hii all,INDIAN CURRENCY PAIR TRADE
- Thread starter ayush2020
- Start date
First of all you need to know how the pip rate is calculated.
Which is as given below.
Suppose you have a broker who gives you standard Mini lots ie 10000 units to trade.
And now you expect Usd/Inr to go up.
Which means you want to take a long.
Which means you want to sell the counter currency and buy base currency.
So lets suppose you trade 10000 units.
And present exchange rate is 44.67
Which means you sold 44.67 X 10000 =446700 INR to buy 10000 USD
Now supposedly your prediction is correct.
And USD/INR rises.
to 44.85
Then now your USD are worth more INR.
To be exact they are worth 448500 INR.
Then you close your position.
448500-446700=1800 INR and bag the difference.
Convert this into profit in USD
1800/44.85=40.133 USD profit.
Now calculate the $ per pip which is
40.133/18=2.22 USD/pip.
There you go,which means you will get 2.22 usd per pip move ie per decimal point move in usd/INR
So say usd/inr moved from 44.67 to 44.68 it has moved 1 pip so your profit will be 2.22 usd if you were trading 10000 units ie a mini lot.
Considering the usd inr daily movement and predictability the average movement is around 25 pip plus.
Which means a profit potential of 50 usd plus per day.
if you are just starting out then it will be micro lots so.
Average profit potential is
5 usd plus per day.
Thats 250 Rs profit per day.
the leverage assuming is 50:1 which is good.
so you just need 20 usd margin in your account to trade micro lots in a good brokerage and start making money from just a deposit of 40 usd.
40 i say because 20 is margin you need extra money on top of that too to trade.
Usd/Inr is very predictable using TA alone and of-course fundamentals. too.
Stay tuned to RBI announcements and of-course plot your S/R,you will do just fine in the market.
In short just learn TA and stay tuned to news.
And find good buddies on forums who trade usd/inr this will ease up situation.
And use same procedure for calculating pip rate for eur/inr and gbp/inr.
Warm Regards
Taz
Which is as given below.
Suppose you have a broker who gives you standard Mini lots ie 10000 units to trade.
And now you expect Usd/Inr to go up.
Which means you want to take a long.
Which means you want to sell the counter currency and buy base currency.
So lets suppose you trade 10000 units.
And present exchange rate is 44.67
Which means you sold 44.67 X 10000 =446700 INR to buy 10000 USD
Now supposedly your prediction is correct.
And USD/INR rises.
to 44.85
Then now your USD are worth more INR.
To be exact they are worth 448500 INR.
Then you close your position.
448500-446700=1800 INR and bag the difference.
Convert this into profit in USD
1800/44.85=40.133 USD profit.
Now calculate the $ per pip which is
40.133/18=2.22 USD/pip.
There you go,which means you will get 2.22 usd per pip move ie per decimal point move in usd/INR
So say usd/inr moved from 44.67 to 44.68 it has moved 1 pip so your profit will be 2.22 usd if you were trading 10000 units ie a mini lot.
Considering the usd inr daily movement and predictability the average movement is around 25 pip plus.
Which means a profit potential of 50 usd plus per day.
if you are just starting out then it will be micro lots so.
Average profit potential is
5 usd plus per day.
Thats 250 Rs profit per day.
the leverage assuming is 50:1 which is good.
so you just need 20 usd margin in your account to trade micro lots in a good brokerage and start making money from just a deposit of 40 usd.
40 i say because 20 is margin you need extra money on top of that too to trade.
Usd/Inr is very predictable using TA alone and of-course fundamentals. too.
Stay tuned to RBI announcements and of-course plot your S/R,you will do just fine in the market.
In short just learn TA and stay tuned to news.
And find good buddies on forums who trade usd/inr this will ease up situation.
And use same procedure for calculating pip rate for eur/inr and gbp/inr.
Warm Regards
Taz
Hey Taz ,
There are no mini lots only 1 lot size is there & that is 1,000 in case of all 3 of them where as 1,00,000 for jpy/INR pair .
The minimum tick size is .0025 paisa ie from 46.0000 to 46.0025 or 45.9975 .
on a move of 1 paisa ie from 46.0000 to 46.0100 you will earn INR 10 it means 1,000 Rs for a Move of INR 1 !!
Margin required is around 5% if total value of lot !! till now nothing like of MT4 is available but there are some websites available who works as data vendor !!
Hi,
RBI and SEBI has permited to trade as said 4 currency pairs, unlike the international markets. indian forex market trade between 9am to 5b pm as IST.
such trade system is good for intra day trading.
on any given day the trade take move as
USD INR-0.0025 TO 0.40 PAISA NOT MORE
EUR INR 0.0025 TO 0.30+
GBP INR 0.0025 TO 0.40+
JPN INR 0.0025 TO 0.40+
its good market is under the regulations of SEBI & RBI, but its very risky no stop loss or profit booking will be made once the market closes by 5 pm, any impact of international market will lead into profit or loss , the trade will not under control.
Hope RBI & SEBI will make 24 hours currency trade so we can safe guard the currency positions.
any more suggestios or for technical trends , you please welcome.
ATW,
xxxxxxx
RBI and SEBI has permited to trade as said 4 currency pairs, unlike the international markets. indian forex market trade between 9am to 5b pm as IST.
such trade system is good for intra day trading.
on any given day the trade take move as
USD INR-0.0025 TO 0.40 PAISA NOT MORE
EUR INR 0.0025 TO 0.30+
GBP INR 0.0025 TO 0.40+
JPN INR 0.0025 TO 0.40+
its good market is under the regulations of SEBI & RBI, but its very risky no stop loss or profit booking will be made once the market closes by 5 pm, any impact of international market will lead into profit or loss , the trade will not under control.
Hope RBI & SEBI will make 24 hours currency trade so we can safe guard the currency positions.
any more suggestios or for technical trends , you please welcome.
ATW,
xxxxxxx
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