Forex from scratch --a helping hand from pipshower...

[earnviaforex]

Aditya, it depends on the time when you where there in the market, there are times when there is no volatility at all. Congrats you made money. Beware the reverse too can happen in the same speed or may be faster. Its the lot size that determines the profit/loss.

 

[pipshower]

Helooo everyone out there,
i being a silent member of this forum, keenly tracking forex because i myself want to open a trading account in that & start trading but the same question i dont understand the exact process to start & can i trust them if yes what should i trasfer my funds through another thing guys hows iforex.com as they have call center based in mumbai right so how are they ... Plz guide me, thankyou in advance
regard's

I have opened up a demoaccount with Alpari and they have a web assisst office in Bandra Kurla Complex. how much canwe trust them. should I go ahead with their account.
What if i start trading with 200$ and would just like to earn only approximately 25$ a day with it can i do that.
They have a volume of 0.01 till 8.00 what is this in actual amount.
if can help pls assist.
thanks

You can go with Alpary .
They are far better than many brokers that many of our indian traders trade with it. They wont scam you for $200 lol..
The fact that the MT4 and datafeed they have , they pay far more $$$$$$...
Well with there directpro , thye have also become STP ..so no need to worry..
Go on...
Iforex is not recommended as of now ..having a call centre wont help...Alpary has office in Mumabi already..So that would be better ..Just a personal opinion..

 

[pipshower]

Now i have 1 question on Forex markets.I just tried on a demo account on MT4 with 3000 deposit and made 300 in 15 mins.

My question is that is it always this volatile? Because a lot of times in stocks what happens is that we go through this lean phase when nothing happens.I found that the Forex was like a realty stock chart on adrenaline/caffeine.

And is it worth getting into? I traded EUR/USD btw

Volatility is there ..Forex is the biggest daily turnover market in world.
But what made you money was not the volatility but rather your account size and leverage..

 

[aditya14]

Volatility is there ..Forex is the biggest daily turnover market in world.
But what made you money was not the volatility but rather your account size and leverage..

No but i traded 1 lot with 280 or so blocked.But yeah i guess reverse can(will in my case) happen also and at same speed.I just need to open an account and see how that goes.

Iam just learning this right now.Jan-Feb-March i would observe as equity markets promise fireworks this time so i`ll stick with em for now.

 

[sushant079]

I have a question,i don't knw if its previously asked,please point me there if its already asked..

When we(indians) transfer money to broker account from Ruppes to say USDollar,then ofc they will consider current USD/INR price.lets say it is 46.50

and we traded for a year and made good profits in forex....so now after a year we want to transfer that money back to rupees.
n say after year USD/INR is 43.50,then i get lesser money...as i get it in current price...
so isn't this a loss to us?? i mean i dont knw mayb im wrong..please help!

 

[sushant079]

You can go with Alpary .
They are far better than many brokers that many of our indian traders trade with it. They wont scam you for $200 lol..
The fact that the MT4 and datafeed they have , they pay far more $$$$$$...
Well with there directpro , thye have also become STP ..so no need to worry..
Go on...
Iforex is not recommended as of now ..having a call centre wont help...Alpary has office in Mumabi already..So that would be better ..Just a personal opinion..

please elaborate STP!
and one question!

as i am a student, i dont want to risk initially much.. i want to start with as minimal as $100 or lesser if possible(just consider this as throw away money just to get feel of real account trading and experience.i knw abt demo acctns but still..)...
i know Oanda has no min limit but i don't want that to be d only reason to consider....
so wat is ur opinion.. Oanda or Alpari? or any other?? please help!

 

[ag_fx]

I have a question,i don't knw if its previously asked,please point me there if its already asked..

When we(indians) transfer money to broker account from Ruppes to say USDollar,then ofc they will consider current USD/INR price.lets say it is 46.50

and we traded for a year and made good profits in forex....so now after a year we want to transfer that money back to rupees.
n say after year USD/INR is 43.50,then i get lesser money...as i get it in current price...
so isn't this a loss to us?? i mean i dont knw mayb im wrong..please help!

You are correct Sushant. You do run this risk of base currency fluctuation when you trade Forex or any international asset not denominated in INR.

 

[pipshower]

I have a question,i don't knw if its previously asked,please point me there if its already asked..

When we(indians) transfer money to broker account from Ruppes to say USDollar,then ofc they will consider current USD/INR price.lets say it is 46.50

and we traded for a year and made good profits in forex....so now after a year we want to transfer that money back to rupees.
n say after year USD/INR is 43.50,then i get lesser money...as i get it in current price...
so isn't this a loss to us?? i mean i dont knw mayb im wrong..please help!

That is what is the forex for big boys on long term..
Understand that sushant ..
Forex trading involved from studying these changes and long term price changes thats why earlier it was traded only by institutions ..
Well if you are really good forex trader , you must understand wen to fund the acct and when to withdraw funds ..That way you can easily understand and implement real forex profits ..This was method earlier used by people who were holding and who still hold the foreign currency accts in various banks and currencies..
Keep going!

 

[pipshower]

please elaborate STP!
and one question!

as i am a student, i dont want to risk initially much.. i want to start with as minimal as $100 or lesser if possible(just consider this as throw away money just to get feel of real account trading and experience.i knw abt demo acctns but still..)...
i know Oanda has no min limit but i don't want that to be d only reason to consider....
so wat is ur opinion.. Oanda or Alpari? or any other?? please help!

Lets talk abt STP
STP= Straight through processing
These are brokers who have made deal with a bank or multiple banks to act as order takers since bank act as market makers ..
The orders are directly i.e. straight through processed to the bank ...
Its just one step behind ECN..

Hope you get it..

Regards
Pipshower

 

[pipshower]

and one question!

as i am a student, i dont want to risk initially much.. i want to start with as minimal as $100 or lesser if possible(just consider this as throw away money just to get feel of real account trading and experience.i knw abt demo acctns but still..)...
i know Oanda has no min limit but i don't want that to be d only reason to consider....
so wat is ur opinion.. Oanda or Alpari? or any other?? please help!

$100 is very small money ..
But consider it to be $10000 and trade ..No matter which broker you choose..
Understand what is position sizing for that small acct which broker provides it ? Is broker registered or not ,what are spreads and then decide..

No broker meeting above criterias will scam you for $100 ..
Just my 2 cents..
Regards
Pipshower