Good Grief! :o
Damn AK these new events suck man. Kind of surprising it didnt happen here first. Can you still go off shore? I hate to see you go and understand fully about paying taxes to people trying to stop you from doing what you want to do in a āfreeā country. Not sure how your laws up there work but I am sure this has heads in washington thinking on the next way to step on the little guy for our own good. Guess we need some more forex lobbyist up there.
Wow I guess we are next in America. I looked up Canadian laws on discrimination. Turns out they are based on US law and according to what I read here its legal (somewhat). States nothing of financial status. This is the only fighting chance out there that I see. Below is quoted from
Section Fifteen of the Canadian Charter of Rights and Freedoms - Wikipedia, the free encyclopedia
"Discrimination
For discrimination to be found it must be determined if the burden or denial of benefit harms an individualās human dignity (Law v. Canada). That is, the discrimination will marginalize, ignore, or devalue an individualās sense of self-respect and self-worth.
Law suggests four ācontextual factorsā which can help guide a contextual analysis of whether the imputed distinction violates the human dignity of the claimant. None of these are determinative of discrimination, and the Court must not consider all of them in every case. This list is also not exhaustive, although the standard Law analysis has yet to develop any additional factors:
pre-existing disadvantage
correlation between the grounds of the claim and the actual needs, capacities, and circumstances
ameliorative purpose or effect of the law on more disadvantaged groups
nature and scope of interest
Jurisprudence has shown that each of these factors are weighed differently depending on the context."
I hear you and hope this does not happen here. Thats why I have played by the rules here. 50:1 leverage is plenty for me. I dont hedge so that does not affect me. Fifo would but trading 1 pair 1 direction it not hard to just cash out my old position and let the other ride (if I scale in to a trade). Therefore the laws here do not really bother me at all. But that and I am done. I am not afraid to admit my account is not that big. Yes I have dome well IMO but not that well. Makes me question the whole 95% of traders fail. If that was the case they would have no problem you giving up your cash. After all the government already got your tax dollars. But if people starting making it guess what happens. People stop working for the man and start driving the mans prices lower since we trade in how we see price. Goods are over priced. Well we cant have that. Keep the people working for the man and keep driving prices up so they cant afford not to work for the man.
Man donāt stopā¦ maybe try your hand at futures? It takes more money to have decent money/risk management but arenāt the charts the same thing? I sure hope those laws in Canada donāt make the dingbats here get any bright ideas:/
Wow bro that is ridiculous! :o I am sorry to hear that, I was looking forward to following your progress on your thread 
Hi Guys,
Look at the USDx Daily chart. There may a imminent trend reversal in the market.
Any comment/analysis will be appreciated.
Iām saw this as wellā¦ are we forming a new high this week? we will see ;D
AK after reading throughout the past few pages it seems to me that maybe your jumping the gun on your decision?
the laws in Canada might change but this is seriously no big deal! It seems that those news where crumbling your spirit for a second thereā¦
there are so many brokers, and many of them might be better than oanda ā¦
go shop for another brokerā¦ and start your search far away from continental America, to assure this new law doesnāt affect your new account before you start trading on itā¦
I am still testing out several brokers, and still not completely sure which one I will use to open my first live accountā¦
I apologize the question, but since I am fairly new to this community I might have missed your storyā¦ but Iām not really sure how you managed to lose 20k (unless you trade on a huge accountā¦)
did the drawdown happen BEFORE you utilized ICTās methods and before you had risk management in place?
in that case I would suggest the following: take a break, then go over your strategy and trading plan, find what needs to be fixed if it hasnāt been fixed alreadyā¦ then decide if you should trade on demo for a while or if your good to go back to live trading.
And I would consider if you reset your āmental balance sheetā to ā0ā rather than ā-20kā
If this drawdown happened long before you had your current system, and you believe your current system worksā¦ then thinking of your balance as -20k might be the emotional barrier thats holding you down?!
If you have a working system, even if you just had it for a few weeks, then it means you learned from the whole past which caused you drawdowns in such a large scaleā¦
IF you donāt think your current system is working, then you should really go back to basics and fix whatever is causing you these lossesā¦
I apologize my rant especially since Iām a lot less experienced than you!
But since Iām also, like everyone here, fighting to get where I want to be, it always feels like a massive blow even for me, to read about community members quittingā¦ at the end of the day itās your decision and you know best whats the right thing for youā¦
but it just seemed to me that you might be overreacting (for the lack of a better word) over the oanda-newsā¦
if thats indeed the case, then check out the hole baby pips section on this forum dedicated to brokers around the world.
keep your head up mate!
if you have the slightest hope left that you can make this work, then you should not give up easily.
not sure if this helpsā¦ but I certainly intended to!
cheers
(by the wayā¦ still flat for this weekā¦ I believe if I can be profitable in those messy economic times, I should be more than ready to trade in a more āfriendlyā environment;))
Good call on that last trade SanJ, looks like I was being a bit greedy but as Iām still a relative noob in forex Iām being overly patient and cautious for the time being by trying to catch a ride on the āextremesā on HTFs.
