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Trading in India

  • #41
  • Apr 3, 2008 2:18am Apr 3, 2008 2:18am
Indians dont want to join forex because the Bull in the stock exchange bourse dont bring luck
  • #42
  • Apr 3, 2008 3:16am Apr 3, 2008 3:16am
Quoting forexlion
It seems there are very few traders from India

Anyways here are some annual charts
Namaste Forexlion ji, you're doing a great job here in trying to bridge the indian fx trading community!

Do you have a system/template?

Regards
  • #43
  • Apr 3, 2008 5:35am Apr 3, 2008 5:35am
Ok....Im from India...hope we can work together to achieve success.

EU is looking very bearish....Short position should bring in nice pips.

CADJPY looks bullish..going long.

Im not posting any charts as i just trade based on my experience plus some basic tools like bollinger bands, momentum, Support, resistance tools plus panchang

Todays Yog is Subha...looks good to me
  • #44
  • Apr 6, 2008 6:56pm Apr 6, 2008 6:56pm
Hi ForexLion,

I'm from India too. currently residing in the U.S. Could you give more pointers about your trading style please?

Thanks
Ram
  • #45
  • Aug 9, 2008 5:22pm Aug 9, 2008 5:22pm
hello all,
which broker do you use for trading online from india.

regards,
abhishek.
  • #46
  • Aug 9, 2008 6:17pm Aug 9, 2008 6:17pm
Quoting availdollars
Really good info but the problem is when u approach the bank they r asking for documentary proof for reason for sendng the $ to your broker (they say fx is for margin n hence illegal) n the broker says that is ur problem n indian banks r very uncooperative in sending ur rupes in $ vide wiretransfer.
Has any one send wiretransfr thru any indian bank? if yes which bank also have u done the transaction in mumbai so i can approach the same bank with ur intro
HDFC....just scribble something on the form they give you for wire transfer.
  • #47
  • Aug 10, 2008 12:27am Aug 10, 2008 12:27am
hey guys wanted to know how much tax is charged on FOREX PROFITS???
  • #48
  • Aug 17, 2008 10:26pm Aug 17, 2008 10:26pm
Quoting bksujal
hey guys wanted to know how much tax is charged on FOREX PROFITS???
Fx is taxable in India as Business income.
  • #49
  • Aug 17, 2008 10:31pm Aug 17, 2008 10:31pm
Trading GJ or GBPJPY.

My trading style is longterm, on weekly charts, since I consider smaller time frames as just waste of time and mental peace.

First draw Fibonacci retracement from top 251.07 to bottom 192.52
as shown in the chart below.
Attached Image (click to enlarge)
Click to Enlarge Name: gj2.gif Size: 11 KB
  • #50
  • Aug 17, 2008 10:34pm Aug 17, 2008 10:34pm
now for the fun part of it, come down to weekly and see what we have here.

we have a trend down to 192 area with 206.33 holding as resistance, thats over +1000 pips to go.

The trades on weekly may take one or two weeks to complete, sometimes more, but they do complete. So, weekly trading does demand a lot of patience.
Attached Image (click to enlarge)
Click to Enlarge Name: gj.gif Size: 10 KB
  • #51
  • Aug 17, 2008 10:38pm Aug 17, 2008 10:38pm
hey fxlion is there any particular percentage of income charged? Or it varies?
  • #52
  • Aug 18, 2008 12:06am Aug 18, 2008 12:06am
Quoting bksujal
hey fxlion is there any particular percentage of income charged? Or it varies?
Foreign exchange earned in any form is fully taxable, there is no percentage.
  • #53
  • Aug 18, 2008 1:10am Aug 18, 2008 1:10am
Quoting forexlion
Foreign exchange earned in any form is fully taxable, there is no percentage.
k thanks a lot for that info
  • #54
  • Aug 18, 2008 6:18am Aug 18, 2008 6:18am
EURJPY
Attached Image (click to enlarge)
Click to Enlarge Name: ej.gif Size: 13 KB
  • #55
  • Aug 18, 2008 6:19am Aug 18, 2008 6:19am
GBPUSD
Attached Image (click to enlarge)
Click to Enlarge Name: gu.gif Size: 12 KB
  • #56
  • Aug 18, 2008 8:50am Aug 18, 2008 8:50am
Quoting forexlion
GBPUSD

You doing a great job. Keep it up bro!

I was born and brought up in India, but now live in Singapore.
  • #57
  • Aug 18, 2008 8:54am Aug 18, 2008 8:54am
anyone here trades gold? Nice 6 dollar move from the break of the upper line of the ptchfork
Attached Image (click to enlarge)
Click to Enlarge Name: gold.gif Size: 17 KB
  • #58
  • Aug 18, 2008 8:54am Aug 18, 2008 8:54am
Quoting Blue bottle
You doing a great job. Keep it up bro!

I was born and brought up in India, but now live in Singapore.
Any Indians in singapore doing fx trading, pls come forward..
  • #59
  • Aug 18, 2008 9:00am Aug 18, 2008 9:00am
Quoting bksujal
anyone here trades gold? Nice 6 dollar move from the break of the upper line of the ptchfork

I am not trading GOLD,

but this chart is from Elliott wave thread..
Attached Image (click to enlarge)
Click to Enlarge Name: gold 16-8-2008 2.gif Size: 17 KB
  • #60
  • Aug 18, 2008 9:02am Aug 18, 2008 9:02am
hey blue bottle it might be technically correct but fundamentally I don't know if it could reach that far. Since I am a day-trader I really don't consider long time frames.
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