Foreign Exchange Gain/Loss - Overview, Recording, Example

The comedy how I lost all my money in two hours

I'm trading for 11 months with pretty good success.
I never traded metals and forex before, just stocks. Today when gold started to consolidate at the last hour, I decided to scalp short it with a large amount, so I opened 100 lots. I haven't realised, in forex 100 (lots) doesn't mean "100 pcs", because I used to stocks and I went full retard without knowledge.
Seconds later, I realised it means 10 million dollars (1 lot = 100.000, and I had 500x leverage).
It moved up a bit and immediately I was down £4000. I scared as fuck and rather than closing the position quickly I hoped maybe I could close break even.
The market closed, and I waited for the Asian session. The gold popped like never before, and I lost all my life savings (£55000) in less than two hours. (including the 1-hour break between sessions).
If I count that I lost all my earnings as well, I lost around £85000.
Here is the margin call
https://imgur.com/a/XY5m4ZA
https://imgur.com/a/VSgmCSs
https://imgur.com/pRWl5g9
IC Markets closed my position partially in every 1-2 minutes until I shut it myself at £35.
You know the rest of the story. I'm depressed, crying and shouting with myself.
Yes, I know I was stupid, thanks. I just wanted to share this with you.



Edit: WOW THANK YOU, GUYS! I haven't expected this, but you help me.
Many of you asked the same questions, I answer it here:
- I live in Europe, and we usually trade CFD's, not futures.
- Currency in GBP.
- As you can see, this account made on IC Markets. They not just allowing you a 500x leverage, it's the default.
- You can ask me why I went against the market. Because gold is way oversold? Because I expected institutions would sell their shares before gold is hitting £2000, leaving retails hanging there. Also, as I said, I wanted to scalp, not riding the gold all the way down. If I had a loss of £100, I would close the position immediately. But when I saw the £4000, my heart is stopped, and my brain just freezes.
- I went for a revenge trade with my last £2k, and I don't have to say what happened. I uninstalled the app, and I give up trading for a while.
- Again, in the past months, I was cautious, I lost a significant sum in March, but I managed to recover. Made consistent gains, always with SL. This is just an example of how easy is to fuck up everything you did.
- I didn't come here for some shiny digital medals. I can't tell about my losses to anyone who I know in real life. I would make a fool of myself.
- Anyone who attacking me that it is a scam. Well, think what you want. I feel terrible and the last thing is to answer all the messages saying "You fucking karma whore". I don't give a shit about karma.

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ATO Australian tax treatment for options trades 🇦🇺

I am posting this as I hope it will help other Australian options traders trading in US options with their tax treatment for ATO (Australian Tax Office) purposes. The ATO provides very little guidance on tax treatment for options trading and I had to do a lot of digging to get to this point. I welcome any feedback on this post.

The Deloitte Report from 2011

My initial research led me to this comprehensive Deloitte report from 2011 which is hosted on the ASX website. I've been through this document about 20 times and although it's a great report to understand how different scenarios apply, it's still really hard to find out what's changed since 2011.
I am mainly relating myself to the scenario of being an individual and non-sole trader (no business set up) for my trading. I think this will apply to many others here too. According to that document, there isn't much guidance on what happens when you're an options premium seller and close positions before they expire.
Note that the ATO sometimes uses the term "ETO" (Exchange Traded Option) to discuss what we're talking about here with options trading.
Also note: The ATO discusses the separate Capital Gains Tax ("CGT") events that occur in each scenario in some of their documents. A CGT event will then determine what tax treatment gets applied if you don't know much about capital gains in Australia.

ATO Request for Advice

Since the Deloitte report didn't answer my questions, I eventually ended up contacting the ATO with a request for advice and tried to explain my scenario: I'm an Australian resident for tax purposes, I'm trading with tastyworks in $USD, I'm primarily a premium seller and I don't have it set up with any business/company/trust etc. In effect, I have a rough idea that I'm looking at capital gains tax but I wanted to fully understand how it worked.
Initially the ATO respondent didn't understand what I was talking about when I said that I was selling a position first and buying it to close. According to the laws, there is no example of this given anywhere because it is always assumed in ATO examples that you buy a position and sell it. Why? I have no idea.
I sent a follow up request with even more detail to the ATO. I think (hope) they understood what I meant now after explaining what an options premium seller is!

Currency Gains/Losses

First, I have to consider translating my $USD to Australian dollars. How do we treat that?
FX Translation
If the premium from selling the options contract is received in $USD, do I convert it to $AUD on that day it is received?
ATO response:
Subsection 960-50(6), Item 5 of the Income Tax Assessment Act 1997 (ITAA 1997) states the amount should be translated at the time of the transaction or event for the purposes of the Capital Gains Tax provisions. For the purpose of granting an option to an entity, the time of the event is when you grant the option (subsection 104-20(2) ITAA 1997).
This is a very detailed response which even refers to the level of which section in the law it is coming from. I now know that I need to translate my trades from $USD to $AUD according to the RBA's translation rates for every single trade.
But what about gains or losses on translation?
There is one major rule that overrides FX gains and losses after digging deeper. The ATO has a "$250k balance election". This will probably apply to a lot of people trading in balances below $250k a lot of the FX rules don't apply. It states:
However, the $250,000 balance election broadly enables you to disregard certain foreign currency gains and losses on certain foreign currency denominated bank accounts and credit card accounts (called qualifying forex accounts) with balances below a specified limit.
Therefore, I'm all good disregarding FX gains and losses! I just need to ensure I translate my trades on the day they occurred. It's a bit of extra admin to do unfortunately, but it is what it is.

Credit Trades

This is the scenario where we SELL a position first, collect premium, and close the position by making an opposite BUY order. Selling a naked PUT, for example.
What happens when you open the position? ATO Response:
The option is grantedCGT event D2 happens when a taxpayer grants an option. The time of the event is when the option is granted. The capital gain or loss arising is the difference between the capital proceeds and the expenditure incurred to grant the option.
This seems straight forward. We collect premium and record a capital gain.
What happens when you close the position? ATO Response:
Closing out an optionThe establishment of an ETO contract is referred to as opening a position (ASX Explanatory Booklet 'Understanding Options Trading'). A person who writes (sells) a call or put option may close out their position by taking (buying) an identical call or put option in the same series. This is referred to as the close-out of an option or the closing-out of an opening position.
CGT event C2 happens when a taxpayer's ownership of an intangible CGT asset ends. Paragraph 104-25(1)(a) of the ITAA 1997 provides that ownership of an intangible CGT asset ends by cancellation, surrender, or release or similar means.
CGT event C2 therefore happens to a taxpayer when their position under an ETO is closed out where the close-out results in the cancellation, release or discharge of the ETO.
Under subsection 104-25(3) of the ITAA 1997 you make a capital gain from CGT event C2 if the capital proceeds from the ending are more than the assets cost base. You make a capital loss if those capital proceeds are less than the assets reduced cost base.
Both CGT events (being D2 upon granting the option and C2 upon adopting the close out position) must be accounted for if applicable to a situation.
My take on this is that the BUY position that cancels out your SELL position will most often simply realise a capital loss (the entire portion of your BUY position). In effect, it 'cancels out' your original premium sold, but it's not recorded that way, it's recorded as two separate CGT events - your capital gain from CGT event D2 (SELL position), then, your capital loss from CGT event C2 (BUY position) is also recorded. In effect, they net each other out, but you don't record them as a 'netted out' number - you record them separately.
From what I understand, if you were trading as a sole tradecompany then you would record them as a netted out capital gain or loss, because the trades would be classified as trading stock but not in our case here as an individual person trading options. The example I've written below should hopefully make that clearer.
EXAMPLE:
Trade on 1 July 2020: Open position
Trade on 15 July 2020: Close position
We can see from this simple example that even though you made a gain on those trades, you still have to record the transactions separately, as first a gain, then as a loss. Note that it is not just a matter of netting off the value of the net profit collected and converting the profit to $AUD because the exchange rate will be different on the date of the opening trade and on the date of the closing trade we have to record them separately.

What if you don't close the position and the options are exercised? ATO Response:
The option is granted and then the option is exercisedUnder subsection 104-40(5) of the Income Tax Assessment Act 1997 (ITAA 1997) the capital gain or loss from the CGT event D2 is disregarded if the option is exercised. Subsection 134-1(1), item 1, of the ITAA 1997 refers to the consequences for the grantor of the exercise of the option.
Where the option binds the grantor to dispose of a CGT asset section 116-65 of the ITAA 1997 applies to the transaction.
Subsection 116-65(2) of the ITAA 1997 provides that the capital proceeds from the grant or disposal of the shares (CGT asset) include any payment received for granting the option. The disposal of the shares is a CGT event A1 which occurs under subsection 104-10(3) of the ITAA 1997 when the contract for disposal is entered into.
You would still make a capital gain at the happening of the CGT event D2 in the year the event occurs (the time the option is granted). That capital gain is disregarded when the option is exercised. Where the option is exercised in the subsequent tax year, the CGT event D2 gain is disregarded at that point. An amendment may be necessary to remove the gain previously included in taxable income for the year in which the CGT event D2 occurred.
This scenario is pretty unlikely - for me personally I never hold positions to expiration, but it is nice to know what happens with the tax treatment if it ultimately does come to that.

Debit Trades

What about the scenario when you want to BUY some options first, then SELL that position and close it later? Buying a CALL, for example. This case is what the ATO originally thought my request was about before I clarified with them. They stated:
When you buy an ETO, you acquire an asset (the ETO) for the amount paid for it (that is, the premium) plus any additional costs such as brokerage fees and the Australian Clearing House (ACH) fee. These costs together form the cost base of the ETO (section 109-5 of the ITAA 1997). On the close out of the position, you make a capital gain or loss equal to the difference between the cost base of the ETO and the amount received on its expiry or termination (subsection 104-25(3) of the ITAA 1997). The capital gain or loss is calculated on each parcel of options.
So it seems it is far easier to record debit trades for tax purposes. It is easier for the tax office to see that you open a position by buying it, and close it by selling it. And in that case you net off the total after selling it. This is very similar to a trading shares and the CGT treatment is in effect very similar (the main difference is that it is not coming under CGT event A1 because there is no asset to dispose of, like in a shares or property trade).

Other ATO Info (FYI)

The ATO also referred me to the following documents. They relate to some 'decisions' that they made from super funds but the same principles apply to individuals they said.
The ATO’s Interpretative Decision in relation to the tax treatment of premiums payable and receivable for exchange traded options can be found on the links below. Please note that the interpretative decisions below are in relation to self-managed superannuation funds but the same principles would apply in your situation [as an individual taxpayer, not as a super fund].
Premiums Receivable: ATO ID 2009/110

Some tips

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Beating the UK brokerage via true arbitrage - £8k -> £98k ($128k) since 21st April

Beating the UK brokerage via true arbitrage - £8k -> £98k ($128k) since 21st April
Alright you American autists, here's a gains post from the UK across the pond - listen up because it's pretty incredible, managed to screw over our broker to turn ~£8k into £98k / $128k USD by reading the small print, true u/fuzzyblankeet style.

https://preview.redd.it/9mlup18v0q951.png?width=343&format=png&auto=webp&s=aea1393d304d16063d62d54d30cc5be9b23d937a
Unfortunately, we don't have options trading, commission free robinhood which crashes, or any other US based degeneracy, but instead we British chaps can trade "CFDs" ie. 'contracts-for-difference', which are essentially naked long / short positions with a 10-20% margin (5-10x leveraged), a 'holding cost' and you could theoretically lose more than your initial margin - sounds like true wallstreetbets autism, right? Well grab a lite beer (or whatever you lite alcoholic chaps drink over there) and strap in for this stuff:
So, CMC Markets, a UK based CFD brokerage, wanted to create a West Texas Intermediate Crude Oil 'Spot' product, despite WTI contracts trading in specific monthly expirations which can thus have severe contango effects (as all of you $USO call holders who got screwed know) - this was just a product called "Crude Oil West Texas - Cash", and was pegged to the nearest front-month, but had no expiry date, only a specific holding cost -> already a degenerate idea from their part.
So in early April, just before when the WTI May-20 expiry contract 'rolled' at **negative** $-37, the "WTI Cash" was trading at $15 at the time, but the *next* month June-20 expiry was still $30+ we (I am co-running an account with an ex-Goldman colleague of mine) simultaneously entered into a long position on the "WTI - Cash" product, and went short on the "WTI Jun-20 expiry", a pure convergence play. Sure enough, the June-20 tanked the following week, and we made over £35k, realised profits. But meanwhile the May-20 also tanked, and we were down £28k. But rather than realise this loss, we figured we could just hold it until Oil prices recover, and profit on both legs of the trade.
However, CMC Markets suddenly realised they are going to lose a lot of money with negative oil prices (Interactive Brokers lost $104m, also retards), so they screwed everyone holding the "WTI - Cash" product trading at $8 at the time, and pegged it to the December 2020 expiry trading at $30, with a 'discount factor' to catch up between the two.
https://preview.redd.it/zjjzyahx0q951.png?width=517&format=png&auto=webp&s=9523bab878f06702133631f12c1109081f299f65
Now fellow autists, read the above email and try to figure out what the pure arbitrage is. CMC markets will charge us a 0.61% **per day** holding cost (calculated as the 10x levered value of whatever original margin you put up, so in our case £8k*10x=£80k*0.61% = £500 per day, £1.5k on weekends for extra fun) on our open positions, but also "increase" the position value by 0.61% per day vs. the **previous day's** WTI - Cash value. Got it yet? No? Still retarded? Here's where maths really helps you make tendies:-> If your 'cost' is fixed at 0.61% of your original levered position, but your 'gains' are 0.61% of the previous day's position, then your gains will be ever increasing, whereas your costs are fixed.
So we added some extra £££ (as much as we could justifiably put into a degenerate 10x levered CFD account) and tried to see if it works. Long story short, it does. At this point in July we were making **over £1k per day on a £8k initial position*\* regardless where the WTI Dec-20 fwd moved.
Unfortunately, eventually CMC markets realised what utter retards they were, and closed down the arbitrage loophole, applying the holding costs to the previous day's value. But not before we turned £8k into £98k, less holding costs.
https://preview.redd.it/uh0f8knz0q951.png?width=553&format=png&auto=webp&s=c7e629f72de5aeb4e837ccef44ecae708f058bee
Long story short, puts on $CMCX they're total retards, and given what a startup robinhood / other brokerages are, never assume that only they are the ones taking your tendies away, sometimes you can turn the tables on them!
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How To Start A Blog

Creating a blog couldn’t be easier and yet more complicated in 2020.
There are so many different things to think about, and yet so many different platforms you can use to streamline the process.
Understandably you’ll already have an idea of what you want to write about, I, unfortunately, can’t help you with that, but what I can do is show you how you can set up a killer blog that will drive readers to your website.
We’ll take you through what you’ll need to get started, our five steps to setting your blog up, the best blogging platforms to use, how to get your blog discovered, and the do’s and don’ts of blogging.
But first, we need to establish what type of blog you want to set up.

