Trade Forex from India also

[reddy142]

Newbies wish to make serious money/living by forex trading...this thread is for us. Please do post your questions, answers and suggestions here.

Please do not trade & learn....but...Learn and Trade.

 

[rserene84]

What broker do you use, what is your method of trading and how you do money management?

 

[reddy142]

I use avafx and I follow Technical Analysis tools like EMAs, MACD, Fibonnacci and little bit of Elliotwaves.

 

[Sadashiv Sawant]

How do you show your income to IT returns? As I am getting some difficulties to show it in IT Returns.How can I set it in leagul way ?
Sadashiv

 

[comm4300]

Newbies wish to make serious money/living by forex trading...this thread is for us. Please do post your questions, answers and suggestions here.

Please do not trade & learn....but...Learn and Trade.

Questions:
1. what would be the ideal capital [in rupee terms] to begin with?
2. what would be ideal leverage to opt for? so as not to blow the a/c in 1 bad trade?
3. deposit and withdrawals - how smooth are these?
4. and the IT part as Sadashiv Sawant asked.

thank you.

 

[reddy142]

There is nothing like minimum capital. It depends on your risk apetite. Anything above $500 (Rs. 25000 approx) is a good amount to start with.

Always use less than 10% of your capital as margin (Most important thing is use of stoploss - Markets can be irrational, longer than you can remain solvant).

Good training before you start trading, is equally important. Disciplined trading after start of trading is vital.

Deposits and withdrawals are also as easy as your indian trading accounts if you follow certain guidelines.

There are no clear guidelines on IT part, if you really earn that much profit better to pay as per Personal IT slabs to avoid any complications later.

All these are small hickups...when compared to potential of returns... all you need is discipline and good training & guidance (atleast initially)

 

[exnessshibin]

रेड्डी आप किसी भी राशि के साथ शुरू कर सकते हैं के रूप में समझाया. Exness में आप भी 1 डॉलर के साथ प्रारंभ (लेकिन 500 के साथ शुरू सुरक्षित है.) कर सकते हैं. यहाँ जमा और निकासी बहुत आसान है और स्थानीय भुगतान प्रणाली भी उपलब्ध हैं.

 

[cloudTrader]

What about the legalities of Money Transfer , will it not be violation of Remittance rules ?

 

[looser89]

one forex broker regulated by indian government. https://www.ocxindia.com/license-and-regulation.php. hope it is not scam anyone information about this

 

[throwawayacc123]

one forex broker regulated by indian government. https://www.ocxindia.com/license-and-regulation.php. hope it is not scam anyone information about this

I checked the site.

Where does it say 'licensed by Indian govt'. It only says licensed by Dubai govt.

and if it is licensed by Indian govt, What is the license number?