Ask Your Forex Question Here

have you heard or traded forex before?

  • yes

    Votes: 141 67.8%
  • no

    Votes: 67 32.2%

  • Total voters
    208

4xpipcounter

Well-Known Member
Prathsgd, I'll tell you the same way I would my best friend or my own kids.
Stay out of the market until you have done 2 things: Develop a methodology to trade by, and have sound margin management skills. In losing 90% of your account in a few hours tells me you had neither.
After you have developed the 2 important parts I mentioned, then enter the market, but very conservative. Do not worry about making money. Once you are in with real money with a developed methodology and margining skills, it is the mental aspect you will have to deal with. This is why it is important than when you enter to be conservative when you first enter.
I'm doing well in my trading, but I can also tell you that I still am never concerned about the money I'm making. The money follows naturally. After all, it is also natural that if those 3 integral parts are in place, then winning trades are made, which translates into lots of money.
I don't mean to be condescending, but what I told you is very true. Take it like it came from your best friend next door.


I am currently with forexcontrol..
I dont know if I am allowed to post the names here (apologiez)
But yes I have learnt the hard way how forex market works.
With the systems the traders have, forex is a intraday market, you can not take the delivery.
I have seen a good rise in my portfolio and then the sudden fall too.. like going from 4000$ to 200$ in a matter of few hours.
So I am planning to get into it again with more education, it is taking away more than me than giving.
Anybody plz advice.
 

4xpipcounter

Well-Known Member
Yazoo, I'm a little late in responding to your post, but maybe someone else looking on might get a benefit.
The object is you would not want to use indicators that have dissimilar traits. As an example, you do not want a methodology that consists of RSI, stochastics, and MACD. This is because they are all oscillators, and they will all coincide, for the most part. The problem is you enter a trade based on what they tell you, and it goes against you, mainly because they are similar and a confluence was not established
Personally, I use the stochastics, but I also use the ichimoku cloud, and a proprietary set of S&R's, and I use trendlines. All of those indicators are dissimilar by nature. They all do not have to "coincide". That is not the object. The trader is, however, looking for a confluence of events. As an example, if the stochastics is highly OB, the candle hit the top of the cloud, and my proprietary R was hit. That is telling me it should be a good time to go short.
In other words, if you do not have a confluence of varying indicators, then stay out. Wait for them to match up.
It is still your job to figure out which indicators or style you are comfortable with.


there are many indicators such as RSI, macd, bollinger, japanese candles but they all dont coincide, so which do we give preference?

thanks in advance
 
Last edited:

comm4300

Well-Known Member
Dear Experts,

I ask this question after googling for around 30 mins for a clear answer.

Some of my trades are copied with the use of an investor password.

I understand that investor password is read only password.

But, will investor password also enable the "viewer" to see exactly what i do with my charts/time frame/the pivot and fib levels that I've drawn? would the investor view levels that i've marked on charts? coz i wouldn't want that.

Thanks for your help.
 

4xpipcounter

Well-Known Member
Re: basic of forex trading

That is a wide open question that would require more specificity. Basically fundamental traders trade based on news and economic events. A technical trader will make a trading decision based on a chart or graph, with some indicators or oscillators attached to it.
Trading is all based on a set of personal preferences and biases that are catered to the individual.
That is the most simplified way of answering your question without regards to you being more specific.


hi, I am new to forex and I want to know about the fundamental & technicals of forex trading, pls help:)
 
Re: basic of forex trading

Fundamental analysis helps in identifying the valuation of a company based on set of factors that vary from company specific to industry specific to market and country specific parameters.Past performance of the company based on balance sheets like PE ratios,reinvestment rates,growths rates,betas,dividend payouts and etc. will be factored into the valuation and analysed.If the company is undervalued then Buy is the call.Generally fundamental analysis and valuation is considered for long term investment and is the pet tool of buy side research firms.
Technical analysis is based on the price and volume movement.Is simple and can be applied to any market,useful for traders and sell side research firms who give tips.There are many threads in this forum itself that can be mastered with a little bit of reading.
For a trader TA is all that is needed and to worry how inflation affects the interest rates and how banks will perform or will the monetary and fiscal policy is going to impact the markets and so on is not at all required if one wants to earn daily from the markets.

hi, I am new to forex and I want to know about the fundamental & technicals of forex trading, pls help:)
 
Hi - Would like to have feedback regarding US Forex Broker " FX Central Inc"



My query is regarding forex broker FX Central Inc who have their headoffice at Bangalore and office in Mumbai. They claim on various websites that they are the first RBI approved Forex Trading company in India and we can do forex trading through them as they have NFBC license. The link is http://www.fxcentral.net/microsite/index.html?gclid=CM-QnZ7avKYCFUQa6wod2HrgFw

They say they can do this as they have NBFC license from RBI. In India they are registered as FXCENTRIC BULLION FINANCIALS PVT LTD under RBI as NBFC (Non Deposit Based) Registration No 000043. They are accepting funds from customers for forex trading. Can you kindly confirm if they are genuine since they have used RBI name on their websites. We are aware of RBI guidelines regarding Forex Trading and hence we want clarity with regards to this, especially since FX Central Inc is aggressively promoting itself emphasizing on RBI approval with RBI logo. You can see the same in the link as well above (copy paste the link to open in other window). There are namy investors who want to invest in forex and want to be sure of these claims. Feedback will be really appreciated...thanks
 

yasirdxb

Active Member
Hi - Would like to have feedback regarding US Forex Broker " FX Central Inc"



My query is regarding forex broker FX Central Inc who have their headoffice at Bangalore and office in Mumbai. They claim on various websites that they are the first RBI approved Forex Trading company in India and we can do forex trading through them as they have NFBC license. The link is http://www.fxcentral.net/microsite/index.html?gclid=CM-QnZ7avKYCFUQa6wod2HrgFw

They say they can do this as they have NBFC license from RBI. In India they are registered as FXCENTRIC BULLION FINANCIALS PVT LTD under RBI as NBFC (Non Deposit Based) Registration No 000043. They are accepting funds from customers for forex trading. Can you kindly confirm if they are genuine since they have used RBI name on their websites. We are aware of RBI guidelines regarding Forex Trading and hence we want clarity with regards to this, especially since FX Central Inc is aggressively promoting itself emphasizing on RBI approval with RBI logo. You can see the same in the link as well above (copy paste the link to open in other window). There are namy investors who want to invest in forex and want to be sure of these claims. Feedback will be really appreciated...thanks
I'm also interested! anybody trading live accounts.. please share your experience!! RBI approved forex broker in India! quiet encouraging!
 

yasirdxb

Active Member
The best way I can share my experience is by directing you to my thread, "Some of my forecasts."
Are you trading live account with forex central? hoes their spreads and execution? what options are available for funding the account? And our funds stays in an Indian bank or what? The major question is if there is any added safety for our funds with this broker! I want to move my account to India if that is possible.
 

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