Forex Journey from $500 real acct...

[yasirdxb]

Gr8!!

Good Luck.

 

[traderone]

Well the profits do look lucrative.......but I would not recommend anyone using 32:1 leverage.

 

[ag_fx]

Well the profits do look lucrative.......but I would not recommend anyone using 32:1 leverage.

hw did u gauge dat?

 

[findvikas]

Oanda is great tool... no doubt about it.. I am evaluating myself using their Demo account and playing with EURUSD & USDJPY pair... what are your favorite currency pair to play with ?

 

[traderone]

Post # 5: Position value 26734$ against a 844$ account. Or in same post margin used is 534$ => 534*50 = around 26K position. So true leverage is around 26700/844 = around 32 times account size. No professional uses that much leverage. Use proper money management.

 

[sushant079]

exactly...
not only it has potential to wipe out ur whole money..but u may have to pay from ur another accounts too....
so beware..

"A good money management with not so good trading strategy is far better than poor money management with the best trading strategy"
:annoyed:

 

[sushant079]

Hello Vijbala,
to open an account with oanda go to http://fxtrade.oanda.com/ and click on open an acct and fill the online form . It takes less than 10 minutes to do so.After you do that just scan your residence proof and govt id like passport, driving license etc and send them the scanned images of it .And you are done.
You can then transfer funds and start trading!:thumb:

Regards
Pipshower

Hiii Pipshower,
nice and easy way to register..i have a question

how much time it takes from the day of registration to start actual trading!
and how much minimum balance they accept? how do they verify address??
please hoping for your reply!

 

[ag_fx]

Hiii Pipshower,
nice and easy way to register..i have a question

how much time it takes from the day of registration to start actual trading!
and how much minimum balance they accept? how do they verify address??
please hoping for your reply!

In registering yourself online, the delay is only in the time it takes you to fund your account. Your online application form is submitted as soon as you complete it online and then you are asked for some identity proof documents. They will ask for your passport and one other form of identity proof.
After they receive your scanned/faxed documents, they will review your account and if approved, your account will be ready to be funded.
Oanda can be funded via paypal or a bank wire transfer for indians. Paypal funding doesnt take more than a day if you already have an account, whereas a Bank wire might take 3-4 days before the money reaches to your trading account.

Once your account is funded, it is ready to trade :thumb:

 

[sushant079]

In registering yourself online, the delay is only in the time it takes you to fund your account. Your online application form is submitted as soon as you complete it online and then you are asked for some identity proof documents. They will ask for your passport and one other form of identity proof.
After they receive your scanned/faxed documents, they will review your account and if approved, your account will be ready to be funded.
Oanda can be funded via paypal or a bank wire transfer for indians. Paypal funding doesnt take more than a day if you already have an account, whereas a Bank wire might take 3-4 days before the money reaches to your trading account.

Once your account is funded, it is ready to trade :thumb:

thanks....for the info Ankit
i was also thinking that
if there is any indian forex broker available..(coz of spread)...
and what about oanda's min account balance? as i am really curious about that!

 

[ag_fx]

thanks....for the info Ankit
i was also thinking that
if there is any indian forex broker available..(coz of spread)...
and what about oanda's min account balance? as i am really curious about that!

No..there isnt any Indian forex broker available...While selecting a broker, you should also focus on the kind of liquidity the broker has and at this stage of market evolution, any Indian broker will have to go a longgg way to even come close to international brokers.

Oanda doesnt have a minimum balance requirement and you can fund it even with $1 or $10 or whatever you like.