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Day Trading for a Living

  • #1,461
  • Oct 9, 2012 3:22am Oct 9, 2012 3:22am
Forex trading is ilegal in india ????..is it true...?

DEAR ALL FORUM EXPERT AND ADVISORS,

I CAME TO KNOW FROM BELOW LINK OF RBI (RESERVE BANK OF INDIA ) SITE THAT FOREX TRADING IS NOT ALLOWED FOR RESIDENCE OF INDIA..... IS IT TRUE ANY EXPERT COMMENTS OR INFORMATION ON THIS PLEASE.....
CAN NONE FROM INDIA DO FOREX TRADING ??????????????
FORUM PLEASE SHARE YOUR EXPERT COMMENTS AND ANY INFORMATINO UPDATE ON THIS !!!

KINDLY FIND BELOW LINK
Reserve Bank of India

  • #1,462
  • Edited 4:31am Oct 12, 2012 4:20am | Edited 4:31am
eu short 1.2976. TP 1.29505. Entered on the daily resistance pivot and quarter number, as well as being in a nice supply area on the bigger TF.

SL is at break even should it continue up.
Attached Image (click to enlarge)
Click to Enlarge Name: 1.jpg Size: 99 KB
  • #1,463
  • Oct 12, 2012 4:49am Oct 12, 2012 4:49am
took 10 just on Dax, holding a Gold Long at the moment small though.

Fingers crossed I've been paid so can add some much need $$'s the account and hopefully start taking this seriously.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,464
  • Oct 12, 2012 4:49am Oct 12, 2012 4:49am
Looks like Gold and DAX turning to trend down, should drag EU down with it
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,465
  • Dec 19, 2012 9:23am Dec 19, 2012 9:23am
Back to the forum
EU into supply.
Too late to buy, too early to sell
Attached Image (click to enlarge)
Click to Enlarge Name: eu.png Size: 26 KB
Follow the smart money. Follow the probability.
  • #1,466
  • Dec 24, 2012 5:28am Dec 24, 2012 5:28am
several days later
long biased now.
Attached Image (click to enlarge)
Click to Enlarge Name: eu.jpg Size: 69 KB
Follow the smart money. Follow the probability.
  • #1,467
  • Dec 24, 2012 5:48am Dec 24, 2012 5:48am
Hey gang. New member here. Coming over from IHUB where I'm a moderator on the Green Room currency board there.

Over 5 years experience trading the markets but specializing now in just Forex. Specialty is Elliott Wave Analysis with emphasis

on pure price action and very few if any indicators...more of a naked trading style. Trend following or trend reversals work either way...I'm not

really biased either way. Just wanna take some pips out of the market each week.

Wanted to outline a current trade I'm entering this morning on CAD CHF. Current pattern shows a 5th wave ending cycle here or very near it now.

Strong positive divergence on the TDI helps confirm the 5th wave analysis here. Still could make one more new low. I always allow for more slack

when trading the longer time frames. My time frame of choice for trading is the 15 minute chart but I use the longer time frames to line up trend lines, fib retraces, and general patterns. Then I typically drop to the 15 minute and 1 hour charts for entries and exits.

Currently long on CAD CHF at 0.9203 with a minimum target of 0.9270
Attached Image (click to enlarge)
Click to Enlarge Name: cad-chf-4hr.jpg Size: 112 KB
  • #1,468
  • Dec 24, 2012 10:49am Dec 24, 2012 10:49am
Closed this trade early since it is Christmas Eve and light volume can cause some weird things to happen. Had 3 trades running here...total profit is 112.6 pips.

Merry Christmas Everyone! :-)

Quoting pennies2007
Hey gang. New member here. Coming over from IHUB where I'm a moderator on the Green Room currency board there.

Over 5 years experience trading the markets but specializing now in just Forex. Specialty is Elliott Wave Analysis with emphasis

on pure price action and very few if any indicators...more of a naked trading style. Trend following or trend reversals work either way...I'm not

really biased either way. Just wanna take some pips out of the market each week.

Wanted to outline a current trade I'm entering this morning on CAD CHF....
  • #1,469
  • Dec 27, 2012 6:06am Dec 27, 2012 6:06am
Quoting pennies2007
Closed this trade early since it is Christmas Eve and light volume can cause some weird things to happen. Had 3 trades running here...total profit is 112.6 pips.

