Zero_Sum and Serendipper Discuss Currency Trading.

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Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:11 am

Here in this thread we're discussing currency trading both from a theoretical standpoint as well as trading in real time within the international markets. Even though this discussion primarily is between myself and Serendipper all are welcomed to this discussion. I've recently opened a practice DEMO account on Forex.com which is a lot like trading fake non-real money as a way of acclimating oneself to their trading platform which is 100% risk free. Being that I'm a newbie concerning investing or trading Serendipper is going to school me here having experience in currency trading.

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Last edited by Zero_Sum on Wed Mar 28, 2018 7:36 am, edited 1 time in total.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:17 am

So Serendipper, what's the minimal amount of money again that one has to invest on Forex?
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Serendipper » Wed Mar 28, 2018 7:18 am

Zero_Sum wrote:So Serendipper, what's the minimal amount of money again that one has to invest on Forex?

https://www.forex.com/en-us/support/faqs/popular-faqs/

The minimum initial deposit required is at least 50 of your selected base currency. However, we recommend you deposit at least 2,500 to allow you more flexibility and better risk management when trading your account.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Mr Reasonable » Wed Mar 28, 2018 7:25 am

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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:29 am

So far on my DEMO account I have done this. You're allowed on DEMO $50,000.00 of fake money to begin with.

EUR/USD bought $1000.00

USD/CAD bought $1000.00

USD/ CNH bought $1000.00

AUD/USD bought $1000.00

I am having a hard time understanding the idiosyncrasies here, why is it EUR/ USD instead of USD/ EUR?

Tried buying USD/RUB for $1000.00 but it wouldn't let me. Russian markets not open?
Last edited by Zero_Sum on Wed Mar 28, 2018 7:34 am, edited 1 time in total.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:33 am

Serendipper wrote:
Zero_Sum wrote:So Serendipper, what's the minimal amount of money again that one has to invest on Forex?

https://www.forex.com/en-us/support/faqs/popular-faqs/

The minimum initial deposit required is at least 50 of your selected base currency. However, we recommend you deposit at least 2,500 to allow you more flexibility and better risk management when trading your account.

I am probably going to do a minimal of $100.00 at a time if I do it at all.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:38 am

Mr Reasonable wrote:This might be of interest to you.

https://www.investopedia.com/stock-anal ... r0307.aspx

Thanks for that but I seem to recall hearing those kinds of online programs are pay to play, yes?
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Serendipper » Wed Mar 28, 2018 7:38 am

Zero_Sum wrote:So far on my DEMO account I have done this.

EUR/USD bought $1000.00

USD/CAD bought $1000.00

USD/ CNH bought $1000.00

AUD/USD bought $1000.00

I am having a hard time understanding the idiosyncrasies here, why is it EUR/ USD instead of USD/ EUR?


It looks like you're long and short the USD. EURUSD means you're buying the euro and selling the usd. It is "dollars per euro", but I don't know why they have that convention. Right now a euro costs $1.238 and it appears to be falling (usd getting stronger).

I am probably going to do a minimal of $100.00 at a time if I do it at all.

Then you won't be able to place the china trade.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:40 am

More questions I have, when you place an order how long are they active for? Is it indefinitely until it completely depreciate in value? Is it 24hours, week, month, or year?
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Serendipper » Wed Mar 28, 2018 7:45 am

Zero_Sum wrote:More questions I have, when you place an order how long are they active for? Is it indefinitely until it completely depreciate in value? Is it 24hours, week, month, or year?

Entry orders are indefinite on FXCM but appear to expire after a month or so on forex.com (pisses me off).

Active positions are indefinite as long as you don't get a margin call.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:45 am

Serendipper wrote:
Zero_Sum wrote:So far on my DEMO account I have done this.

EUR/USD bought $1000.00

USD/CAD bought $1000.00

USD/ CNH bought $1000.00

AUD/USD bought $1000.00

I am having a hard time understanding the idiosyncrasies here, why is it EUR/ USD instead of USD/ EUR?


