper trading? Or is someone in this situation better off just experimenting with small, real money?
When the overhead supply is depleted, prices can move up on much less activity. Why? Because, if you remember how prices move, price does not need to trade at every price level. The pros have built up a position during the process of accumulation. They buy when the media coverage is terrible. They start buying from the masses when the masses panic and build a position during the testing process, just like a game of space invaders. Simply put, they hold the inventory. So, if they don’t flood the order book with sell orders, it will take fewer buyers to move prices up. This is when prices break out of a base. This is when the media and the public start getting involved. This is when prices start to trend. And this is what Gekko meant when he said, “Bulls make money, Pigs? They get slaughtered.” Bulls make money by using their knowledge of human behaviour. They start buying and testing the market as the masses panic. Once their position is built and the overhead supply is removed, they stop driving prices lower at air pockets, and this is when prices start trending up. And as prices move up, the pros who have been bullish when the masses have been bearish sell into the trend, and take profits. How do the Pigs get slaughtered? The Pigs are the greedy and uninformed public. They generally only start buying when prices have already moved up (a lot), and they think it’s safe to enter the market because of the positive media coverage. They buy what they think is an easy money “no-brainer.” It's not. This process happens in stocks, forex, and bonds— any market with a reasonable amount of liquidity. And the best news of all is this process works in the cryptocurrency market too. https://www.altcoinsidekick.com/blog/the-hidden-hand
Hi Everyone, Brand new to reddit here (not sure how I escaped this deep deep black hole of internet for so long). I hope this is the right place. First, I am here to distil what I have learned over the years of being a fool of the market. I’ll then try to piece together the checks and balances I have decided necessary to maintain long term success in investment management and trading. I will break it into two distinct product lines: Cash Equities and CFDs (index/forex) via FXCM/IG etc, as well as a General Risk Management section. I have read extensively, like the usual Jack DSchwagger series, Stock Operator etc. If you haven’t read these I suggest you start there first. General Risk Management and Setup: Positioning/Size I cannot tell you how often I have been burned with poor position management across either cash equities or CFDs. I distinctly recall putting on a massive “no brainer” trade against the EUUSD in 2014 December. Entry 1.224. I got stopped out and lost 50% of my trading capital in 4 hours due to a margin call. I wasn’t even trying to scalp, I just wanted to get very, very rich. (I would’ve too if it weren’t for those meddling kids). The other side of this is that I express my cash equities portfolios in the form of “high conviction” trades/investments. Take A2M.AX. Average Entry of 6.XX through averaging up. It currently sits at more than 70% of my portfolio, even though I have a 12month timeframe. I have a higher conviction on Cash Equities with a far longer time frame than I do CFDs. Hence I position heavier. There is a 2% rule floating out there that I semi-agree with. I’d like to hear your thoughts on this, as I would describe myself as much more of a risk taker and less systematic than I would like. I understand also there are more schools of thought, mechanical, pure TA etc etc. But no matter what fire you choose to play with, I think positioning has been the reason why I have lost money over 90% of the time, even if directionally I am 75% right within my time frame. How do you guys balance your portfolio for maximum returns? Thoughts on 3-4 stock portfolios? Thoughts on CFD margin/position sizing for TA/discretionary? ( I know it will vary by style but would love to hear). Trading Diary When I first waded into CFDs, I knew I wanted to keep a record of all my trades, in the hopes that I can reflect on what technical/fundamental ideas I opened and closed my trades in. A trading diary and reflection on those trades is huge in order for you to stop repeating really stupid mistakes. Until recently I never had the mindset of actually sorting through the wins and losses of my past trades. YOU MUST HAVE A SYSTEM of going through the past days/weeks worth of trades. Reflection and reinforcement is key. I think starting a blog for yourself is not a bad idea. It may not have readership, but it carries the important function of reflection and learning. Just as I am doing this very moment.. Research/Information Funnel The Economist. Period. *infinity. Start here. (Especially relevant for macro) When I first started in Cash Equities I made the novice error of joining forums. Granted there is some great content that someone else more experienced has found and analysed, thus cutting down your research time. Right? Wrong. I think it actually causes a shift in your behaviour to trust and rely on their primary opinion. If they’re right even once, you will now face a bias and think of them as a beacon of truth. Read Thinking Fast, Thinking Slow. As humans we’re inherently very lazy. Don’t let it make you take shortcuts. I put this in general risk because information and bias is a HUGE risk to how you formulate your trading