What type of blog?

Firstly you’ll want to have a goal in mind. What are you aiming to achieve through your blog?
Do you want to pull in more users to your sales pages by writing about your brand, to increase its publicity?
Do you want to build a blog that promotes brands and products from other companies?
Or do you just want to set up a blog documenting your travels around the world?
In order to pick the right software for you, you’ll want to have a grasp before you start of how big this blog is going to be, whether you’re going to monetize it, and what type of blog it’s going to become.
For example, if you’re planning on building an affiliate blogging programme, where you promote other brand’s products and call readers to action to but the products, you’ll be writing a lot of content and will benefit from having a more comprehensive blogging system with lots of plugins to promote sales.
But if you’re looking to just set up a personal, or a personal brand blog talking about yourself and your brand, you may not perhaps need as many comprehensive features as you would if you were building an affiliate blog.
You may also want to build an online portfolio of your work, which could require an entirely different piece of blogging kit, as opposed to the traditional blog that hosts articles and journals.

What you’ll need to get started.

There are 3 key things you’ll need to get up and running.

  1. A blogging platform.
After you’ve identified the type of blog you want to set up, plus whether you’re going to make money from it, you’ll then need to pick a blogging platform tailored to your needs. Many people chose to operate on WordPress as it is one of the most comprehensive blogging systems going, but they forget platforms like Wix and Squarespace that are great for both helping you save and make money and are great options for those who are less tech-savvy and are new to the blogging game. Plus if you’re blogging for business, you might want to think about using LinkedIn for your business blog.
We’ll go into more detail on what blogging platforms are best for your needs shortly, but make sure to keep in mind your objectives and technical experience when choosing the right platform for you.
  1. A hosting platform.
Every website needs a web host to store their website’s information on the internet. A web host is an online service provider that will store your website’s information on one of its online servers. This will put your blog out there to the world. The best web hosts will perform a variety of functions for you, for example, Wix is an all-in-one package that will host your website for you, allow you to register a domain name, and has easy to use website design tools to help you start your blog.
Web hosting can be expensive though so make sure you pick the best value for money host that can cater to the amount of traffic you have running through your website. Check out our post on the 11 best hosting providers. [Insert blog link here]
  1. A domain name.
I’m sure by now you already know what sort of blog you want to set up, whether that’s a travel, blog, a blog accompanying your online store, or perhaps an affiliate marketing product review blog. You’ll have a niche and an idea and now all you need is a name. Every website online has what’s called a domain name. It’s included in the website address at the top of your search bar, for example, our domain name is www.digitalsupermarket.com.
You’ll need to register a domain name after you purchase a hosting plan, to enable customers to find your site quickly and easily. One good tip is to find a hosting platform like Bluehost or GoDaddy that will provide you with a free domain name when you register for one of their web hosting plans as domain registration can be fairly pricey. Pick a great domain name that is easy for customers to read and type into Google so they can find it easier online.
TOP TIP: To increase your blog’s search engine ranking, and to help more people find you on Google, try to pick a domain name that has either a .com or .co.uk ending. These domains often rank a lot higher in Google searches than .org’s, .net’s, and .info’s, and for that reason can be slightly more expensive, yet can help boost your site’s reach and credibility.

The Best Blogging Platforms For You.

There are a wealth of platforms out there catering to all your blogging or online portfolio needs. We have listed some of the main ones below shedding some light on what needs they service and why they might be a great option for you.

WordPress - The best software to give you full customisation.

WordPress is perhaps one of the most renowned blogging platforms in the world, running approximately 35% of the internet. It’s favoured highly by professional bloggers because it gives you total freedom to do whatever you want with your blog. WordPress can help you build your blog using one if its search engine optimised themes, you can customise using its drag and drop website builder tool to create a stunning blog.
What’s more, is you’ll be able to use its professional blogging service to post your content online and take advantage of the hundreds of third party app plugins, you can integrate into your blog, to improve automation, add new features, and drive traffic to your site. The only downside of WordPress is that it can be quite technical and can take some time getting used to, but once you’ve got the hang of things, you’ll have great control over everything on your webpage.
Pros:
Cons:

Wix - Best for monetizing your site.

Wix is probably the most streamlined and easiest blog providers. It’s so simple and easy to use, it’s therefore great for anyone just starting out in the blogging world. You can customise one of its stunning templates with Wix’s drag and drop editor, and then upload blog posts to your site by slotting in pictures, gifs, social media buttons, sidebars, and other widgets that will help your blog stand out.
One of the coolest features about Wix is its marketplace integration, where you can install a whole variety of third-party applications to your blog to provide your users with greater features and usability. Wix is the perfect all-in-one blogging solution to help you easily build a platform to amplify your business to the world, helping you to make more money, but it can also save you a lot of money as it’s cost-efficient plans roll up, web hosting, blog posting, and domain registration all into one product!
Check out our Wix review and our comparison of Wix and Squarespace for a deep dive into Wix’s main blogging features. [Insert link here]
Pros:
Cons:

Squarespace - Best for creating visually stunning blogs.

Squarespace is very similar to Wix, in that it is an all-in-one web building and blogging platform that can help you build a blog you can monetize efficiently. It sets itself aside though through its better design and customisation features, making it one of the best platforms on the marketing if you’re looking to design a visually aesthetic blog. I’d recommend using this platform if you are a business operating in some sort of design, arts, or culinary industry.
Although it offers minimal template options, Squarespace’s templates are works of art and offer you great customization when building your blog. Plus Squarespace offers a great blogging tool that lets you schedule posts and customize your blog to suit more mobile audiences.
Pros:
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LinkedIn - Best for blogging businesses.

Aside from setting up a blog on your own site, corporate entities can use LinkedIn to enhance and amplify their presence online. LinkedIn has more than 575 million users, most of whom are professionals and members of corporate conglomerates, and you can use this social platform to target some of the most influential people in the world.
If you’re blogging about business this is the perfect platform to use a pre-existing community of people to enhance your social standing. You’ll then be able to build connections and followers on your profile who can easily share your blog on their platform through a couple of simple clicks.
Pros:
Cons:

Instagram - Best for the Artists.

Instagram is one of the biggest blogging sites in the world and without realising it, we are all technically bloggers in some way with our Instagram accounts, right? Ultimately for professional use, it is great for building a portfolio that has some form of visual or graphic eye-catching media around it. Instagram lets you post videos, photos, boomerangs, even write a blog in the photo’s caption if you wanted to!
Best of all, Instagram is free, and you can use its business software to link up your online store, to drag users away from your profile, using its product tagging features, and land them in your online checkouts. Our top tip for using Instagram is to post regularly and keep on the theme of your blog. Don’t go off-piste as you’re followers will catch on quickly and unfollow you. And with 1 billion people using the platform each day, it is a great way to gain people’s attention and build your brand’s presence online.
Pros:
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The Do’s And Don’ts Of Blogging

Here are a couple of top tips to bear in mind when building your blog to help you create an awesome, lead driven platform.

The Don’ts

Don’t use complicated language too soon.

With that in mind, do include language that your target audience will understand. But remember they are still here to learn, so don’t drop people in at the deep end right away by using complex jargon off the bat. Define terms and spell it out in layman’s terms for people at the outset, and as the post goes on, then introduce more complex writing. Introducing technical jargon at the start of your posts is an instant turn off for most readers.

Don’t waffle - Keep it succinct.

People want to get to the punchline now. 43% of people admit to skimming through blogs to get to the information they need, meaning to get your blogging site converting leads, you need to engage the reader early on and offer information succinctly throughout your post.
Plus don’t make your blog too long. Depending on what you’re writing, a lot of people will see large volumes of text and will switch off immediately. There is no set limit for what a good and bad amount of text is, that’s something you’ll have to figure out per your industry, but from my experience, the shorter, the better.

Don’t make headlines too long.

Also ensure that your headline is not more than 60 characters long. If it gets too long it won’t rank well in search engines and people just won’t want to read it. Check out this headline analysis tool which will analyse the effectiveness of your proposed headlines.

Don’t plagiarise or use credited images.

Copying other people’s work is lazy and can land you in a lot of hot water in extreme cases if you breach a copyright regulation. But it’s also just unfair on the person who has worked hard or been creative to write that work. The same goes for images, people need to make a living from the content and photos they’re taking so don’t steal that off them.

The Do’s

Do write killer headlines.

People are like goldfish. You only have about 3 seconds to get their attention. That’s why it is important to write catchy, funny, and enticing headlines to draw your reader in. One good way to do it is to use the “How To” and “10 Best” strategies. These sorts of titles telling people ‘How to set up a blog’ or ‘the ten best web hosting platforms’ are search engine optimised, lead winning titles that rank highly in Google searches. Try them out and see!

Do post regularly.

The key to creating a great blog that builds leads is posting regularly. Although it is not the best idea to post regularly. Ideally, you want to post 3-4 times a week to get the best influx of traffic to your site. You’ll also want to check out when’s best to post for your target audience, for example, if you’re in the FOREX market, you’ll want to post your blogs perhaps at 8 AM, before the markets open when city workers are on their staring at their phones on their morning commuter trains to the city.

Do share on social media.

Share your content far and wide on your social platforms. Everyone is on social media these days and its outreach is simply phenomenal. That’s why you should always share your posts to your social channels to get greater traffic on your website, and include share buttons all-around your blog to invite your readers to share your articles too!

Do use SEO keywords to drive more traffic.

In a nutshell, SEO keywords are the phrases people put into search engines when they are looking for information on a certain subject. They are how you get found on your website. Depending on what you are writing about, there is always a set of keywords relating to that topic that you can implement, to help you show up higher in people’s google searches. For example, people might regularly search in google, ‘what is the best compost for growing sunflowers?’ When you come to writing about growing sunflowers in your blog, you might want to use these words or incorporate this question into your blog somewhere, to help you rank higher on Google.

Do use call’s to action to take your readers to the next step.

If you don’t challenge your reader at the end of your blog to follow you on Instagram, or check out your sales pages, you’ll never get the leads or sales you are looking for. With that in mind, build compelling calls to action at the end of each of your posts, to pull readers into taking the next step. Check out our post on landing pages to see a couple of cool ways on how to implement calls to action on your site [insert link here].

Do identify a target audience.

People will often tell you to write as though you were in the shoes of the person you’re looking to bring to your website, but it’s true! Identify what type of people you’re writing to, for instance, if you’re writing a business blog about FOREX trading, you’ll write with potential traders in mind who have one eye on the stock market and the other on your blog. Or if you’re a wedding florist, you’ll set your portfolio up to target those people looking to get married in the next year.

Leads, Sales, Results.