It looks like you're long and short the USD. EURUSD means you're buying the euro and selling the usd. It is "dollars per euro", but I don't know why they have that convention. Right now a euro costs $1.238 and it appears to be falling (usd getting stronger).

I am probably going to do a minimal of $100.00 at a time if I do it at all.

Then you won't be able to place the china trade.


So if it was USDEUR it would be the complete opposite where I'm long and shorting the EUR?

Yeah, my entire strategy is holding long positions and selling right at the moment it goes up in value however I am still unsure how long in real time one can hold a position before a bid is closed. Why not the China trade?
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:48 am

Serendipper wrote:
Zero_Sum wrote:More questions I have, when you place an order how long are they active for? Is it indefinitely until it completely depreciate in value? Is it 24hours, week, month, or year?

Entry orders are indefinite on FXCM but appear to expire after a month or so on forex.com (pisses me off).

Active positions are indefinite as long as you don't get a margin call.


So on FOREX you have a month until your bid is over, good to know.

Explain margin call to me.

Also, why wouldn't it let me do the USD/RUB trade?
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Mr Reasonable » Wed Mar 28, 2018 7:57 am

Zero_Sum wrote:
Mr Reasonable wrote:This might be of interest to you.

https://www.investopedia.com/stock-anal ... r0307.aspx

Thanks for that but I seem to recall hearing those kinds of online programs are pay to play, yes?


https://research.tdameritrade.com/grid/ ... onfree.asp


DYB is on there. And you can trade it for free along with 100s of others.
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Dating a stripper is like eating a noisy bag of chips in church. Everyone looks at you in disgust, but deep down they want some too.

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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:58 am

Serendipper says:

You need a lot of money to hold your position. You need dry powder. The #1 thing is risk management! Warren Buffett said when the tide goes out you see who is swimming naked.

Like right now if you, say, thought the stock market were going higher, you'd take a small position in hopes of that, but what if it goes down instead? What do you do? Sell at the bottom where it starts to go back up? Or buy more and have the downtrend continue lower? Sometimes it seems that whatever you do, the market will do the opposite. It can make you think someone is watching you lol... and they are... those computers - algos - know what positions you have and probably how far it would need to move to break you. There's a LOT of money in forex and I guarantee there is shenanigans. As Oliver Velez puts it, "It's the most competitive sport on the planet with the most money at stake, so don't think you're going to waltz in and take food from their plates."

Anyway, you need a plan of action. The big guys take the opposite side of your trade, they buy all the way down and sell it back on the way up because they have unlimited funds at their disposal. You don't have that luxury.


So you're basically saying $200.00 on the Forex wouldn't last a day? :-k Just out of curiosity how many times do you check your Forex accounts daily? When the stock market closes for the day so does your FOREX account stop until it reopens or is there buying and selling after hours?
Last edited by Zero_Sum on Wed Mar 28, 2018 8:00 am, edited 1 time in total.
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 7:59 am

Mr Reasonable wrote:
Zero_Sum wrote:
Mr Reasonable wrote:This might be of interest to you.

https://www.investopedia.com/stock-anal ... r0307.aspx

Thanks for that but I seem to recall hearing those kinds of online programs are pay to play, yes?


https://research.tdameritrade.com/grid/ ... onfree.asp


DYB is on there. And you can trade it for free along with 100s of others.


Thanks, I will have to check that out.
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Mr Reasonable » Wed Mar 28, 2018 8:10 am

At the end of the day, you should take this time to study how these kinds of things work, and write down the picks you'd make if you had the cash, and the date, and the price on that date and keep track of yourself.

Get an app for your phone called "seeking alpha" and follow ticker symbols that interest you. Private prisons? Evil oil companies? Frackers? Walmart? Read the news about them every day and like anything else, it'll all make a lot more sense. In the meantime, throw 50 or 100 bucks into that ameritrade account, or buy and hold shares on computershare without paying any fees, and then once you got enough cash to get in the game you can start flipping some shit.

