Million Dollar Granny

An old woman named Frau Ingebor Motz has gained 1 million dollars in Foreign Exchange market.

“Thanks to Forex market I became one of the most successful women in Germany despite being unemployed. It gave me a chance to earn a great amount of money. At present I gain 5000 – 10000 dollars per day and I guess that it was not my limit. I am not yet satisfied with what I have obtained”, she says.

It turns out that acquiring a new profession, having a progress and being a success are quite possible at every age and the example of Frau Motz is the best proof of it. Even if you are living the ninth decade of your life, everything is ahead.

Today the old woman is considered the most successful private investor. And young traders have to do nothing but envy her professionalism.

Тill the age of 48 Frau Motz was a common housewife, who was holding the house and bringing up her children. She entered Forex market 10 years ago for the first time. It was her accountant husband that provoked her to dive into that world. Once during a quarrel he scolded her: “You have never been smart enough to earn money”.

These words hurt her greatly and Mrs. Frau intended to prove him that he is not right. Unfortunately the death came earlier. Her husband died leaving her an inheritance of some securities. During 10 years she managed to create an investment package costing over one million euro from securities costing pennies.

So, presently the old woman is buying new securities, is trading in Forex market and in addition to it she receives a scholarship. “The retirement age is not the reason to bring everything to an end”, she says.

Can this example be repeated in Forex India?

New Promo Video Of IFC Markets

I watched this video quite by chance and decided to share my thoughts with you.

History of Foreign Exchange Part 2

History of Foreign Exchange Part 2 | See: Part 1

Floating Exchange Rates

According to the announcement made in 1971 by Richard Nixon, United States would not replace dollar for gold any more. This was the start of  Bretton Woods system disintegration. And later in 1976, due to the Jamaica agreement Bretton Woods system was completely collapsed leading to a system of floating exchange rates.
Since then, depending on the power of economy that prints the money,  currencies fluctuate and have floated in value against one another.  The value of currencies is affected by various factors like interest rates, retail sales, housing numbers, non-farm payroll, etc.

The Forex Market

After the abandoning of Bretton Woods system, institutional investors and banks were the only leading players in the Forex market. In order to trade one was to have great sum of money.
In 1994  Forex exchange appeared already online and gave the necessity of opening Forex brokers. Forex brokers made it possible for common individuals to participate too, as the latters  could trade with  leverage. There was no necessity of  putting up a great sum of money for market trading.

The Market Today

At present Forex market is considered to be the largest financial market on the earth. More than $4 trillion a day pass through the market by its participants. Then, why to give so much importance to the history of foreign exchange? After having studied the long way of  “Gold Standard” , we can say that it would be nice to get a minute fraction of that $4 Trillion each day. Now it’s time to look through the site and learn about Forex trading to be able to make a profit.
Source

History of Forex Part-1

History of Foreign Exchange

The history of foreign exchange greatly differs from that of other financial markets around the world. In this connection it would be relevant to mention the words of a sapient  man who considered that it’s really important for one to know and remember the history and the past of his antecedents, otherwise he’ll  always remain a child. If we try to relate this idea with  Forex  market it would mean that unless one is aware of how  it  came into being he will always remain a novice.  So the fundamental points of Forex history and its beginning are given below.

The Gold Standard

The term “Gold Standard" is hardly unknown to anyone. It stands for indicating something which is the best. It came forth in 1875 as a currency system. In this period countries made decision to fix the exchange rate by gold. So, currencies as backed by gold appeared. The country ought to have certain amount of gold for the given currency whether it’s dollar or not.

