Start trading cryptos about 4 months ago

Wrong!

Why the fuck are you assuming he is a burger?

So what, just think about it, they can only tax you on profit, and it doesn't accumulate.

The point being, even if you make a million you will still be left with 55% at worst.

OK! At least i know that counts for fucking cuck countries like deutschland and österreich

being American is suffering

Can you share what TA are you using to enter good trades?

I'm pretty sure all countries will want taxes on coin to coin.. it's just that they're still figuring it out

I just don't see how one can make any fucking money.. buy shitcoin with BTC, sell shitcoin for BTC profit -30% in current Fiat value, cash out to Fiat -30% again. What's the point of even doing small trades

how would the government in Austria or Germany ever know you made some shitcoin trades?

>Excel sheet + FIFO
Broblem solved.

Have you ever heard of a term called cashing out?

im so fucking sick of you cunts on this board. only 12 months ago this was the best board on Veeky Forums now its full of total pussies, pajeets and cucks.

I don't do anything special. I just use the most common indicators (RSI, MACD, BB) and moving averages and short once things go too high or go long in a dip. Pic related is my setup. I often set up timed trades in advance in case things temporarily spike up or down.

Because you have to hand in a tax report. Germanfag here, we don't get taxed per trade, but you have to pay income taxes on the difference between what you paid in and gained by the end of the year. I'll just print out a list of all my trades and pay whatever I need to, I don't really give a shit. Still better than being a wagecuck.

nope

Goodluck reporting all those trades on your taxes, assuming you don't live in a shithole country.

it's piss fucking easy

even when it's the case, not every single trade is a taxable event except for burgerland

>You know that you get taxed on every crypto transaction you make right?

oh no.....

>send 10 ETH to binance
>make 1000 trades
>you now have 100 ETH, but the tax is fucking high due to the number of trades
>download trading history excel file from binance
>delete most of the list
>make it look like you went all-in on tron or something, and took profit at 10x

so hard, wow.

what?

>Goodluck reporting all those trades on your taxes

Sir, the IRS here lets see, in the past year you have sold 3 old iphones, a kids bike and a used dragon dildo on Craigslist. You owe the state an amount of $.

Yes you are this retarded.

what the fuck is the point of that?

Is it really that easy? I am on Bitmex right now, fucking crashing my head on 1min-3min candles, and it is so stupid.

i don't even know where to start with you my senpai
i guess pic is relevant

Except most countries enforce you to LIFO.

only in burgerland every trade is a taxable event

I'm an eurofag, my country has no strict crypto laws, nobody knows how to tax them yet, so doing it is a huge risk
Tell me, do you have to pay taxes if you only trade alts for btc and btc for alts without actually selling btc for Euro? In other words, do you only pay taxes when you ACTULLY cash our for real money?
E.g. You buy 1 btc in 2017, you make 5 btc out of that and sell 1 btc for fiat. Do you pay taxes only for that one BTC, or is your "profit" in BTC gains somehow taxable?
I'm a tax retard, pls no bulli. Explain it to me, because I might want to move to germany for 1 year (because if you HODL BTC for 1 year in Germany... I forgot, enlighten me) just to cash out my crypto someday

incorrect senpai

>come to brazil m8 you only get taxed if you make R$35,000+ per month which im guessing you dont

IF YOU DON'T UNDERSTAND THE POINT OF DOING THAT IN THE US THEN YOU SHOULD HIRE SOMEONE TO DO YOUR TAXES. AND KYS.

In Germany as well. In the UK as well. Don't know about other countries, but I assume there are many that do it like this. Just because you don't know or care about it doesn't mean that the tax jew doesn't tax it.

Fucking burgers think USA is the whole world. Havnt only like 20% of you mongs got passports.

Britbong here. We and a
the rest of Europe do not share your retarded crypto to crypto tax.

I have someone to do my taxes, the CGT is on net capital gain, it doesn't matter if you made 1 trade or 1 million to get from 10 to 100, you are taxed on the 90 ETH profit, all deleting shit does for you is take away your ability to claim the fees

Stop it, bro. I did the same fucking shit. You're constantly stressed out, while you're chasing fucking 1% gains and even on "safe" entrys random market swings will fuck you up constantly. Just think about it, if you had bought the dip a week ago and sold now you would have made 35% and the next dip is right around the corner. Can you match that with your mini trades? And even if, is it worth the difference in effort.
I don't know how it is in your country, but here you have to pay taxes on all your gains, the only way to avoid it is to buy a coin and hold it for 1 year, after that it's tax free but I think that's only works in Germany.

