NEVER LOSE AGAIN!! TheRumpledOne

re. tax in the UK. Forex IS taxable under UK tax law, second income or not.

Primary income- you pay income tax
Secondary income- you pay capital gains tax (first £9,600 is free of tax though- so for most people beginning to trade i suppose you will fall into this category).

Wouldn't want anyone to land up with an unexpected tax bill!
 
(Before I begin, let me tell you that I am not a native english speaker, so if some of my writing is hard to understand, or seems to imply the wrong thing, it is most likely because of my bad grammar and nothing else. So here goes..)

May I interject and try to explain why this 'technique' does not seems to work to some people?

Too Much Prejudice/Negativity..
You are focusing on the teacher instead of the teaching. What are you guys so paranoid of??.. why is he being treated 'guilty until proven innocent'?? With that kind of attitude you wont be going anywhere, you wont be learning anything.......... Someone even suspects TRO is posting under a few different IDs so that he can appear to have followers! With that level of prejudice, no wonder some of you are not learning anything.

TRO is trying to teach "Never Lose Again: 101"..., the basis, the introductory class, when you were on the primary school you were taught to recognize the alphabet before you were taught how to read. You cannot possibly read unless you recognize the alphabet. This is what is going on here, some student are already far ahead in the class and is already 'reading'!.. while others are still struggling to recognize the alphabet. That is why some people 'seems' to be taught differently than others, and rightly so!. BUT! what surprised me is some of the student tried to pick a fight with the teacher instead of focusing on the lesson at hand, I can mention several names here but I wont, you should know who you are.

When you first learned math, it is most likely you were taught addition and subtraction first, multiplication and division later. But when some student were taught 4 divided by 2 equals 2, some of you chose to pick a fight and said "But earlier you said.. 1 plus 1 is 2, why now you change tune and says 4 divided by 2 is 2? you must be a moron!.. you must be a scammer!".

Your Cup Is Full
Try reading this, Zen Stories to Tell Your Neighbors, it may help most of you the seasoned/experienced traders. Beginners normally dont have problem understanding TRO because they dont have to remove anything from their cup before they can fill it with whatever TRO is teaching.

This method is so simple, and that is the problem. Some of you equates 'simple' to 'easy'. It may be simple but that does not mean you do not need to practise. Riding a bike is 'simple', what is so hard about riding a bike? Sit on top of it, cycle the pedals, but did you annouced bike sellers are scammers and swindling people money just because you fall and got bruises all over your body? Hell no!.. you tried it again, and again, and again, until it becomes 'easy' and second nature to you.

It all boils down to this, how honest you want to learn it. If you looking at finding fault, you can pick 1001 wrong things with the bike.

Jumping The Gun
Coding an EA before you are fully proficient with the method? That is like programming a robot to drive a car before you got your own driving license! Talk about ego.

How does one drive a car?, simple.. step on the accelerator to move faster, step on the brake to slow down or stop, step on the clutch to change gears, turn the steering wheel right/left according to the direction you want to go, stop on red. Simple!.. but will you be able to drive by reading that?.. no way!..

You got to feel how the candle is moving, how the candle contract or expand, there is a HUGE difference between a candle that hesitantly/slowly move over a line compared to the one that move steadily and full of momentum. You just got to FEEL it!, now unless you can code your EA to see that, there is little chance your EAs going to work.

Now before someone crying foul and says TRO never stated this, it was suppose to be simple etc, I am improvising the rules etc, please re-read my analogy on learning how to read and the analogy on math again.

Again, it all boils down to this, how honest you want to learn it. If you looking at finding fault, fault you will find (ok, I am a big fan of Yoda).


p/s: Actually, my intuition says I am wasting my time writing this, some of you are beyond help. But I will give you guys the benefit of the doubt this one time. I am not as strong as TRO, that guy could spend hours after hours of his precious time and energy helping strangers, not me!.. if I get any negative response from now on.. I will be more than likely to ignore it, why bother.
 
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I've read a lot of his posts. Infact, i feel like i've wasted a lot of time reading his posts, and after wading through lots of nonsense i still haven't been able to find anything useful.

