Friday, December 30, 2011

Forex taxes

I'm doing research into how to properly file currency trades under the U.S. tax code. So far I have found that my transactions through Oanda are not contracts and therefore would not be under section 1256. However, I keep getting pointed to section 988 but am having a hard time understanding it all. If any of you have had experience in this I would greatly appreciate if you could please give me the research material that helped you best in the comments.

Treasury to charge fees, and Dollar is still king

US treasury to start charging fees
Dollar still reserve currency

Trades for 12-30-11

I did really crappy today. I'm just mentally slow right now and I don't know why.

Forex: 3 trades, all losses for a total of -14.51 pips

US rail freight, China's economy, Spain set to make cuts, and Hungary at risk

US rail freight up
UK home price index
China's economy faltering
Spain set to make cuts
Hungary at risk

Wednesday, December 28, 2011

Oil prices, and a rumor from twitter

Click here for info on oil prices

There is "breaking news" that the Fed seeks to curb repo market risk. However before I believe it I'm waiting on a more official/reliable source than twitter, and I hope you do the same.

Japan woes, and funds leaving the BRICs

Japanese wages fall
Nov Japanese retail sales fall
More Japan woes
Funds withdraw from BRIC nations

Trades for 12-28-11

I surprisingly did pretty good today. It was a little tricky since I started my day after the downward move we had this morning.

Forex: 6 trades, 3 losses, 1 flat, and 2 gains for a total of +15.51 pips

Saturday, December 24, 2011

A good financial documentary

I thought this was a pretty good financial documentary so I decided to share it with you.

Thursday, December 22, 2011

Lots of US economic data

US consumer sentiment up
US home prices
Leading economic index for the US
US GDP revision
US jobless claims drop

I could kick myself

I can't believe it took me this long to remember how to trade range markets. Now all I have to do is remember how to trade trending markets the next time they come and I'm all set.

The following trades were me experimenting with 1M charts. I did not record the pip results, but as you can see I did very well. After searching "how to trade choppy markets" and reading a few links I realized that a lot of what I was calling "choppy" wasn't really choppy. It was actually "ranging" so I was able to adjust and the results of that adjustment are what you see below.

Greese resistant to more losses, and Chinese banks forecast looser monetary policy

Greece resistant to more losses
Chinese banks forecast looser monetary policy

Canada retail sales, Italy's emergency budget, UK economy, and a lesson from Argentina

Canadian retail sales up
Itilain emergency budget plan set for approval
UK balance of payments 3Q11
UK economy rises faster than expected
A history lesson on Argentina

Good refresher

This is a good read for anyone who needs a good refresher, or anyone who is new to the forex game:

Trades for 12-22-11

Not even 20 minutes and I'm already stopped out today. Oh well, I'm going to paper-trade to get some practice in and do some experimenting.

Forex: 2 trades, both losses for a total of -13.4 pips

Wednesday, December 21, 2011

Trades for 12-21-11

I didn't do so good today. Also had a phone conversation with my dad which exposed how distracted from trading I've been lately. I'm glad we caught it relatively soon. Time to get refocused!

Forex: 8 trades, 6 losses, and 2 gains for a total of -14.5 pips

Tuesday, December 20, 2011

Trades for 12-20-11

I decided too call it an early day because of the choppiness and the delay I was getting in my order placement.

Forex: 2 trades, both losses for a total of -9.4 pips

Monday, December 19, 2011

Trades for 12-19-11

I got "chopped out" today.

Forex: 3 trades, all losses for a total of -15.3 pips

Wednesday, December 14, 2011

Trades for 12-14-11

After taking yesterday off I did pretty well today. I think distracting myself with java programming helped me a lot by keeping me from trading the choppy stuff.

Forex: 4 trades, 1 loss, and 3 gains for a total of +12.6 pips

Friday, December 9, 2011

US trade deficit and consumer sentiment, Euorpe closer to fiscal union, UK not liking the new union, and UK mortgage rates

U.S. Trade deficit shrinks
Europe one step close to fiscal union
U.S. Consumer sentiment up
The UK isn't liking the new EU fiscal union
UK mortgage rates rising

Trades for 12-9-11

I traded much better today, too bad it was paper-trading. I've decided to paper-trade the rest of this month due to expected choppiness and volatility. I'm also going to pick up at least a part time job because I need to get some income flowing while this trading thing works out.

Forex: 6 trades, 3 losses, and 3 gains for a total of +7.6 pips