Bretton Woods System

Countries were short of money in the period of  World War I and World War II. Some countries like United States and Germany, that were included in the wars,  for some period of time didn’t make use of “Gold Standard” , and in order to provide sufficient money for wars they printed up more money.
Seventy representatives from the Allies made a decision in 1944 to create such a financial system that would give all dominant countries an opportunity to be integrated  in it. They made a system covering fixed exchange rates for currencies. They substituted the “Gold Standard” with US dollar making the latter overall reserve currency. The rest of the countries consequently estimated the value of the dollar.
Bretton Woods also contributed to the  formation of International Monetary Fund or IMF, the International Bank for Reconstruction and Development and the General Agreement on Tariffs and Trade.
Source

Rally Trade

2 DAYS LEFT

 Dear Forex traders, hurry up to register for the contest in IFC Markets. The contest will be held from February 4, 2013 to February 28, 2013. The conditions of participation are the following: you should open a new Real account and fund it with 100USD (leverage is up to the participant). A contestant with the largest trading account balance will be recognized as the first place winner. The same criteria will be applied to recognize other winners taking the rest of the winning places (from 2 to 5).

See More

ABOUT FOREX TRADING

TECHNICAL LOOK ON THE GROWTH OF METALS: FOREIGN EXCHANGE IN INDIA

TECHNICAL LOOK ON THE GROWTH OF METALS: FOREIGN EXCHANGE IN INDIA

Hello, India. Today I am going to familiarize you with one of the unique phenomena, occurring in Forex. It is Diamond pattern.

The Diamond figure is a rare graphical model in technical analysis and especially in Forex market. Sometimes it is called Diamond Pattern. The structure of the Diamond shaped pattern has the exact form of the precious stone, from here comes its name – Diamond. In case of its right identification Forex trader can make quite huge profits.
As a classic graphical figure the shape of Diamond is formed from divergent and convergent trend lines, which are parallel to each other.
Recently the current figure could be noted on 4-hour graphic of new instrument XAUXAG, which is gradually becoming more and more popular among Forex traders.
At the end of 2012 the prices of Gold and Silver remarkably fell. The descent of metals have started since the beginning of October: Gold fell from 1795.78USD to 1625.80USD per ounce, and Silver fell from 35.36USD to 29.21USD. You can find the detailed information about the results of the investigation on IFC Markets website, which offers a unique trading instrument, XAUXAG. Traders do not need to make transactions on pairs XAUUSD or XAGUSD, they can trade with XAUXAG (Gold versus Silver).

Example:

Forex India Brokers Ratings

Forex  Brokers  Ratings in India

The other day while navigating in Internet, going through various Forex India brokers ratings, I encountered with website www.forex-ratings-india.com The rating of brokers have been formed from votes of all sorts of traders, both beginners and experienced. According to those votes, the brokers have been ranged in the following sequence, forming Top 5 Forex brokers in India:

1. IFC Markets
2. NordFX
3. Swissquote
4. EXNESS
5. Admiral Markets

Naturally I don’t have experience with all these brokerages. I have heard of NordFx. They say it is one of the best brokers in India: fast execution, low spreads, kind attitude towards clients.
With IFC Markets I have an experience of almost one year. Overall I am satisfied with this company. Actually I had some technical problems with its NetTradeX trading platform at the initial period of trading. I got annoyed and changed the platform, starting to use the other one Metatrader 4. However after some time I came back again to NetTradeX. It is gradually being improved, suggesting more and more innovational tools. What I mostly like about this platform is that it contains a set of all sorts of orders or their combination: Market, Limit, Stop, Pending, Linked, Activated, Trailing Stop mode, etc. One more thing: it allows to make a withdrawal request directly from the platform. In general I think that this broker has a perspective to become one of the best and unique brokers in India in the future.
With Admiral Markets my experience is limited with just a couple of trading transactions. Then I changed it. No, no disappointment. The reason is that one of my friends recommended me another one, so I continued my Forex trading with it. With the other two companies I am coming across for the first time.
Let me see what kind of brokers they are.
Exness: I see that you can start trading having 100USD. Not bad. Oh, what a high leverage. You see, the maximum leverage ratio the Exness provides is 1:2000. Yes, really unique offer. Three account types: Mini, Classic, ECN. Almost the same we see with IFC Markets. Two account types for NetTradeX: Beginner and Standard, and two types for Metatrader 4: Micro and Standard. I personally think that it should be a must for these two companies to add some new account types. Let’s see what the other three suggest. Now I’ll check NordFx website: Integral, Micro, Standard, Premium, Standard-MT5, MT-ECN, CQG, Welcome account, Zulu trade. Yes, quite many account types. I remember Admiral Markets account types, see, let’s count: Admiral Standard, Admiral Pro., Admiral.CFD, Admiral Gold, Admiral Currensee, Admiral. ZuluTrade. Six account types.  As for Swissquote, I couldn’t find the Account types section, the same with Live Chat so as to get the necessary answers to my questions. Let’s pass this one. Nothing serious I can see here.