or investment thesis. Even I noticed that the majority of my information sources including twitter liked to preach the “melt up” of the spooz etc. Confirmation Bias exists, especially in Investing. These guys had been talking of a market that was too strong for at least 2 years. Even though it finally semi-happened, they were still wrong for two years! Do you believe it would be valuable to find a peer group IRL as an additional source of information/debate? Timeframe This closely relates to position/sizing. Timeframe goes hand in hand with positioning and how we wish to express risk. A low beta Banking stock with healthy dividends might warrant a larger position size if you look at it from a 10 year view point. The spooz on a 20 year view point would warrant a very different mindset when compared to a tick chart. I have found it more helpful when thinking about timeframe as not “predicting” when I think something would happen, but use it as a matter of determining sizing.Am I really comfortable TSLA as 50% of my portfolio for 20 years? Hmm Health Something I feel understated and forgotten about is the fact that sitting down for 10 hours a day with your eyes following green and red isn’t healthy. A healthy body will produce far better results if your headspace is clear and your emotions are in check. I would put more than a fair share of my mistakes as being due to emotionally driven trades (lose x find 2x) or trading when my physical mind is no longer sharp. Trading and Investing is a full time endeavour. Unless you are extremely fortunate or lucky in how you express your trades and investments, it will take a lot of time and involvement to find an edge that is more than just market. *I mean, isn’t that why we are here? * [Edit] How do you guys ensure you’re balancing work or study and investment? I find myself mostly 100% work ever since graduating uni. This turned out far longer than I expected. I would love to hear all feedback. Put me in my place! This is especially because I am about to commit more time to this as I bring it into a truly serious endeavour. [Edit] Removed personal info
Technical & fundamental news on currencies.I would advise newer traders not to trade solely on external opinions because that won't cement your own methodology or reasons for trading.Excellent website for if you want an overview of the markets and daily reports. Also includes a trading journal and a lot of media attention.
This is absolutely amazing! I can't put a value on this! It's one of the best gems of the internet. Podcasts interviewing successful traders, some are notable such as 50pips, Walter Peters & Chris Kapre.
One of the best free online schools which tracks your progress and teaches you heaps on information. The forum is the gem, where many people keep trade journals and put up their strategies. Don't copy them but borrowing concepts and ideas is good.
SUPER IMPORTANT This website is paramount to your success, still in development but will provide users with an easy way to document trades. Success is determined by your willingness to follow through with the boring bits so keep this one in your bookmarks.
The common trait he sees in successful traders, how long it took him to become profitable, the most important trade that made him successful, his favourite books and why they both like Jessica Peletier.
A warehouse worker went through his trials and tribulations to be given the offer of managing an $80 million fund. How he started with $800 and no clue what to do, 2 biggest mistakes he sees traders making, how he continues to improve and what has happened to his lifestyle since becoming a full-time trader.
How Timothy Sykes inspired her, what minimalism is all about and how it's spread to every facet of her life, what her single pair to trade is, what the 2 best traits for successful traders are and plenty more!
What plastic bottles have to do with trading, how much money you need to have to be properly funded and go full-time, how much work you have to do and how long it'll take to get there, 2 best traits to have and loads loads more!
Can you actually trade from a beach? The use of hypnosis to make him a better trader, the method that works with his psychology, how much you need to get started, how long it took him to become profitable and what he would do differently if he had to start over! plus loads more!
Personal Favorite I love this guy because he's true and noble. He is philanthropic, offers trading courses that are cheap and really knows what he's talking about. He explains how a 3 second glance can stop you 2nd guessing yourself, how much he made with $3000 in 6 months and plenty more!
How he's turned some traders around in 30 minutes, why you never trade on a monday, the courses he bought, why he teaches outside the classroom and why he sent his kids to learn chinese.
Edit - I've spent about 2 hours making this now. I hope you guys find it useful! I'll continue to update it and may you all find trading success. If you want to help me out spread the link! put it on forums or share it with friends. Good luck to you all and happy trading! Edit 2 - My brain is fryed... time for a rest. Edit 3 Once I've categorized this post making it easier to navigate i'll be adding books to read, videos to watch & the traders that will help on your journey to self-sufficiency. Happy trading everybody!
If the LUXOR trading system (slow/fast MA crossing rule) is so profitable on FOREX (in a very general sense), why isn't everyone adopting it?
