CFD Trading Loss

[pinkboy]

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.

Insinuating sexuality by notion of 'pink' in a name is not 'losing temper' or a 'slip of tongue'. Dont make excuses for *that* type of behavior.

Good quality forumites have left or revoked their posting quota for far less. You even ask for more active posting, of which Im trying my hardest to engage in.

I might be only a box of chocolates smarter than Forrest Gump, but I have right to defend.


pinkboy

 

[Joe Blow]

Insinuating sexuality by notion of 'pink' in a name is not 'losing temper' or a 'slip of tongue'. Dont make excuses for *that* type of behavior.

Good quality forumites have left or revoked their posting quota for far less. You even ask for more active posting, of which Im trying my hardest to engage in.

I might be only a box of chocolates smarter than Forrest Gump, but I have right to defend.

pinkboy, I issued the warning based on the post by nekminit that I saw and removed. I allowed you to respond in this thread to the PM which I was not aware of.

Let's try and get this thread back on topic.

 

[skc]

I might be only a box of chocolates smarter than Forrest Gump, but I have right to defend.

pinkboy

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 think Joe's words were directed at the OP...

 

[pinkboy]

Pinkboy, I think Joe's words were directed at the OP...

Make that one less chocolate in the box.


pinkboy

 

[Trembling Hand]

Overall

Win % 45.4%
Win/Loss Ratio 1.64

Oh, so gambling?

Pinkboy am I missing something here. They are goodish numbers why would you conclude gambling (I'm assuming you meant that as a negative)

 

[nekminit]

Upset people all around, don't get mad i took your money from the markets.

 

[nekminit]

Nekminit your money was gone.

 

[pinkboy]

Pinkboy am I missing something here. They are goodish numbers why would you conclude gambling (I'm assuming you meant that as a negative)

Good numbers - obviously down from great numbers.

Read into the actions of the OP above his numbers. Punting trades. What was a harmless dig, obviously hit a precious nerve.

pinkboy

 

[nekminit]

Overall

Win % 45.4%
Win/Loss Ratio 1.64

 

[lesm]

Hi folks

Have lost 6 figures trading CFDs (Igmarkets) can any of the loss be carried on when doing personal tax return?

The thread appears to have lost context with the OPs original question, refer above.

He disclosed how he incurred the loss after being asked.

The OP can trade any way he wishes, whether people think it's a good or bad or gambling approach is up to them. Unless I've missed something, I don't think he asked for advice on how to trade or how he could change his approach to trading.

Besides the PM that caused some reaction and timely intervention by Joe, it appears that a number of ASF members besides yourself may have been PM'ing the OP with trading advice.

Whether he regains the loss, using his approach to trading, or incurs further losses only time will tell.

The OP has further provided some stats related to his approach, which TH commented on, as per his post below.

Pinkboy am I missing something here. They are goodish numbers why would you conclude gambling (I'm assuming you meant that as a negative)

Why not just let it rest and people go back to the original question raised by the OP. Looks like nerves have been hit on more than one side.

Have a beer or two or whatever you like to drink, laugh it off and move on with life. Maybe you can have a good laugh together one day. with the OP.

 

[minwa]

Upset people all around, don't get mad i took your money from the markets.

Newsflash: you don't take anyone's money here from trading CFDs.

Come on everyone stop feeding him the attention he's seeking..if he just registered to see if he could deduct trading losses (a question for his accountant) he would not have mentioned the amount.

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.

Post a screenshot of the "PMs" you got ?

 

[nekminit]

I did ask for this thread to be deleted, not here to prove anything and for the record i have had many PM me asking for help/guidance in the end i hope i can help them some way. onwards and upwards.

 

[nekminit]

Newsflash: you don't take anyone's money here from trading CFDs.

Come on everyone stop feeding him the attention he's seeking..if he just registered to see if he could deduct trading losses (a question for his accountant) he would not have mentioned the amount.



Post a screenshot of the "PMs" you got ?

Why should i? let the admin check and tell you. laters let me know what you trade so i can take your cash.

 

[nekminit]

So please delete thread.

 

[barney]

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.

Its an easy trap to fall into for sure, and greed is a lot more destructive than fear.

If I had $1.5 million of the house's money, the first thing I'd do is put 2/3rds of it somewhere where the House couldn't get at it


I hope the thread isn't deleted. I'm genuinely interested in your plan of attack from here.

Cheers.

 

[pinkboy]

Upset people all around, don't get mad i took your money from the markets.

Nekminit your money was gone.

I find it funny you're originally here to ask for a handout from the ATO after Mr. Market took your money.

pinkboy

 

[tech/a]

Someone dealing with these sorts of $s
has to ask such a basic question.

If you have over $1mill you have people in place
handling these menial tasks.

I treat these sort of posts as forum chatter.
No value.

 

[lesm]

Someone dealing with these sorts of $s
has to ask such a basic question.

If you have over $1mill you have people in place
handling these menial tasks.

I treat these sort of posts as forum chatter.
No value.

Couldn't agree more. Really a question for an accountant or the ATO.

Wonder if he declared the original income.

These types of questions started appearing earlier in time when CFDs first came into existence in Aus.

 

[Trembling Hand]

Couldn't agree more. Really a question for an accountant or the ATO.

Wonder if he declared the original income.

Its clear that he hasn't. If he has been trading profitable for 4 years and doing his tax he would be doing the exercise every 3 months, or his Accountant. The ATO would have him in the PAYG system after he lodges his first tax return in the first year.

So not only does it seem he is a cowboy with leverage he also doesn't look after the basics of his business. What will the return be after the ATO catches up with the unclaimed profits and slaps on the 13% interest penalty rate?

 

[Wysiwyg]

I have a recent good example of how CFD providers make the most out of a clients loss. I took a short position on the Wednesday and decided to hold overnight. The following day the indicative price showed me I would be stopped out at open with a higher open price. I notice on my statement the position was closed not at open price but at the exact high of the day. :bad: Hopefully newbies will learn from this.

p.s. I can provide evidence.