we have now managed to break out across the channel which
has formed since the begining of April.
for the romantics among you I would point out that
today is D-Day and the invasion of Normandy. !
wholly appropriate dont you think !
so call up the tanks and lets move inland .
has formed since the begining of April.
for the romantics among you I would point out that
today is D-Day and the invasion of Normandy. !
wholly appropriate dont you think !
so call up the tanks and lets move inland .
looks like we may have topped for a while
I expect to see 30 again maybe today maybe monday
not that will necessarily be the start of the next rally.
we could easily go back to 100 if the dow decides to pause for a while.
and whatever you may read or hear over the weekend
- nobody knows .
I expect to see 30 again maybe today maybe monday
not that will necessarily be the start of the next rally.
we could easily go back to 100 if the dow decides to pause for a while.
and whatever you may read or hear over the weekend
- nobody knows .
Bonsai
Re SB and tax
When you get time do you think you might be able to pm me on this issue as I would like to think no income tax is involved when trading full time and would be grateful if you could explain how tax would not be liable in such circumstances.
Kevin
Re SB and tax
When you get time do you think you might be able to pm me on this issue as I would like to think no income tax is involved when trading full time and would be grateful if you could explain how tax would not be liable in such circumstances.
Kevin
kevin
Free advice about tax is one thing and I have given mine freely.
Private advice however involves significant fees and I dont think
that's what you had in mind.
If you have an sb account, I would refer you to their own literature
on the subject which I can confirm are correct statements.
"Under current Taxation rules,Spead betting is free from government
stamp duty and winnings are free of Capital Gains and Income Tax".
Hope this settles the matter for you.
You're OK.
Free advice about tax is one thing and I have given mine freely.
Private advice however involves significant fees and I dont think
that's what you had in mind.
If you have an sb account, I would refer you to their own literature
on the subject which I can confirm are correct statements.
"Under current Taxation rules,Spead betting is free from government
stamp duty and winnings are free of Capital Gains and Income Tax".
Hope this settles the matter for you.
You're OK.
Bonsai
Thank you for your post yes I do realise there is no stamp duty or capital gains tax through spreadbetting.
It is my hope to become a full time trader in a couple of years (when it will be the optimum time financially for me to move from work) At this point I will obviously need to obtain professional advice regarding income from SB as a main source of income (which at present it is not).
I currently use D4F for my intraday trend trading and futures for scalping 5 - 10 points at a time.
On a different note I was going back through the previous FTSE thread you started and noticed your resistence lines trading aid.
If you did not already know this is called the 'Fan Principle' (John Murphy's book 'Technical Analysis of the Financial Markets' ) and can be used on any timescale. I include it in my own daytrading as it proves an excellent indicator for when the trend has been broken. You then expand the line and very often when the price retraces in a new intraday rising trend; the next pivot will undoubtedly be above and close to the expanded line. In the case of a new falling intraday trend the line will be broken and the next price pivot will be seen close to and just below the expanded line. It is an excellent early indicator because as the price moves against the current intraday trend or price cycle the expanded line makes you aware of a very good reversal point. So as soon as the price starts to move as you expect and or other indicators confirm this movement you can make an early entry in line with the current price trend. Resistence to support and support to resistence. The simplest set-ups are often proved to be the best.
Kevin
Thank you for your post yes I do realise there is no stamp duty or capital gains tax through spreadbetting.
It is my hope to become a full time trader in a couple of years (when it will be the optimum time financially for me to move from work) At this point I will obviously need to obtain professional advice regarding income from SB as a main source of income (which at present it is not).
I currently use D4F for my intraday trend trading and futures for scalping 5 - 10 points at a time.
On a different note I was going back through the previous FTSE thread you started and noticed your resistence lines trading aid.
If you did not already know this is called the 'Fan Principle' (John Murphy's book 'Technical Analysis of the Financial Markets' ) and can be used on any timescale. I include it in my own daytrading as it proves an excellent indicator for when the trend has been broken. You then expand the line and very often when the price retraces in a new intraday rising trend; the next pivot will undoubtedly be above and close to the expanded line. In the case of a new falling intraday trend the line will be broken and the next price pivot will be seen close to and just below the expanded line. It is an excellent early indicator because as the price moves against the current intraday trend or price cycle the expanded line makes you aware of a very good reversal point. So as soon as the price starts to move as you expect and or other indicators confirm this movement you can make an early entry in line with the current price trend. Resistence to support and support to resistence. The simplest set-ups are often proved to be the best.
Kevin
Very wise to get proper advice when starting up.
Surprising how many people dont and then expect you to get them out of the mess when the sh*t has hit the fan.
On 'resistance lines'.
I think the fan lines you refer to are inevitably drawn from the low.
Mine arent and shouldnt be thought of as the same thing.
They are often drawn from the low before the low (if you see what I mean. There are also other features attached to them which I prefer not to disclose other than to say the gradient is the most important element.
Some lines will be drawn from the low as per standard fan line concepts and could be any gradient but I regard them as just random lines.
I may sometimes call them 'resistance' lines but that just me being sloppy.
Surprising how many people dont and then expect you to get them out of the mess when the sh*t has hit the fan.
On 'resistance lines'.
I think the fan lines you refer to are inevitably drawn from the low.
Mine arent and shouldnt be thought of as the same thing.
They are often drawn from the low before the low (if you see what I mean. There are also other features attached to them which I prefer not to disclose other than to say the gradient is the most important element.
Some lines will be drawn from the low as per standard fan line concepts and could be any gradient but I regard them as just random lines.
I may sometimes call them 'resistance' lines but that just me being sloppy.