Which size lot should should be opened on USDINR?

#1
Hi FRNDS,

I want to trade on the USDINR in my SBI Currency Futures.I have 5000 RS in my account so which size trade lot should i open like 0.01 or 0.1 or 0.001.Please if anyone knows it well please help me?
 
#2
Which exchange are you trading on? ..


I think you if you are holding overnight you can buy 2 lots .... see zerodha claculator ---> https://zerodha.com/margin-calculator/Currency/


Honestly I feel much better you go shopping and have a nice lunch with the Rs5000/-

Reasons being:

1)You must treat this as a business just like any other

2) One of the main reasons businesses fail is due to under capitalization

3) There is very slim chance you can trade currency with Rs5000/- profitably

4) Way to make money in currencies (FOREX if OTC) is to make steady moderate yearly gains. If you try to make big gains you will have to bet big and if you do you will lose big.

5)See this for the concept ---> https://www.youtube.com/watch?v=SzS2B4XVs7Y

6) With Rs5000/- you don't have much holding power, and can not practice effective risk control even if you had Rs10000/- and you make 200% a year it still a small amount of money and it will take you several years to build it up to a significant amount, this requires extra-ordinary patience and discipline, very hard to do, you will be tempted to take big risks to earn a psychologically gratifying amount of money more quickly.

If you start with say 5 lakhs it becomes much much easier psychologically as well as from risk control perspective. 10 lakhs even better, 25 lakhs much much better and so on.

So best to go shopping and have a good meal.
 
#5
Which exchange are you trading on? ..


I think you if you are holding overnight you can buy 2 lots .... see zerodha claculator ---> https://zerodha.com/margin-calculator/Currency/


Honestly I feel much better you go shopping and have a nice lunch with the Rs5000/-

Reasons being:

1)You must treat this as a business just like any other

2) One of the main reasons businesses fail is due to under capitalization

3) There is very slim chance you can trade currency with Rs5000/- profitably

4) Way to make money in currencies (FOREX if OTC) is to make steady moderate yearly gains. If you try to make big gains you will have to bet big and if you do you will lose big.

5)See this for the concept ---> https://www.youtube.com/watch?v=SzS2B4XVs7Y

6) With Rs5000/- you don't have much holding power, and can not practice effective risk control even if you had Rs10000/- and you make 200% a year it still a small amount of money and it will take you several years to build it up to a significant amount, this requires extra-ordinary patience and discipline, very hard to do, you will be tempted to take big risks to earn a psychologically gratifying amount of money more quickly.

If you start with say 5 lakhs it becomes much much easier psychologically as well as from risk control perspective. 10 lakhs even better, 25 lakhs much much better and so on.

So best to go shopping and have a good meal.
Hello,

I want to know in the NRML Type can the order be hold until we want to close it or is there any limitation like intraday order closing?
 
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