My financial means being limited, I chose IFC Markets. One of the main reasons for my choice. Through this company I am able to make a deposit with possessing only 1USD. However funny it may sound, I should confess, people. When I first started to trade in this company, my initial deposit was 1USD. No significant profit with this amount, it goes without saying, however you may try just for practice. The leverage ratio is also quite high: 1:400. NordFX: start trading with $5. Oh, what I see. Welcome account with $0 deposit. Something like demo account, only here you can make a profit. Maximum leverage here is up to 1:500. With Admiral Markets you should have larger financial means: initial deposit is $1000, maximum leverage ratio 1:500.

One more very significant thing. Let’s check spreads, fixed or floating they are. It is very significant for Forex in India. Admiral Markets – floating, Exness – again floating, NordFx – can be both fixed and floating depending on the account type, IFC Markets – fixed. Actually fixed spreads provide more transparent Forex trading.

I also made a little investigation concerning the trading instruments that each brokerage provides. Normally all of them have currency pairs in their list, some more, others less. Among common metals are gold and silver, IFC Markets provides palladium and platinum as well. The metals are as usual quoted against USD or EUR. Recently IFC Markets has deviated from that rule, forming a new group, called “Golden Instruments”. This new group includes unique products, with gold as the base asset, quoted against silver, contracts for oil and contracts for S&P 500 stock index (XAUXAG, XAUOIL, XAUSnP). Other trading instruments include CFDs on Commodities, on Indices, on Stocks, on Futures, on Equities and so on.
Forex in India is really becoming more and more popular in spite of so many setbacks established by Reserve Banks. However these restrictions do not serve as an obstacle for those who thrive to trade in Forex market. Electronic payment methods make your trading safer and more secure. Almost all companies provide electronic payment methods. For example NordFx suggests the following 4 electronic payment systems: Skrill, Alertpay, Liberty Reserve and Webmoney. IFC Markets has only two e-payment systems: Liberty Reserve and Webmoney. Electronic payment systems of Admiral Markets are Skrill, Envoy and WireCard. As for Exness it has a wide range of e-payment systems.

See:

• Liberty Reserve

• Webmoney

• Skrill (Moneybookers)

• Ukash

• Payweb

• Neteller

• Filspay etc.

By the way, the design of Exness captured my attention. Very nice combination of black and yellow, besides here I feel a pleasant atmosphere of New Year. I don’t like neither the menu nor the colours of NordFx. The menu of Admiral Markets is quite well-organised, in my opinion. In spite of prevailing white colour, the design is done with taste. The combination of orange and green is not so interesting in IFC Markets, though the menu is quite understandable.

This was one of numerous Forex India brokers ratings. I think that in Top 5 list some brokers might have been substituted with other more worthy ones. However, this is what has been formed by traders’ votes.

TOP 5 MYTHS ABOUT FOREIGN EXCHANGE IN INDIA

TOP 5 MYTHS ABOUT FOREIGN EXCHANGE IN INDIA

Foreign Exchange in India is becoming more and more popular recently causing more and more debates about it. I would like to present some very expanded misconceptions about Fx market, which may be beneficial for those Indians who do their first steps in this market.

1. Forex trading is quite easy

Many Forex India traders think that earning money through Fx market does not require any special education or any skills. Reading a couple of books is just enough to become a trader. This is what most people think. But anyone should know that studying Forex is equal to acquiring any profession and that is why it costs time, money and a lot of practice.