Blogging is one of the most influential marketing strategies in the world and the best bloggers can reap some awesome rewards for producing some truly awesome content.
It is fairly straightforward to get started and we advise if you’re a small business, or someone with minimal blogging experience, to try out Wix or Squarespace first before you jump into using more technical platforms like WordPress. Once you’re up and running remember our top tips on what to do and what to avoid when writing your blog. Plus don’t forget to think about optimising and adding useful applications to your site to help you build and grow your content. Check out these 39 awesome blogging tools you can use to drive greater traffic to your site!
Found this article useful? Make sure you share it with your friends on Facebook and Twitter and let us know in the comments if you have any other useful blogging tips.
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How The Government Can Get 400,000 cr. to fight the Covid Slowdown

It’s obvious now that the lockdown will hurt India’s economy. And just as other countries are doing, we’ll need big stimulus to start pushing it back into gear. There’s a number of things that this process will involve:
Old businesses can take time to come back to life. Because workers would have migrated, supply chains disrupted etc. They will need help to survive through a time when their factories or offices are shut, and to have paid intermediate salaries or rent.
New businesses will have to be encouraged. Just as some businesses will need help, some of those will die. And those businesses will have to be replaced by others who are new and just getting in. Think of the barber shop that’s shut because it couldn’t pay rent for two months, but then people in the area will still need haircuts.
Giving people and small businesses money directly into their accounts will probably become a necessity, to encourage people to spend or to pay for some of the damage caused due to the lockdown.
The government will have to kickstart spending in a very large way – from better healthcare, to more infrastructure (to provide job) or simply to allow for the economy to rise again.
This costs a ton of money. A rough estimate would be, say, Rs. 400,000 cr. The government doesn’t have this kind of money right now, and raising it by selling assets or issuing debt is enormously difficult. Because the debt it has is already quite large, though not as much compared to the western governments nowadays. However, it doesn’t need to take more debt. There’s money the government rightfully owns which sits idle in a very specific place.
Here’s how it can get Rs. 400,000 cr. now.
This kind of money doesn’t grow on trees, so what nonsense is this, Deepak? (I can hear you think) But bear with me, because I’ve thought this through. The money may not grow on trees, but there’s one big mega uncle who prints it, and generates a large amount of profit. It’s called the RBI. We have written earlier that the RBI has way too much money sitting in its balance sheet that it shouldn’t have. These are called “reserves” (very different from forex reserves). Read: The RBI is hoarding too much capital. Essentially, these are very large numbers of retained earnings, that has gone up even more now with this crisis. The extra earnings can be given back to the government, which can then spend it. Now, RBI makes a lot of money from multiple sources:
It has nearly 10 lakh crore worth of government bonds, which, at 6.5% will give it roughly 65,000 cr. in interest per year.
It also has, now, 35 lakh crores of Forex assets, (lets not call them “reserves” yet) , up over 6 lakh crores in the year. Yes, the RBI has bought a truckload of dollars this year.
The forex reserves earned them over 74,000 cr. last year, and we expect this year to be a little more – probably 90,000 cr. all things considered.
That is an income of 155,000 cr. already.
Apart from this there is a big other benefit. Now the RBI owns all these dollars – it bought them when the rupee was lower (on average, probably Rs. 55 or so). When the dollar depreciates, to balance the accounts, the difference is placed in a Currency and Gold Revaluation Account (CGRA).
The CGRA already had over Rs. 6 lakh crores last year.
This year, considering the RBI has 450 billion dollars in foreign assets, that will add Rs. 4-5 per dollar as revaluation profit – around Rs. 200,000 cr. more in the CGRA.
Due to accounting changes, and due to sales of dollars (around $30 billion in the full year) we should see around Rs. 60,000 cr. as a realized capital gain this year with the RBI.
For details, here’s a good Ananth Narayan article, but note that I simply do not agree that such a profit is not a real profit – it’s as real as any rupee printed.
The RBI doesn’t spend much: 7,000 cr. on employees, 5000 cr. on printing currency and this time, probably 10,000 cr. on payment of interest.
What are you saying Deepak? All these big numbers….
Okay, ignore the nitty gritties. Simply put, RBI has a potential profit, this year, of around Rs. 200,000 cr. This is money it can remit straight to the government this year.
Doesn’t it do that always?
Well, no. The RBI is not very happy to be paying the government anything, to be honest. They keep building random “buffers” to avoid having to pay the government. See what all they have:
Contingency fund: 200,000 cr.
Why? We have no idea. The RBI never participates in any contingency whatsoever; all bank rescues are funded by the government or the PSUs or such. The RBI doesn’t even like to buy anything that isn’t government bonds, so they never take any balance sheet risk. There is no need for a contingency reserve at the RBI. And that too, 200,000 cr. – that’s more than 30% of India’s fiscal deficit! Come on.
You might keep a little bit here, but to hoard such a large number here is unnecessary.
Currency revaluation account: Now, over 800,000 cr.
This is basically reflecting the fact that RBI bought dollars at Rs. 55 or gold at Rs. 1600 per gram and now the dollar is at 75, and gold is at 3800.
This is huge. They keep adding to this fund every year, needlessly – a change in accounting procedure may help remove it.
Asset Development Fund: Rs. 23,000 cr.
Again, why? All major things owned by the RBI are now, by decree, transferred to the government. Examples: SBI, NABARD, NHB. Why should the RBI keep a reserve for this, especially when they have collectively spend less than 5000 cr. in the last five years from such a fund? What’s the point?
Other stuff: Rs. 200,000 cr.
This contains items like unrealized gains on Government bonds and foreign bonds
Again, this should be a profit but is not recorded as one just so that they can avoid having to pay the government. (One simple way to record it is to sell all the bonds and buy them back instantly, converting all the unrealized gains to realised profit)
In total, the RBI has a Rs. 13.5 lakh crores of extra profit (retained earnings of sorts) on its balance sheet. Every year, it generates a large profit and just keeps a good portion in each of these sub clauses, and avoids paying the government. In a partial correction, last year, they discovered that the excess on the balance sheet was too large, and paid out Rs. 1.76 lakh crores as dividend, but it still leaves a huge amount of room for more.
You said Rs. 400,000 cr….
Yes, I’m coming to that. The RBI’s balance sheet is Rs. 47 lakh crores. The “equity” stuff on the balance sheet, which includes the “extra” stuff we talked about – is more than 13 lakh crores. That’s like 27% of their balance sheet. According to the recent Bimal Jalan committee report, the RBI should have a total buffer of about 21% – around 9.8 lakh crores. Given that they have more than 13.5 lakh crores – roughly 400,000 cr. can be given back to the government as dividend.
But what will they sell to give dividends?
Oh they don’t have to sell anything. The RBI has an account for the government. (It’s the govt’s banker). So you transfer from one account (the retained earnings) to another. That’s all. Well, what happens when the government spends the money? It goes to a bank account with some bank. So that banks account with the RBI will swell up and the government’s will reduce. The RBI balance sheet doesn’t change – only the constituents do.
Wait. Why all this now?
Let’s get serious. This is a massive economic blow for the country. We will easily lose over 4% of GDP just to the lack of activity for a month. This has to be made up by massive government spending. That spending has to be financed. Already, the highest expenditure of the govt is interest payments. (Over 5 lakh crores in interest. The next highest entry, defence spending, is 40% lower!) The government may still need to borrow but why should it borrow when the RBI, which is owned by the government, has all the bloat sitting inside it? That’s like saying I have a lot of fixed deposits but let me go borrow money instead to pay for my urgent medical bills, even though I’m reeling under interest payments. The country needs help. We need to relax the ridiculously huge buffers maintained by the RBI in order for the government to spend. The RBI could pay a lot more – but this year, a 400,000 cr. payment looks very achievable without stepping on some toes. I’m not even asking for the government to eat into RBI’s already created massive reserves. Just that they take what profit would have been generated in this one year, instead of allowing RBI to bloat what is already much larger retained profits than required. Remember, most central banks have much lower retained equity as a percentage of their balance sheet. RBI is at 23% currently. Brazil is at 1%, Russia at 13%, South Africa at 1% and the closest perhaps is Germany at 13%. India’s RBI has simply way too much in terms of retained earnings and buffers. In the times of a crisis, you have to use buffers. This is a crisis. This is what a buffer was meant for. I know that a vast crowd will cry tears about how this undermines the independence of the RBI or some such random spiel, but this is not a time to listen to them. It’s time for us to place money in the hands of those that will shoulder the burden, and to not let it lie in forever-unused buffers like within the RBI. Note: What about inflation, you might ask. There will be no inflation by this; none of the above will cause balance sheet expansion of the RBI. And btw, the whole world is inflating and doing so heavily. And they’re all going to support their own countries with specific packages. In that context, there is very little likelihood of any inflation – in fact we’ll have to fight deflation in a slowdown.
https://www.capitalmind.in/2020/04/how-the-government-can-get-400000-cr-to-fight-the-covid-slowdown/
submitted by tor17no to IndiaInvestments [link] [comments]

Tips From A Lifer

I’ve been reading these posts on an off for quite some time now and it saddened me to see someone had recently posted their “I quit the game” statement. We all walk through fire to stand in the green valley...and the journey has to be made on foot. And alone. And it’s tough.
In response, I wanted to add a list of pointers for people starting out in this insane game and to address what I’ve learned from over a decade of trading Forex. It’s long-ish but it’s based on reality and not a bunch of meaningless retail junk systems and “insider knowledge” by nitwits on YouTube or some 19-year old “whiz kid” who apparently makes ten billion dollars a week with a mystical set-up that’ll only cost you $1,999 to buy!
I became a profitable trader by keeping everything simple. I lost thousands when I started out, but I look back now and realise how easily I could’ve avoided those losses.
Keep Everything Simple.
For the sake of disclosure, I worked for Morgan Stanley for over a decade in fixed income but learned almost everything I know from the forex guys whom I got to know as good friends. They make markets but there’s still a lot to learn from them as a small fry trader. I got into all this as a hobby after annoying the traders with questions, and all these years later it still pays me. There are still occasional nightmare accidents but they’re far rarer to the point where they don’t affect my ROI.
Possibly the most clear statement I could make about Forex trading in the large institutional setting is actually a pretty profound one: Forex traders are not what you think they are: every single forex trader I ever worked with (and who lasted the test of time) had the exact same set of personality traits: 1. NOT ONE of them was a gung-ho high-five loudmouth, 2. Every single one of them analysed their mistakes to the point of obsession, 3. They were bookish and not jocks, 4. They had the humility to admit that many early errors were the result of piss-poor planning. The loudmouths last a year and are gone.
Guys who last 5, 10, 20 years in a major finance house on the trading floor are nothing like the absurd 1980s Hollywood images you see on your tv; they’re the perfect opposite of that stereotype. The absolute best I ever met was a studious Irish-Catholic guy from Boston who was conscientious, helpful, calm, and utterly committed to one thing: learning from every single error of judgement. To quote him: “Losing teaches you far more than winning”.
Enough of that. These points are deliberately broad. Here goes:
  1. Know The Pairs. It amazes me to see countless small account traders speak as though “systems” work across all pairs. They don’t. Trading GBP/CHF is an entirely different beast to trading CHF/JPY. If you don’t know the innate properties of the CHF market or the JPY or the interplay between the AUD and NZD etc then leave them alone until you do. —There’s no rush— Don’t trade pairs until you are clear on what drives ‘commodity currencies’, or what goes on behind currencies which are easily manipulated, or currencies which simply tend to range for months on end instead of having clear trends. Every pair has its own benefits and drawbacks. Google “Tips on trading the JPY” etc etc etc and get to know the personality of these currencies. They’re just products like any other....Would you buy a Honda without knowing a single thing about the brand or its engine or its durability? So why trade a currency you know nothing about?
  2. Indicators are only telling you what you should be able to see in front of you: PRICE AND MARKET STRUCTURE. Take everything off your charts and simply ask one question: What do I see happening right here and right now? What time frame do I see it on? If you can’t spot a simple consolidation, an uptrend, or a downtrend on a quick high-versus-low time frame scan then no indicator on the planet will help you.
  3. Do you know why momentum indicators work on clear trends but are often a complete disaster on ranges? If not, why not? Do you know why such indicators are losing you tons of trades on low TFs? Do you actually understand the simple mathematics of any indicator? If the answer to these questions is “no” then why are you using these things and piling on indicator after indicator after indicator until you have some psychedelic disco on your screen that looks like an intergalactic dogfight in Star Wars? Keep it simple. Know thy indicator.
  4. Risk:Reward Addiction. The greatest profit killer. So you set up your stops and limits at 1:1.5 or whatever and say “That’s me done” only to come back and see that your limit was missed by a soul-crushing 5 pips before reversing trend to cost you $100, $200, $1000. So you say “Ah but the system is fine”. Guys...this isn’t poker; it doesn’t have to be a zero sum game. Get over your 1:1.5 addiction —The Market Does Not Owe You 50 Pips— Which leads to the next point which, frankly, is what has allowed me to make money consistently for my entire trading life...
  5. YOU WILL NEVER GO BROKE TAKING A PROFIT. So you want to take that 50-pip profit in two hours because some analyst says it’ll happen or because your trend lines say it has to happen. You set your 1:1.5 order. “I’ll check where I’m at in an hour” you say. An hour later you see you’re up 18 pips and you feel you’re owed more by now. “If I close this trade now I could be missing out on a stack”. So what?! Here’s an example: I trade in sterling. I was watching GBP climb against it’s post-GDP flop report and once I was up £157 I thought “This is going to start bouncing off resistance all morning and I don’t need the hassle of riding the rollercoaster all day long”. So I closed it, took the £157, went to make breakfast. Came back shortly afterwards and looked at the chart and saw that I could’ve made about £550 if I’d trusted myself. Do I care? Absolutely not...in fact it usually makes me laugh. So I enter another trade, make another quick £40, then another £95. Almost £300 in less than 45 mins and I’m supposed to cry over the £250 I “missed out on”?
£300 in less than an hour for doing nothing more than waiting for some volatility then tapping a keyboard. It’s almost a sin to make money that easily and I don’t “deserve” any of it. Shut off the laptop. Go out for the day.
Does the following sound familiar? “Okay I’m almost at my take-profit...almost!.....almost!....okay it’s bouncing away from me but it’ll come back. Come back, damnit!! Jesus come back to my limit! Ah for F**k’s sakes!! This is complete crap; that trade was almost done! This is rigged! This is worse than poker! This is total BS!!”
So when you were 50% or 75% toward your goal and could see the trade slipping away why wasn’t $100 or $200 enough? You need more than that?...really?!
So point 6:
  1. Tomorrow Is Another Day. Lordy Lordy, you only made $186 all day. What a disaster! Did you lose anything? Nope. Will the market be open again tomorrow? Yep. Does London open in just four hours? Yep. Is the NOK/SGD/EUR whatever still looking shitty? Yep. So let it go- there are endless THOUSANDS of trades you can make in your lifetime and you need to let a small gain be seen for what it is: ANOTHER BEAUTIFUL PROFIT.
Four or five solid but small profits in a day = One Large Profit. I don’t care how I make it, I don’t care if it’s ten lots of £20, I don’t care if I make the lot in a single trade in 30 seconds either. And once I have a nice sum I switch the computer off and leave it the Fk alone. I don’t care if Brexit is due to detonate the pound or if some Fed guy is going to crap all over the USD in his speech; I’ve made my money and I’m out for the day. There will be other speeches, other detonations.
I could get into the entire process by which I trade but it’s aggravatingly basic trend-following mostly based on fundamentals. Losing in this business really does boil down to the same appalling combination of traits that kill most traders: Greed, Impatience, Addiction. Do I trade every day? Absolutely not; if there’s nothing with higher probability trades then I just leave it alone. When I hit my target I’m out for the day- the market doesn’t give a crap about me and I don’t give a crap about the market, if you see my meaning.
I played poker semi-professionally for two years and it’s absolutely soul-destroying to be “cold decked” for a whole week. But every player has to experience it in order to lose the arrogance and the bravado; losing is fine as long as you learn from it. One day you’ll be in a position to fold pocket Kings because you’ll know you’re dead in the water. The currency markets are exactly the same in that one regard: if you learn from the past you’ll know when it’s time to get out of that stupid trade or that stupid “system” that sounded so great when you had a demo account.
Bank a profit. Keep your charts simple. Know the pairs. Be patient. Touch nothing till you understand it inside out.
And if you’re not enjoying the game....STOP PLAYING.
[if people find this helpful I might post a thread on the best books I’ve studied from and why most forex books are utterly repetitious bullshit].
Peace.
submitted by Dave-1066 to Forex [link] [comments]