The LUXOR trading system, as presented in Trading Systems by Tomasini and Jaekle, is a very simple MA crossover trading rule optimized under a trading time frame and SL rule that produced extravagant trading statistics (Sharpe,Max DD, Ulcer, Kelly) over 6 years 2002-2008 on GBPUSD, seemed to be quite robust (invariant to time scaling and translation, with very few degrees of freedom), and very general (could work on any FOREX pair, even in bond and futures markets). So then why doesn't everyone adopt this simple MA crossover rule? Granted, I have not tested or implemented this trading rule myself, but perhaps the same results do not hold during 2008-2014 period? Has anyone tested it in any framework on the latter 6 years for any currency pair? If the same robust and profitable trading performance was achieved during the last 6 years as in 2002-2008, it seems it would be a no-brainer to adopt. The equity curves were basically monotonically increasing. Am I missing something?
I figured why wait for your response here is what I sent one guy during the week. profit.ly - join and follow some individuals that have 50%+ win trade percentage. free to join to brows around the forums. http://forexwinners.ru/forex/category/tools/full-courses/ mostly forex stuff but you can find a lot of tim sykes dvds here. just download from the links provided. finviz.com for scans if i didnt mention that. dojispace.com i got a quick education on dojis from that place. learn about bollinger bands they are helpful for intraday trading. tradesystempro.com - tons of books. learn about doji's bollinger bands. http://torrentz.eu/search?q=fous cameron fous very educational. not my style but i believe there is always something to learn from someone. my style is more breakouts and then watch them thru the day (if my job wasnt 5 days a week i would) and then trade intraday for more profits like warrior trading. i would love to pay for his dvd package but youtube will have to do. http://stockcharts.com/school/doku.php?id=chart_school this place is loads of info. it's like a college class online. everything you need is here or at least all the basics and you can later dive into things you want to know for your style. one thing i learned from tim sykes and time grattani and nate machaud, is who cares what the company does. trade the ticker not the company. this holds 100% true if you are to be a day trader. you are chasing profits and not investing millions to make more millions long term. thats my opinion anyway. zacks.com if you want to trade based on earnings but that doesn't always mean a good report will lead to an uptick in the chart. this also has tims dvd's http://www.bengforum.com/Thread-GET-Timothy-Sykes-Trading-Strategy-Full-Course-8-DVDs havent tried to download from it so i don't know if it will get you all of them or how long it would take. http://www.torrenthound.com/hash/b39fa669ddcf670758695600259d91be78a2af85/torrent-info/Investors-Live%253A-Textbook-Trading-DVD-by-Nathan-Michaud the thing about nates dvd is he has a lot of good info but some of it is silence and watching his trade from some day at 10x the speed. http://torrentz.eu/4f71b50dc827111e7d6338901279d1df9ce20670 this is the second dvd in nates series interactivebrokers.com is 99 cents a trade. http://www.elitetrader.com/et/index.php?threads/trading-tickers-dvd-by-tim-grittani-99-huge-discount.296300/ this is tim grittani's dvd someone is selling on profit.ly it is for the streaming version. if you get it let me know, i might want to get it too if it is worth it. just stumbled on this. it may be helpful and money saving. http://www.tradingdvdshop.com/ i found a similar place that was selling dvd's cheap but it must be on the history on my desktop. if i get a chance i can get that to you. probably thursday or friday night. but this should be plenty. don't get overwhelmed. it should be like going to school. watch a dvd or so for an hour. take a break. take notes.and finish one before you start the next. i would suggest also learn more about each tool the dvd's tell you about like bollinger bands after you finish the dvd or what ever interests you. i personally use bollinger bands. exponential moving average (ema) for 13 day period like cameron fous. and then i stumbled on a volume weighted MACD. anything helps but too much clutters your screen. when you learn more then move to learning how to create custom scans to meet criteria you like. that stockcharts chart school is a lot of reading but it is organized. those are basically the resources ive used so far. like i said im new too. but im determined to make this part of my income. especially living in cali and i can be up and trade before work when stocks move the most. it's a no brainer. if i wake up that is. that's been a struggle someday. keep in touch tell me how things are going. maybe you could teach me somethings too. post your daily watchlist in the pennystocks forum and learn from everyone else too. it's a good forum so far. I also have a book from warrior trading as a pdf. I can email that to you if you like This I basically copied and pasted what I have sent to a few newbies like myself. To me it is a good starting point for your own style.
Hello everybody. I am quite concerned about the fact that everything in this game has at least some story background and is a logical part of the game lore wise. All except trading. So my suggestion is to make cadiro a central part of the trading system. For example we could spawn cadiro to do cross instance trading. Something like hitting a button or using a scroll to spawn cadiro then we'll ask him with to bring the $$ to the seller and give us the item we bought. All through his awesome golden portal. There's also something else that I wanted to talk to you guys about. I think this game has an awesome trading system with several different currencies and for me it is a no brainer to implement something like a forex market for excanging currencies. TlD: cadiro should be responsible for trading in the game.
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