Forex

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forextradinginindia forex trading in india The realization that trends are the essence of profitable trading makes the idea of trading currencies very exciting, because currencies are the world’s best trending markets! Countless studies of trend following systems prove that currency trends are the most consistent and often the most profitable. Worlds’ most successful traders are currency traders. forex Trading in India

RBI Advisory on Overseas Forex Trading through Electronic / Internet Trading Portals:“The Reserve Bank of India has clarified that remittance in any form towards overseas foreign exchange trading through electronic/internet trading portals is not permitted under the Foreign Exchange Management Act (FEMA), 1999. The Reserve Bank has also clarified that the existing regulations under FEMA, 1999 do not permit residents to trade in foreign exchange in domestic / overseas markets. Residents are, however, permitted to trade in currency futures and options contracts, traded on the stock exchanges recognized by the Securities and Exchange Board of  India (SEBI) in India, subject to the conditions con ditions specified by the Reserve Bank from time to time.” How an Indian can Participate in Forex market?

Absolutely legal option is to ask a friend of yours who is either a NRI or a foreigner to transfer  money for you, because they don’t have these limitations. New to Forex Trading? Read and go ahead.

1. Make up your your mind to have have a reasonable reasonable profit profit target target of 30% 30% – 40% in a year. year. Fast paced paced vehicle crash sooner. 2. Stay in the the market market longer than than trying trying to make quick quick profit profit and getting getting wiped wiped out earlier. earlier. Longer you stay more the profit. As years goes profit follows you. 3. Do not risk risk more more than 5% of your your capital capital per position position with with a leverage leverage of 1:100. 1:100. 4. Lessened Lessened exposure exposure limits limits risk - A brief brief exposure exposure to the market diminis diminishes hes the probabili probability ty of running into an adverse event. 5. Smaller Smaller moves are are easier to to obtain – A bigger bigger imbalance imbalance of supply supply and and demand is needed needed to warrant bigger price changes. It is easier for a currency to make a 10 cent more than it is to make a $1 move. 6. Smaller Smaller moves are are more frequent frequent than than larger larger ones – Even during during relati relatively vely quiet quiet markets markets there are many small movements that a trader can exploit. 7. There is is stop hunting! hunting! Better Better avoid puttin putting g stop loss. loss. There There is more chance chance your stop  being hit than being hit h it your limit (take profit) order. Rather do it manually or let the EAs do the work anonymously. 8. Meta Trader is the the next next generati generation on trading trading platform. platform. 9. Learn Learn to code Expert Expert Advisor Advisors. s.

10. Customizing your platform and using EAs help you avoid psychological barriers and human errors. 11. Demo trading is entirely different than a real trading. 12. All the broking firms have their demo. You become easily addicted to demo and desperately want to open a real account. 13. Forex is the best trending market. 14. Market falls much faster than a rise. Short positions make profit quicker than a long. 15. Just trade for 5-10 pips based on 14 and 21 day moving averages in a 30/60 minute chart. 80% of the time you will end up making profit. 16. If you trade ‘30 minutes’ chart, your profit target should be of 5-10 pips. Fr ‘1 hr’ 10-20  pips. For ‘4 hr 100 day moving average’ 20-50 pips. For ‘daily 100 day Moving Average’ 50-100 pips. 17. Longer the chart period more the accuracy. 18. Trade one position at a time. Put a take profit (limit) order and just leave. 19. Do not take fresh position, until and unless you exit your holding position with a profit even if it takes a year! 20. Compound your position. Only the profit to be used for compounding the position. 21. Wait for the profit to grow that is sufficient enough to meet additional position margin. 22. Do not add to your losing position. Means DO NOT AVERAGE. 23. Whenever you feel averaging just do the reverse trade. 24. Don’t be a skeptic. There is much debate versus fundamental and technical analysis. Turn a deaf year at the skeptics. We accept all with an open heart. Adopt all ways to reach your  goal – money. Apply fundamental, technical and news analysis abundantly. 25. Fibonacci retracement, moving averages, MACD divergence and trend lines are very effective in trading. Learn and apply. 26. Triangles, pennants, flags are good but difficult to identify. 27. Technical analysis discounts everything. More and more people use technical analysis and trade than previously. Normally market moves with the people intentions. Go with them. 28. Positive economic data for a particular currency doesn’t always guarantee a positive move. 29. EUR and GBP are strongly correlated. EUR move is a leading indicator to GBP when you trade for 5-10 pips. 30. Avoid market makers. Rather choose ECN or STP. 31. Easiest way to identify a market maker is that they offer fixed spread and no commission. 32. Broking arm of Banks doesn’t mean a genuine broker. 33. Learn more about regulatory authorities such as CFTC, FSA, NFA, etc.. 34. If you have been manipulated do not hesitate to register complaint. 35. Participate in Forex Forums.

36. There are Forums anonymously promoted by brokers. Identifying them is little difficult. { 2 comments… read them below or add one }

niranjan May 16, 2011 at 9:10 pm hi, thx for forex information, I want to ask you about , if forex is not allowed in india ,how to open a account with Alpari, because i am planning to open account with alpari. my brother is in US so can my  brother transfer dollars to my trading account or to my abroad savings account because as  per RBI guidelines you can open saving account in abroad. can i trade in commodities also with same account? how demo account is differnt than real account can u explain, is it some kind of  marketing thing is demo account, i am using demo account rt now. I am sorry , i am asking too much Qs but I am new to forex trading but want trade Regards,  Niranjan Reply

vithal b.mhetre August 19, 2011 at 7:17 am Hi, thanks for fx infrormation I am new to forex market .I use the demo account in broker YOUTRADE FX..I want to ask you .This broker is regularaly athoritise with CFTC, FSA, NFA, etc. or not? Reply Cancel reply Leave a Comment Top of Form

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