Can you help me to identify a good career to support myself whilst I commit my youth to training to attempt to become a professional boxer?

I realise this is a really long post, there is a TL, DR at the bottom for those that are not interested in the details of my life.

So firstly, some context about me - if you're interested:

Disclaimer: I'm really sorry if I sound incredibly arrogant here, but the truth is I can't be as 'intelligent' as I think I am if I have made as many mistakes as I have in my past to end up where I currently am - just take it as though I’m selling myself for a job interview.
I would consider myself to be the absolute definition of a neurodiverse generalist-specialist - in fact when I was 16 (I'm currently 20) my psychology teacher would always refer to me as the "master of all trades" (and despite as flattering as that was, there was obviously an element of hyperbole there). I am fairly autonomous; however, I am also a neophile (and my theory is that this element of myself is the biggest reason for why I am the way that I am). I am either incredibly hyper focused or completely distracted - however I have been working on developing an element of moderation to these two extremes of my character. Just to clarify though, I don't consider myself 'good at everything' - I'm actually usually the WORST at a lot of things when I first begin, and in all honesty the only thing a lot of people I know would say I'm genuinely naturally 'good at' is learning (which I really, really have come to appreciate over the years) - but I wouldn't say I have any 'innate talents' or any 'elite endowments'. For example: I'm not the best at Maths, I don't have a gift for music, I can't speak multiple languages, and I'm not the fastest or the strongest - BUT, despite whatever disadvantages I have, I have always had the supreme confidence that if I really try, and if I really dedicate myself I can reach the top ~5% of most things. In other words, I can at least do the things that don't require talent that will close the gap between myself and those at the most elite level of a particular discipline. I know this isn't unique to me, however it is something that I have had a good comprehension of since I was very young.
However, the super-power I discovered is this: if I can reach the top ~5% of most disciplines, then I have the LARGEST advantage in the most multi-disciplinary subjects. The more versatility, variety, and integration a subject requires - the higher and higher I have noticed my potential to be within it (and I will relate this to boxing soon).
To vaguely illustrate the point, I spend A LOT of time researching very high level multi-disciplinary subjects such as Bio-Chemistry and Physiology; Neuroscience and its connections to computation, reality, consciousness, and the practical applications of novel cognitive and neural strategies in sports and the acquisition of new 'abilities/skill'; Data science, artificial intelligence, human history, neurobiology, and systems engineering and how they could shape a society better fit for humans, their needs, desires, and purpose etc. etc. etc.
I have been employed since the age of 13 and have grew up in a poor part of inner-city Birmingham, UK, from birth. My parents are 'un-skilled labourers' however have had to care for my disabled brother since before I was born, and their opportunities to progress their material conditions were, and still can be, incredibly limited; for these reasons my parents are unable to give me more support than they already do (I appreciate and love my parents a lot; they give me shelter rent free, and are always supportive of me and my ambitions). I've also always worked 'low-skilled', poor rate of pay jobs that require a lot of time investment in order to change my material circumstances: Hair salon cleaner, Fish and Chip shop, Go-kart track race Marshall, and currently I am an apprentice mechanic (21 months into the 36months required to fully qualify) - I also sold weed for some supplemental income when I was 17/18 but those days are behind me.

The 'problem' though, is this:

Despite my attraction to 'novelty' and my history of what appears to be 'commitment issues' - I've finally settled on a path that I am willing to commit my entire youth towards - but I am unable to support myself financially (and therefore at-all) if I am to make the sacrifices I need to make to be serious about this lifestyle. The main problem is time, and the second is money (go figure!).
So essentially, where I'd like to be right now is: spending approximately up to 7 hours a day training (preferably most of that time in the mornings), AND saving enough money to where I have options 5-7 years from now if my efforts unfortunately do not pay off. At this point you can see why I'm having difficulty... I'm pretty sure that it's literally everyone's goal ever to earn enough money to depend on, in a minimal amount of time- however I don't need to earn a lot - just whatever is sustainable for the next 5-7 years... as long as I am able to pay for my abstract needs, with some disposable income I will be happy. THE ONLY OTHER CRITERIA is that it just can't be something monotonous. I'm here because I'd still like to develop a career suited for my skills alongside boxing if possible - but if the best case scenario is that I have to just work a minimum wage job for now, it has to be something that allows me to progress into more meaningful work that is more intellectually stimulating. Basically, a part-time job in a field that I’m interested in, where there is a very real possibility of me attaining more skilled and better paying roles.

What makes all of this complicated (sort of):

Due to a lack of personal responsibility, and a past struggle with depression I dropped out of my tertiary education (the step before getting a degree) before I received any qualifications. I do have a very, very exceptional set of secondary education qualifications - but those are only good for FURTHER education and aren't really beneficial when trying to gain employment - at least if I already had some tertiary education qualification(s) it would open up some doors to a set of slightly higher paying jobs that would (with an assumed degree of flexibility) at least enable me to work less hours and be closer to my ideal situation. I'm slightly adverse to going back into education for now, only because it will reduce the amount of time to generate some capital and train at the same time. I actually really would love to go to University (for something like Physiology with Neuroscience), but I don't want to slow down my current progress in Boxing - as time is of the essence and I will reach my biological prime fairly soon. I am fairly certain that whether my boxing career takes off or not, I will almost certainly end up going to university at a later point in my life, just because I genuinely have an interest in attaining a degree, however, as I already stated, I currently do not possess the qualifications to be accepted into University - and gaining those qualifications would also set me back in my boxing progression further.
DESPITE THIS, I would be willing to complete a degree apprenticeship (so long as it’s in a field I'd consider a degree in), because I will be able to save money and sort out my finances from now, and only have to slow down my training for the next 3 years (and in all honesty that's at a push) until I'm able to (hopefully) establish a better work-life balance to, again, attain my ideal situation.
At this point, I’m expecting to receive replies that will tell me to continue with my apprenticeship - especially because of the fact that I'm more than halfway through - however I will throw some spanners in the works (lol). I am already on a wage that would just about be in that range where I am able to pay for my abstract needs, with some disposable income (which is actually less than NMW here because it's an apprenticeship) - however I have gotten into debt because for the first year I was on an even lower rate of pay that was just not sustainable to meet my needs and therefore I made the sacrifice to accrue some debt, thinking it would be a worthwhile investment. Furthermore I must (and have been) buy(ing) an adequate collection of tools before my apprenticeship ends to retain employment - and tools are not cheap so this further reduces my take home pay (and will continue to do so for the duration of the apprenticeship). Not only that, but once I finish the apprenticeship, I would not like to continue my 40-hour work week - nor would I choose to stay on with my employer.
Despite this, there is good potential to be more autonomous and flexible, and earn quite a lot of money by being a self-employed mechanic - but the amount of money I will have to spend to acquire the tools and facilities required to be a profitable mechanic will take me some time, further delaying my progress in boxing. Furthermore, it would be great if I had the knowledge and experience to be a self-employed mechanic, but attaining the qualification is the sole purpose of the apprenticeship - not becoming a good mechanic; I only work on newer models of a certain brand and therefore my exposure to different configurations of mechanisms, and diagnosis and rectification of different issues is limited also, which will make it difficult to have a large enough volume of potential customers to be worthwhile, unless I spend additional time in a 'backstreet' garage. I did have the thought of applying to a 'backstreet' garage and gaining these experiences and knowledge NOW, so that when I do finish, I could potentially have an easier start becoming self-employed - however I have sacrificed the amount of time that I spent being active before and this is what led me to my previous stage of being deeply depressed, and I do not want to make that same mistake again - athletic development really is my self-designated purpose in life.
Disclaimer: Obviously I don’t NEED to train extensive hours every day for my mental health - but I DO need to make sure that I do not reach the age of 30/40 with regret wondering what could have been if I was courageous enough to risk it all- that's literally it. I just won't be able to live with myself if I don't at least do everything I can to try to succeed whilst I still have the opportunity. Once I’m beyond my prime, I can deal with spending my time differently, but I wake up with a sense of urgency towards becoming the most athletically developed as I possibly can every morning.
I've thought about doing something like Forex or content creation - but I don’t think it's very smart to invest both my plan A and B in risky 'gig economy' style careers. I've also thought about having a career within boxing - however I don't know of any good opportunities other than competing and I'm scared anything else will kill my passion for my desire to compete also. A possibility that I have just recently began playing with though, is to begin creating an online boxing profile for myself on various social media websites - to share high quality videos of my training and performance in the hopes that I may gain a following that will enable me to gain sponsorship(s) of some sort. The only reason I hadn't done this sooner is because I have only just started to attain a level of skill and ability that I feel is 'rare' - I still have so much to work on, and this is my point, that I have no time to waste. A lot of guys will just throw themselves out there too early but, as some of my greatest idols, I follow the philosophy of Mike Tyson and Cus D’Amato - Amateurs should take their time before they start competing (I am only just about to start competing in amateurs, but coronavirus lol) because we want to dominate, and not compete. I know it may seem silly to be so, so, so focused on Boxing as a career - especially when I am not that 'tried and tested' but I know I can't just give up because I haven't yet proved myself to other people.
If you've made it this far, I am incredibly impressed by your ability to focus your attention on someone else's self-absorbed first world problems for this long - and I am incredibly thankful that you continued despite my lack of concision and the horrible formatting of this huge boring wall of text. <3 What would your advise be for me?

TL, DR:

I have a good history of low-skill employment; (In my opinion) I'm under-qualified for my level of 'intellectual capability' (through no faults other than my own), and I feel like I am already prepared for a higher-skill job - so long as I was given the opportunity to prove my ability - however I am a choosing beggar in the sense that I am trying to create a great work-life balance despite my large demands as to what constitutes 'life'; despite this I'm willing to live frugally for a while in order to make my dream a reality - but do need some disposable income to pay off some debts I have accrued and also to prepare myself financially just in-case I am unable to make my dream of becoming a professional boxer a reality once all is said and done.
Therefore, with these circumstances what do you think is the best course of action to reach my ideal situation of: working part-time for (up to) 30 hours a week to begin building a career that will not feel like a form of mental torture due to the monotony of - and one that has good potential to increase earnings without increasing my commitments to work (mainly time) - something that pays me because of the extra value I can provide (funny how hard this seems - not sure if this says something about me hahaha). I have interests in all the sciences (mainly life science, but the STEM and Natural sciences are good too), public health, using tools (as long as they're not as expensive as a mechanic's hahaha), and anything that allows me to be more autonomous and learn about novel things - or at least contribute to the development of knowledge.
The only thing I know is that I DO need to make sure that I do not reach the age of 30/40 with regret wondering what could have been if I was courageous enough to risk it all- that's literally it. I just won't be able to live with myself if I don't at least do everything I can to try to succeed whilst I still have the opportunity. Once I’m beyond my prime, I can deal with spending my time differently, but I wake up with a sense of urgency towards becoming one of the best boxers the world has ever seen.
Edit: It's funny how one of the first things I mentioned is that I'm a 'generalist-specialist'... and then this whole post is about spreading myself too thin hahaha.
submitted by OnePrettyFlyWhiteGuy to careerguidance [link] [comments]

My experience with forex signals!