Fucking wrong.

This.

Yes you do get taxed on trade to trade.

trading ETH on those time intervals is nearly always comfy. as long as you only buy the dip, selling for a nice % increase is trivial. at worse need to wait for a few days.
I got semi just'd on one trade in december but just bought more to lower the average.
waited 5 days for that bag to break even.

What % did you gain on an average day? You know you can also do both things?

Yes, but thats only IF YOU CASH OUT.

And also only if you cash out big amounts (like over 10k EUR).

If you just keep trading and holding, nobody knows. Why would you report it?

Thanks, /TA/ bro.

>live in a third world shithole
>divide my stack over few exchanges
>buy dumps and sell recoveries on minor profit margins constantly
>make a days worth of wage in 2 mins
>no tax
>not planing on cashing out anyway

tax free after 12 months in germany

brits have to pay taxes on trades?even if its below £11k CGT annual limit? if so, i assume we can use our losses on trades to lower our gains on other ones right?

gains - as in coin gains? That's what I don't get.
is multiplying your BTC stack considered a taxable gain? Or did you just say, that you pay taxes for what you actually sell for FIAT? And the BTC gains you made are not taxed, becasue you didn't cash them out yet?
Pls explain, no troll here

not below thresholds, losses lower gains, you are taxed on NET GAIN

I'm a Student and I can make 17k per year tax free, I'd be dumb no to report it yearly. Also I really don't see it as a big issue. Sure, it would be nice to not have to pay taxes but in the long run that would just end in trading platforms getting banned or some shit and we certainly don't want that. It's literally free money, just pay your taxes and deal with it. You'd have to pay taxes for every other kind of job too.

Deutsche user, can you explain how you use RSI?

i think you're going to make it user

show us your ways, wise one
here's a rere pepe

cheers, good thing im a poorfag who has yet to gain £11 in a year

Okay, real easy. Let's say you pay in 1000€ today and by the end of the year you have made hold cryptos/FIAT with a worth of 10k€ then you have to pay taxes on 9k€ income. It doesn't matter how you got there. You could even be at 1 Billion € before then end of the year and drop back to 1100€ and then you only have to pay taxes on 100€. And yes, that means that you could be forced to cash out some money in order to pay if you only hold cryptos.

is this some nocoiner slang?

Spaniard here. No tax laws at all yet but I have insider info. They only going to tax FIAT when you cash out. They can't know which coin and how many you bought. They can only know how much you paid and how much you cashed out.
>Pay 1000€ for 10 ETH a year ago
>Cash out 1000€ by selling 1 ETH a year later
>No tax to pay

I hope they do the same for you, user.
Source: Executive from a national bank.

no you don't. your land of the free is the only true shithole on this planet. enjoy.

*£11k lol

RSI is easy as fuck. It's literally brainlet tier. RSI stands for relative strenght index and it finds overbought and oversold conditions. The RSI ranges from 0-100. If it is under 30 you are in an oversold condition, meaning people are selling cheaper than they should, if it's above 70 it's the other way around and people are buying higher than they should.

Easy rule, buy when the RSI is sub 30 or above 70 (25 and 75 if you want to be really safe). It's one of the most common indicators and therefore a self-fulfilling prophecy in itself if everybody buys a drop below 30 there will be a spike, easy as that.

thank you, this was the definite answer I was looking for for a long time, you've made it all clear to me now, user
you're doing god's work

rsihunter.com/
fellow anons, use this website for RSI- thank me later
I want us all to make it

Here, an example. This is the ETH dip from last week on an 1 hour chart. In the lowest point the RSI hit 25 and it's been only going up since. It's not complicated.

On the other end of things we are still at an RSI of ~60 right now, despite already going down from yesterday, so if things go up back to the 70 range it's a good time to sell and wait for the next dip.

Holy shit, nice find.

>muh freedoms

it's unregulated here as well, Po(o)rland has no clue how to tax it yet, so so far this would be an acceptable solution
the thing is, polish taxman is a cunt that will complicate everything as much as possible to the point of a total clusterfuck just for the sake of it.
If they regulate it, I suppose they will pass a law that will be america-tier retarded

Is there any way to sort for platforms?

