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klvn168
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« Reply #45 on: March 12, 2007, 02:41:21 PM » |
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grey area....how to consider as professional or local member? Example is if trading future is the mainstream income then it can be classify as 'income' and not 'capital gain', so it is subject to 'income tax'.
comment?
cheers
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Maxforce
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« Reply #46 on: March 12, 2007, 03:26:30 PM » |
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Asiatrader is a local member if I am not mistaken.
So he knows his stuff.
Tax regulation point of view already stated earlier.
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"Ren fa di, di fa tian, tian fa tao, tao fa zi ran"
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asiatrader98
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« Reply #47 on: March 20, 2007, 10:20:03 AM » |
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Asiatrader is a local member if I am not mistaken.
So he knows his stuff.
Tax regulation point of view already stated earlier.
no, i am stock daytrader with one of the big investment bank, my freind, top 3 volume trader in futures mkt, as a local member, who told me this issue long time ago, i have to pay 100% of my trading profit while he only pay 30% of his profit (if I am right), we all have the liscen to trade |
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asiatrader98
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« Reply #48 on: March 20, 2007, 10:23:55 AM » |
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grey area....how to consider as professional or local member? Example is if trading future is the mainstream income then it can be classify as 'income' and not 'capital gain', so it is subject to 'income tax'.
comment?
cheers
unless u are full time & attached with sec/fututes firms or investment bank otherwise u shall considered urself not a group of professional (income) even u are active & making a lot of money (capital gain), i hope i am right in this statement  |
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« Last Edit: March 20, 2007, 07:52:32 PM by bizfun »
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jay
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« Reply #49 on: July 24, 2007, 08:57:49 AM » |
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what do u all think about this topic?
1) Anybody doing trading 'futures only' for living?
As we know, future trading is a zero sum game, unlike equities where you can get win-win situation (buy and hold) so in a long run, does it really work out to be your rice bowl? you win mean somebody has to lose and in a long run, who can gather the huge fortune since the longer you into the game, the higher chances you will encounter lost, at least statistically.
2) It seem like futures trading become a game of gambling, which the market is control by emotion and after all is human rather than luck. This again bring back the question of no. 1.
i am looking forward to hearing from you all soon on this topic...
i am personally feel this topic is worth for discussion and sharing base on personal experience in futures trading.
cheers
Trading futures for living can be a reality with strong back up money and knowledge about this field. I think a proper trading plan is a must and to achive this we have to be ready to accept the loss first.Anyhow, i think it can achievable and it is my dream too...maybe in 5 years time.... |
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Make Money Be Happy!
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reitoshi
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« Reply #50 on: October 30, 2007, 06:42:54 PM » |
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You don't need big capital to trade futures and make it big there. What u need is the skills. U must have the skills and u have seen how market behaves during high volatility market.
People say that u need big capital to make money in futures it's not true. I did it with less than RM 5000.
And i turned it into 300 times return. In just a matter of 8 months.
The key is trade small first get the correct skill set. Then when u r confident of your consistent profit. U pyramid all the way. If your accuray is around 70% that will do with appropriate cut loss skills.
The trick to make a lot of money in index futures is use your unrealized profit to ride the trend. It's not like stocks u need to realize your profit to buy another stock. In futures trading unrealized profit can be used to buy another lot of contract if u think the trend is favorable to you.
Trend trading is the key.
Regards,
alanpei
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SleepWalk
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« Reply #51 on: October 30, 2007, 09:35:07 PM » |
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Reitoshi,
if only we know in advance the 8 months will be big bull like attached, we also can make million.
you want to share your method? for a fee perhelps??
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reitoshi
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« Reply #52 on: October 31, 2007, 01:52:53 PM » |
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That's how I did it. I pyramid all the way because from the KLCI chart I knew it will hit at least 1300. The trick here is to know how to read from the chart when a superbull is coming.
This round I do believe anyone can pyramid again since KLCI is heading 1550-1630 area.
With appropriate skills I think there will be half a millionaire created by this movement. Millionaire a bit hard now because the deposit is more expensive now at RM 5000.
When I started pyramiding the deposit was RM 1300.
It's still OK, still can make tons of money from there.
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Maxforce
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« Reply #53 on: October 31, 2007, 07:50:51 PM » |
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Boy Plunger style? Not my cup of tea  |
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"Ren fa di, di fa tian, tian fa tao, tao fa zi ran"
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SleepWalk
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« Reply #54 on: October 31, 2007, 09:01:52 PM » |
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That's how I did it. I pyramid all the way because from the KLCI chart I knew it will hit at least 1300. The trick here is to know how to read from the chart when a superbull is coming.
This round I do believe anyone can pyramid again since KLCI is heading 1550-1630 area.
With appropriate skills I think there will be half a millionaire created by this movement. Millionaire a bit hard now because the deposit is more expensive now at RM 5000.
When I started pyramiding the deposit was RM 1300.
It's still OK, still can make tons of money from there.
your style can make $ during low volatility and trending period, how about sideway and high volatility period? can lose alot. i still admire you can grap the opportunity and make $ out of it, now with RM5000 margin, i culculated the profit will not be great, some more now is high volatility, this method may not work. what do you think. |
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reitoshi
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« Reply #55 on: November 01, 2007, 12:39:06 AM » |
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I understand what u said by high volatility. It's a 2 way market when market is bullish and trending up pyramid up.
When correction is due pyramid short.
It's a 2 way market. If u don't short when the market is in correction mode then you don't take advantage of futures trading advantage.
I traded in all environment trending up , trending down and high volatility.
I made the most money in high volatility market. During the high volatility in Feb and August the money I made overnite can buy a condo.
U gotta have the skills and fast reaction to high volatility market. Becoz market went down and up by almost 200 pts in Feb and August.
If u got the skills u make more money than trending market in less time by pyramiding in high volatility market.
See the high volatility in Feb was down almost 200 pts then in March rebounded also almost 200 pts.
In August high volatility down 200 pts up 200 pts.
In high volatility market that must be a dominant direction. It's either up or down dominantly.
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SleepWalk
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« Reply #56 on: November 01, 2007, 07:55:47 AM » |
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reitoshi,
you are right, if got the skill can beat the market, also mention you do not use RSI and MACD, can you enlighten me what are the type of system that lead you to 70% accuracy, do you do back testing? mannually or using software?
do you use fibonachi and gann method?
currently are you long or short? to me, looks like is sideway waiting for break out. is it correct?
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reitoshi
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« Reply #57 on: November 01, 2007, 08:07:54 AM » |
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Currently I have been long all the way I know the picture is up. I have longed November 2007 contract all the way from 1339.
The daily chart of KLCI is so bullish. Dow Jones is bullish. Expecting KLCI to hit above 1500 soon.
Of course at the same time on guard of temporary short term trend change. But the big picture is up.
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SleepWalk
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« Reply #58 on: November 01, 2007, 08:54:54 AM » |
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agreed, today picture is long.
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honeywell
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« Reply #59 on: November 01, 2007, 09:24:28 AM » |
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agreed, today picture is long.
u guys are really money maker |
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