Posted on: 05-02-05 19:52:12
Chandresh, count me in for your free lessons on forex trading. May be in due course of time we can form a small study circle where we can meet periodically and share our experiences to our mutual benefit. If required, I can offer free seminar hall for the purpose.
For someone who is interested in learning, please follow the link below. The book is free and in addition there is more useful stuff on the website.
http://www.forex-information.com/forex/more-information.html
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Man's Best Friend 
Has anyone tried 4xmadeeasy.com? i have seen their ad on the TV and they claim to have made the 4x trading very easy. They show the up and down, green and red arrows.
I am also interested in knowing about forex trading coz i have tried the stock market and so far have not made any money.
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Indian IT Guys Rules........
Quote:
Orginally posted by chandresh
However, one has to realise that one can trade forex on very very low margins - 1-2%, and the movements are extremely fast - in literal sense 'palak jhapakte hi' (like it moved half % in a blink yesterday at 8.30am when the employement figures for USA wer released), and so while it is easy to double your equity in a day, it is entirely possible to lose it in a day too.
Forex trading is good only for people who have:
1. a heart to be able to take huge losses in a flash
2. who have some money to spare and loss of that will not in anyway hinder their daily living.
3. who are very very disciplined in trading - they set their goals for profit and losses and take whichever comes first. (I used to trade with specific $amount as maximum loss that I will take in a year - twice it happened that I lost that money in January and in February - I disciplined myself and did not trade for the rest of the year both those years!)
4. Have the courage to come back after a while once they have saved/earened what they had lost and are ready to try out again. Because if you have lost once, it does not mean you will lose again.
Chandresh
Very well written. A stout heart should indeed be a mandatory requirement - simply because with all the web based trading platform you can see your losses or gains instantly and sometimes the numbers on the screen can be very unpleasant (remember you're trading on a margin of 1 or 2% ).
Plus, fund the equity with money only which you can afford to 'lose'.
I am not trying to discourage wannabe traders but pointing out the risks.
Like Chandresh I've done some trading recently and hence the words of wisdom.
Daks
Hi,
I am very keen on getting forex classes from Chandresh. Please count me in if you are having any of your classes in the near future.
Bye
