I think that you might ask your broker if he is proving application for trading from your mobile phone. As per my experience, deal execution is quite easy, however, making any sort of analysis is quite difficult. Laptop or PC are much better option for this purpose
The beauty of Forex market is its volatility. Exactly this volatility can generate significant profits for traders who are well educated on this topic and have great experience. All other traders need to work hard in order to gain experience and winning strategy
Forex market is a technical market and technical analysis play a crucial role in the success of a trader. I think we must have to work deeply on the technical analysis. If we get command in this field then we will get success as a trader. What do you people think?
I think forex trading is legal in India but I have heard about a ban on the cryptocurrencies. You must have to research well in this regard as Indian crypto holders lost a lot of money due to the ban. I do not know why the greater countries do not support cryptos!
Every time frame has different behavior and you have to trade on a single timeframe at a time. If you are going long on a trade then you have to trade in higher timeframe. If you are going short then you have to choose lower timeframe. Higher timeframe is the best one!
Yes, you have to pay some extra fees for trading stocks or currencies. The spread between the ask and bid price is the amount you have to pay to your broker. You also have to pay some commission. You also have to pay some fee in the form of swap.
I do not use many indicators while trading as they lead me towards a wrong side. I made a strategy on teh base of three indicators including moving averages, fibonacci retracement, and support and resistance. My chart window looks quite simple when I analyze the market.
You have to learn from the experienced traders. You have to take motivation from them. Motivation plays a crucial role in getting success on the pressurizing forex or stock market. These forums are a great source of motivation and education as far as I think.
I am trading from a long time and I have one big question in my mind. Is it possible for a trader with few bucks to compete with larger guns trading in the forex or stock market? What is the worth of these smaller traders? Why so many people lose money on money markets?
I really think that strong bearish trend for crypto currencies is over, so it might be a good time to rethink positioning long again in BTC or ETH. I am not sure about future price levels, like $20-30K, but some level of at least $6-7K till the year end would be achievable
I find this thread very informative. It was very good idea to start it. I find that different countries would have different tax rules. So, if you have an account with broker registered in other country, would you have to pay taxes in your brokers country, or in your resident one?
This is a very nice thread, especially for beginners to gain some more insights into trading. Can you please share what is your trading strategy and on what signals you are relying in order to decide which pairs and levels you will trade. Thank you
This is difficult question and depends on your trading abilities, strategy and experience. It is very individual, so targeting daily profits is not so easy to achieve. But I think that in some monthly range would be more appropriate to set some targets and improve your strategy accordingly
This is wonderful idea. It would be great to have a chance to meet other traders and exchange some thoughts on investments and trading in general. Anyway, I think that traders are specific people and that except forums, there is no chance to find somebody to chat with
Numismatic investment might be a very interesting type of investment but only if you know where to invest which is hardest part. In the western world some of these old coins can be sold on auctions or antique shops for significant amount of money. But only to other collectors...
There is no harm or shame in using small investments to do trading. The best thing is to gain experience in the market while taking small risks. There is no need to invest huge amount of money if you are new to the platform. You will only harm yourself guys. You need to protect yourself.
I believe that forex trading is legal in India. The only limitation is that there are certain currency pairs that you can trade with. I hope that forex trading becomes legal for all the currency pairs. India can become the greatest forex capital as it has huge potential.
The very first step that you shouldn't do is throw away your money. The first thing you need to do is gather all the knowledge you can about the different terms in trading. Trading is a very difficult thing to be successful in. You need to equip yourself with the right tools that is knowledge.
I have just one tip: try to use large time frame and mark S/R on this time scale and remember them. Because, during time those lines are usually tested again. It can also assist you when charting S/R on shorter time frame
I find that one of the solutions for Indians would be to open an offshore account and trade from it. Government cannot trace such accounts. Otherwise, if you can trade with currency pairs that involve INR, it might be also ok with good trading strategy