It’s not secret that Forex trading can make you mad profit if you’re it properly (or get a trading system to call it for you). Today alone I made over $800 in profit from one trade and in just minutes. EUR/USD; bought at 1.5596 and sold at 1.5677-check the charts on DailyFX for evidence of the numbers-today is the 25th of June. I could have made even more if I wasn’t paranoid and clicked the magic button (it went all the way up to 1.568x).
Is Forex Trading not valid in India? You can trade forex in India, as well as any other country. Many forex trading platforms are Internet base and all you need is a means to deposit money which is generally done…
An There’s So Much More To Discuss
A few minutes of sitting in front of my PC turned $5000 into over $5800; how much did you make today? I’m not looking to sound arrogant (though that sentence totally does) I’m just making it clear you can turn this into a job replacement.
Let’s discuss the job replacement option first; do not go out and quit your job then say ‘let’s get our Forex on! ‘ – that’s just not smart. What you got to do first is familiarize yourself with Forex trading or use a trading system (like I do). Regardless of which option you choose you should play on a demo account for a period of at least 2 months. Demo accounts enable you to trade with ‘play money’ to find out if you can profit; it’s brilliant. If you are going 100% solo (no trading system involved) I recommend practicing longer than 2 months but… it’s up to you (going solo takes a great deal of learning and dedication man. .. I’m talking years).
QUESTION: what a beginner should do to for stock trading practise in india?hi i am akshay 22, jamnagar, gujarat, india. I am new to stock trading. Have never done it before but doing a lot of market research lately. Now before stepping into full real time trading, i wantt to first practise it in a demo account. But i am not sure there are demo trading accoutnts in stocks trading in india (although there are a lot in forex trading). Please tell me what a begnner should do in a stock market. Should i go to the nearest broker in my locality or open online a demat account with something like share khan or angel broker or india infoline. is it necessary to go to a broker and take his advise or i can get sufficient guidance online when i open a demat account. Please dont give vague answers. Tell me something on which i can really do something for extra informtation i am going to trade with 1 lac capital and am more interested in nifty options. i want to trade only intra day and not long term or medium term
Try making your own account in an excel spreadsheet, or try wallstreetsurvivor.com
Too early to do intra day exp at present market. My only suggestion is know it and use it.. Follow the markets and companies share very keenly atleast for 2-3 Months learn it and invest it.
I think you should do the same thing which every individual does when he is new in any field and that is learn and gather information about it. Since you are new in the field of stock trading it is better you gain knowledge about it as a lot of information is available on the internet. It is better to plan investment only after having knowledge about that field and it is better you visit mansukh, religare or even india bulls and bajaj because you will get the required information which will help you out in understanding the market
If you are new to trading options is not the thing to trade, because there are lot of calculations involved moreover options price are like ice creams which will lose its value as the expiry nears. best advise is, first you start with virtual trading on your own on a worksheet and follow the stock price movements based on news and global cues, try to understand the fundamentals involved and very important just focus only on maximum 10 stocks of your choice or listen to dedicated channels like NDTV-profit,CNBC and many more and decide which stocks best suits you. There are brokers who allow margin trading for intraday and futures plus where the leverage is high and as well as losses could also be very high. Trade only when you clearly understand the market sentiments moving averages and speculations because even if the fundamentals are very strong the prices can still go low purely based on speculation and sentiments. if you can make profit within 3 months on virtual trading then you have a chance in intraday.
Once you understand how to trade, when to trade, why to trade and feel confident you can make consistent profit THEN you do live trading (using your real money). Or you can follow in my footsteps and use a trading system for 2 months on a demo account, make sure there’s profit to be taken and then after the 2 months start using your real money; it’s up to you.
Moving The Discussion Forward
Trade for a solid year or so and if you know you can make a consistent income or you have enough saved up for all your profit then you may wish to turn it into a job replacement. Also if you are trading solo make sure you are making equal or greater than you would working your regular job; there’s no point quitting a high paying job only to trade for less money. Again, that’s just not smart.
The second option is using Forex trading for extra income; this requires an automated trading system though. If you are working the typical 9-5 job or just a job that is not paying enough you can configure it so you have two streams of income with no extra effort; this is ideal for anyone looking to go out of debt, someone who just needs extra money for groceries (or anything else) or the person who just wants to enjoy the finer things in life.
This is actually a fairly simple process; you buy an automated trading system, use it with a demo account for 2 months and see if you are able to make profit using it. If you can, you keep this trading system and move on. If you did not see any profit with it you have a refund (make sure they’ve got a decent money-back guarantee) and try a different trading system.
Now you just continue working while the trading system works its automated-magic; this way you will have two streams of income. Every month you take your profits and split them in two; half gets saved or spent and the rest half gets reinvested in Forex trading (increases your capital which increases your returns, aka your profit). Repeat this step as long as you want/as long as you need extra money.