I can't speak with any knowledge regarding trading income and how it can best be addressed with the IRS, but I am also a US citizen and I can tell you that you want to be very careful with most countries that are advertised as traditional tax ...

Perpetual travelers and tax on forex

Having the cohones to remain consistent — If you've read my previous posts, you know that I have paid the price for picking-and-choosing signals. Now that I've switched to trading the daily bars, I have vowed to trade ALL signals. Today was ...

Bytebodger's Pip-Burning Journal

SAR filtering out Fozzy whipsaws — I wanted to post the chart that I used today to make my EURJPY trade. (It is almost identical to the chart that I used to make my GBPJPY trade.) This chart illustrates, for better or for worse, one side ...

Bytebodger's Pip-Burning Journal

Here we go - trading ALL signals... — Trade update (new trades in bold): (F) Sell 1 EURCAD @ 1.4836, SL @ 1.4682 (A) Sell 1 AUDUSD @ 0.8235, SL @ 0.8262 (A) Buy 1 GBPCHF @ 2.4235, SL @ 2.4171 (A) Buy 1 USDCHF @ 1.2274, SL @ 1.2253 (F) Sell 1 ...

Bytebodger's Pip-Burning Journal

The problem lies in the brokers' underlying business model. In other words, the brokers are employing a business model that inherently puts them at odds with their own clients. Most retail traders actually ENJOY this arrangement - whether they admit ...

How the retail Forex works. Dealers vs. Clients

OK, I do NOT claim to have any special tax expertise and I am just getting started in this myself, so take everything I say with a big dose of skepticism. That being said, I do know that in certain jurisdictions, the "nomadic lifestyle" does not ...

Perpetual travelers and tax on forex

You can try too hard at this — I've been thinking a lot about the trading debacle that has been my last several weeks and I've come to a significant conclusion: I've been trying too hard to be successful at forex trading. That may initially ...

Bytebodger's Pip-Burning Journal

Yes, I'm outed! To be honest, it took me a while to reach this point for a couple of reasons: It was hard to figure out which version of the Fozzy to trade. The Fozzy is a great method, but it's not the Grail - you probably need to apply a filtering ...

Bytebodger's Pip-Burning Journal

Trade update (new trades in bold): (F) Sell 1 EURCAD @ 1.4836, SL @ 1.4798 (A) Sell 1 AUDUSD @ 0.8235, SL @ 0.8289 (A) Buy 1 GBPCHF @ 2.4235, SL @ 2.4125 (A) Buy 1 USDCHF @ 1.2274, SL @ 1.2186 (F) Sell 1 USDCAD @ 1.0895, SL @ 1.0944 * The (F) and ...

Bytebodger's Pip-Burning Journal

Weekly status check — I started this journal, in part, because I wanted to have a place to account for my successes - and my failures. If I am going to improve my trading performance I must first be able to own up to my past performance and ...

Bytebodger's Pip-Burning Journal

A hearty thank-you to you, sir! This is one of those little utilities that doesn't do any special magic, but it's tremendously valuable for its sheer usefulness. I know, mathematically, how to calculate the pip values but it's always a pain to do ...

How is the pip value of the crosses calculated?

Hahaha - well, it's FAR too early to draw any conclusions, but my first Fozzy trade is looking beautiful. It's currently up 115 pips and I've moved the SL to BE. My three ADX trades have been up-and-down and are currently a combined -16 pips. Of ...

Bytebodger's Pip-Burning Journal

The title of your post says it all. If someone can't identify "Dagny Taggart" then they shouldn't bother reading your posts. Those who know Dagny will undoubtedly find value in your offerings.

Dagny Taggart ~ 1 2 3

Trade update (new trades in bold): Sell 1 EURCAD @ 1.4836, SL @ 1.4913 Sell 1 AUDUSD @ 0.8235, SL @ 0.8289 Buy 1 GBPCHF @ 2.4235, SL @ 2.4125 Buy 1 USDCHF @ 1.2274, SL @ 1.2186 I am attaching the chart for AUDUSD. This is a very simple system. I'm ...

Bytebodger's Pip-Burning Journal

With my new daily approach, I am combining two strategies. My first trade with these strategies is as follows: Sell 1 EURCAD @ 1.4836, SL @ 1.4913 From the attached chart, many of you will recognize this as a "Fozzy trade" - with a twist. I spent a ...

Bytebodger's Pip-Burning Journal

Well, I've made another command decision. I am dropping the hourly charts. They're killing me. I got waxed again last night and it happened, not because my "system" or my "process" was flawed, but because I can't check the market every single hour. ...

Bytebodger's Pip-Burning Journal

This gives me an idea... I'm currently trading, for the most part, in whole lots. (A "whole" lot with MB Trading is not the same as a "standard" lot with most brokers. I've heard people refer to a standard lot as $100k worth of currency. ...

Bytebodger's Pip-Burning Journal

I am VERY glad that I started this journal. Feedback like this is really helping me to sort through these issues. OK, so we're sort of talking about the same thing. I am designating a given number as my maximum exposure in terms of lots. But when ...

Bytebodger's Pip-Burning Journal

And here's my USDJPY trade that's still live from last night. In case, you're wondering, these ARE a few cherry-picked examples. I've already had some losing trades with this. But overall, I'm up nicely in the last 24 hours. I'll post more details ...

Bytebodger's Pip-Burning Journal