tarjei Posted January 10, 2018 Share Posted January 10, 2018 I'm trying to look at charts and draw my own to see if I can make good decisions. I'm very new to this, so do no take this serious. So here it looks to be at the bottom of an Elliott wave. And that it will go up from here. Dunno if I'm talking nonsense though Candles are 4 hours Link to comment Share on other sites More sharing options...
omariqy Posted January 10, 2018 Share Posted January 10, 2018 31 minutes ago, PieFacE said: So I started investing in May, and put about £20k in. I only have to pay 10% of how much profit I've made since? Depends on your income. First your deduct your annual allowance (£11,300) then whatever falls within your basic rate band is at 10% and anything above is at 20%. You can also offset any unused capital losses. Link to comment Share on other sites More sharing options...
zak Posted January 10, 2018 Share Posted January 10, 2018 (edited) 36 minutes ago, PieFacE said: So I started investing in May, and put about £20k in. I only have to pay 10% of how much profit I've made since? 20% on most if not all. If this is your only income, you pay 10% on the first £11,500 and 20% on the rest. I think Edit: or what ^ he said Edited January 10, 2018 by zak Link to comment Share on other sites More sharing options...
omariqy Posted January 10, 2018 Share Posted January 10, 2018 Can Chartism really apply to crypto given its infancy? Basically the way I see it is people follow supposed experts, they big up a currency they have recently purchase, everyone follows, the price goes up and then they dump and then the price goes down. Link to comment Share on other sites More sharing options...
zak Posted January 10, 2018 Share Posted January 10, 2018 I much prefer Ether to BTC long run but with the shape of both markets currently im tempted to sell some Ether for Bitcoins short term. I wont but its definitely interesting Link to comment Share on other sites More sharing options...
PieFacE Posted January 10, 2018 Author VT Supporter Share Posted January 10, 2018 So it would be 20%. Which means I'd get absolutely shafted. Holland here I come. Link to comment Share on other sites More sharing options...
zak Posted January 10, 2018 Share Posted January 10, 2018 2 minutes ago, omariqy said: Can Chartism really apply to crypto given its infancy? Basically the way I see it is people follow supposed experts, they big up a currency they have recently purchase, everyone follows, the price goes up and then they dump and then the price goes down. From what i have seen, it can. I am in a chat group with a friend of a friend who was a Dr but supposedly went all in on cryptos and made £50-200m from Cryptos and he does it. Obviously, i dont know thats true or how exaggerated it is, what i do know is he went in on an ICO in Jan 2015 which went south. He put in 38 BTC for the project (BTC=$200 then) so its plausible. It doesnt seem to be eating him up either considering the value now. Link to comment Share on other sites More sharing options...
zak Posted January 10, 2018 Share Posted January 10, 2018 9 minutes ago, PieFacE said: So it would be 20%. Which means I'd get absolutely shafted. Holland here I come. one for @omariqy, but if you made millions in cryptos then moved to Holland and cashed out, that would be fine as long as you then continued to live there for a specific time (5 years or something?) 1 Link to comment Share on other sites More sharing options...
tarjei Posted January 10, 2018 Share Posted January 10, 2018 5 minutes ago, omariqy said: Can Chartism really apply to crypto given its infancy? Basically the way I see it is people follow supposed experts, they big up a currency they have recently purchase, everyone follows, the price goes up and then they dump and then the price goes down. I've been looking at day traders though various media for a while now, and the charts they draw up are very often spot on and predictions are often good. Reading and understanding the graphs and then applying the correct tools I find very difficult though. I did the same with Flixxo, using a FIB retracement, and it shows it will rise to just below 8k satoshi before a small dip, then a big jump to 10.5k satoshi. At current price of BTC that means the correction will be around $1.50-$1.60 I'm just writing this down to see I'm reading it correctly, or how wrong I am Link to comment Share on other sites More sharing options...
