CFD Trading Loss

[nekminit]

Can confirm that the loss can be deducted with ATO, reason is i started a business which made decent profit so i might as well use my loss in trading.

 

[ThingyMajiggy]

nekminit has given you the answer already?

My bad, didn't piece together a trade from 2010 being the losses from the last 3 months.

 

[skc]

My bad, didn't piece together a trade from 2010 being the losses from the last 3 months.

I didn't mean that he still has his FMG position open (if that's what you are thinking). I meant if that trade was indicative of the way he uses leverage than you wouldn't be surpised to see large losses on occassions.

 

[ThingyMajiggy]

I didn't mean that he still has his FMG position open (if that's what you are thinking). I meant if that trade was indicative of the way he uses leverage than you wouldn't be surpised to see large losses on occassions.

Yeah but he claims massive account gains(50K to 1.92M) and is asking about tax for this big loss, like as though it's never happened before(otherwise he'd know all about how the tax works?), so thought something might have changed in his trading in the last 3 months for there to be such a huge loss.

But yeah I get what you mean

 

[Trembling Hand]

Can confirm that the loss can be deducted with ATO, reason is i started a business which made decent profit so i might as well use my loss in trading.

Hey? You haven't been doing a quarterly PAYG statement for the last 4 years although you have made some huge gains? Would it not be self explanatory if you were doing your tax during this time?

 

[nekminit]

People that have PM'd me i have sent you copy of my trades for inspiration and my account statement, the rest of the coin pushers no need to get upset.

leverage or go home.

 

[skc]

People that have PM'd me i have sent you copy of my trades for inspiration and my account statement, the rest of the coin pushers no need to get upset.

leverage or go home.

Please don't inspire people that way. How you choose to trade your money is your own business.... but you can ruin other people's life by telling them to trade like a leveraged nut.

 

[John Swift]

Please don't inspire people that way. How you choose to trade your money is your own business.... but you can ruin other people's life by telling them to trade like a leveraged nut.

Getting rich slow isn't the only option. Not sure why people only feel like they can/should only advocate for the 'safe' way... isn't that what aussiegovernmentbondforums.com is for?

Leverage or go home... coin pushers don't be hatin'!

 

[nekminit]

Please don't inspire people that way. How you choose to trade your money is your own business.... but you can ruin other people's life by telling them to trade like a leveraged nut.

I show other people my broker statement which is straight from IG, it is up to them to find a strategy and collect from the market, NOT telling people what trade to enter or exit.

In the mean time have been reading these forums for good 3 years most here are coin pushers with no verified accounts or anything of that sort just all TALK TALK & more TALK.

 

[minwa]

Here we go..

Alvin Purple, Tollbridge now we have their successor. Registered Oct '14..

Talks about verified IG account lol..

 

[DeepState]

:jerry

Here we go..

Alvin Purple, Tollbridge now we have their successor. Registered Oct '14..

Talks about verified IG account lol..

:jerry

 

[pinkboy]

I show other people my broker statement which is straight from IG, it is up to them to find a strategy and collect from the market, NOT telling people what trade to enter or exit.

In the mean time have been reading these forums for good 3 years most here are coin pushers with no verified accounts or anything of that sort just all TALK TALK & more TALK.

Us 'coin pushers' aren't 3 bad trades away from bankruptcy.

pinkboy

 

[barney]

Some memborable trades below in no order.


Sprint nextel US
QBE
Gold ( Aug 13 )
DPW ( Germany )
Best Buy ( This trade made me 97k )
SPX500
NXT UK
FMG
8001
Softbank corp
CSC
VNO

Just some positions

How did i do it? Back in April 2010 i opened a position FMG going long with 120,000 CFDS entry @ $4.45 exit $5.33


Go big or go home is the moto

Ok. Thanks for the list.

I'm almost more interested in why you've lost almost 500K in the last 3 months?

