virtual currency

Man Mistakenly Makes $11.6 Million | DayTradeFEED.com

July 31, 2018 by Kara Jones

Man Thinks He’s Day Trading Futures Demo Account

Makes $11.6 Million Real Profit

Above all, the following story shows us how emotion can affect us when we’re day trading futures. Please take this with a grain of salt as not all results are created equal…

Harouna Traore was learning everything about day trading futures. Part of his training included practice trading a demo account using real market data. He opened a $23,000 account with British brokerage firm Valbury Capital, and began “practicing.”

Day Trading Futures Without Fear

Later that night, Traore went home to continue learning about what it’s like to day trade futures on a demo account. Like many beginners do, he went on to push the limits of the trading software.

After all was said and done, he had lost more than a million dollars.

Reality Sets In

After finding himself more than one million dollars in the hole, Traore realized he wasn’t using a day trading futures demo account. In contrast, his account was very real, and he was in a pickle.

“I could only think of my family,” Traore said. “I was stressed.”

But instead of alerting the authorities or the company he was trading with, Traore decided to continue trading to see what he could do.

(Dis)Advantages of Day Trading Futures

Traore began day trading futures, and eventually found himself building up a $5 billion position in U.S. stock futures. He went on to turn his loss into a profit of about $11.6 million.

At this point, he called Valbury Capital, who immediately claimed breach of contract. His winnings were declared void immediately.

Traore is currently suing Valbury Capital for the $11.6 million. The case is ongoing and may move to France in the coming months.

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Should You Be Day Trading Ethereum?

July 25, 2018 by tradersolution

Should I Be Day Trading Ethereum?

Disclaimer: Day Trading Ethereum

First of all, let me just remind everyone that day trading Ethereum is something many people are already doing. However, every and all cryptocurrency markets are extremely fragile, and should be treated as so by day traders.

Now that that’s been said, let’s talk a little bit about day trading Ethereum, and why many investors think the new cryptocurrency will fail.

Is Day Trading Ethereum a Bad Idea?

As it stands now, Ethereum is the second largest cryptocurrency platform available today. Unfortunately, being ranked as such doesn’t protect you from the ups and downs that are the cryptocurrency markets. For example, Ethereum’s value dropped nearly 36 percent in the past year.

Many think this recent drop has hit it’s low point, and will begin to start climbing again any day now. However, many experts believe this currency has more room to fall, and will do so in the coming months.

What Experts Are Saying About Day Trading Ethereum

Above, we mentioned experts who believe Ethereum will continue to fall in the coming months. Among them is New York-based Tetras Capital, who has been taking short trades on Ethereum since May of 2018.

Last week, Tetras Capital even released a 41-page analysis report on Ethereum and why taking short trades is the right answer for traders.

Other experts shorting Ethereum include Timothy Young, former entrepreneur who made more than $100 million when he sold the company Socialcast in 2011.

“Ethereum has an incredible talent pool of developers,” Young said. “In the long term, I think they’ll solve a lot of scaling challenges. But in the short term, there’s a disconnect between the price and underlying technology.”

Neural Capital is also holding its short position moving forward.

Why The Negative Feelings?

Each of these different capital firms are betting against Ethereum. As we look at their reasoning, it becomes more and more clear that there are specific reasons behind the decision.

For example, Ethereum can only handle around 15 transactions per second. In contrast, Visa can handle more than 24,000 transactions per second.

“Just because something is a good idea doesn’t mean it’s a good investment,” said Tetras Capital founding partner Alex Sunnarborg.

Day Trading Ethereum – Our Conclusion

In conclusion, we here at Day Trade FEED believe you SHOULD be day trading Ethereum, just as long as you keep holding onto that short position. Ethereum seems like it’s heading downhill, so a short position (similar to that of the firms mentioned above) should be incredibly profitable as the market continues trending downward.

Learn More About Day Trade FEED

Interested in learning more about day trading? CLICK HERE!

Want to know if you have what it takes to day trade? CLICK HERE!

Find out how much we make day trading by checking out our day trading results!

Have a question for Day Trade FEED? Contact us!

Cryptocurrency Tax Law Update | DayTradeFEED.com

May 15, 2018 by DayTrade FEED

Are governments considering cryptocurrency business tax breaks?

The media focused on blockchain-based cryptocurrency at the end of 2017. This will continue in 2018 as Ethereum and Bitcoin are now more than recognizable words.

Little regulation is part of what led to this explosion of awareness. If holding value and avoiding market up/down-ticks is the end goal, correction is necessary.

CLICK HERE to learn more about Bitcoin, Ethereum and other types of virtual currency.

How do governments tax cryptocurrency?

Governments have created a wide variety of taxation policy worldwide so laws may vary depending on location.

Property taxes apply to all virtual currencies in the United States so the IRS regulates this.

Commodity taxes apply in Canada so exchange requires a capital gains tax.

These taxes help cryptocurrency owners who keep their investment for more than one year. Owners pay less tax because of policies surrounding long and short-term capital gains/loss.

Cryptocurrency taxation in the United Kingdom and EU

VAT tax laws were applied to virtual currency until 2014 in the UK, when virtual currencies began being taxed like currency instead of property.

“The value of the supply of goods or services on which VAT is due will be the sterling value of the cryptocurrency at the point the transaction takes place.” said a representative from the HMRC in a statement.

Visit DayTradeFEED.com to learn more about Bitcoin and other types of virtual currency.