2. There is a Forex company

This is one of the most widely spread misconceptions about Forex. Remember that Forex is something abstract; there is no concrete place where it has been founded, so it cannot have any office. The Foreign Exchange transactions can be realized by brokerage companies. These serve as intermediary for those who want to dive into the world of Forex. So, any Forex India trader should realize that he is able to cooperate with any brokerage company no matter where it is based.

3. Commission is to be paid to brokerage companies.

The profit of any brokerage company is formed out of spreads, the difference between sell and buy prices. A brokerage company does not charge any fees.

4. “I need to have a great amount of money in order to start trading in Fx market”

Most people think so, since they do not have any notion about being able to trade with even 1USD. So, as you see, Foreign Exchange market is formed in a way that any person gets an opportunity to become the participant of Fx market.

5. “I want to exactly predict in what direction the market will move”

Keep in mind that a market which trades with floating rates of exchange cannot be predicted with 100% certainty. Fundamental and technical analyses have arisen for forecasting the market direction. However, these methods only function for approximate predictions.
As a smart Forex India trader you need to stay away from these stereotypical myths and always remember that the key to success is to closely study this field and what is more important to construct you trading psychology.

Hello India! I congratulate you on New Year and send the warmest wishes to you and your families. There is no better time than the holidays to say thank you for being with my blog all the year round. Wish you a productive and fruitful trading in the year ahead.

ALL ABOUT FOREX TRADING WITHIN 2 MINUTES. ENJOY THE INSPIRING VIDEO, DEAR FOREX TRADERS!

FOREIGN EXCHANGE IN INDIA

RISK MANAGEMENT IN FOREIGN EXCHANGE IN INDIA

While trading in Forex in India, any trader may face some risks. It is natural as risks are integral part of any transaction in Foreign Exchange market. Because of fluctuating currency rates being the object of trading in Fx market, the emergence of risks comes to be quite natural.  Diminishing all the risks is practically impossible. Minimizing them- this is what can be controlled by the traders. This phenomenon is called risk management. Risk management presents itself a set of some rules and regulations, allowing to decrease the level of risky trading operations, as well as to close the open positions with minimal losses. Risk management involves some tactics and strategies necessary for controlling the deposit.

The main principles that a trader of Foreign Exchange in India may follow in order to realize risk management are:

1.      Controlling emotions

In order to record real successes in Forex trading, one should forget all his emotions and judge with cold head. Basing on emotions may mislead us, causing some losses.

2.      Diversification of investments

It is not advisable to fund all the means in only one position. It will be better to use the deposit for opening three positions simultaneously. So, if you intend to become a consistent and smart participant of Foreign Exchange in India, learn to control your capital.

3.      Low leverage

It will be more effective to choose low leverage for several transactions, than a high leverage for one transaction, hoping to make notable profit. In this case the profitability of all your transactions will increase in several times.

4.      Stop-loss order

Always fix stop-loss order in your trading platform. This is a useful instrument for minimizing your possible losses. Don’t be greedy. If the trend is moving in the direction contrary to your expectations, it usually means that this trend will continue. So, closing the position in this case will serve in your favor.

5.      Trade with only liquid currency pairs.

FOREIGN EXCHANGE IN INDIA

WHAT IS THE INITIAL DEPOSIT? – ILLUSTRATION FOR TRADERS OF FOREIGN EXCHANGE IN INDIA

Now as a participant of Foreign Exchange in India you possess enough theoretical knowledge about it, understand excellently how this process is exercised, know the meaning of all the terms, regarding Forex. You have even had some surface investigation in the sphere of analysis methods. Moreover, you have more or less practiced Forex trading through opening a demo account. Now, it seems to be the exact moment for you to deal with real money, trying your hand in this unpredictable world. What you need for diving into the world of Forex in India is to do an investment, the amount of money you are going to fund in your account for trading.