"Nek" I have no doubt many will be envious of your track record, and good luck to you for turning over such a large profit, but I think Sam's question is very valid ....... ie. To lose such a large slab of your acquired profits in such a short space of time, do you think were you overweight on your risk parameters? On these large leveraged trades, do you have a mental stop/uncle point in place before you take the trade or is it a totally discretional decision at the time?

Cheers.

 

[nekminit]

Ok. Thanks for the list.




"Nek" I have no doubt many will be envious of your track record, and good luck to you for turning over such a large profit, but I think Sam's question is very valid ....... ie. To lose such a large slab of your acquired profits in such a short space of time, do you think were you overweight on your risk parameters? On these large leveraged trades, do you have a mental stop/uncle point in place before you take the trade or is it a totally discretional decision at the time?

Cheers.

Have lost large amount because of greed and doing things that i shouldn't be, taking on more trades, wider stop losses and just being way to fearless. I know i will get back what i lost and more and also know that i got this money from pretty much thin air.

Overall

Win % 45.4%
Win/Loss Ratio 1.64
Expectancy 0.14
Average Days in Trade 13.6

 

[pinkboy]

Have lost large amount because of greed and doing things that i shouldn't be, taking on more trades, wider stop losses and just being way to fearless. I know i will get back what i lost and more and also know that i got this money from pretty much thin air.

Overall

Win % 45.4%
Win/Loss Ratio 1.64
Expectancy 0.14
Average Days in Trade 13.6

Oh, so gambling?

pinkboy

 

[pinkboy]

Hey nekminit!

If you're going to call me a 'queer@r$e' - at least have some balls to call it out in the open! Sheesh, by private message!

I got thicker skin than that bro!


pinkboy

 

[Joe Blow]

Hey nekminit!

If you're going to call me a 'queer@r$e' - at least have some balls to call it out in the open! Sheesh, by private message!

I got thicker skin than that bro!

Hi pinkboy, he did but I removed the post. I don't think that kind of deliberate provocation is acceptable in discussions here at ASF.

If someone disagrees with reasonable criticism of their trading style, methodology or opinions the only acceptable response is to address to the criticism directly, not to attack, insult or provoke the person who is being critical.

 

[pinkboy]

I show other people my broker statement which is straight from IG, it is up to them to find a strategy and collect from the market, NOT telling people what trade to enter or exit.

In the mean time have been reading these forums for good 3 years most here are coin pushers with no verified accounts or anything of that sort just all TALK TALK & more TALK.

Hi pinkboy, he did but I removed the post. I don't think that kind of deliberate provocation is acceptable in discussions here at ASF.

If someone disagrees with reasonable criticism of their trading style, methodology or opinions the only acceptable response is to address to the criticism directly, not to attack, insult or provoke the person who is being critical.

Hi Joe Blow.

The precedence was set by the Original Poster to attack the trading style of certain posters.

I get the rules of the forum no sweat. I engage as best I can in true trading discussion, can laugh and fly a bit of banter, jump in some general off topic talk - but can hold my own when there is some argy bargy!

Perhaps a 4 day young poster throwing 'off cuff' attacks should be more the focus here?


pinkboy

 

[Joe Blow]

Perhaps a 4 day young poster throwing 'off cuff' attacks should be more the focus here?

It has been noted and a warning has been issued. I like to give everyone a chance to modify their behaviour. We are all capable of losing our temper occasionally.

However, continued provocation or insults will result in harsher measures being taken.

 

[skc]

Overall

Win % 45.4%
Win/Loss Ratio 1.64
Expectancy 0.14
Average Days in Trade 13.6

Check your maths.

My experience has been contrary to Avion's. Regardless of turnover I was never able to deduct trading losses against other income. :'(

Let us know what your accountant says.

Getting rich slow isn't the only option. Not sure why people only feel like they can/should only advocate for the 'safe' way... isn't that what aussiegovernmentbondforums.com is for?

Leverage or go home... coin pushers don't be hatin'!

Right... if you going to leverage at least find an accountant who let you deduct trading losses.