Trading Crypto with a dart

[moXJO]

$3661.03.

Up about $140.00

gg

Dude that's like 4 coffees worth of profit in Sydney.

 

[Dona Ferentes]

Kopi Luwak ,??

 

[Garpal Gumnut]

I am out at $3659.68.

Initial stake $3511.89

Profit. $147.79

Due to @qldfrog noting a diurnal trading opportunity I have. in my paper trade, imediately re-entered at $3659.68 and will exit in approx 36 hours at 6.06 pm Saturday to test his theory.

gg

 

[basilio]

Kopi Luwak ,?

Go for it

I tried a cup of the 'most expensive coffee in the world' — here's why it's a tourist trap you shouldn't buy into

Kopi Luwak is coffee made from beans digested by a civet. Balinese farmers have touted for generations that it is the best-tasting coffee. I tried it. It's nothing special.

www.businessinsider.com.au

 

[Garpal Gumnut]

I am out at $3659.68.

Initial stake $3511.89

Profit. $147.79

Due to @qldfrog noting a diurnal trading opportunity I have. in my paper trade, imediately re-entered at $3659.68 and will exit in approx 36 hours at 6.06 pm Saturday to test his theory.

gg

I couldn't resist having a peek at ETH atm 8.43 pm Townsville True Time. ( TTT )

$3441.41

I'm down over $200 on this second paper trade, but it is evening TTT so @qldfrog 's system is running true.

Will I panic. NO. Anyone spare me some change for a Kopi Luwak.

gg

 

[Garpal Gumnut]

$3,513.17 at 8.21 am.

gg

 

[charlsie]

looking forward to this thread. so far for my journey into crypto;
lost on bitcoin BTC
lost on telcoin TEL
winning on gold AUS
winning on XRP (Rippl XRP
i'm holding the wins and hoping the gold will be a hedge
the following is what i think and not to be taken as fact and anyone is welcome to support or contradict/ correct me.
ATM i'm led to believe that the ATO can't see into the platforms used to transact these coins, however they can monitor what goes in and out of your bank accounts, thus being able to judge any gains made and so declarable to them.
i'm using coinspot to buy and sell.
GG i wasn't looking to hijack your thread, just wanting to declare the skin i have in the same game and will enjoy everyone's thoughts

 

[againsthegrain]

looking forward to this thread. so far for my journey into crypto;
lost on bitcoin BTC
lost on telcoin TEL
winning on gold AUS
winning on XRP (Rippl XRP
i'm holding the wins and hoping the gold will be a hedge
the following is what i think and not to be taken as fact and anyone is welcome to support or contradict/ correct me.
ATM i'm led to believe that the ATO can't see into the platforms used to transact these coins, however they can monitor what goes in and out of your bank accounts, thus being able to judge any gains made and so declarable to them.
i'm using coinspot to buy and sell.
GG i wasn't looking to hijack your thread, just wanting to declare the skin i have in the same game and will enjoy everyone's thoughts

I am pretty sure I read many times that ATO are getting data from exchanges and matching it direct to tax returns that will lodged... there is nowhere to hide

 

[Dona Ferentes]

Cryptocurrency under the microscope this tax time | Australian Taxation Office

The Australian Taxation Office (ATO) is concerned that many taxpayers believe their cryptocurrency gains are tax free or only taxable when the holdings are cashed back into Australian dollars.

www.ato.gov.au

 

[Garpal Gumnut]

$3601.41 at 3.01 pm.

I am climbing back towards break-even on my second trade as @qldfrog predicted.

@Dona Ferentes post re. ATO will not apply to this paper trade were it real, unless.....

gg

 

[charlsie]

thanks to againstthegrain and donna for the heads up....what do they say about death and taxes.....

 

[qldfrog]

I am pretty sure I read many times that ATO are getting data from exchanges and matching it direct to tax returns that will lodged... there is nowhere to hide

I am using an Aussie exchange so assume the ATO knows it all;
would be different with an O/S exchange as i doubt they monitor/can monitor these

 

[Dona Ferentes]

@Dona Ferentes post re. ATO will not apply to this paper trade were it real, unless.....

Dart; or is it a paper aeroplane

 

[Garpal Gumnut]

$3612.77 was my exit point at 6.06pm TTT this evening
$3659.68 was my entry point at 6.06am TTT yesterday

A $47 loss give or take a drop of Kopi Luwak.

I will wait until 6.06 am tomorrow morning and enter paper trading ETH x 1, exiting tomorrow evening, to test @qldfrog 's theory.

As to @Dona Ferentes' distressing news on the ATO, I presume once the borders open I will be able to fly to Miami for an ETH Conference and claim from my taxable income reasonable business class airfares and Mar-A-Lago accomodation and munch canapés with The Donald.

gg

 

[qldfrog]

$3612.77 was my exit point at 6.06pm TTT this evening
$3659.68 was my entry point at 6.06am TTT yesterday

A $47 loss give or take a drop of Kopi Luwak.

I will wait until 6.06 am tomorrow morning and enter paper trading ETH x 1, exiting tomorrow evening, to test @qldfrog 's theory.

As to @Dona Ferentes' distressing news on the ATO, I presume once the borders open I will be able to fly to Miami for an ETH Conference and claim from my taxable income reasonable business class airfares and Mar-A-Lago accomodation and munch canapés with The Donald.

gg

In your tongue in cheek comment,i hope that indeed all taxpayers will not forget to claim their associated costs,and very soon claim their losses on cryptos.i would actually not be surprised if this costs the ATO overall.
if you indeed believe cryoto currencies are a transfer of money from the suckers to the scammers in many cases,it is great relief knowing the ATO is willingly ready to take its share of the losses?

 

[Garpal Gumnut]

$3369.01 is my entry point at 6.06 am TTT this cold morning in North Queensland ( 18C ) . I am pleased to have sold my ETH yesterday evening.

ETH seems to necessitate the wearing of garlic as it is not a safe-at-night commodity.

gg

 

[Garpal Gumnut]

$3508.26 exit this pm

$3369.01 entry this am

$ 139.25 profit

A true day trading crypto is ETH.

gg

 

[peter2]

@Garpal Gumnut I'm shocked. Tell me you weren't working on the week-end! How can you face the patrons at the Breakfast Creek Hotel?

I know. Tell them your "man" did all the dirty work on your behalf.