Hi my name is D and I have used multiple forex signal providers in the past and I would like to share my experience with the community in the hopes of warning others to wisely pick a signal provider and not burn their hard earned money like I did. ( I know this post is long but please give it a read before you start trading with any signal providers.)
So what made me start following signal providers? I had friends who were trading the forex market by themselves and making profits. I wanted to be like them however I was too impatient. I did not have the confidence to enter trades based on my own analysts as I was still in the learning stages but I still wanted to make some money from forex.
I started my search on instagram to find my first forex signal provider. It was then that I started my year long journey of subscribing to a signal provider and then switching to another one when the previous one was not profitable. (No. I did not switch provider right after a month as I believe every trader has bad months. I had multiple accounts to enter different signals from multiple providers.) After about a year, most of my accounts were down and I told myself I had to put a stop to this senseless burning of money.
I risk 2% for every trade no matter the size of my SL and TP. SL of 20 pips with TP of 40 pips? 2%. SL of 50 pips with TP of 100 pips? 2%. My lot size will just be smaller. Every profitable trader will agree that risk management is everything and is what keeps you in the game in the long run.
Over the many months I have collated the data and managed to pinpoint the exact reasons why my accounts were in a deficit even when the signal provider will show that it was a profitable month. There will be 5 reasons that I will be covering and I hope you take note of each one because if you see a signal provider doing one or more of these, it is a huge red flag that you will not be profitable if you follow it.
  1. Every post is showing off their lavish lifestyle and saying you should quit your 9-5 job
This is a huge huge red flag that the provider is not genuine. Real traders know that forex is not some get rich quick scheme and it takes months, even years of hardwork to start seeing results. They are trying to sell you a dream that you can get rich right away just by purchasing their signal package lol. Looking back, I realise that their analysts was total crap probably because they spent most of their time flexing on their gram. Genuine traders do not have to be such a douche about things as they know the value they offer and do not have to resort to such means to get attention.
  1. Bad risk reward ratio
Risk and reward ratio is everything. If your RR is 1:2. You only need to hit take profit 33% of the time to break even. 1:3? 25%, even better. Any percentage higher and you would be making money. Some signal providers only send trades with RR of maybe 1:1, some even lower than that. This means you have to hit take profit 50% of the time to break even. That is honestly pretty hard to do. So not only do you not make money, you end up losing.
  1. Setting multiple take profits
This is the biggest scam ever and how I was so stupid to not notice it sooner annoys me. Firstly, there is nothing wrong setting multiple take profits to secure some $$ first. However these providers do it in a way that makes it seem their week was profitable while in reality it was not. So let me show you how the maths works. I found an example of one of these trades from a provider I was once subscribed to. ( I have added in the number of pips from entry to save you from the calculations)
BUY XXXXXX NOW @ 1.59650 Sl: 1.59300 (35 pips) Tp1: 1.59822 (17.2 pips) Tp2: 1.60000 (35 pips) Tp3: 1.60200 (55 pips) Tp4: 1.60600 (95 pips) Tp5: 1.61000 (135 pips)
Wow! Looks good doesn't it. Nope it is actually not. Lets break it down. For calculation purposes assume that I risked 5% of my account for the entire trade. I would have to open 5 different positions, each risking 1% of my account. No now lets assume best case scenario and all the trades hit take profit, this is how much account growth I would have in total.
Tp1: 0.49% Tp2: 1% Tp3: 1.57% Tp4: 2.71% Tp5: 3.85%
Total of 9.62%!! Wow not too bad right almost a 1:2 RR. However this is rarely (almost never) the case. In reality it does not often hit TP 5, normally TP 3 and if you are lucky TP 4. In the case of TP 3 your RR would be negative. This factored in with not knowing when to set your SL to entry and having little clue when to actually take profit as TP 4 and TP 5 is unlikely you will be left with a huge drawdown.
So now for the best part. How forex signal providers make it seem that they are profitable. Lets say this trade hits SL, never mind its just a 35 pip loss, dont sweat it. Hits TP3 ... wow! 107 pip gain!!! (17.2+35+55) What a good trade! Yup you risked 5% for a 3% gain, nice one. Now you understand how people get scammed by those forex gurus posting huge pip gains and little losses, PIP GAIN DOES NOT EQUAL PROFITABILITY DO NOT BE FOOLED
  1. Unrealistic RR
Constant signals of RR of 1:4 and higher?? Sign me up please. Yup some providers do this and once the trade is entered they tell you price looks like it is about to retrace blah blah blah and ask you to close it at 1:0.5. A well known forex signal provider still does this but no name shall be mentioned. Worst still etc. you risked 100 pips for "400pips". And the provider celebrates that you caught at least 50 pips! 50 pips is a lot if your risk is maybe 15 pips, but you risked 100? No please that was terrible.
  1. Not caring that different currencies have different pip sizes
For example GBPAUD EURUSD have completely different pip sizes, great you are 60 pips up in GBPAUD and down 45 in EURUSD, still 15 pips in profit! Nope, lets assume you opened 1 lot for each trade, you will be up $410usd for GBPAUD and down $450usd for EURUSD. It is a totaly unnecessary gamble hoping that the trades with a bigger pip value will be up. One way to "counter" this to calculate it such that each pip value is the same. Lets say you want 1 pip to be 1USD, for GBPAUD it will be a 0.145 lot size, for EURUSD 0.1.
These are the reasons why a reliable signal provider is extremely hard to find and instead of earning some money quickly you will find yourself in a hole and in the cycle of changing signal providers. I personally feel it is better to spend your money learning forex and strategies from courses provided online and eventually trade by yourself. The key in forex is patience, having a good risk to reward ratio and full faith in your strategy.
If you have made it this far, I would like to thank you for taking your time to read my first reddit post. I hope you found it informative and please leave some feedback!
Help to share this post to prevent others from being scammed by forex”gurus”!!
submitted by FX_D4N to Forex [link] [comments]

Are we underestimating the crypto market's potential?

Sometimes, the big bull run of DecembeJanuary feels like an unrealistic peak we may struggle to see again. After all, relative to prices only 10-12 months prior to that, where you could pick up a bitcoin for less than $1000, the gains seemed astronomical. It finally seemed as though crypto had entered the mainstream as the global marketcap peaked at around $830 billion. Now, of course, such highs seem so far away.
But then it got me thinking of the broader picture. That huge high in crypto, that feeling of the world fomo'ing in, only created a global crypto marketcap around the same value as one company, Amazon, with a marketcap of $824bn at the time of writing.
And now, the total marketcap value of Bitcoin, around $110bn, is worth less than one man: Jeff Bezos.
To put it another way, even at its peak, all of crypto was worth just 3.5% of the S&P 500, which in itself is a very small percentage of the global company stock asset class.
It made me realise just how much of a drop in the ocean cryptocurrency has always been, even at its peak, particularly for a brand new asset class. We've been a part of something that appeared to be taking over the world with its hype, yet it barely scratched the surface of the global economy.
It's been without regulation, without proper custodianship and without an asset-backed ETF. Banks have been cautious about it, and a huge amount of high value trades have remained OTC. Even now, the amount of people on earth who own crypto is tiny, not to mention the the lack of serious investment from major institutions, fund managers and so on.
When you take a step back and look, you realise just how infantile the crypto asset class has been in pretty much every way. The actual amount of fiat that has entered the market, in the grand scheme of things, is laughably small.
Yes, the total crypto market volume touched the daily volume of the NYSE a few times, but we're comparing volume that was overwhelmingly crypto-to-crypto over 24 hours, to the pure fiat volume of 6.5 hours on one of dozens of stock exchanges worldwide. And that was at the very peak. Meanwhile, forex daily volume amounts to the trillions.
I used to laugh at people who post that "Wall Street Cheat Sheet" bubble chart and point an arrow to the "hope" bump prior to the bubble to claim that this is what the Dec/Jan crypto bubble was. But I'm starting to wonder if they're right. There's still so much holding cryptocurrency back as a valid asset class, and I don't even think we're close yet to having the foundations in place for it to be taken seriously.
This isn't intended to be hopium. Cryptocurrency might die off or reach ATHs like we've never seen before. I don't know.
All I do know is that in every aspect, from regulations, to institutional frameworks, to financial instruments, to adoption, to fiat volume, the progress in these areas relative to more established asset classes is less than 1%. Let's get the bare basics in first and then we'll see what cryptocurrency can do.
submitted by scpcmg to CryptoCurrency [link] [comments]

Advice on how I can get funded trading stocks?

I studied engineering at university and had a lot free time between lectures and work (not getting hangovers like I do now was great help also).
I took into forex and experienced a rollercoaster of excitement/pain. I would risk $200 and watch it turn into 2000/3000 in the one day, just to sit and let run back to $0 the very next. I would wait weeks for the perfect trade across all the major pairs, just to let this happen again.
I discontinued with forex as I realised I had a problem of not being able to collect.
Over the past 5/6 years I have been studying stocks on and of in my spare time. 1 month ago, I invested my saving and I’ve actually started to see good gains (not crazy, but good). 8 out of the 9 trades are on the winning side.
This month I have placed another 10 trades and am pretty sure that the majority of these will be on the winning side also by the end. I should add I have only been trading on the monthly time-frame leveraged ofcourse.
My question is, if I am correct that the majority of these trades will be winning by the end of this month, does this qualify me for funding? If so, how would I go about it and is there a trading account analyse software for CFDs like “Myfxbook” does for forex.
Cheers for taking the time to read folks, Hope it wasn’t too boring
submitted by Notarobot561993 to investing [link] [comments]

My experience with forex signals.

Hi my name is D and I have used multiple forex signal providers in the past and I would like to share my experience with the community in the hopes of warning others to wisely pick a signal provider and not burn their hard earned money like I did. ( I know this post is long but please give it a read before you start trading with any signal providers.)
So what made me start following signal providers? I had friends who were trading the forex market by themselves and making profits. I wanted to be like them however I was too impatient. I did not have the confidence to enter trades based on my own analysts as I was still in the learning stages but I still wanted to make some money from forex.
I started my search on instagram to find my first forex signal provider. It was then that I started my year long journey of subscribing to a signal provider and then switching to another one when the previous one was not profitable. (No. I did not switch provider right after a month as I believe every trader has bad months. I had multiple accounts to enter different signals from multiple providers.) After about a year, most of my accounts were down and I told myself I had to put a stop to this senseless burning of money. Today , I am proud to say that I am able to trade by myself profitably.
I risk 2% for every trade no matter the size of my SL and TP. SL of 20 pips with TP of 40 pips? 2%. SL of 50 pips with TP of 100 pips? 2%. My lot size will just be smaller. Every profitable trader will agree that risk management is everything and is what keeps you in the game in the long run.
Over the many months I have collated the data and managed to pinpoint the exact reasons why my accounts were in a deficit even when the signal provider will show that it was a profitable month. There will be 5 reasons that I will be covering and I hope you take note of each one because if you see a signal provider, it is a huge red flag that you will not be profitable if you follow it.
  1. Every post is showing off their lavish lifestyle and saying you should quit your 9-5 job
This is a huge huge red flag that the provider is not genuine. Real traders know that forex is not some get rich quick scheme and it takes months, even years of hardwork to start seeing results. They are trying to sell you a dream that you can get rich right away just by purchasing their signal package lol. Looking back, I realise that their analysts was total crap probably because they spent most of their time flexing on their gram. Genuine traders do not have to be such a douche about things as they know the value they offer and do not have to resort to such means to get attention.
  1. Bad risk reward ratio
Risk and reward ratio is everything. If your RR is 1:2. You only need to hit take profit 33% of the time to break even. 1:3? 25%, even better. Any percentage higher and you would be making money. Some signal providers only send trades with RR of maybe 1:1, some even lower than that. This means you have to hit take profit 50% of the time to break even. That is honestly pretty hard to do. So not only do you not make money, you end up losing.
  1. Setting multiple take profits
This is the biggest scam ever and how I was so stupid to not notice it sooner annoys me. Firstly, there is nothing wrong setting multiple take profits to secure some $$ first. However these providers do it in a way that makes it seem their week was profitable while in reality it was not. So let me show you how the maths works. I found an example of one of these trades from a provider I was once subscribed to. ( I have added in the number of pips from entry to save you from the calculations)
BUY XXXXXX NOW @ 1.59650 Sl: 1.59300 (35 pips) Tp1: 1.59822 (17.2 pips) Tp2: 1.60000 (35 pips) Tp3: 1.60200 (55 pips) Tp4: 1.60600 (95 pips) Tp5: 1.61000 (135 pips)
Wow! Looks good doesn't it. Nope it is actually not. Lets break it down. For calculation purposes assume that I risked 5% of my account for the entire trade. I would have to open 5 different positions, each risking 1% of my account. No now lets assume best case scenario and all the trades hit take profit, this is how much account growth I would have in total.
Tp1: 0.49% Tp2: 1% Tp3: 1.57% Tp4: 2.71% Tp5: 3.85%
Total of 9.62%!! Wow not too bad right almost a 1:2 RR. However this is rarely (almost ever) the case. In reality it does not often hit TP 5, normally TP 3 and if you are lucky TP 4. In the case of TP 3 your RR would be negative. This factored in with not knowing when to set your SL to entry and having little clue when to actually take profit as TP 4 and TP 5 is highly you will be left with a huge drawdown.
So now for the best part. How forex signal providers make it seem that they are profitable. Lets say this trade hits SL, never mind its just a 35 pip loss, dont sweat it. Hits TP3 ... wow! 107 pip gain!!! (17.2+35+55) What a good trade! Yup you risked 5% for a 3% gain, nice one. Now you understand how people get scammed by those forex gurus posting huge pip gains and little losses, PIP GAIN DOES NOT EQUAL PROFITABILITY DO NOT BE FOOLED
  1. Unrealistic RR
Constant signals of RR of 1:4 and higher?? Sign me up please. Yup some providers do this and once the trade is entered they tell you price looks like it is about to retrace blah blah blah and ask you to close it at 1:0.5. A well known forex signal provider still does this but no name shall be mentioned. Worst still etc. you risked 100 pips for "400pips". And the provider celebrates that you caught at least 50 pips! 50 pips is a lot if your risk is maybe 15 pips, but you risked 100? No please that was terrible.
  1. Not caring that different currencies have different pip sizes
For example GBPAUD EURUSD have completely different pip sizes, great you are 60 pips up in GBPAUD and down 45 in EURUSD, still 15 pips in profit! Nope, lets assume you opened 1 lot for each trade, you will be up $410usd for GBPAUD and down $450usd for EURUSD. It is a totaly unnecessary gamble hoping that the trades with a bigger pip value will be up. One way to "counter" this to calculate it such that each pip value is the same. Lets say you want 1 pip to be 1USD, for GBPAUD it will be a 0.145 lot size, for EURUSD 0.1.
These are the reasons why a reliable signal provider is extremely hard to find and instead of earning some money quickly you will find yourself in a hole and in the cycle of changing signal providers. I personally feel it is better to spend your money learning forex and strategies from courses provided online and eventually trade by yourself. The key in forex is patience, having a good risk to reward ratio and full faith in your strategy.
If you have made it this far, I would like to thank you for taking your time to read my first reddit post. I hope you found it informative and please leave some feedback!
submitted by FX_D4N to u/FX_D4N [link] [comments]

