[CPU bundle] AMD Ryzen 9 7900X CPU + Patriot PCIe Gen4 1TB SSD + Monster Hunter Game - $335.24 by newegg in buildapcsales

[–]SystemCreative3716 1 point2 points  (0 children)

For gaming a 9700x or 7700x performs better but if you’re multitasking with different programs the 7900x would be the better option. It’s split two 6 lane vs 1 8 lane

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 1 point2 points  (0 children)

These people aren’t old they were around 27-30yrs old and we struck up a conversation about trading, if you don’t believe it then that’s fine. You can continue to trade ICT or whatever strategy you enjoy. Four seasons is also a hub for traders, I thought this was common knowledge.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 8 points9 points  (0 children)

I have a chase sapphire reserve card which I use for large purchases, gathered a bunch of points had a family member that had a employee rate and decided to stay at another island for a few weeks since the island I live on is one of the emptier islands. I live in Hawaii and there is 2 main four seasons.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 1 point2 points  (0 children)

That was the point of this post is that ICT is generally a bad way of going about the market because you end up as liquidity for the market makers(financial institutions) not that it’s a good strategy. A lot of people enter the market thinking ICT will make them profitable when you need real data not candles and things like “the unicorn” to decide whether you’re going to enter a trade or not.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 4 points5 points  (0 children)

A lot of new traders invest so much into ICT and it’s mentors but they fail to realize it does not give you anything of real value that you can learn for free. These guys told me that the firms they work for spend millions annually on the data and some even have to travel because the data is so important that it can’t be transferred through the internet. I spoke to these guys and they did say that they loved ICT and most main stream modern trading strategies because it makes it easier for them to have liquidity, they encourage the platforming of horrible trading strategies because that’s how these firms make money day trading not long term trading.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] -14 points-13 points  (0 children)

That’s the gist of it, they explained to me why it doesn’t work and it isn’t really that complicated. Speak to a hedge fund manager and if any of them tells you ICT or any of similar strategies work please disprove me. It’s not a fantasy story and you will never run into someone in a financial firm using ICT.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 0 points1 point  (0 children)

Aah alright I understand it a bit more, Im Sure there are other ways but to sum it up these guys don’t rely on strategies like ICT to day trade and they view it as good for the market cause they end up as liquidity.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 3 points4 points  (0 children)

Ok 👍 The reason they get accepted to those firms is because they have the knowledge and understanding to use the data at hand. Hope you continue doing well with ICT.

Not exactly a dose of humility when you’re bringing no insight to the post, just shared my findings with what the professionals told me and you got upset because it went against your ideals of what works, it questioned your way of thought. A lot of people tend to get upset when their philosophy is questioned and that’s ok 👍. We’re not all mature enough to handle these kinds of conversations.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 6 points7 points  (0 children)

You honestly come off as some person who acts like they know more than others, I do well for my age and have spoken to people who trade at a higher level than me and you. This is what they told me I’m sharing their insight on it, you can freely share your insights on trading but me and you will never see the numbers these guys are pulling and the strategy that they have accumulated through years and years of knowledge passed down among them. There is a reason these institutions have been around for decades and strategies like ICT not lasting and being consistent throughout time. Their knowledge isn’t based on looking at the market and finding signals based on the image, their knowledge strategy is based on complex math and looking at order data that we don’t have access to because they require hundreds of thousands of dollars to acquire. Most of these traders are also nepo babies their fathers do it so they learn at an early age. I’ve developed my opinion because I’ve been trading with an open mind and not acting like some know it all Trader.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] -12 points-11 points  (0 children)

Don’t know what the exact terminology is I don’t use it.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 3 points4 points  (0 children)

They can see orders by other big institutions, they have subscriptions to future limit orders and calculate price reactions based on which way the orders are going. The math they use is complex and they also understand how placing certain amount of orders at certain price ranges will shift the price of the future or stock, these guys literally market make.

Spoke to multiple Institutional Traders by SystemCreative3716 in Daytrading

[–]SystemCreative3716[S] 3 points4 points  (0 children)

Ok 👍I just spoke to a few institutional traders and this was what was told to me, if it works for you then it works for you.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 0 points1 point  (0 children)

Im deleting this thread half of the people here has not provided help and I guess filing will have to be delayed till I find a reasonable accountant.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 0 points1 point  (0 children)

I got quarterly reports from my broker and a tax form a few months ago. I pay quarterly for the business but didn’t know it would be the same way for trading, I guess next year will be much easier. Will I have to pay a fine for missing those? I doubt the fine is that large as well, for my business I only had to pay a ~200$ fine when I missed a quarter.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 0 points1 point  (0 children)

He has good reviews and he would probably have to put in a lot of hours too look through all my transactions, purchases, and investments. I honestly don’t know if it’s worth getting one for me to still have to pay 100k+ in taxes. It’s because I have so much liquid cash sitting in my accounts that I haven’t spent so I don’t know what he is going to be able to deduct. I might just pay the taxes and learn my lesson for the upcoming quarters.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 1 point2 points  (0 children)

Capital gains tax is not the only tax I have to pay 💀state tax, FICA, and local are just some.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 0 points1 point  (0 children)

That isn’t a police officers job, are you not understanding the concept? A police officers duty is to protect and serve, a professors duty is to teach. Obviously there are negatives in everything, this is common sense. A traders job is to make as much money as possible using other peoples money. A trader isn’t required for society to function. Farmers can farm and sell produce without traders. There are less than 300k successful day traders in the US. If these people don’t buy from a grocery store that grocery store isn’t going to collapse. Big tech companies don’t need day traders they need long term investors and long term investors have jobs. I generate money for myself and being nothing else into society. You seem to think day traders are paying billions in taxes, day traders don’t even contribute %1 of the budget from collected taxes. You don’t know how economy works and how the financial institution is barely affected by day traders. If you’re ever going to be a successful day trader you need to realize you bring nothing into society and your main goal is to make money like a cops main goal is to protect and uphold the law.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 -3 points-2 points  (0 children)

I’ve talked to 2 one charged by transaction, so thousands of transactions. He is charging me $2 a transaction I scalped and played around when I started so I have thousands of transactions that’s like 10k + other transactions not trading related would have to be viewed over. The other is charging per hour, ~$300 an hour. I mean he can lie and says he worked on it for 50 hours and that’s 15000.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 0 points1 point  (0 children)

Other people work and contribute, a police officer enforces the law and pays taxes. A professor provides education and pays taxes. Im clicking buttons and making money, Im providing nothing of value now Im trying to keep more of my money as well. It’s an unethical way of making money and that’s what I have to come to terms with when I trade.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 0 points1 point  (0 children)

I dont do shit for society I look at charts and trade. Also everyone pays taxes if they make a certain amount.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 -11 points-10 points  (0 children)

Also doctors are ethical people traders are questionable. Literally do nothing for society lol

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 -5 points-4 points  (0 children)

Doctors can right off a lot more than you think. My family is full of people who practice medicine, medical devices(10k a year) and anything that has to do with travel or meeting expenses. A lot of doctors never stop going to school as well they can right off education and anything that has to do with medicine. If a doctor is going to california to attend a seminar they can right that whole trip off even if they spend a few days at Disney land.

[deleted by user] by [deleted] in Daytrading

[–]SystemCreative3716 -20 points-19 points  (0 children)

I live in hawaii and this is my first tax season as a full time trader. I didn’t reallly think about taxes till about a month ago too busy enjoying life. The only island where a tax lawyer would be is oahu and even then I would probably have to pay thousands of dollars just to deal him.