Trading FxCommodities With Me

[ashu1234]

I happened to read few more threads about this, and it seems forex trading is illegal. But I also know many ppl trade forex. . I am worried about the legal consequences to open a account with fx broker and trade commodities, and I understand you trade them, so would like to ask you, are you not afraid of legal consequences of trading forex. What is the max punishment for that.

Well I should not be encouraging here against Indian laws, coz its public forum.
But what I can comment is that its not a serious offense, only the money involved is the concern coz many people may use this forex route for money laundering purpose. Unless its a big amount which alerts tax authorities or someone has made formally complaint against you there is no way that you will come under radar . As you can see trading is legitimate business, many traders work from India for companies related with trading on payroll. There is penalty of 3-5 times approx of the sum involved in the FEMA laws but haven't heard some one ever dealt with this kind of thing for forex trading.
Second scenario which may come is only from IT department which can be easily dealt, just pay the normal slab of tax and you are done.

And if you are worrying that if you ever make big money trading in forex then how to remit, then I'll say that's a good news, go for a foreign trip and enjoy with the money and open a bank account there .

 

[ashu1234]

Expecting short term upmove in XAUUSD from here CMP 1312,backdrop(weaker dollar expected plus technical )
Target 1325+,
SL 1305.

Gold trading @ 1329.
Good point to book.
Greedy ones can trail sl to 1325 as break of 1333 can give further upside targets to 1352. :thumb:

 

[chintanvj]

Hey Ashu,

I am interested in working with you.

A little about me first.

I did my masters in Electrical engineering from NYU Poly, Brooklyn USA. During my masters I used to work as a teaching assistant for C++, Python and C#. I was lucky enough to get a job on Wall street after completing my masters as a programmer/analyst. The company I worked for was a startup and they were market makers in Crude, Brent, RBOB, Natural gas and Heating oil. They traded on NYMEX, CME and ICE. I worked with them for a year and half. I was involved in projects like designing and developing the company's pricing model. Developing company's position management system using C#. And was also involved in backtesting a bunch of other proprietary trading strategies.

What am I doing now?
I returned back to Mumbai mid June 2013. I want to start trading myself in India. I have been doing a lot of research meanwhile. Have met a few prop trading shops in the process. I have gone through babypips.com (well not entirely). I have also read a lot on how to become a trader. I know however much I read, it is not comparable to practical experience.

I am willing to invest for trading as I know it can be a business. I tried to PM you but for some weird reason could not go through.

Let me know if you think I am someone you are looking for.

 

[ashu1234]

Hey Ashu,

I am interested in working with you.

A little about me first.

I did my masters in Electrical engineering from NYU Poly, Brooklyn USA. During my masters I used to work as a teaching assistant for C++, Python and C#. I was lucky enough to get a job on Wall street after completing my masters as a programmer/analyst. The company I worked for was a startup and they were market makers in Crude, Brent, RBOB, Natural gas and Heating oil. They traded on NYMEX, CME and ICE. I worked with them for a year and half. I was involved in projects like designing and developing the company's pricing model. Developing company's position management system using C#. And was also involved in backtesting a bunch of other proprietary trading strategies.

What am I doing now?
I returned back to Mumbai mid June 2013. I want to start trading myself in India. I have been doing a lot of research meanwhile. Have met a few prop trading shops in the process. I have gone through babypips.com (well not entirely). I have also read a lot on how to become a trader. I know however much I read, it is not comparable to practical experience.

I am willing to invest for trading as I know it can be a business. I tried to PM you but for some weird reason could not go through.

Let me know if you think I am someone you are looking for.

Hi there,
I'm glad to know you. Btw I too started with my hands on with some programming on C++ and Java but that was just to get some hands on during dot com boom wold wide . Its thrilling that you have worked straight on the most advanced and liquid market, as we have to settle on Indian bourses :annoyed: and have to employ unconventional means to trade on Forex. Currently I'm on the mix of Indian/Fx platform in 80:20 sort of ratio
Trade only when opportunity opens up, mostly positional. Its great idea to share up experience and team up. Here forum wont allow you to pm if you don't have around 50 posts I guess.
but you can reach me at my mail.
ashu1234comm at gmail dot com

 

[ashu1234]

Gold trading @ 1329.
Good point to book.
Greedy ones can trail sl to 1325 as break of 1333 can give further upside targets to 1352. :thumb:

Gold break of 1333:thumb:

 

[ashu1234]

Rally over for gold @ cmp 1337.
Looking for downside from here.

 

[meerabaai]

You can have your own account which you can operate on your own and collaborate with me for all other inputs for mutual benefits.

 

[hir0406]

Rally over for gold @ cmp 1337.
Looking for downside from here.

one more great call sir.:thumb::thumb:

 

[ashu1234]

one more great call sir.:thumb::thumb:

thnx dear.
btw checked ur myfxbook stats.
going good :thumb:

 

[ashu1234]

XAUUSD: Trend(major) down.
Has broken this short term upmove trend line. We have successfully shorted in this 1335-1340 range earlier.
Looking for break of 1322 for fresh shorts.
SAR above 1342.