Hello Friends,
I'm back.
Its not my intention to spoon feed you exact entry, exit techniques. But I want you to get thinking in the right direction.
Do you know technical indicators work a lot better in USDINR then in other G7 currency pairs. May be it is because the currency pair is still not widely followed, so there is still a lot of edge available.
If you had just went long on break of 2hrly candle's high and went short on break of 2hrly candle's low, you would have made 20% return in past 6 months. And that's without the leverage. Even 1:10 leverage would have made this 200% return in 6 months!!. Isn't it awesome.
Also, you can news trade USDINR as it doesn't react as fast as G7 currency pairs.
Jus2 2 days back on 1st Jan. When the US Fiscal cliff was reported resolved, USDINR was the only currency pair open for trading in the world. So, I immediately bought 54 strike Jan expiry puts for 15 paisa. And yes, it doubled in money to 30 paisa in just 1 day.
So, I have given you 2 hints today.
1. BreaKouts work in USDINR.
2. Follow the news.