Ask Your Forex Question Here

abhiagg_mit · #41 4th October 2007, 12:08 AM

Sir please consider my question which I have posted some hours back..wile posting I got the message the my message will be posted if the moderator finds it appropriate..pls help!

abhiagg_mit · #42 4th October 2007, 12:14 AM

I am posting my query again.

I working in Sweden.I want to bring the money back to india.I have two options:

1.Get the Swedish krona and then convert them directly to INR.
2.Convert the Swedish Krona to Euro by paying exchange fees and then ultimately exchnage euro for INR.

My query here is that I have been told by the forex exchnage dealer in India that 2 option is the best as for option 1 Swedish Krona falls under misc category and they exchnage it for INR with respect to the dollar which is going in value.

But If opt for 2 option then I'll be paying the exchnage commision twice.Please suggest which option is better and why....Thanks inadvance.

nikhilpoddar · #43 4th October 2007, 07:54 AM

Quote:

Originally Posted by bhatiaashish007

I am also trading forex for quite some time and I am doing quite well.I have two questions for Mr jj shah
1) Trading with high leverage say around 10 times in highly volatile currency pairs like gbp/jpy for small profits rather than trading with normal leverage to gain same amount of profit is it advisable?When I say that trading with high leverage I make sure there is enough money in account to act as stop loss.In this method I have found that you dont need to sit long hours looking on charts and take your profit and get away.what do you feel about this type of trading?In this type of trading I utilize about 50% of account money at a time keeping the other 50% in account as stop loss.and I only trade one pair at a time gbp/jpy.I think you can earn about 150% per month with this method.
2) Have you ever tried trading in positive roll over pairs like gbp/jpy,usd/jpy,gbp/chf in their positive direction to give positive long term returns?I was thinking putting about 20% of the profit earned from above method which will give me long term positive returns although the chances of getting it screwed is also there when carry trade unwinds.what is your opinion of such carry trades?
I am impressed by your previous answers and let me tell you this forum has after a long time has seen someone quite informative and educative.The previous one being nautlius.keep your good work going.

Hi ashish,
could u please tell us which brokerage ur using for forex trading and how did u mange to transfer the funds to your account.

bhatiaashish007 · #44 4th October 2007, 04:07 PM

Hi I am using FXCM as broker and let me tell you i manage to tranfer my money in my account via HDFC Bank.I have been told by my frinds and other people including the concerned in reliance money HDFC Bank asks you the least questions and conducts hasslefre tranfers.I have not come across any problems as of now.

bhatiaashish007 · #45 4th October 2007, 04:19 PM

Quote:

Originally Posted by abhiagg_mit

I am posting my query again.

I working in Sweden.I want to bring the money back to india.I have two options:

1.Get the Swedish krona and then convert them directly to INR.
2.Convert the Swedish Krona to Euro by paying exchange fees and then ultimately exchnage euro for INR.

My query here is that I have been told by the forex exchnage dealer in India that 2 option is the best as for option 1 Swedish Krona falls under misc category and they exchnage it for INR with respect to the dollar which is going in value.

But If opt for 2 option then I'll be paying the exchnage commision twice.Please suggest which option is better and why....Thanks inadvance.

hi,
You should understand the basic thing that now rupee is getting stronger and stronger as compared to both dollar and euro.The second option would have been good if rupee would have been strong against dollar and weak against euro.In this case it would not affect you much.The second option I would also recommend to you but with only some change that you convert swiss francs to euros hold it for some time--possibly as long as you can and then convert it ,you will profit from carry trade.If u want to immediately convert it first option would be beneficial.Anyways its very poor time as of now to convert any foreign currency into rupee.I would recommend u to wait for sometime if its possible.

abhiagg_mit · #46 4th October 2007, 07:00 PM

Thanks sir!

I will convert swedish krona to euro and will wait for 1-2 months.What do you say??

bhatiaashish007 · #47 4th October 2007, 08:38 PM

Quote:

Originally Posted by abhiagg_mit

Thanks sir!

I will convert swedish krona to euro and will wait for 1-2 months.What do you say??

I expect to rupee futher strengthen till december and then will fall so u can look for new opportunity in jan to feb although these are just predictions as I hope the hype due to fed rate cut will be over by then and people would again go back to carry trades.

sundaram · #48 16th October 2007, 06:03 PM

Quote:

Originally Posted by jjshah

hi i am trading forex for a while and doing alright in it. if anyone has any question regarding forex please post here and i will try to help as much as i can.
If you want you can see my trading journal as well under my trading journal title.
cheers

Hi Mr.jjshah,

I have gained some confidence and success level via demo trades in MT4 platforms.Kindly tell me who is the genuine broker having MT4 platform in U.S., viz FXDD/interbankFX.

Thannks in advance.

Regards
Sundaram

sundaram · #49 16th October 2007, 07:51 PM

Quote:

Originally Posted by bhatiaashish007

Hi I am using FXCM as broker and let me tell you i manage to tranfer my money in my account via HDFC Bank.I have been told by my frinds and other people including the concerned in reliance money HDFC Bank asks you the least questions and conducts hasslefre tranfers.I have not come across any problems as of now.

Hi,

I understand that FXCM was fined 1.25 lacs dollars for some misappropriation by CFTC. You may refer CFTC's web site.

How long you have been trading with FXCM? How is their handling of clients.

Sundaram

AmoghG · #50 16th October 2007, 09:11 PM

Why does gold/oil become more valuable/expensive as dollar falls... I mean what is the whole rationale?

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