Sorry to hear about your woes akeakamai, hope you manage to sort out your broker situation.
Hey AK and everyone
iām using IG index in the UK, its classed as spread betting so we donāt pay tax on our winnings. It works exactly the same though. Not sure if this helps but I hope you guys overseas can use it, if not, I hope it helps the guys in the UK.
SanJ are you using spread betting? What is everyone else in the UK using?
Hi Tycoon 83
I am a very green newbie.
like you I have spread betting account in the UK. I donāt think itās spread betting is available outside of the uk because of different gambling laws.
ICT quick question in relation to your recent cable review.
My question is when or how do you determine when price at an important support or resistance level will bounce as opposed to giving up the goose. I understand the fist time we hit this level 1.6060 there is likely a bounce such as we saw on friday. But since we bounced off the level on friday I was kind of expecting the level to give way and for price to hunt the 1.5990 level but instead it bounced off the 1.6060 level again. I understand the ote and usdx divergence, but just curious if there was more. For example will price likely test a level 3 times before giving way?
PP
AK I read a great idea from bravehoststamps in the going offshore thread. Maybe consider setting up a āshelf companyā and trading through them. It will take some work and effort but it is possible. Please donāt quit. I have felt like quitting many times myself and I have taken breaks but fx always nagged me back into trading. Its not easy but in the end it will be worth it. I hope you do decide to stick it out.
As for the broker issue I can feel your pain because hf just told me to take a hike and it sucks!
Here are some links i found check them out if you are interested in going offshore. Generally speaking there is tons of valuble info here for wealth and asset protection but it is also relevent to us traders.
Offshore Banking, Financial Freedom, Asset Protection - Q Wealth Report
Sovereign Man: Offshore Business, Global Opportunities, Freedom, and Expat News
Damn , Iām sorry to hear all this Aaron. I have a bad feeling we are next in the U.S.
okay so I am not really set up to trade yet but I notice the fiber has not given us any decent ote retracement other than this tiny one but it is at the 1.2850 area so maybe price can get above this big round number (but as of right now it is serious resistance) If price can get above that level and it becomes support (maybe a key reversal day) and price can climb into the 1.2880-1.2900 region than shorts could be a nice play.
usdx is moving straight up so this seems bearish for eur The big problem for me is that fiber hasnāt given me a rally to sell yet but I suppose there are some who are still in short and you I say awesome! I hope you are milking it dry.
Anyway I am very new to these methods and I havenāt finished the material yet and I donāt have aplan in place and Iām not a gambler (well maybe a little) but seriously I am just trying to analyze with what I have. I havenāt even started incorporating smt into the mix yet but I can see why these methods are so powerful.
btw I meant to add that that little retracement is/was at the ote level on the 5 minute chart maybe a small short there but I am still not clear on time of day stuff so maybe the timing is way off???
its off topic but Johnny, and who ever else is into company structures and ātax optimizationā at itās bestā¦ research a little bit about the structure of the Glencore company;) (as an example on how the smart guys are doing itā¦)
for offshore bank accounts Iād be looking for Singapore nowā¦ Hongkong is also ok, Switzerland wonāt touch the Money from american customers anymore after the mess they got inā¦ if the money is taxed nicely and all, then switzerland is still the way to go I guess (or a mix of Swiss and Singapore bank accounts would probably be goodā¦)
Iām looking to eventually open a company in the BVI and do my trading via that company (once I have an account of relevant size), since the country Iām currently residing in doesnāt have clear laws regarding trading profits and itās taxationā¦and above all is famous to be one of the most corrupt countries in the world;) Itās more about asset protection than tax optimizationā¦
but lets get back in topic;)
was expecting to see a weekly high being made by today, in which case I would have been looking to catch a shortā¦
but the closer we get to the 1.6020-1.6 level Iām getting tempted to look for longsā¦
still flatā¦ thats why I have time for my rant about offshore banks and companies;)
cheers and happy hunting
Hi, Anyone thinking the cable may have just posted the weekly low?
Edit: OK maybe not, I guess it will drop to 1.6000.
During LO I was looking for this to climb a bit more myself, but if you draw your fib from yesterdayās Asian range you will find this area falls in the OTE range 62-79 depending where you pull your fib from. Play with it a bit and you will see. Then it gave a nice nesting 5min OTE to the pip. I went short at 1.28606. It took itās time but well worth the wait, when it dropped it dropped hard 
This trade took place during the 10:00GMT hour which ICT has discussed as a time to watch for another Judas pull back. I like to wait for the smaller 5min OTE to enter a trade. I miss some moves but I feel a bit more comfortable with the entries. Sorry if this doesnāt make sense but my 3 yr old is screaming as Iām typing. GLGT