BZC's platform is finished, it's like one of the only 20 crypto's that has a finished platform.
Go buy your "We promise it'll be done by 2025" coin.

in the future they will, if u look at top of screen it says its still in beta

Nice larp, mate !

Crypto to crypto trades are taxable in the UK. You are still selling an asset.

Also, depending on the amount of trades you are doing, they may look upon you as a professional trader. In which case, that comes under income tax.

Mining comes under self employed status. I would imagine if you also stake proof of stake tokens then that also comes under mining. So you have to pay the same 20% tax everybody has to pay, plus you also pay Class 4 which is 9% on profits between £8,164 and £45,000. So your being hit with 29% tax.

Thats assuming your honest. Can't see how hmrc would have the resources to check up on crypto traders. Also if privacy coins and decentralized exchanges like kyber are involved, how could they know?

I'll probably be a cuck and just pay up for peace of mind.

fucking reddit faggot gtfo

Here's the thing, people taxing taxes is probably the only thing that will prevent us from getting dicked by regulations. If states end up making money due to crypots, and realize the potential for growth in the future they will be less inclined to shut it down. If they think magic internet money is a way to escape taxes they'll fuck it up in the next year or two. I know it's a spergy as fuck thing to say, but in a way we cryptofags are a community, and paying taxes is in our interest.

>Only get taxed if you make more than $5 USD

No thanks huehue I'll pass on the favelas too

Why would you want to buy if people are buying higher than they should?

normies? people who don't know what RSI is?

Good point.

For the crypto to crypto trades, do we need to check historic exchange rates from the day of the trade to determine the GBP gain? Or is there a simpler way to do it?

Oh, sorry. it's supposed to be
>Easy rule, buy when the RSI is sub 30 and sell above 70...
I did an allnighter to finish a paper and my concentration isn't the best.

Any additional questions about RSI or other indicators?

>>Easy rule, buy when the RSI is sub 30 and sell above 70
Kek, okay that makes a lot more sense, yes.

What are you using to get that interface for Kraken? I'm trading on Kraken and it's aids, the volume sometimes overlaps the candles

Dunno about britbong laws, mate here it all comes down to what you have in the end and the individual trades don't really matter. You only have to keep track of them to prove how you got from X to Y.

maybe not, but active trading (no matter if it is crypto, forex, gold or your sisters panties) is still taxed as income in most of the world

>I just use the most common indicators (RSI, MACD, BB) and moving averages and short once things go too high or go long in a dip
I do the same "daytrading" and I fucking get rekt half the time

this
look to minimize your taxes, not evade them
remember you only pay taxes if you make gains
if governments fuck everything up nobody will have to pay taxes because there are no gains to be made

Look at this spastic

Go to the Kraken mainpage and then Trade -> New Order -> New Charting & Trading Tools

Then you set that shit up in a comfy way. I bought a 4:3 monitor specifically for it because I think the extra hight is very useful.
Follow my ways and switch to 4 hour charts. Just try it for a week or two. You have nothing to lose.

Thanks user, may your gains be blessed.

He's just assmad because of the shit laws that were forced upon him. Can't really blame him.

so MACD lines converging means either an large uptrend or downtrend is about to happen?

>rsihunter.com/
Fuck man, this is great. Try cryptotracky.com, it's similar but tracks volume spikes.

Thank you anons in this thread, may your gains be high

Not really, it' can't really predict anything since it's a lagging indicator, but it does show you shifts in momentum. I don't really use the MACD alone, it's more to confirm other indicators.

Here's a good example. Empty bars mean that the momentum is growing, filled bars means it's slowing. 1 bar can often be a fluke, but 2 a pretty good indicator for a change in direction. In this case the 2 filled bars were a good indicator of when to exit the trade.

>4:3 monitor
>not using a 21:9 in vertical orientation

how do you even expect to be a successful trader

hey no prob, and cryptotracky is great also. I have only just discovered this rsihunter.com though, and am unsure as to what timeframe i should look at. At the top right i can select 5 min, 30 min, 1 hr, 4hr etc. I assume its just best to stick to the long term trends?

Kek, fuck no