Genie Posted January 10, 2018 Share Posted January 10, 2018 I’m braced for 20% if I win big, I did wonder if I could pay my mortgage with BTC directly and if that somehow went as an expense rather than a profit Link to comment Share on other sites More sharing options...
omariqy Posted January 10, 2018 Share Posted January 10, 2018 (edited) 31 minutes ago, zak said: one for @omariqy, but if you made millions in cryptos then moved to Holland and cashed out, that would be fine as long as you then continued to live there for a specific time (5 years or something?) I am not a tax expert so probably best to take advice but if you become a non-uk tax resident you will pay tax at whatever rates in the country which you are resident. However, they changed the rules recently so you have to be abroad for a length of time to not be classes as a non-temporary resident. See the below link https://www.wealthadviser.co/2016/04/25/238823/art-becoming-non-resident-uk-tax-purposes Edited January 10, 2018 by omariqy Link to comment Share on other sites More sharing options...
omariqy Posted January 10, 2018 Share Posted January 10, 2018 A man who many trust and admire, Warren Buffet, has completely dismissed Crypto today. Said it's just a bubble and nothing behind it. Link to comment Share on other sites More sharing options...
Xela Posted January 10, 2018 Share Posted January 10, 2018 1 hour ago, omariqy said: A man who many trust and admire, Warren Buffet, has completely dismissed Crypto today. Said it's just a bubble and nothing behind it. He's also made some big investing mistakes in his life as well. Link to comment Share on other sites More sharing options...
PieFacE Posted January 10, 2018 Author VT Supporter Share Posted January 10, 2018 (edited) 1 hour ago, omariqy said: A man who many trust and admire, Warren Buffet, has completely dismissed Crypto today. Said it's just a bubble and nothing behind it. Yeah, I think there's no denying that it's a bubble. But isn't the thing about a bubble is that most people don't know they are in one? Many people have been calling it useless for a long time yet it still keeps growing. There's fundamental use to blockchain technology, I don't really expect a lot of these old financial experts to really understand it. No disrespect to Warren but a quote like "I think crypto currencies will end up bad" or whatever it is, what does that mean? Maybe the market will grow 10x and when the bubble pops it will restore to what it is now? I think it's got a long way to go yet, but I'm no expert. The market cap is still so small. Edited January 10, 2018 by PieFacE Link to comment Share on other sites More sharing options...
Xela Posted January 10, 2018 Share Posted January 10, 2018 Not crypto, but up £4k on my shares today! A good day. Still haven't invested into crypto yet mainly due to an expensive December (buying a new car) Need to get involved though. Link to comment Share on other sites More sharing options...
Genie Posted January 10, 2018 Share Posted January 10, 2018 29 minutes ago, Xela said: Not crypto, but up £4k on my shares today! A good day. Still haven't invested into crypto yet mainly due to an expensive December (buying a new car) Need to get involved though. Wow nice one, how did you make £4K in a day? Link to comment Share on other sites More sharing options...
Xela Posted January 10, 2018 Share Posted January 10, 2018 3 minutes ago, Genie said: Wow nice one, how did you make £4K in a day? Just the shares I hold went up in value today. Probably drop tomorrow! 1 Link to comment Share on other sites More sharing options...
PieFacE Posted January 10, 2018 Author VT Supporter Share Posted January 10, 2018 Link to comment Share on other sites More sharing options...
Tayls Posted January 10, 2018 Share Posted January 10, 2018 12 hours ago, Genie said: There’s several places to buy crypto currency. The biggest and easiest seems to be Coinbase who allow you to buy currency using GBP and they have a simple app. They only sell Bitcoin, Litecoin and Ethereum. It you want to buy some other coins like Ripple, Waves, Flixxo, Dent, Ark etc you need to buy from another exachange which sells them. To do that you’ll need to send Bitcoin to the other exchange using the wallet address (a string of letters and numbers) and then use it to buy what you want. Flixxo and Dent (plus loads of others) are available on KuCoin. Ark and many others can be bought from Bittrex. Cheers dude. Any other tips/advice before going into it all? As I say, never done it before, I want to be smart about it. Link to comment Share on other sites More sharing options...
Genie Posted January 10, 2018 Share Posted January 10, 2018 7 minutes ago, Tayls said: Cheers dude. Any other tips/advice before going into it all? As I say, never done it before, I want to be smart about it. Think of it like a bet, only stake what you can afford to lose. Link to comment Share on other sites More sharing options...
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