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Tuesday, September 25, 2012

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.

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