I Stopped Using Stops

Paying for someone else's strategies? Why?

Collective 2
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hhiusa said:
An Aussie address is not a problem for foreign residents. You can form a pty ltd. Even though it must have at least one director residing in Australia, that can be remedied with a nominee director and or registered agent. I have done this for foreign markets. It works the same way in the states. I do not live in Wyoming, but have a corporation there, whereby I pay an attorney $1195/year to be my nominee director and he provides the secretary of state there his business address to provide residency and forwards all pertinent correspondences to me. Additionally, even though they require you to have a secretary, you can hold multiple positions and be your own secretary or pay a company to provide this service cost effectively.

There are several companies all over the world which specialize in these kinds of services.
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Thank you. This is an area of which I have no knowledge or experience. I have to believe there is a way to keep more of my earnings. Millionaires pay less taxes than I do. Hell, they pay less than people on Social Security. I need to figure that out. Thanks again.

I'm surprised there is not a dedicated section on this forum for handling taxation, off-shore accounts, etc. It's as much a part (and art) of trading as trading itself.
 
Wicked_Daddy said:
Thank you. This is an area of which I have no knowledge or experience. I have to believe there is a way to keep more of my earnings. Millionaires pay less taxes than I do. Hell, they pay less than people on Social Security. I need to figure that out. Thanks again.

I'm surprised there is not a dedicated section on this forum for handling taxation, off-shore accounts, etc. It's as much a part (and art) of trading as trading itself.
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It is also not that difficult to do. For some reason, people think it is more complicated. Corporations can have as much or as little function as you need them to. Most of the paperwork that comes along with is at the beginning. You file some simple paperwork annually. There is not that much more to do than you would if you were trading as an individual.

As you say there are many tax benefits to be had. The only downside that I have noticed is that you are treated by the exchanges as a "professional" instead of a "non-professional", which means your market data fees will be much more. Nasdaq level I will go from $1.50 to $23. Level II will go from $15 to $80. This happens even if you do not have any licences or you are not a professional regulated by the SEC.
 
tar said:
Another losing system who is willing to give everything back in one trade .

Open pnl -250k and counting , why ? Just to make a few hundreds or a couple of thousands ! Will get back to that one later ...
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Made my post 31/12 and just after 3 weeks the system is down massively due to hold and hope and averaging down practices ...

Before 31/12 and after 20/1 snapshots .
 

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tar said:
Made my post 31/12 and just after 3 weeks the system is down massively due to hold and hope and averaging down practices ...

Before 31/12 and after 20/1 snapshots .
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Good thing it's not real money. I feel sorry for anyone who is following that person.

My "hold and hope" real money system is up 14.8% for the same 3 week period. Incidentally, I held and hoped in 6 consecutive profitable trades thus far in the year. to be fair, hoping is not an element in my system. So I just held and closed at profitable exits.

I gotta tell ya though, this market has been difficult (more than usual) to trade. I find myself sitting on the sidelines more than I'm accustomed.
 
tar said:
Made my post 31/12 and just after 3 weeks the system is down massively due to hold and hope and averaging down practices ...

Before 31/12 and after 20/1 snapshots .
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Is this guy on zulu tar?
 
Wicked_Daddy said:
Good thing it's not real money. I feel sorry for anyone who is following that person.

My "hold and hope" real money system is up 14.8% for the same 3 week period. Incidentally, I held and hoped in 6 consecutive profitable trades thus far in the year. to be fair, hoping is not an element in my system. So I just held and closed at profitable exits.

I gotta tell ya though, this market has been difficult (more than usual) to trade. I find myself sitting on the sidelines more than I'm accustomed.
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Thats the bit that can do you WD.

I like to think of winners and losers as the same. They are both justa trade thats opened and closed. The same.

I had 3 losses today, have a look at how I took them.
 

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darktone said:
Thats the bit that can do you WD.

I like to think of winners and losers as the same. They are both justa trade thats opened and closed. The same.

I had 3 losses today, have a look at how I took them.
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That's a bummer. And each would have been profitable if held a bit longer. That's gotta be frustrating. Did you get some winners?

I don't trade the DAX. But I trade the DIA and the QQQ occasionally using a formula of price returning to it's average when it has moved away in extreme counter trend movements. I can't tell what your MA is but it looks like were taking counter trend positions on a 1 minute chart. Man, more power to you! I never go counter trend on a micro time frame, unless range has been exceeded to the extreme or the momentum has gone flat. Even then, there are easier ways to make a buck.
 
darktone said:
Thats the bit that can do you WD.

I like to think of winners and losers as the same. They are both justa trade thats opened and closed. The same.

I had 3 losses today, have a look at how I took them.
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Good , very small losses . Thats what matters one should consider a loss just another trade just like a win .
 
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