The minimal amount of deposit differs from one brokerage company to another. While choosing a brokerage company this point is to be paid much attention to. The lower the minimal deposit is, the less risky your transaction will be. From this point of view, IFC Markets makes an optimal offer. You can start trading with only 1USD, if you have chosen the Beginner account type. As for Standard account type, 200USD is the minimal amount of investment. Besides minimum initial deposit, every brokerage company establishes its maximum investment. Thus, the maximum amount of deposit set by IFC Markets is 3000USD for Beginner account type and Unlimited for Standard account type.

After determining the investment amount, you face the process of choosing the payment method. IFC Markets supports the following four Payment Methods, from which you can choose the one that best corresponds to your preference:

• BANK TRANSFER 
• CARD PAYMENT 
• WEB MONEY 
• LIBERTY RESERVE

All these investment methods are also available for traders of Forex in India. Any Indian trader is able to transfer his deposit via one of these methods without any difficulty.

RALLY TRADE

13 days left. I am in a hurry to inform you that the start of the contest in IFC Markets is gradually approaching. It will be held from December 4 2012 to December 28 2012. The rules are straightforward: register for the contest from 20 November to 3 December, open a new Real account, fund it with 100USD and you are already the participant of the contest. The transfer can be realized through regular deposit methods or via internal transfer from your another NetTradeX account.

A contestant with the largest trading account balance will be recognized as the first place winner. The same criteria will be applied for other winners taking the rest of the winning places (1-5).

The prizes:

• 1 place: $1500
• 2 place: $1200
• 3 place: $1000
• 4 place: $700
• 5 place: $600
• The special Company prize: $500

Good Luck to you, dear traders!

                                   

FOREX IN INDIA

FOREX IN INDIA: SIGNS STIMULATING TO PASS FROM DEMO TO REAL TRADING

Actually, anyone who is intending to become a participant of Forex in India starts his way from opening a demo account and trading with virtual money. Demonstration account serves somehow as a field for gaining skills. Trading in the current field is safe because of the absence of real risks. Besides, in this case your emotions are stable and you are not worried about suffering losses. However, this state cannot proceed forever. Eventually what is the meaning of earning virtual money? They are just figures without any essential significance. So, if you open a demo account, sooner or later you will pass from the demo field to the real one. But what are the signs that it is high time for you to pass to real trading?

1.      You have had more profitable transactions ever since than unprofitable ones

You should try to make profits from your transactions, moreover they should be stable. Here the amount of earned dollars is not so important as the percent of the profits from all your transactions is. Overall, 6 transactions from 10 should be favorable. In case of recording such an index, you may already consider about passing to real trading.

2.     You are able to manage your capital properly

The management of the volume of the position is one of the main factors for success. Of course there is no definite strategy which will result in 100% profitable transactions. There would be some periods when losses are just inevitable. That is why it is necessary to choose a trading volume in a way that losses are not considerable and the profits are significant. This is considered to be the aim of any risk management methods.

3.    You already control your emotions

Emotions play a very important role for any trader of Foreign Exchange in India. So you should learn how to control them. It concerns losses as well as profits. Suffering losses should not serve as a cause for disappointment. After all they are natural. What you should pay attention on is that your profits exceed losses. Successful transactions also require being controlled; otherwise you may run into euphoria.

Connected with dynamic movements in the sphere of Forex in India, more and more Indians get interested in various nuances regarding Forex trading. So, these signs can be used by any participant of Foreign Exchange in India while deciding to become a real trader.

Happy Diwali

A great enthusiasm and livelines at all corners of India. People passing through shops and buying different kind of decorations and candies. Streets full of festive spirit. The Diwali great festival is going to be celebrated during the upcoming five days. Tomorrow all the houses and workplaces will be decorated with tiny electric light or small oil lamps. Bowls of water with candles and flowers floating on the surface are also popular decorations. People will exchange all kinds of candies, wishing a sweet and happy life to one another. Have a nice day, dear India!

