Online forex trading – a smart way to make money

Online Forex Trading – A smart way to Make Money As we all know ‘trade is a way of life’, some have made a killing while others have earned a comfortable income and no longer rely on a traditional job to make a living. Well, as you might have heard the term ‘Currency Trading’, ‘Online Forex Trading’ many times while surfing internet or tuning through one of the business news channels. Let’s make an attempt to understand the world of currency trading in simple, layman’s terms. Currency is one of the finest and most interesting asset classes for investment and trading. However, currency trading has always been a mystery to even well informed investors. It is quite different from trading the stock market or other commodities markets as unlike most stock exchanges, the forex doesn't have a physical location - it's all electronic. Currency trading is an act of buying and selling international currencies, attempting to benefit from variations in the exchange rate of the currencies. Thanks to the internet, investors across the world can now participate in the currency trading via online forex trading. Online forex trading is one of the best and easiest ways for citizens of the free world to participate in the global economic boom. It can be done 24/7 from anywhere in the world as long as you have a computer and Internet access. Currency trading is no longer solely a banking and financial institution activity but is available to all those who have access to the Internet. There are various myths and misconception regarding this investment avenue. The truth is that currencies have been traded around the world over the centuries, but the only attributes you require are dedication, discipline, and effective trading strategy. With the easy accessibility and low startup costs of currency trading online these days, virtually anyone who wants to

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Paying taxes is good because it shows that we’re employed and civilized. We must pay taxes. But asking for more than what is necessary is just a legalized robbery. Now that the Budget is approaching, talks have resurfaced around Commodities Transaction Tax (CTT). The proposed tax is untenable and a retrograde one as it would distort the market which is still at a nascent stage. Does levying a charge which has the potential of adding Rs 3,000 crore a year (maximum) to government’s kitty worth sacrificing billions of dollars of trading volumes which will shift to illegal “dabba” market? Rise in the cost of trading will shift hedgers from the exchange to illegal (dabba) trading system where there are no taxes and no regulations, leaving the domestic exchanges to struggle with falling volumes. By the way, commodity futures is a volume-driven and an extremely low-margin business. Lower transactions on exchanges will then mean futures market will become inefficient in performing its principle function of price discovery for farmers, and ultimately there will be a spanner in the management of price risks. If CTT is implemented now, it would lead to hoarding in the short-term, throwing a major obstacle in the RBI’s efforts to reduce inflation. Moreover, poor price discovery in the system itself contradicts the plans of UPA which is dying to bring in retail FDI to help farmers realize better price for their produce. So, what’s needed is that government needs to boost futures market for creating the conditions conducive for such investments. We must care for each other more, and tax each other less.

Transcript of Online forex trading – a smart way to make money

Online Forex Trading – A smart way to Make Money

As we all know ‘trade is a way of life’, some have made a killing while others have earned a comfortable income and no longer rely on a traditional job to make a living. Well, as you might have heard the term ‘Currency Trading’, ‘Online Forex Trading’ many times while surfing internet or tuning through one of the business news channels.

Let’s make an attempt to understand the world of currency trading in simple, layman’s terms.

Currency is one of the finest and most interesting asset classes for investment and trading. However, currency trading has always been a mystery to even well informed investors. It is quite different from trading the stock market or other commodities markets as unlike most stock exchanges, the forex doesn't have a physical location - it's all electronic. Currency trading is an act of buying and selling international currencies, attempting to benefit from variations in the exchange rate of the currencies.

Thanks to the internet, investors across the world can now participate in the currency trading via online forex trading. Online forex trading is one of the best and easiest ways for citizens of the free world to participate in the global economic boom. It can be done 24/7 from anywhere in the world as long as you have a computer and Internet access. Currency trading is no longer solely a banking and financial institution activity but is available to all those who have access to the Internet.

There are various myths and misconception regarding this investment avenue. The truth is that currencies have been traded around the world over the centuries, but the only attributes you require are dedication, discipline, and effective trading strategy. With the easy accessibility and low startup costs of currency trading online these days, virtually anyone who wants to try their fortune may trade in this market. Becoming a successful forex trader can be a cakewalk with the use of simple trading strategies, maintaining objectivity by pre-defining all aspects of trading, and truly believing that you can succeed at online forex trading with enough discipline and patience.

Online Forex trading sees trading of more than 2.5 trillion dollars in a single day, which is 100 times greater than the NASDAQ daily turnover. Growing fascination among investors has propelled currency trading companies in India to muster their business in underlying asset. It has opened window of opportunities for mainstream retail investor to participate in this market too.