Merry Christmas Everyone! :-)
Good job Low volume, careful trading.
Follow the smart money. Follow the probability.
  • #1,470
  • Dec 27, 2012 11:54am Dec 27, 2012 11:54am
Quoting expertarts
Forex trading is ilegal in india ????..is it true...?[indent]DEAR ALL FORUM EXPERT AND ADVISORS,

I CAME TO KNOW FROM BELOW LINK OF RBI (RESERVE BANK OF INDIA ) SITE THAT FOREX TRADING IS NOT ALLOWED FOR RESIDENCE OF INDIA..... IS IT TRUE ANY EXPERT COMMENTS OR INFORMATION ON THIS PLEASE.....
CAN NONE FROM INDIA DO FOREX TRADING ??????????????
FORUM PLEASE SHARE YOUR EXPERT COMMENTS AND ANY INFORMATINO UPDATE ON THIS !!!

KINDLY FIND BELOW LINK
Reserve Bank of India...
Yes, it is illegal to trade forex on margin in India. Please post your questions in the correct thread below,
http://www.forexfactory.com/showthread.php?t=69923

Brokers are not stopping you from opening account because they want you to deposit and then lose all the money to them. When you make money and want to withdraw, that's when it is illegal under RBI rules.
No longer trading forex. Looking for full time job.
  • #1,471
  • Dec 28, 2012 7:18am Dec 28, 2012 7:18am
Will be back in the game in the new year, not done much trading over the past couple of months.
  • #1,472
  • Dec 31, 2012 7:40am Dec 31, 2012 7:40am
Happy New Year
Ranging, low volume, don't trade.
Follow the smart money. Follow the probability.
  • #1,473
  • Dec 31, 2012 7:43am Dec 31, 2012 7:43am
Quoting Fractal
Happy New Year
Ranging, low volume, don't trade.

Shame last week was low volume but trending and awesome!
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,474
  • Jan 2, 2013 5:34am Jan 2, 2013 5:34am
Quoting Turveyd
Shame last week was low volume but trending and awesome!
Don't worry. Every day has chance
When will the mkt be stable. I see the spread of EU still high.
Follow the smart money. Follow the probability.
  • #1,475
  • Jan 2, 2013 5:57am Jan 2, 2013 5:57am
Quoting Fractal
Don't worry. Every day has chance
When will the mkt be stable. I see the spread of EU still high.
Bigger than GU is, 2.7 area I think today normally 1.6 been high for weeks, strange.
Nothing to it, but to do it!!! Stick to the plan FOOL!!!!
  • #1,476
  • Jan 2, 2013 6:20am Jan 2, 2013 6:20am
Quoting Turveyd
Bigger than GU is, 2.7 area I think today normally 1.6 been high for weeks, strange.
Maybe big traders are still on holiday
Follow the smart money. Follow the probability.
  • #1,477
  • Edited 6:35am Jan 3, 2013 5:11am | Edited 6:35am
BUY EU @ 1.3095 SL @ 1.3093
SL@BE now. free trading
Attachment
TP plan:
Attached Image (click to enlarge)
Click to Enlarge Name: eu2.jpg Size: 225 KB

Get nothing
Follow the smart money. Follow the probability.
  • #1,478
  • Jan 3, 2013 7:03am Jan 3, 2013 7:03am
Happy New Year.

I will start posting in this thread as well. I am not a professional yet but hope to be soon.

I am trading price action on short term and long term charts.

Today I sold the GBPUSD off the daily pin bar for 80 pips profit and I also sold the EURUSD on a rejection from a previous support on the 1 hour for a quick 20 pips profit.

Hopefully the resy of 2013 can be as kind.
  • #1,479
  • Jan 3, 2013 7:26am Jan 3, 2013 7:26am
long eu @ 3090, tp 3275, sl 2975.

Lets get this new year off to a good start.

Will close half the position at 3158.
  • #1,480
  • Jan 3, 2013 7:45am Jan 3, 2013 7:45am
Quoting GDR3k
long eu @ 3090, tp 3275, sl 2975.

Lets get this new year off to a good start.

Will close half the position at 3158.
Gd enter price
seeing the news afraid to enter should take some pips in the first trade, need to review my TP strategy.
Follow the smart money. Follow the probability.
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