Currency Trading For Dummies, Forex Book By Brian Dolan
For reproduction of the content, there must be a live link back to the FreshForex website original page. Resident Indians can trade in currency through various Indian financial institutions today However, currently the resident Indians cannot trade in currency pairs not involving the Indian Rupee, (like the USD/GBP) with any scheduled bank or such other agency falling under the regulatory purview of the Reserve Bank of India Therefore to trade in such currency pairs, one will have to transact Foreign Exchange trades outside India.
It’s good that you’re aware of your time zone, and you should always factor that into your trading: what scheduled news announcements occur around that time, what is the general liquidity in the currency pairs your trading likely to be during the time of day that you will be trading and so on.
The currency market continues to generate interest and attract new retail traders due to the many opportunities available within it. This book will show you how to successfully operate within this arena by making the most informed trading decisions possible.
There are other criteria`s to classify self as a trader or investor like if you are buying and selling stocks frequently within weeks for short term or engaged in equity day trading or futures trading or your primary source of income is trading/investment or you are declaring self as a Trader in previous tax returns then you have to declare your trading activity as Business.
But after reading this post I think I have a better grasp on the whole concept of what it takes to be a successful trader and that its not how much money you have in your account but how much successful trades and how good your risk reward is on a trade.
The process of creating a Forex trading plan around an effective trading strategy like price action trading, will work to solidify your understanding of the trading strategy and will also provide you with a blueprint for what you need to do each time you interact with the market.