It's like this. If I got 100 bucks and you got 1000, and we both buy the same stock on the same day and it goes up 10 percent...I'd pay 14 bucks for the buy then the sell, and 1.50 in capital gains tax. So I'd have 110-15.50 which would leave 94.50. So even though it went up 10 percent I'd be at a loss because of the fees and my small initial investment. My gains wouldn't cover the fees. But, if you had 1000, then you'd have 1100-14 in fees - 15 bucks in capital gains tax which would leave you with 71 bucks in actual profit after fees and taxes.

So it's super important to get up some cash so you can utilize the information in your head to make money. So go to computershare and start drafting monthly for shares of some old school dividend stocks, or if you're more risk averse, then just open the ameritrade account, add cash services and checking, and since the checking there is money market checking you'll get paid interest that's more than you would on a basic savings account, and since it's attached to your individual brokerage account you'll be able to make instant trades and transfers and all that from an app on your phone.

Are there TD Bank branches where you live? If not, then you'll need a local bank to deposit in and then transfer into the new account.
You see...a pimp's love is very different from that of a square.
Dating a stripper is like eating a noisy bag of chips in church. Everyone looks at you in disgust, but deep down they want some too.

What exactly is logic? -Magnus Anderson

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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Serendipper » Wed Mar 28, 2018 8:11 am

Zero_Sum wrote:So you're basically saying $200.00 on the Forex wouldn't last a day? :-k

No I'm not saying that. You could expect, idk, $10 change per day. So if you had $200 deposited, you'd either have $190 or $210 in equity. More or less. The next day might be back at $200 or down to $180. Everyday it's probably going to bob around $5-$10.

The biggest mover is the 1st friday of every month when NFP nonfarm payrolls are announced. You could double your money or get a margin call in an instant.

Just out of curiosity how many times do you check your Forex accounts daily?

All the time. I occupy my time on here.

When the stock market closes for the day so does your FOREX account stop until it reopens or is there buying and selling after hours?

It's 24hrs and closes friday at 5pm NY time and opens 5pm on sunday. I hate that it's closed saturday.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 8:14 am

Can somebody give me then run down on what has to be reported on taxes yearly in all of this? I thought I heard currency trading is reported differently than stocks, bonds, and the like when it concerns filing taxes.
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 8:16 am

Mr Reasonable wrote:At the end of the day, you should take this time to study how these kinds of things work, and write down the picks you'd make if you had the cash, and the date, and the price on that date and keep track of yourself.

Get an app for your phone called "seeking alpha" and follow ticker symbols that interest you. Private prisons? Evil oil companies? Frackers? Walmart? Read the news about them every day and like anything else, it'll all make a lot more sense. In the meantime, throw 50 or 100 bucks into that ameritrade account, or buy and hold shares on computershare without paying any fees, and then once you got enough cash to get in the game you can start flipping some shit.

It's like this. If I got 100 bucks and you got 1000, and we both buy the same stock on the same day and it goes up 10 percent...I'd pay 14 bucks for the buy then the sell, and 1.50 in capital gains tax. So I'd have 110-15.50 which would leave 94.50. So even though it went up 10 percent I'd be at a loss because of the fees and my small initial investment. My gains wouldn't cover the fees. But, if you had 1000, then you'd have 1100-14 in fees - 15 bucks in capital gains tax which would leave you with 71 bucks in actual profit after fees and taxes.

So it's super important to get up some cash so you can utilize the information in your head to make money. So go to computershare and start drafting monthly for shares of some old school dividend stocks, or if you're more risk averse, then just open the ameritrade account, add cash services and checking, and since the checking there is money market checking you'll get paid interest that's more than you would on a basic savings account, and since it's attached to your individual brokerage account you'll be able to make instant trades and transfers and all that from an app on your phone.

Are there TD Bank branches where you live? If not, then you'll need a local bank to deposit in and then transfer into the new account.


Yeah, I am nowhere near having $1000.00 in real money to spend. :lol:

I have a little bit of chump change and some pocket lint, that's about it. :lol: I bank through Wells Fargo.
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 8:21 am

Serendipper wrote:
Zero_Sum wrote:So you're basically saying $200.00 on the Forex wouldn't last a day? :-k

No I'm not saying that. You could expect, idk, $10 change per day. So if you had $200 deposited, you'd either have $190 or $210 in equity. More or less. The next day might be back at $200 or down to $180. Everyday it's probably going to bob around $5-$10.