Hello India

After a little break, I am again with you, ready to share my experience and recent investigations in Foreign Exchange market. From this time on our blog will also contain some information about all the global events which will this or that way affect the Forex market. Other innovations are ahead. I hope that my blog will be a great help on your way of becoming a Forex trader. Wish you further achievements in this unpredictable world! 

Happy Gandhi Jayanti

Mr.Murali : Foreign Exchange In India

Taking into consideration the increasing popularity of Indian Fx market, the other day I decided to interview one of the most successful traders in this sphere, Mr. Murali, intending to illustrate the way he passed before becoming such a successful trader.

-       Hello, Mr. Murali, how are you?

-        Fine, thanks, preparing to satisfy your curiosity regarding my success.

-        I know that you have a great success in currency exchange market. From what source did you get aware of the existence of the current means of earning money?

-         To tell the truth, I have always come across that term “Forex” everywhere in Internet, in the street on the signboards, etc.. Maybe I would never have a notion about how to earn money through currency exchange, until once one of my colleagues told me how much profit he had made, possessing only $100. First I thought that it was something like a roulette game, and then my colleague noted that the only thing that unites Forex trading and roulette game is that in the core of both of them lies a risk. In other aspects they are different, particularly Forex trading requires a close study.

-         So, when did you decide that earning money this way is the best choice for you?

-       I was working in a financial company with quite low salary. Once thinking over how to increase my welfare, I remembered my colleague. Ringing him up, I told him that I was interested in currency exchange market and asked him to give me some instructions how to start that peculiar kind of business. He lent me a Forex manual, recommending to go deep into that world before becoming a trader.

-         How much time did it take you to gain deep knowledge about Forex trading?

-        It took me six months. My initial step was to grasp the theoretical part of Forex trading. However I had a feeling that basing only on the theory will not be a reasonable decision, some practice is just obligatory. So I opened a demo account and started to trade with virtual money.

-       I see we are gradually approaching the main point. When did you make the first notable profit?

-        After a year of making some slight profits and suffering many losses I finally recorded a really great profit. My initial deposit being $200, I made a profit of $2000. This was followed by greater and greater profits, until I realized that my financial means are enough to absolutely satisfy my needs.

-       So, what would you advise to those who are still hesitating about becoming a participant of Indian Fx market?   

-        I would advise them not to be afraid of failures, they are inevitable, I assure you. Take a risk, be confident and never give up. Success is ahead.

FOREIGN EXCHANGE IN INDIA: AN EXAMPLE OF SUCCESS

FOREIGN EXCHANGE IN INDIA: AN EXAMPLE OF SUCCESS 

Once traveling by taxi from Delhi to Mumbai on a business trip regarding currency exchange, I got acquainted with the taxi driver. For time being too much before reaching Mumbai, an intimate and pleasant conversation was struck up between us. The taxi driver was complaining of not having enough financial means for living a well-to-do life. Then a question conceived my mind:

-          Look here, Dippek, what would you do in case you had $100 000?

-          I would invest it in the bank, enlarging the amount of my money due to percents.

His reply made me realize that he was not aware of bank percents not being a source for increasing the income. This is one of the most widely spread misconceptions about making big money. So I wondered if he had any notion about currency exchange. I had a long educational conversation with him, introducing all the details of foreign exchange market, particularly about Indian Fx market. I told him how rapidly it is spreading through the country and how many real successes have been recorded by Indian traders. At the end of our conversation I gave him a Forex manual and left my visit card.

 A few days later, overloaded with work, I had almost forgotten about the taxi driver, when the latter rang me up. Honestly speaking, I was agreeably surprised to know that he had been so much interested in Indian Fx market that had already opened a real account. But what made me more surprised was that without having any previous experience he had made a profit of $1500, the initial deposit being $200. By all means it was the result of luck. In order to insure him from further notable losses, I advised him to go deep into all nuances of Forex trading, studying all analysis methods and indicators. Seven months have passed since that day. Today Dippek is one of the most famous and successful traders in Indian fx market.