anyone trades usdinr here ?

[praful.arora]

Also i feel that it's not a free flowing market where you can catch long term trends. They are usually intervened by RBI if the price goes beyond a certain psychological extent. So you can't catch bigger trends or moves. You can catch only small ups/downs.

Like in stocks you can ride a wave until it rises let's say 20-50-100% in price but you can't expect to ride on USDINR for say even a 10% increment in price. You will get stopped out countless times before it goes significantly higher.

This is what i have observed in USDINR in the past few months but others can correct me if i am wrong about this.

 

[hedgefudge13]

Also i feel that it's not a free flowing market where you can catch long term trends. They are usually intervened by RBI if the price goes beyond a certain psychological extent. So you can't catch bigger trends or moves. You can catch only small ups/downs.

Like in stocks you can ride a wave until it rises let's say 20-50-100% in price but you can't expect to ride on USDINR for say even a 10% increment in price. You will get stopped out countless times before it goes significantly higher.

This is what i have observed in USDINR in the past few months but others can correct me if i am wrong about this.

Hi Praful ,
Yes u are correct with the trend part . but the thing is , by nature and personality I am a scalper , even in the stock market . I look for 40-60paisa/share to scalp . Hence , Thats why i am keen in the forex market as we can use high leverage and scalp . Hope I am making sense to you .


Regards,
Fudge

 

[NJ23]

Hi Praful ,
Yes u are correct with the trend part . but the thing is , by nature and personality I am a scalper , even in the stock market . I look for 40-60paisa/share to scalp . Hence , Thats why i am keen in the forex market as we can use high leverage and scalp . Hope I am making sense to you .


Regards,
Fudge

40-60 paisa is "around" twice the daily range of USDINR Pair Futures on NSE. Mean reversion, scalping, as you said make more sense on this pair than trend following, it's not that trend following doesn't work, but these strategies are a little better than trend following. 100-150X leverage should be good enough to make money and not suffer severe drawdowns if your system is good.

 

[hedgefudge13]

40-60 paisa is "around" twice the daily range of USDINR Pair Futures on NSE. Mean reversion, scalping, as you said make more sense on this pair than trend following, it's not that trend following doesn't work, but these strategies are a little better than trend following. 100-150X leverage should be good enough to make money and not suffer severe drawdowns if your system is good.

Ah thanks for the comment NJ23 , very helpful . Yes i do realize we need a high leverage to make some good money of forex . but my concern now is , i need some basic info on it . As like you said 0.40-0.60 is twice the rage . I can only make a strategy after i get some info/knowledge abt the markets right ?

Thats the reason i am asking here if anyone has any link to a thread on thsi or another forum or a book which is useful or anyother site on usdinr would be helpful ..

i wasnt able to find a proper usdinr thread on forexfactory and babypips .

Hope you understand what i am saying .


Thanking ,

Fudge

 

[TraderRavi]

Ah thanks for the comment NJ23 , very helpful . Yes i do realize we need a high leverage to make some good money of forex . but my concern now is , i need some basic info on it . As like you said 0.40-0.60 is twice the rage . I can only make a strategy after i get some info/knowledge abt the markets right ?

Thats the reason i am asking here if anyone has any link to a thread on thsi or another forum or a book which is useful or anyother site on usdinr would be helpful ..

i wasnt able to find a proper usdinr thread on forexfactory and babypips .

Hope you understand what i am saying .


Thanking ,

Fudge

no thread on USDINR.

 

[NJ23]

Ah thanks for the comment NJ23 , very helpful . Yes i do realize we need a high leverage to make some good money of forex . but my concern now is , i need some basic info on it . As like you said 0.40-0.60 is twice the rage . I can only make a strategy after i get some info/knowledge abt the markets right ?

Thats the reason i am asking here if anyone has any link to a thread on thsi or another forum or a book which is useful or anyother site on usdinr would be helpful ..

i wasnt able to find a proper usdinr thread on forexfactory and babypips .

Hope you understand what i am saying .


Thanking ,

Fudge

See if you can find anything here(replace ** with Indi Traders as one word):
http://www.***********.com/forex/9998-daily-currency-commodity-stategy.html

 

[hedgefudge13]

See if you can find anything here(replace ** with Indi Traders as one word):
http://www.***********.com/forex/9998-daily-currency-commodity-stategy.html

Thanks NJ , will check it out after market .


Thanking ,

Fudge

 

[raj_hpking]

Hi Fudge,

I am also travelling in same boat. I also want to learn. I have sharekhan account. Today I tried to trade usdinr. I noticed I can only buy futures or options calls. I thought we can buy normal usdinr pair without any expiry. Rest things seems same like normal equity trading.

Please share if you get more information.

 

[Striker]

Does anyone trade USD/INR spot here? Is there a way to use leverage in the cash market through any broker?

 

[aryabhatta]

Hey guys ,
I was thinking of jumping into the ocean of forex as i seem to be trading equities well .
Wanted to know if its legal to trade in india and does anyone have a post or a book or a link which would explain me abt forex trading ?


Regards,

Fudge

You can read the book "Bird Watching in Lion Country" (but make sure you get 2010 edition) by Dirk Tu Totit ...... this would give you some basics of what you're getting in to.

Some people like it, some people hate it (mostly because of his sales pitch), but he tells you the reality of the game.

Full disclosure: I am not affiliated with the author in any way, never met him, spoken with him or corresponded with him.