[ECON] 2022 People's Bank of China Statement

Press Conference with the Governor of the People's Bank of China 任中国人民银行行长 Yi Gang 易纲 on current monetary and regulatory matters in the People's Republic of China for the year 2022
Dear Ladies and Gentlemen
The People's Bank of China (PBOC) is gladdened to announce that the efforts made by the Bank to consolidate financial markets and reign in unproductive credit and the misappropriation in debt lending are seeing bountiful returns. For the 2022 year forecast, we are thus heartened to state that the economy has exponentially preformed to bring growth above 7 percent, beating negative analysis on efforts on the PBOC and government's meaningful reforms to address core structural issues that have threatened the Chinese and global economy.
While we have identified specific measures in relation to consumer demand and business growth, in conjunction with the improving regulatory framework, we foresee promising inflationary movement and are pleased to see an adaptive labour market take hold in overall trends for key benchmarks.
In regards to the current developments in the Banks's stimulus efforts, we shall maintain the current level of market guidance and capital assistance. While we continue this approach, we are constantly assessing the Mainland's capital markets liquidity and should concerns be spotted that identify general overheating, the PBOC is ready to address those concerns and enforce targeted measures.
Now, onto the main elements of the year's statement: the current status on the internationalisation of the Renminbi and policy responses to optimise a favourable environment as well as new guidelines on capital market
The following discussion shall be complimented with the following handout:

The Renminbi - The People's Currency, and Soon the World's?

The Continued Dollar Dominance
Chinese Efforts to Open Up the Renminbi - An Uneven Effort
Making The Cross Across the Riverbed Towards A More Global Renminbi
The PBOC has issued the following in its Guiding Measures to the Chinese Mainland and SAR financial markets:
This new rule will further buoy the offshore Renminbi (“Dim Sum”) bond market and accelerate the pace of Renminbi internationalisation.
submitted by Relativity_One to GlobalPowers [link] [comments]

1.5 Months In: 6300 Views, 50 Subscribers (Write-Up)

On the 24th January 2018 I published my first blog post. Inspired by a few on here, I decided to tell the story of my first 1.5 months.
My blog is about trading financial markets (stocks, forex, crypto), as this is my full-time job. I wouldn't say that it's an oversaturated niche, but it certainly isn't empty. I have somewhat of a sub-niche, in that I have a maths degree and am known for being very statistics oriented.
Statistics:
Backend Stuff:
Content Generation:
This is the base of the blogging pyramid for me. If you don't have content, you don't have blog. Here is how I generate ideas:
Traffic Generation
Subscription Generation:
Going Forward:
I will probably do another update in a couple of months.
For now, I'm really happy with how it is going. My main takeaway is that I have discovered how cathartic writing can be, in amongst my incredibly stressful job. I hope you enjoyed the write-up! Feel free to ask any questions and any critiques!
submitted by EvreuxFX to Blogging [link] [comments]

Crypto Story Time

Evening all,
 
Slightly different flavour here, which I hope will be insightful to those who take the time to read. Tonight I'm going to talk about my learnings in this market so far; my biggest mistakes; how you can avoid making them yourself; and the strategy I intend to follow from now on. It’s a long old read, but it contains months worth of knowledge, which could only be gained from first-hand experience. So pour yourself a drink, settle in, and let me take you through a brief history of my first two months in crypto.
 

TL;DR: Been in crypto 2 months, after years trading forex. Learnt a lot, and passing on the knowledge. Hope it helps some of you to become better investors.

 

CHAPTER 1: New market; new opportunity

 
I came into crypto with a real excitement. Finally a market that resonates with me. The ability to buy into something I believe in - something that could change the world for the better - and to make money along the way. I was excited that I could apply my trading background, something that not many in the market possess, to my advantage. I was excited at the prospect of being on the curve of early adoption, in a market that had demonstrably meteoric potential. But I was patient. I knew that I would be risking a substantial amount of money in this space, and potentially other peoples’ too, so I had to approach it sensibly. I was going to invest (hold long-term) the vast majority and day trade just a small portion. I spent many weeks researching before considering pulling the trigger even once. I didn’t come into this without a plan. But looking back on it now, it really was only scratching the surface on what a serious investment strategy should be.
 

CHAPTER 2: Early Strategy

 
In brief, my plan was to research a load of coins that I’d heard have good potential – solid projects which make unique & warranted use of blockchain technology; are disruptive to their industry; are developed by a competent & active team; and are backed by a loyal community. I shortlisted maybe 40 coins through articles, videos and general conversation, and I added them to my watchlist. Admittedly I became a bit lax in completing the deep level of research I told myself I’d do for each – scrutinizing the whitepaper became skimming the whitepaper, which then became watching a video analysis, which then became “oh that sounds interesting I’ll keep an eye on it”. But this was just a watchlist. And still an educated one.
 
I knew that I wanted to wait for an inevitable dip in Bitcoin’s value to enter the market, but it just wasn’t coming. $6k, $8k, $10k… the bullish momentum couldn’t be tamed. Was I missing out? Was Bitcoin going to continue its parabolic move while I sit here waiting for a dip that could never come?
 

LEARNING 1: There are an unlimited number of opportunities

 
At this stage I was ready to get involved, and I’d scouted a few alt coins that had good technical entry points approaching. Do I need to keep waiting for a good Bitcoin price even when there’s a good alt price? In short, if you’re confident enough about a trade, it doesn’t really matter what price you pay to get the BTC (or other major alt coin) needed to trade it, as long as you believe that your trade will outweigh any potential drop in Bitcoin’s value. If your trade goes up 100% and BTC’s value drops 50%, at that point you’re break even. Plus if you keep holding and BTC returns back to its previous value, now you’re in 100% profit. For me this meant that even after buying some Bitcoin at its ATH (all-time high) and having it correct over 40%, I was still in profit, because this particular trade was up over 100%. More on this later.
 
So I bought some Bitcoin! Not all at once – generally a decent strategy is called dollar-cost averaging. In essence, buying a little bit every week at whatever the price at the time is, so that your entry price averages out over time. A better strategy is to only buy if it’s at a good price, or when you need it for a trade setup – not just arbitrarily every week even if the price is high. But I digress, I had some Bitcoin now and I wanted to diversify. Time to buy some alts.
 

LEARNING 2: Every trade is a decision to have the coin you’re buying instead of the coin you’re using to buy it

 
If an alt coin is gaining value against Bitcoin, it’s better to be holding that alt coin than Bitcoin. And if it’s losing value against Bitcoin, you’d be better off keeping it as BTC. Simple, but easy to forget when you load up Coinmarketcap and see all of the price changes in USD. You’ve gone up by 4% today – great! But BTC went up 10%, so you’d have been better off holding BTC. Buying a coin is an active decision that you make to hold the coin you’re buying instead of the coin you’re selling for it, for the period of time until you close that position. So if I buy 1000 XEM using BTC, that XEM/BTC trade is me saying “I think that XEM will increase in value at a greater rate than BTC will”. If both of them increase in value but BTC does it faster, that was a sub-optimal decision.
 

LEARNING 3: Satoshis are your friend. Accumulate as many of them as possible

 
So how does one measure profit on a trade? It’s intuitive to think of it in fiat terms – how many £££ did I make? Something tangible. But really everything should be measured in the smallest unit of Bitcoin (1 satoshi = 0.00000001 BTC). It’s easier to migrate to this way of thinking if you think of your total investment as the total amount of BTC (or the other major alt coin) that you were able to buy with it. Say I invested £1000 in crypto, and with that I managed to buy 0.1 BTC – that’s my total investment. If I want to diversify and put 10% of that into each of my favourite alt coins, I’d buy 0.01 BTC worth of each of them. Let’s say Litecoin was one of them and I got 1 LTC for my 0.01 BTC. Litecoin’s rocket then fuelled up and started on its journey to the moon, and I decide to bank my profit. I now trade it back for 0.015 BTC. From 0.01 BTC to 0.015 BTC is a profit of 0.005 BTC, or 500,000 satoshis!
 
“But why not just measure it in £££ - that’s far less complicated?!”
 
Well here’s the kicker. Let’s say Bitcoin’s value plummeted over the course of that trade. I’ve got more BTC, but because the value of each one decreased, I may still have lost money. So does that mean that trade was a bad decision? Not at all. That trade was a decision between BTC and LTC, and you made the right call. LTC held its value better than BTC did, so you would have lost more if you didn’t take the trade. Profit measured in satoshis allows you to strip away the financial layer and answer the most important question – “was it a good decision to make that trade?” A gain in satoshis is always a win. A gain in £££ is not.
 
Taking that same scenario in which I’ve got an equal amount of my 10 favourite alt coins. Let’s say 9 out of 10 of them stay at exactly the same value, but the other one shoots to the moon on a lambo all the way to 100%. Woohoo! Shame that was only 1/10 of my portfolio - overall it’s worth 10% more now – but if I’d have invested all my money in that one coin I’d be up 100% overall. Now I’m certainly not advocating putting all your eggs in one basket. Rather, in reference to my previous learning, this helped me realised another very important point.
 

LEARNING 4: Understanding opportunity cost is a must

 
Any trade I make is not only a decision between the two coins I’m trading; it’s also a decision to buy that coin instead of any of the other coins I might be interested in. I have 0.1 BTC to spend and 10 alts I want to spend it on – should I just divide it equally? Not necessarily. If you’re super confident about a couple of them, but not so much on the others, spreading it equally doesn’t sound like such a good plan after all does it? Take your time analysing each trade / investment and rank them in order of confidence. In order of potential (risk:reward if you’re a trader). Invest more in the ones you’re more confident in. It’s a really basic point, but one that’s so often forgotten when there are so many exciting prospects out there. Holding a particular coin doesn’t just cost the price that you paid for it, it costs the opportunity to buy something else instead. One of the first things I learnt in trading was to cut your losers short and let your winners run. Why should crypto be any different? Even when you’re in a trade, every moment is an active decision to keep holding it instead of trading it for something else. Don’t blindly HODL hoping for a bad decision to improve, when there are better decisions you can take to re-coup that loss. Equally, don’t sell for a loss just because the value goes down. Re-analyse. Has anything changed? If every reason you had to buy it in the first place still applies, HODL. If something’s changed, including your confidence in it compared to other cryptos, consider switching it for a better opportunity.
 
So I learnt all of this in my first month – December 2017. Did I make optimal decisions all the time? Absolutely not, but with cryptos riding to all-time highs, my investors were very happy, as was I. It’s not often that you can get a 100% return on investment in just one month in a market. But it’s easy to profit in a bull market.
 

CHAPTER 3: It’s not all sunshine and lambos

 
It was around the end of December in which things started to get a bit too parabolic, and I was naturally suspicious of how long this could last. But you find yourself, inexperienced in a new market, eager to see how far you can ride the wave. The fear of missing out on further exponential gains becomes as much of a psychological challenge as taking a loss. In short, you get greedy. Highs that I had once been ecstatic with, a few days later became lows. I told my investors not to expect anything like this in future months. In my monthly summary I said “we are in perhaps the most bullish market the world has ever seen”, and I estimated that we had “a maximum of 1-2 more weeks to ride this momentum”. Prophetic, no? Well it’s easy to make predictions that come true – even a broken clock is right twice a day. What’s difficult is having enough conviction to take your own advice.
 

