Full time Indian Resident FOREX trader??

[AdaG]

I don't know why everybody is so much in a hurry to trade live!

I am learning from a person who has been trading live for the past 15 years. He put some conditions like, i can trade live only when i consistently do 30 profitable trades. If you make a negative trade even after 20th positive trade, you start again till 30 positive trades.

People spend 4 years to 6 years for graduation and post graduation but cannot wait for even an year to practice something that has the potential to change your future.

Next point is that when you start to trade live, you will put an amount of money which you can afford to lose. Trading, especially forex trading, is an emotional ride, which i mentioned to adag in a previous mail. Similar to the demo account where you can afford to lose, your first live account money should be something you can afford to lose.

If it is your money which you cannot afford to lose, your emotions are different, your risk taking levels are different and your confidence levels are different.

So practice, practice and practice and then start live trade with an amount you can afford to lose.

Hope this is useful!

And for those who keep on asking the feasibility of trading in forex, please have a look at previous threads. So many links have been posted which clearly indicate that you can open a forex account in another country. You do not need anything else.

I think its a pretty tough rule to trade....after 30 +ve trades if ur 1st live trade is -ve then you again do 30 +ve trades.
Its true that while learning to trade we should give it appropriate amount of time to learn every aspect of our strategy. But no study is complete without practicals. In order to start trading live we must know how it feels when ur real money is at stake. The condition is completely different when the bottle you are shooting at starts shooting back at you. So unless you know how does it feel to win or loose in the real world how can you prepare yourself psychologically.

So IMHO start with demo is obvious but once you feel confident about your trades in demo try live trading with low lots. Now I am not saying to jump into live with absolute confidence because initially it feels that you can win the world when you make 1000% return on demo a month.

 

[ash.paul]

IMO, demo trade untill you can achieve consistency in a row of six months, then go live with 20% of your capital kept aside for trading and if you dont feel any psycological pressure (u might get carried away emotionally) compared to demo account and at the same time if ur live a/c is also growing consistently as in demo for the 3 successive months then start adding another lot from the left over capital.

 

[imran.forex]

Any one from chennai here??

Im in chennai a franchisee for Trijaya pratama futures jakarta indonesia....you can come and join through us...we help you in learning trading and we also provide live trading calls (around 5 calls each 20 pips) in a day...

contact me at 09444379970

 

[knarendra]

Im not intresting in Currency trading.Im intresting in Foreign index trading as
Nasdaq, Dow , Nikkai. Yes, only index trading. Anybody help to me about brokers in india related to this.

 

[AdaG]

Im not intresting in Currency trading.Im intresting in Foreign index trading as
Nasdaq, Dow , Nikkai. Yes, only index trading. Anybody help to me about brokers in india related to this.

I have heard ICICIDIRECT provides some instruments related to NASDAQ and probably NYMEX too (oil etc), you might want to check them.

 

[pramitbrahmbhatt]

can you post brokers link where you are having demo account?

Hi you can use www.alpari.co.uk
they are opening there office in mumbai soon with local customer support and other localised dealing. contact me if you need any further help.

 

[devarvishal27]

i m a full time forex trader in banglore since 8months any one can ask me about technicals from banglore or from other

 

[AdaG]

i m a full time forex trader in banglore since 8months any one can ask me about technicals from banglore or from other

Hi Vishal, good to see a full timer here ...currently i am doing it on a part time basis.....how long had you been in trading business??

 

[kannamthanam]

Attn : AdaG

sir, please, can you tell me the reason to go in for forex trading in preference to trading say nifty or other index futures. I have gone through the material provided on the free forex trading platforms and my understanding is that you get to trade a very slow moving instrument ( compared to stock indices) with a very high leverage and perhaps you get to trade in the american / european/ japanese hours (or is it possible all through ?). As someone who has been trading the nifty index for a quite a while my feeling was, successful forex trading may tax your patience but it is something definitely do-able ! But then , instead of scaling up my trading levels in nifty what advantages are there in going in for forex with all the inherent uncertainties in dealing with some offshore firms without any statutory body assuring the counterparty guarantees etc. I know that forex is the biggest game in the town and all that and my understanding if it is just basic, I would be most obliged if you would be kind enough to clarify the above.

Thank you and best regards

k kannamthanam

 

[yasirdxb]

Attn : AdaG

sir, please, can you tell me the reason to go in for forex trading in preference to trading say nifty or other index futures. I have gone through the material provided on the free forex trading platforms and my understanding is that you get to trade a very slow moving instrument ( compared to stock indices) with a very high leverage and perhaps you get to trade in the american / european/ japanese hours (or is it possible all through ?). As someone who has been trading the nifty index for a quite a while my feeling was, successful forex trading may tax your patience but it is something definitely do-able ! But then , instead of scaling up my trading levels in nifty what advantages are there in going in for forex with all the inherent uncertainties in dealing with some offshore firms without any statutory body assuring the counterparty guarantees etc. I know that forex is the biggest game in the town and all that and my understanding if it is just basic, I would be most obliged if you would be kind enough to clarify the above.

Thank you and best regards

k kannamthanam

Although you are right about the decentralized nature of the fx market, there is some bodies to oversee the actions of the participants and brokers, like NFA and CFTC in US. fx market is highly volatile and can easily move hundreds of points in either way in any day. there is seldom any gap openings and the market is very liquid. the main advantage of the fx market is the leverage available. needless to say its harm for beginners and a gift for the experts.

by the way, are you from kerala? the name strikes familiar......... kannamthanam? are you the film producer or something?