Some people think that forex trading is like one another way of making money like share trading. But in reality it is not the fact. Forex trade differs in many ways than share trading.
Forex trading is not directly supported legellay by the Indian Goverment. However, there are many companies offering services in India in which you can trade for a limited volume by transferring funds through some of the payment gateway systems such as Liberty reserve, Alert pay, etc.,
Usually you can open an account with a start up in the range of USD $20 or above. The trade involves buying and selling currencies through currency exchanges such as EUROUSD, GBPUSD, etc.., You can trade for 24 hours between Monday and Friday. Saturday and Sunday is a holiday and the market remains closed.
To buy one lot ($1000 USD), you need not have to fund your account for $1000, rather you can do that even with $10 by selecting a leverage of 1:100. The more the leverage you choose, the more the profit/loss, hence more the risk. Unlike day trading, forex allows you to hold your transaction for several days and months until your particular transaction meets the desired profits. For this, you should have enough patience to wait and earn profits.
For those who wants to make quick money, they trade at high volume with high leverages. There are some experts providing quality tips about daily market conditions. A smart trader simply subscribe to these expert tips and trade accordingly to earn maximum profits and avoid losses. However, these tips are not always correct. On an average, about 70% of these tips are realistic.
If you engage in Forex trading without proper education, you might end up losing your whole money. Try with a demo account for a period of 15 days and observe your performance. Once you gain sufficient knowledge about all trading techniques, it is suggested you open a proper trading account and start trading with live money.
If you understand the concepts and trade with safe numbers, forex is a good option for one to make decent profits.
Forex trading is not directly supported legellay by the Indian Goverment. However, there are many companies offering services in India in which you can trade for a limited volume by transferring funds through some of the payment gateway systems such as Liberty reserve, Alert pay, etc.,
Usually you can open an account with a start up in the range of USD $20 or above. The trade involves buying and selling currencies through currency exchanges such as EUROUSD, GBPUSD, etc.., You can trade for 24 hours between Monday and Friday. Saturday and Sunday is a holiday and the market remains closed.
To buy one lot ($1000 USD), you need not have to fund your account for $1000, rather you can do that even with $10 by selecting a leverage of 1:100. The more the leverage you choose, the more the profit/loss, hence more the risk. Unlike day trading, forex allows you to hold your transaction for several days and months until your particular transaction meets the desired profits. For this, you should have enough patience to wait and earn profits.
For those who wants to make quick money, they trade at high volume with high leverages. There are some experts providing quality tips about daily market conditions. A smart trader simply subscribe to these expert tips and trade accordingly to earn maximum profits and avoid losses. However, these tips are not always correct. On an average, about 70% of these tips are realistic.
If you engage in Forex trading without proper education, you might end up losing your whole money. Try with a demo account for a period of 15 days and observe your performance. Once you gain sufficient knowledge about all trading techniques, it is suggested you open a proper trading account and start trading with live money.
If you understand the concepts and trade with safe numbers, forex is a good option for one to make decent profits.
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ReplyDeleteThis is an excellent work.. Many of the people think Forex is the share market process... Some differences are made the people to understand originals about forex.
ReplyDeleteI am very much pleased with the contents you have mentioned. I wanted to thank you for this great article. I enjoyed every little bit part of it and I will be waiting for the new updates.
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