FAQs FOREX for Indians

[ag_fx]

hi everyone
i am new here and want some help with my questions about trading in forex from india??
i am a final year student of B. tech, i had practiced on forex.com's practice account for 1 month and made some decent profits on it. so now i am about to open a live acccount on forex.com as i am used to their platform and their reviews are also good.

i want to know if a person can legally trade forex on an offshore broker's online platform and under what rules/provisions he may file the income tax on profits earned from them??
please help
thanks in advance

Guri,
Take a look at the first few posts of the thread.Your answers lie there.

 

[sikandar]

Hi ankit
Alpari india do they allow auto trading for mini acct holder

 

[pipshower]

Hi ankit
Alpari india do they allow auto trading for mini acct holder

Yeah they do allow auto trading for any acct as just requirement is using metatrader platform..

 

[sikandar]

Hi pipshower
I want some backtest with free EAs,from tradingsystemforex com,I tried strategy tester in mt4 the result shows every thing 0.what could be wrong with back test?

 

[pipshower]

Hi pipshower
I want some backtest with free EAs,from tradingsystemforex com,I tried strategy tester in mt4 the result shows every thing 0.what could be wrong with back test?

Hello Sikandar,
dont go for backtests..
They will fool you 90 % of the times..
Instead from my experience i would say go for the forward testing on demo acct first and if you are satisfied then only go on live..be aware that no EA can stand all the types of market changes unless adjusted to change along with the changes in market conditions..

Hope this helps
Regards
Pipshower

 

[sikandar]

Hello Sikandar,
dont go for backtests..
They will fool you 90 % of the times..
Instead from my experience i would say go for the forward testing on demo acct first and if you are satisfied then only go on live..be aware that no EA can stand all the types of market changes unless adjusted to change along with the changes in market conditions..

Hope this helps
Regards
Pipshower

Hi pipshower
Nice to see your kind reply.Ok I will try forward test.Do you made any EA for your trade and forward tested with changing market condition with changed parameters what is your experience with it .
regards
sikandar

 

[pipshower]

Hi pipshower
Nice to see your kind reply.Ok I will try forward test.Do you made any EA for your trade and forward tested with changing market condition with changed parameters what is your experience with it .
regards
sikandar

No i dont use EA's .
I use and trade my own trading method to make money ...
Its my brain that does the EA work for me and my hands the execution ..thats it..
May be because i believe more in myself than the automated system ?!!!!
Just kidding..
When i was new in trading arena i tested many EA's none satisfying my needs and staying for long term in market ..
But later on i decided to go with my own mechanical trading method which makes me money consistently in all markets ..
Thats it..
Just my humble opinion ...

Regards
Pipshower

P.S. :There are many traders who use EA's to make profits . It doesnt mean i dont use the EA means that all EA's are bad. May be i am not genius enough to make one or rather i am lazy ...
So if u give your full heart and dedication on working on it you have boundless potential to develop one and be a king of pips!

 

[sikandar]

Hi pipshower
Thanks for elobrate reply,Do you use ma or oscilaters and which time frame you used to trade with great success.

 

[ag_fx]

Hi pipshower
Thanks for elobrate reply,Do you use ma or oscilaters and which time frame you used to trade with great success.

Price Action would be the answer if I am not wrong...The basic way tha markets work!!

 

[pipshower]

Hi pipshower
Thanks for elobrate reply,Do you use ma or oscilaters and which time frame you used to trade with great success.

I am a Price action trader ..
I trade weekly , daily and H4 mainly.

I believe a clean chart without indicator makes more money for me than those with the indicators ...

Regards
Pipshower