Legal ways to do International forex currency trading for Indians - a discussion

howardroark

Well-Known Member
#11
Why FX trading is mind boggling?
1. Low entry cost - 1000$ ... 70,000 Rs ... Even a road side beeda shop needs more investment ...
2. Low Logistics - Decent Comp with 2 GB ram, 1 MBPS net speed is enough ... Again road side beeda shop needs more logistics ...
3. 24/5 market - anybody and everybody can trade, whenever 1 is free. Stock markets work only 9 hours ...
4. 24/5 market - No daily gap up / gap down ...
5. No contract period - Can keep a trade open for very very long long time
6. No additional costs like storage, transportation, wastage, packing etc ...
7. Do not need to wait for any customer ... Trades are directly executed with banks ...
8. No need to give any credit ... Most businesses are run on credit ..
9. No qualifications required ... Lotta common sense is what needed ...
10. High leverage - Brings cost / trade down ...
11. Very less commission compared to stocks, options & MCX
12. Very high Return On Investment (ROI)

As far as the funding and all important withdrawal is concerned, I use both Local bank cash deposits / RTGS / NEFT / IMPS and cash transactions as well ... Since 9 years and I never faced any issues till now ...
As far as IT is concerned (Lotta people keep worrying about this, even without a live trading account or with 100$ account), I trade 70,000$ worth of accounts spread between 3 different brokers and my auditor takes care of all my IT filing and I have never faced any issues from IT department also ...
If any one wants serious help / advice reg FX trading, I'm more than willing to help ...
Stay in Green ...
 

vijkris

Learner and Follower
#15
Unfortunately, all prop trading firms in India want all the traders (including pro traders with sufficient trading history) to undergo paid training program ...
Somehow, this is not done and prop firms abroad dnt hv this condition ...
ya true, for the first month we have to pay. That reduces the credibility.
2nd month they can give any excuse and remove us from the firm.
 
#16
Why FX trading is mind boggling?
1. Low entry cost - 1000$ ... 70,000 Rs ... Even a road side beeda shop needs more investment ...
2. Low Logistics - Decent Comp with 2 GB ram, 1 MBPS net speed is enough ... Again road side beeda shop needs more logistics ...
3. 24/5 market - anybody and everybody can trade, whenever 1 is free. Stock markets work only 9 hours ...
4. 24/5 market - No daily gap up / gap down ...
5. No contract period - Can keep a trade open for very very long long time
6. No additional costs like storage, transportation, wastage, packing etc ...
7. Do not need to wait for any customer ... Trades are directly executed with banks ...
8. No need to give any credit ... Most businesses are run on credit ..
9. No qualifications required ... Lotta common sense is what needed ...
10. High leverage - Brings cost / trade down ...
11. Very less commission compared to stocks, options & MCX
12. Very high Return On Investment (ROI)

As far as the funding and all important withdrawal is concerned, I use both Local bank cash deposits / RTGS / NEFT / IMPS and cash transactions as well ... Since 9 years and I never faced any issues till now ...
As far as IT is concerned (Lotta people keep worrying about this, even without a live trading account or with 100$ account), I trade 70,000$ worth of accounts spread between 3 different brokers and my auditor takes care of all my IT filing and I have never faced any issues from IT department also ...
If any one wants serious help / advice reg FX trading, I'm more than willing to help ...
Stay in Green ...
Hello - can you suggest which trader I could deal with for my trading? I am looking for a reliable broker that offers MT4 support.

Thanks
Vicky
 

pannet1

Well-Known Member
#17
Why FX trading is mind boggling?
1. Low entry cost - 1000$ ... 70,000 Rs ... Even a road side beeda shop needs more investment ...
2. Low Logistics - Decent Comp with 2 GB ram, 1 MBPS net speed is enough ... Again road side beeda shop needs more logistics ...
3. 24/5 market - anybody and everybody can trade, whenever 1 is free. Stock markets work only 9 hours ...
4. 24/5 market - No daily gap up / gap down ...
5. No contract period - Can keep a trade open for very very long long time
6. No additional costs like storage, transportation, wastage, packing etc ...
7. Do not need to wait for any customer ... Trades are directly executed with banks ...
8. No need to give any credit ... Most businesses are run on credit ..
9. No qualifications required ... Lotta common sense is what needed ...
10. High leverage - Brings cost / trade down ...
11. Very less commission compared to stocks, options & MCX
12. Very high Return On Investment (ROI)

As far as the funding and all important withdrawal is concerned, I use both Local bank cash deposits / RTGS / NEFT / IMPS and cash transactions as well ... Since 9 years and I never faced any issues till now ...
As far as IT is concerned (Lotta people keep worrying about this, even without a live trading account or with 100$ account), I trade 70,000$ worth of accounts spread between 3 different brokers and my auditor takes care of all my IT filing and I have never faced any issues from IT department also ...
If any one wants serious help / advice reg FX trading, I'm more than willing to help ...
Stay in Green ...
And one more thing ...

If you have Beeda shop if no one buys your Beeda, you will have your Beeda to carry home .... In FOREX, if can make loss and loose your entire capital in one day.

Your Beeda Shop may have competition from similar Shops and bigger shops. In FOREX, imagine like you are competing against Ambani's Beeda shop. You are winning because Ambani is not determined to WIN. Thats all.

These guys have invested Millions in taking away your few dollars without even watching their screen. Mind it.
 

howardroark

Well-Known Member
#19
Hello - can you suggest which trader I could deal with for my trading? I am looking for a reliable broker that offers MT4 support.

Thanks
Vicky
All the brokers provide MT4 terminal ...
I trade with ...
Hantec Markets, LiteForex, Uniglobe markets and Exness ...
Hope it helps ...
Stay in Green
 

howardroark

Well-Known Member
#20
And one more thing ...

If you have Beeda shop if no one buys your Beeda, you will have your Beeda to carry home .... In FOREX, if can make loss and loose your entire capital in one day.

Your Beeda Shop may have competition from similar Shops and bigger shops. In FOREX, imagine like you are competing against Ambani's Beeda shop. You are winning because Ambani is not determined to WIN. Thats all.

These guys have invested Millions in taking away your few dollars without even watching their screen. Mind it.
Market is Universal, Infinite and Relative ...
It does not care about any individual trader ... Be it Ambani or me or you ...
Any traditional business will have so many different variables ...
In Market, IT IS THE TRADER AND HIS EDGE .. OR LACK OF IT ...
 

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