I have said before in another post, he may have a brilliant system for all i know- but it's so hard to tell for all the cr@p.

Observing price action- exactly how? What is his criteria for entering and exiting a trade? What kind of stop loss does he use? This is what i'm looking for.

I've read a lot of posts, too, and I don't get it, either. Everyone knows something and there are a couple of points that I use as add-ons to my own trading but, in general, I don't see what he is doing. It must be my fault as he has lots of followers.

Split
 
Most people think a (good) system has the following elements:

1) STOP LOSS

2) TAKE PROFIT

3) SPECIFIC ENTRY

If the system does NOT have ALL 3, it is attacked as junk!

Forex is a derivative market.

Nowhere is there a definition of trader where traders are those people who buy and sell without losses.

Losses are an integral part of trading, and those who spend most of their thought processes trying to figure out how to trade with the fewest losses, don't "get it".

I know that some reading this will think I am over-reacting about the question of losses and loss taking, when in reality no one seems to take the concept of losing regularly as customary.

Until you learn how to lose, you cannot win, long term, as a trader.

Take your losses for God's (and yours and your family's) sake, and then forget them. Get past them, recognize that they will happen a lot and learn to handle the one thing you are in complete control of.

How much risk you take and the size of losses you take. Then the only thing you will be left with will be profits.

What a problem!!! …………………….
What is everybody's problem? Don't you know that only losers get so freaked about having losses???? Losses are just losses. Make sure they are smaller than your winners, in aggregate, and you're home free. I suppress more frustration at this stupidity than you can imagine. Your mental state of trading is KEY.
 
I've read a lot of posts, too, and I don't get it, either. Everyone knows something and there are a couple of points that I use as add-ons to my own trading but, in general, I don't see what he is doing. It must be my fault as he has lots of followers.

Split

Followers? No followers.

Just traders who want to learn to trade profitably.

There is NO ONE WAY.

Each trader learns to SEE and then finds their own way.
 
hi uktradergirl

i read your post regarding the tax ( just don't know how to put in the quote as i can't copy and paste from this site )

fx markets can be traded on spread betting firms such as ig index now my understanding of this is the goverment regard spread betting as gambling and gambling profits are tax free please correct me regarding this

maq
 
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This is looking like it is HIGHLY PROFITABLE.
 
This is one of the best posts I have ever read:

The pointless rambling shows he's in a bad place, feeling sorry for himself and doesn't know how to get out.
That is certainly nothing to aspire to though, is it.

He is not able to define a strategy, which likely means that he does not have a strategy.
Were he really successful then the results would speak for themselves.
And the method would speak for itself.

There is no need to make excuses, whine, or to try to blame others, wasting everyone's time.
 
hi uktradergirl

i read your post regarding the tax ( just don't know how to put in the quote as i can't copy and paste from this site )

fx markets can be traded on spread betting firms such as ig index now my understanding of this is the goverment regard spread betting as gambling and gambling profits are tax free please correct me regarding this

maq
Hi Maq
What you state is up to a point correct - however you never originally said 'Spreadbetting', you said you were trading Forex. Spreadbetting even on a Forex instrument is NOT trading Forex.
 
nunrrguy

can u clear this up for me i use firms cmc markets and ig to trade usd/eur they are regarded spreadbetting then let say i used ibfx would that be forex and taxable?

thanks


p.s sorry tro your thread
 
nunrrguy

can u clear this up for me i use firms cmc markets and ig to trade usd/eur they are regarded spreadbetting then let say i used ibfx would that be forex and taxable?

thanks


p.s sorry tro your thread

Yes, please start another thread for that topic.

Thanks.
 
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See the RED H1 candle?

See the RED H1 candle crossed the HORIZONTAL LINE at 1.3625?

A short at 1.3625 would have netted you 10 or more pips.

THAT'S WHAT THIS THREAD IS ABOUT!!
 
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I enhanced the TRO MPMM DIBS TRADE indicator to show you the triggers in the GET READY message so you can have your LIMIT ORDERS standing by.
 
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