The biggest mover is the 1st friday of every month when NFP nonfarm payrolls are announced. You could double your money or get a margin call in an instant.

Just out of curiosity how many times do you check your Forex accounts daily?

All the time. I occupy my time on here.

When the stock market closes for the day so does your FOREX account stop until it reopens or is there buying and selling after hours?

It's 24hrs and closes friday at 5pm NY time and opens 5pm on sunday. I hate that it's closed saturday.

Alright so the poor gadfly like me with my meager $200.00 can still get some action on the For ex. What's the largest spike increase you've seen in currency trading? Ever see $200.00 become $300.00 instantly?

Explain margin call to me, is that when a heavy drop in the market wipes out my $200.00 in one single full swoop?

What did you mean earlier that I wouldn't have enough money for the China trade?
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Mr Reasonable » Wed Mar 28, 2018 8:30 am

Zero_Sum wrote:Can somebody give me then run down on what has to be reported on taxes yearly in all of this? I thought I heard currency trading is reported differently than stocks, bonds, and the like when it concerns filing taxes.


You'll get a 1099 and you might as well just take that shit to whoever does your taxes.
You see...a pimp's love is very different from that of a square.
Dating a stripper is like eating a noisy bag of chips in church. Everyone looks at you in disgust, but deep down they want some too.

What exactly is logic? -Magnus Anderson

Support the innocence project on AmazonSmile instead of Turd's African savior biker dude.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Mr Reasonable » Wed Mar 28, 2018 8:31 am

So start putting a little at a time into ameritrade and don't take it out. Won't take as long as you think it might to get up enough cash to be able to play the game a little.
You see...a pimp's love is very different from that of a square.
Dating a stripper is like eating a noisy bag of chips in church. Everyone looks at you in disgust, but deep down they want some too.

What exactly is logic? -Magnus Anderson

Support the innocence project on AmazonSmile instead of Turd's African savior biker dude.
http://www.innocenceproject.org/
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Serendipper » Wed Mar 28, 2018 8:33 am

Zero_Sum wrote:Can somebody give me then run down on what has to be reported on taxes yearly in all of this? I thought I heard currency trading is reported differently than stocks, bonds, and the like when it concerns filing taxes.

It's capital gains just like stocks. Schedule D. I figure the interest into the capital gain just to make it easy. Stocks would separate the gain from the dividend and you would only realize a gain (or loss) when you sell, but you'd have to pay tax on the dividends you received.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 8:34 am

Mr Reasonable wrote:
Zero_Sum wrote:Can somebody give me then run down on what has to be reported on taxes yearly in all of this? I thought I heard currency trading is reported differently than stocks, bonds, and the like when it concerns filing taxes.


You'll get a 1099 and you might as well just take that shit to whoever does your taxes.


How bad do they fuck you on taxes profiting on trading or investments? I've already got my ass reamed by taxes this year where I am trying to avoid that next year if possible. (If there is even a next year at all with the world being what it is now.) :lol:
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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Re: Zero_Sum and Serendipper Discuss Currency Trading.

Postby Zero_Sum » Wed Mar 28, 2018 8:35 am

Serendipper wrote:
Zero_Sum wrote:Can somebody give me then run down on what has to be reported on taxes yearly in all of this? I thought I heard currency trading is reported differently than stocks, bonds, and the like when it concerns filing taxes.

It's capital gains just like stocks. Schedule D. I figure the interest into the capital gain just to make it easy. Stocks would separate the gain from the dividend and you would only realize a gain (or loss) when you sell, but you'd have to pay tax on the dividends you received.

Are the taxes pretty steep on capital gains?
The temple mount will be rebuilt in Jerusalem and all the nations of the world will be ruled from there. All races, cultures, leaders, and nations will come to bow before the new messiah yet to come. All will come to know the chosen of God who refer themselves as Jews. For every Jew there will be a thousand goyim that will be their slaves as it was ordained by God. Every man, woman, and child will convert to Zionism.
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