LEARNING 5: Make your rules and stick to them, no matter what

 
This is without a doubt the biggest thing I’ve learnt over the months. If one day you set yourself a target of £X profit – a level you’d be really happy to achieve, be that on a trade or overall – take it. Cash out as soon as you reach it and buy yourself something nice. Make it tangible. It’s easy for the world of online trading to feel gamified, but remember what you’re staking – this is real money. But it’s easier said than done. If you rise suddenly to that target I can tell you your first thought will be “whoa look at it go, I’m gonna see how much further it can get before I cash in”, rather than “mission accomplished, time to get out”. Humans are greedy. We want to take shortcuts – to our dreams, to wealth – but this isn’t a get rich quick scheme. If someone told you they could get you 10%/month gain on your savings (that triples your money every year) you’d probably bite their hand off. So why in crypto would you not be chuffed with 50%, or 20%, or 10%? Don’t move the goalposts. Decide in advance when to take profit and take it.
 
First off, it’s always a good idea to take out your initial investment at a level after which you’d be psychologically happy if the market goes down or up. For example, if I took out my initial investment (say £1000) when it went up 50% to £1500, and then the market went lunar and doubled the next month, I’d personally feel a bit annoyed at myself for not leaving more money in. That £1000 would’ve been £3000 had I kept it invested…shit. However if I took out my initial investment when it went up 200% - I’d now have £2000 left of my £3000 investment, and if it doubled the next month, I’d be happy with the stake I had remaining, not regretting my decision. That level can only be decided by you, based on your attitude towards risk. Obviously the higher that value is before you cash out your profits, the greater the risk you’re taking since it may never reach that level. Taking out your investment as soon as you’re happy to is a good move because from then on in you’re riding on pure profits. If the market were to crash to zero, you’d still be break even, so it’s much easier to detach yourself from the emotions involved (and we all know how emotional this market is). And if you’re a technical trader, rejoice at the fact that this market is hugely technical, and you can very often predict good levels to get out at – often doubled with buying back in cheaper. I highly recommend for everyone to spend some time learning to analyse charts - even at a basic level. It works. And for heaven's sake if you're day trading don't do what I did and "neglect" to apply basic trading principles like setting a stop loss and sizing each position at maximum ~1% risk. You can call it investing; you can call it speculative buying; but at the end of the day that's just gambling. Don't be lazy. Don't be wreckless. Apply what you've learnt in other markets - crypto is no different.
 
And for context, no I did not take my own advice. The correction shocked me. Not the fact that it happened, but the fact that it happened so hard and fast. At first I thought it was a healthy dip, and that the uptrend would resume soon enough – no reason to sell. But then the bears took over, and we were in a full on downwards movement. News emerged from South East Asia which caused a great deal of negative sentiment, and Bitcoin’s value tumbled (even when some of the speculation was later deemed invalid), and with that I realised how inherently linked to Bitcoin that all other cryptocurrencies are. You may dislike Bitcoin - the slow transactions; the high fees – but you can’t argue how critically important it is to this market.
 

LEARNING 6: 40+% market corrections are normal in crypto, but they still hurt

 
I neglected to mention earlier, but I have a background in trading forex. I understand market patterns, cyclicity and technical analysis such as Elliott Wave Theory and Fibonacci ratios. It is foolish to think that charts will continue indefinitely in a given direction – there will always be corrections and reversals. All through the correction we’ve started this year with, I have remained very optimistic. Nothing at all has changed to make any of the leading crypto projects less credible or via as future industry disruptors. This is why it’s important to do your own research on coins you invest in – so that you’re psychologically happy holding them long term through price corrections. But I’ll be honest, when Bitcoin broke down through several technical support levels a few days ago, I became apprehensive. Not even close to panic, or tempted to sell. After all I am investing long term, and I still see this as a requisite correction in a much larger up-trend. Or at least the upside potential of that outcome is comfortably worth the risk for me – it’s the opportunity of a lifetime. But even as an experienced trader, doubts can set in. All of the profits I had gained in month 1 were gone, and I have now slightly dipped into loss. As I say, I’m not selling, and my analysis is still very bullish. But HODLing is not always the best strategy.
 

LEARNING 7: When things are looking bearish, consider the trade to fiat

 
With the benefit of hindsight, and now having dedicated substantially more time to learning Elliot Wave Theory and studying crypto charts, there were a number of points at which you could have predicted a big ol’ correction was on the cards, before it fully developed. A quick ‘n dirty rule of thumb, for those of you who don’t know how to read charts, is: “Don’t buy into a parabolic market or at an all-time high – it’ll likely correct soon”. But I’d also like to add an addendum to what is a common mantra in the crypto community: “Buy the dip” – this is for day trading. If you’re intending to hold a coin long term, zoom right out and look at the entire coin’s price history. Wait for a macro scale correction, not a micro scale dip. A lot of people got excited the other day at Bitcoin rising 10% - I saw tonnes of calls saying “the correction is over” or “Bitcoin to the moon” – but when you zoom out, we’re still in a downtrend with room to go lower, and substantial resistance to get through before we can rise to new highs. Play the long game and look for long-term signals. And if you are in that subset of people who can predict an imminent correction, or indeed if you’re halfway through a correction with a good chance of it continuing, the best decision may well be to get out of the market until it’s over. Trade your positions back to fiat, and wait for clear recovery to the upside. It’s much more difficult to trade profitably in a down-trend. Most of us could have doubled our BTC holdings just by getting out of crypto before the correction and buying back in cheaper now. So make sure you have an exit plan. Know the steps that you’d need to take to get your money off exchanges / wallets and back into your bank account. Getting out of crypto doesn’t have to be a permanent move. There’s no harm in waiting things out until you’re confident again. After all, refer back to Learning 1 – there are always more opportunities.
 

CHAPTER 4: Moving forwards

 
At last, filled with learnings and plenty of inactive time spent refining my strategy, I’ve gone back to my technical analysis roots and really analysed why I’m in my positions.
 

LEARNING 8: Never stop analysing. You will make mistakes. Learn from them.

 
Does my portfolio need to be this diverse? Are my invested amounts proportional to my confidence in them? Probably not, so I’ve taken this opportunity to start shifting around. Don’t be precious about losses – losing is a natural part of trading – you only need one 10:1 winning trade to offset ten losing ones. So take some losses and make some mistakes. I’m sure glad I did, because it’s made me a much more confident and competent investor today.
 
And since everyone always looks around for opinions on the market, I will leave you with one bit of bullish technical insight on our King, Bitcoin. Basic Elliot Wave Theory says that markets move in ebbs and flows – 5 waves in the direction of the trend, followed by 3 waves of correction. And these waves are fractal in nature, meaning that a full 5-wave pattern forms a single larger wave within a higher degree pattern. All that being said, IF Bitcoin’s run up to its ATH in December constitutes a completed 5-wave pattern, we could consider that history as Wave 1 of a larger up-trend. Using Fibonacci extension ratios that appear in all markets (including crypto, very prominently, even with BTC), we can project the likely extensions of the Wave 3 that would come after we’re done correcting here. Based on analysis run by eSignal, a popular trading platform, the length of Wave 3 will likely reach either 1.62, 2.62 or 4.25 times the length of Wave 1. That means our Wave 3 high would take the price of a single Bitcoin to roughly $32,000, $64,000 or $98,000.
 
You can view these Elliot Wave Projections (in GBP) here
 
Technical analysis is very subjective, this is merely one possible outcome. But ask yourself, if you had the chance to invest in something with global reach that could make a 5x or even 10x return on your investment, what would you risk for that opportunity?
 
Thanks for taking the time to read, and I hope this helps some of you.
 
Happy investing, Andy
submitted by StrengthGoals to CryptoCurrency [link] [comments]

X-Post from r/Bitcoin - 40% - 50% Tax on Bitcoin Trading in the UK - is anyone else paying this?

Hi All
I posted this yesterday on Bitcoin and someone there suggested that this might be a fruitful sub to post on. I am looking for confirmation that the advice I have received is correct, or alternative approaches I could adopt. Thank you in advance for any replies.
I am posting this for two reasons, firstly, because after looking around I have not seen real information about how UK HMRC is likely to treat Bitcoin trading gains on a tax return. Most people seem to think it will be Capital Gains Tax which is not what I have been told. And secondly, although I can't do anything about it this for last year I may be able to take (some) mitigating action for this financial year and in the future, so it might help someone else. I realise that I am lucky to have made the money so I am not moaning - just sharing.
For those not in the UK, our tax year runs from 6th April 2016 - 5th April 2017. In that year, more to do with the increase in value than good trading, I made a healthy profit (£40k - £50k). I think it would probably be a good idea to pay tax, so that when I drop large amounts of cash from an overseas exchange into my account, I have some answers if anyone starts asking questions, and I don't want to wait until the HMRC get wise enough to track UK account holders bitcoin addresses in overseas exchanges. I do realise that I could put it all into Monero and keep quiet, but I would quiet like to pay off some of my mortgage.
Anyway, on to the source of my 'first world problem'. I have spoken to two pretty experienced tax advisors and they have advised me that this will be treated as Income Tax by HMRC. I have an income pretty much at the top of the 20% bracket, which means that all of the Bitcoin gains will be at 40%. Not only that, but as income I will also need to pay Class 4 NI which could be as much as 9%. In addition if you earn over £100k your personal allowance starts to go down. All of this means that I will be paying at least 40% on the gains and possibly up to 50% or higher effective rate.
I am aware that the HMRC paper from 2014 says it will treat trading like trading other currency (forex) and from this I assumed that it meant that it would be treated as capital gain tax. Both of the tax advisors I contacted said that it would clearly fall into the Income Tax definition.
Has anyone else been down this route, have your professional advisors said the same thing or something different? Advice that I should have found all this out earlier, while true, does not help much. Any feedback gratefully received. Thanks. [Tax]
submitted by Love-to-pay-tax to UKPersonalFinance [link] [comments]

Help with capital gains/losses on foreign shares

Hey all, trying to get my head around capital gains and losses on foreign shares.
How do I calculate tax on foreign shares (for my case, in the US)? I've read around the ATO website a bit, but a bit difficult to follow. It mentions forex realisations, but not sure how to apply it. I use Commsec's international trading platform, so all my money there is in US dollars, and hasn't converted yet to Australian dollars.
For example:
  1. I deposit AUD$1000 into my trading account at 1AUD=0.80USD so I receive USD$800.
  2. I then buy USD$800 worth of some share. But when I buy the shares, the exchange rate is now 1AUD=0.75USD.
  3. I sell the shares for USD$900. Now the exchange rate is 1AUD=0.70USD.
Now, I don't withdraw the USD into AUD, so it's still in USD. In the hypothetical above, how much is capital gains?
Really appreciate the help!
submitted by enrivio to AusFinance [link] [comments]

Paying 40 - 50% Tax on Bitcoin Trading in the UK - what are you going to pay?

I am posting this for two reasons, firstly, because after looking around I have not seen real information about how UK HMRC is likely to treat Bitcoin trading gains on a tax return. Most people seem to think it will be Capital Gains Tax which is not what I have been told. And secondly, although I can't do anything about it this for last year I may be able to take (some) mitigating action for this financial year and in the future, so it might help someone else. I realise that I am lucky to have made the money so I am not moaning - just sharing.
For those not in the UK, our tax year runs from 6th April 2016 - 5th April 2017. In that year, more to do with the increase in value than good trading, I made a healthy profit (£40k - £50k). I think it would probably be a good idea to pay tax, so that when I drop large amounts of cash from an overseas exchange into my account, I have some answers if anyone starts asking questions, and I don't want to wait until the HMRC get wise enough to track UK account holders bitcoin addresses in overseas exchanges. I do realise that I could put it all into Monero and keep quiet, but I would quiet like to pay off some of my mortgage.
Anyway, on to the source of my 'first world problem'. I have spoken to two pretty experienced tax advisors and they have advised me that this will be treated as Income Tax by HMRC. I have an income pretty much at the top of the 20% bracket, which means that all of the Bitcoin gains will be at 40%. Not only that, but as income I will also need to pay Class 4 NI which could be as much as 9%. In addition if you earn over £100k your personal allowance starts to go down. All of this means that I will be paying at least 40% on the gains and possibly up to 50% or higher effective rate.
I am aware that the HMRC paper from 2014 says it will treat trading like trading other currency (forex) and from this I assumed that it meant that it would be treated as capital gain tax. Both of the tax advisors I contacted said that it would clearly fall into the Income Tax definition.
Has anyone else been down this route, have your professional advisors said the same thing or something different? Advice that I should have found all this out earlier, while true, does not help much. Any feedback gratefully received. Thanks.
submitted by Love-to-pay-tax to Bitcoin [link] [comments]

xcov.com Digital Trading Platform

xcov.com Digital Trading Platform Trading platform you are a partner in it!
A new smart digital currency trading platform that shares 55% of its profits with investors in its digital currency in the ico phase Join now and be a permanent partner for Xcov.com platform
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Also they will receive 55% daily payments from Xcov.com platform’s profits , will added to their account balance , and they can withdrawal any amount anytime.
The service will have a limited number of users to maximise robot performance and profits, dependent on the number of tokens sold during the ICO. All unsold tokens will be burned.
Traders on xcov.com can start trading immediately without needing to submit their name or any identifying documents of any kind
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XCV is a token, based on the Ethereum blockchain technology. It is the core asset of the new XCOV Marketplace.
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In order to make XCV token distribution process more efficient, the XCV price will now be linked to USD:
1 XCV = 0.05 USD
Roadmap
Our Strategy and Project Plan
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The project created by traders for traders. We wanted to contribute our experience on trading in Binary Options Signals services and provide a quality product at an affordable price to help as many traders as possible.
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After months of hard work developing a real profitable and stable trading method, we finally decided to start with the trading signals. We created a web platform and an iOS/Android app that allows users to receive notifications wherever they are.
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As detailed in the Whitepaper, this stage of the ICO will be open for the sale of part of the tokens, offering an amazing bonus to reward early investors. A total of 150M XCV tokens will be available, ensuring the development of the project at this early phase, as the soft cap is reached at only $1.5M
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Here the rest of the ICO tokens will be available, also offering a varied % bonus to reward our investors. Anyone who wants to secure a slot in this service should acquire tokens before completion of this stage.
Aug 2018 (XCV Token listed on Exchanges)
One of the priorities of the team is to list XCV on multiple exchanges. Our social media will be updated as and when we have new agreements with any exchanges. We are not expecting any issues regarding listing as we have ERC20 structure common to most exchanges.
Sep 2018 (Final development of trading algorithm)
We will continue for much of 2018 in the definitive and improved development of this algorithm so that it adapts perfectly to the needs of our investors to take full advantage of cryptocurrency trading and 55% of the XCOV platform’s profits. Once this is completed, the Trading Pool will begin to produce benefits for the ICO investors.
Oct 2018 (Desktop platform and app release (BETA))
In this phase, a first version of the platform will be released, with which you can access signals generated by the algorithm. It will be a BETA phase in which users can report problems or provide improvements to the platform.
Dec 2018 (Launch Autotrading Service (BETA))
Once the web platform and applications are working correctly, the next step, following the corrected steps made in our previous service, will be to offer the Autotrading service for our Premium users.
JAN 2019 (Final Platform release)
Once several tests have been carried out, possible errors have been fixed and the improvements proposed by the contributors implemented, the final platform will be released.
Advantages
Autotrading 100% hands-free
Online platform compatible with main Cryptocurrency exchanges and Forex brokers to connect Xcov.com signals with user accounts without moving their funds.
High Leverage Futures Trading
Xcov.com offer traders very high leverage of up to 100x, allowing them to realise large percentage gains (and losses) from relatively small price movements
Blockchain Driven
Xcov.com is driven by blockchain technology.From the use of its own cryptocurrency to eliminate transaction fees
Signals Service
Lifetime access to exclusive and high quality trading signals with +85% of accuracy to trade it yourself on any broker or exchange.
Bitcoin, Ethereum, Bitcoin Cash & Litecoin Futures
The xcov.com Exchange offers futures markets on Bitcoin, Ethereum, BitcoinCash, Litecoin and alot of cryptocurrency against the US dollar
Dividends from Trading Pool
Exclusive for ICO investors! Recurrent profits simply holding tokens without adding extra funds. Already +32% gain with on the Forex BETA account.
submitted by xcovcom to u/xcovcom [link] [comments]

It's Not Just About Avoiding Porn And Posting Memes!

Hey Guys, just wanted to say a massive well done to everyone in this community whether you're on Day 0 or Day 365+. Being here and reading this post at this very moment means that you have taken a decision to improve your life. If nobody else has said this to you, I'm proud of you, well done.
One thing I've failed to see in the midst of all the posts about relapses, porn, urges, trannies, NoFap, monk mode, Gary Wilson and the list goes on, is actual self development. Which is exactly what NoFap and porn addiction recovery is. Maybe if you're here for casual use it doesn't apply to you but I'm yet to see a guy in this community who was looking for 'big booty Brazilian' and ended up in NoFap.
I wanted to make a post about resources for truly recovering from this severe issue we are all struggling with. Unfortunately, most of the resources are internet based and I know this is something a lot of people are trying to avoid, but, that doesn't mean you cant go to a library, workspace or coffee shop to enjoy them. Below this I will list some things you can use to develop yourself. It may be a bit long so feel free to skim through the headings to see if anything catches your eye.
Self Development & Self Actualization | Actualized.org :
Great Youtuber called Leo, owns a website called Actualized.org. Completely based around Self Development and becoming the highest version of yourself. I recommend starting with this video then exploring his page for others you may like. https://www.youtube.com/watch?v=JGw8IoqBt-c
Home Learning Courses (Free & Paid) | http://www.oxfordhomestudy.com :
Oxford Home Study College has began to develop a variety of short and long courses for people looking to develop their skills in a variety of areas, FROM HOME! Their courses range from Fashion Design to Business Studies to Nutrition To Internet Marketing. So you can study so much things there. If you want to go through some of the free courses to find out what you want to do if PMO made you lost in life like a lot of us. Go to the website http://www.oxfordhomestudy.com and in the search bar type in 'short course'. You will then see a list of different, free courses that they offer. No excuse of being bored or under skilled now. I understand motivation may lack during NoFap due to flatline etc but at least read through something that interests you. It's better than binge watching on Netflix and eating unhealthily.
Exercise, Fitness, Health & Nutrition | https://www.youtube.com/usesixpackshortcuts :
If you want to improve your health drastically, get in great shape, improve confidence and be overall healthy then NoFap provides you with the energy to do that. I understand that a lot of guys may have never entered a gym in their life's due to preferring to stay home and fap. Getting a gym membership and testing out a few machines is easy but I recommend doing further research into nutrition, muscle groups, effective workouts and the full run down on what it will take to build that God like body that you can imagine for yourself. In that case I recommend visiting: https://www.youtube.com/usesixpackshortcuts I use this channel quite a bit myself for workout advice, the best workouts for certain muscles, the best foods to eat, workout and dietary timing and so on. They even focus heavily on intermittent and normal fasting which have been said to have a great impact on rebooting the brain quicker in the NoFap process. Check them out.
Baby Pips (Forex Trading) https://www.babypips.com :
This one is slightly more complex and I've only just started it myself to be honest. However, theres no harm in gaining additional skills. The greatest benefit of this one is the fact that you will be learning how to make money, FROM YOUR PHONE. Trading the financial markets is something regular guys only dream of doing even though they realise the great potential for wealth in doing it. BabyPips makes it possible to learn FOR FREE, FROM HOME and IN YOUR OWN TIME! If you've got no money, this could be a great way to start making some, once you know what you're doing of course. If you've actually got a bit of money to spare and willing to learn a new way of making money then this will be a great start. You never know, this could be that kick in the direction of financial independence you've been looking for.
Self Development Books:
If you're like me and prefer the physical version of things and not looking at a screen for hours on end every day then you will probably prefer reading real life books. My recommendations which I know will be beneficial for guys on NoFap especially include:
Think & Grow Rich - Napoleon Hill Outwitting The Devil - Napoleon Hill Rich Dad, Poor Dad - Robert Kiyosaki Talk To The Hand - Lynne Truss How To Win Friends & Influence People - Dale Carnegie The 4 Hour Work Week Millionaire Fast Lane 48 Laws Of Power Emotional Intelligence The Power Of Broke
Some of these are more interesting than others but I assure you each of these books will push you forward as a person on your journey of self development. Go check them out.
Photography, Videography & Cinematography https://www.youtube.com/usepetermckinnon24 :
This one is more specialist for someone who doesn't know what they want to do, I'm just throwing this idea in for you. This channel is run by a guy names Peter McKinnon who has proved to be a successful photographer and videographer, having his own exhibitions and almost 2 Million followers on his youtube channel. Why not try picking up a completely new skill, learning something that will make you a better person and then maybe earning some good money doing this one day?
If you think this may be for you, check out his youtube channel, maybe watch a couple of videos see if theres anything you like the sound of or anything that interests you. He does video editing as well and does tutorials of different effects you can learn. I think he even has a video of how to learn an editing software in 15-20 minutes so theres a wealth of knowledge that can be found on his youtube.
Guys it took me wayyyy longer to make this post than I had originally wanted. I had just never seen a post like this on this community or any other one. People will always say recovery is not about abstinence but instead, changing your life but then only give you life changing tips related to avoiding porn. I've tried to give you life changing tips that directly change your life.
Quick visualisation. Imagine the kind of person you'd be if you did everything on this list. Self actualised, worked out, learned to trade, read books, picked up a new creative skill, ate healthy and gained new qualifications. Now thats what I call a 180 turn in the right direction. Okay we fucked up watching porn and set ourselves back but the thing with life is that its not how you start, its how you finish. How will we finish? How will we finish this year, this month, this week? If relapsing is not in the cards for you then please pick up at least one of these, it will ease the pain and make you a better version of yourself. I do honestly wish you all the best guys and I recommend sharing this post with someone who may be struggling with lack of direction in their NoFap journey because there is a void we must face in our recovery. I'm currently taking a course in fashion design and absolutely loving it for the record. Love you all. Good luck!
submitted by wetherealrockstars to NoFap [link] [comments]

Unadjusted Forex GainLoss How to Posting Tally ERP 9Forex ... How to make journal Entry for unadjusted Forex Gain/Loss ... How to use Dynamics NAV Unrealised currencies Gains and Losses Realised Gain/ Loss Unrealized Gains (Losses) on Balance Sheeet  Examples ... UNREALIZED and REALIZED Gains and Losses - YouTube Gains and Losses...Realized vs. Unrealized - The Wealth ... Forex Trading Strategy: How to Enter Winning Trades on EUR JPY and GBP JPY How is the Unrealized Gain Calculated In CurrencyXchanger? (CXR) Floating and realised profits from previous weeks forex calls

The realized gain for James by selling the car is $2,000,000 since he had not just bought the car but also invested in bringing back the car from scrap to a refurbished condition as good as new. At the time of the quote for the car, which was at $2,000,000, James had an unrealized gain. But as soon as he sold the car at $2,500,000, he had a realized gain. Advantages. When the price of the ... A realized gain is when an investment is sold for a higher price than where it was purchased. Realized gains are often subject to capital gains tax. Depending on the holding period it will be ... This means that the seller will have a realized foreign exchange gain of $100 ($1,200–$1,100). The foreign currency gain is recorded in the income section of the income statement Income Statement The Income Statement is one of a company's core financial statements that shows their profit and loss over a period of time. The profit or loss is determined by taking all revenues and subtracting ... How to Calculate Forex Gain or Loss. Compared to other financial markets the currency markets are different. Whereas for the stock investment we can say that it is just a bet that you place in a company, and a position of foreign exchange is bet on the whole currency value that is relative to other currencies. For instance, if you’re thinking that the euro will have increased value, you; won ... Financial Dimension for Realized Gain/Loss in Exchange Rates Difference. Verified. Hello M. Hasan, Please also test whether fixing a financial dimension to your exchange rate account fixes the issue. Simply open the exchange rate account, select the company in which you try to post the transaction, scroll down to the financial dimension section, enter a financial dimension vaue and select ... A difference of 0.30 CAD (Local Currency) was debited as Forex Loss and 1.56 USD (Group Currency/Local Currency2) was credited as Forex Gain To understand the posting, we need to look at the OB09 settings of the Recon Account for the customer, OB08 rates on the Customer document posting date and Clearing document posting date and calculate the Realized Gain/Loss Once the company actually sells the stock, the unrealized gain is realized. Only after the stock is sold, the transaction is completed, and the cash is collected, can the company report the income as realized income on the profit and loss statement. Example 2. Similarly, if a company owns an asset, and that asset decreases in value, then it may intuitively seem like the company incurred a loss ...

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Unadjusted Forex GainLoss How to Posting Tally ERP 9Forex ...

In this video on Unrealized Gains (Losses), here we discuss practical examples along with type of securities that result in unrealized gains or losses and we... Hi! I’m Dominique Henderson and I’m your Certified Financial Planner™ on YouTube. I’m on a mission to help coach the next generation of financial professiona... Understanding the difference between realized and unrealized can improve your investment decision making and your return over time. Bill Valentine, CFA is th... Forex gain or loss in Tally The unadjusted Forex gain or loss balance will arise due to the exchange rate fluctuations. ... Create a ledger as Forex gain or ... When it comes to Forex trading strategies, nothing can beat good old-fashioned work and experience. No B.S., hype, gimmicks, "proprietary indicators", software, Forex trading signals, or Forex robots. Accounting for Foreign Exchange Gains and Losses for Sage 300 - Duration: 3:09. Mantralogix 10,940 views. 3:09. Why Microsoft Dynamics NAV is Easy to Use - Duration: 3:48. ... Download TDL's:https://onlinebizmart.com Dear Friends, Today we are discussing about how to solve unadjusted forex gain/loss amount in tally ERP9 Steps: 1. C... This video is unavailable. Watch Queue Queue. Watch Queue Queue 95% Winning Forex Trading Formula - Beat The Market Maker📈 - Duration: 37:53. TRADE ATS Recommended for you. 37:53. Realized Gain or Loss: The Gateway Rule - Duration: 7:59. ... UNREALIZED and REALIZED Gains and Losses - Duration: 8:30. Dominique Henderson 1,155 views. 8:30 . Accounting for Foreign Exchange Gains and Losses for Sage 300 - Duration: 3:09. Mantralogix ...

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