Make Money from Forex Trading
If you want to make money online forex trading is one of the best methods. I had no knowledge of forex trading few month back. I practiced forex trading with a demo forex account. Once I started making profits with the demo account, I funded my account and start trading with a real account. The forex trading is very simple once you start trading for a few days using your demo account.
What is Forex?
The Foreign Exchange market, also referred to as the “Forex” or “FX” is the largest financial market in the world, with a volume of over $3 trillion a day. It is actually more than three times the total amount of the stocks and futures markets combined. Forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the Euro and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY).
Why use forex trading?
- Forex market is open 24 hours a day. You can trade forex at any time.
- You can trade forex from anywhere in the world.
- The transaction costs are very low.
- High liquidity.
How to start?
To start forex trading click here to download the forex trading platform and start practice with the demo account. Please read the help section which is very important for you to learn the forex terms. Once you started making profits open a real account by funding the account. In my previous posts I have given a number of opportunities to make money online. This is the only program that needs a small investment. You can start trading forex for just $50 which is very low compared to any other business. I made $34 profit in the first day itself so you can get your investment back in few days.
Funding Your Account
After login to the demo account click the trade for real money button, then you will see a login page. Please click the open new account at the right side of the login window to create a real trading account. Please use this login information to login to your real trading account. Then use the click to deposit at the bottom of the window to deposit money. You can fund your account by credit card, paypal, and moneybookers. If you don’t have credit card you can use netsafe card for funding your account. You can also fund your account using EntroPay card.
Forex trading tips
Trade for small profits first. While trading forex look for what the top 100 traders are doing and take a decision. You can make your forex trading automated by setting a take profit value. Your trading will be closed when it reaches the take profit value. You can shutdown your computer once you set this value if you want.
Click here to download the forex trading platform
Hi I Like to contact you Regards Atul
Dear Atual, You can contact me using the contact option at the top of the blog. http://www.shanavas.com/contact .
Dear Shanavas, I am happy to see your blog. I have registered in forex trading and went to demo account and unable to proceed further since I am new to trading please help me out
Dear Albert, I will have given enough information about forex trading. Just go through everything first. Click on forex charts and you can see a graph. Buy when the price is low and sell the price is high.
I dont have a paypal account is there any other way that I can start forex trading
Dear surindar, If you don’t have a credit card you can fund your account by paypal or EntroPay card. You can create a paypal account for free from paypal.com. Please read my post http://www.shanavas.com/paypal-expained/
See details about EntroPay on my post
http://www.shanavas.com/entropay-card-free-virtual-credit-card/
Dear Shanavas
Please let me know the minimum amount to be invested in the forex trading and how the amount is to be deposited. Also, plase tell me whether the trading gives automatic appreciation /return or I have to control the entire matter sitting in front of the internet.
With thanks Manisha Dutta, Guwahati,Assam
Dear Manisha, The minimum investment is $50 and you can deposit by credit card or paypal. The forex trading gives automatic appreciation /return.
I would like to know how start forex trading…. could u plz help me with details
Dear Gouri, Please download and use the demo forex account. You can contact etoro for any doubts and also chat with them.
Dear shanavas, My question is there is so many products availabe in the market for forex trading such as automated or robot trading system is it correct or not, is it right the forex trading automatially without doing anything.
There are automated forex trading robots but no one can give a 100% accurate result. I don’t use any such software.
I want to invest $100 in forex trading by credit card, please guide me accordingly. Manisha Dutta
Dear Manisha, After login to the demo account click the trade for real money button. Please click the open new account link to create a real trading account. Please use this login information to login to your real trading account. Then use the click to deposit at the bottom of the window to deposit money.
Dear Shanavas,
I am very happy working in forex trading…
1)I need internet connection for forex trading…Actually now i am using airtel mobile internet connection but it is very slow.. so that i am going to buy the wireless internet connection that is data card…which is gives speed connection from these “Reliance data card,Airtel data card,Tata indicom data card,BSNl data card”…
2)While withdrawing my funds in etoro they are asking my credit card photo copy of both sides…If I am giving to them means they can access my credit card account na…For what they are asking..
Reply me…
Thank you.
Dear Thangarasu, You don’t need a very high speed internet for forex trading. You can do it with any internet connection.
Etoro will ask copy of credit card if you fund your account by credit card. This is to prevent fraud and they don’t misuse it.
Dear Shanavas, I am staying in India. Can I do Forex trading as many of the websites states it is illegal. Are there people doing Forex trading. I too want to know is there any problem in Forex trading in India.
Dear Shanavas, Have you ever get back the money from paypal to your credit card or you got back money from etoro Forex trading. Because I want to know there is any problem in withdraw money from paypal or etoro.
Dear paramesh, Forex trading is 100% legal and you can do it in India. I am an Indian and doing forex trading.
Dear paramesh, If you are from India you can withdraw money from paypal to your bank account and I have done it.
hello, you do have a very informative website both in terms of knowledge and your experience. I request u to furnish me the details of the following
I am afraid of private banks… they just need a excuse to punish u with lousy rules and deduct your money from your account. So my quest is to find something like the netsafe card of HDFC … only thing it should be backed by a public sector bank ….
Once again I like to thank u for your time n energy on this site….
Dear Jimmy, There is no private sector bank providing a service similar to HDFC netsafe. You have to read and understand the charges a bank is charging from their manual. Please read my post on credit card tips http://www.shanavas.com/5-credit-card-tips-for-everyone/.
Dear Shanavas, I can’t use paypal for funding etoro because I got a message that you have reached the sending limit. Also I don’t know the limit of sending and receiving fund of my Paypal account. I want to know safest way to fund and withdraw amount in etoro.
Dear paramesh, The safest way to fund is by using paypal and I have fund my account using paypal. You can also deposit by credit card. You have to verify your account to lift the limits. See the link for paypal verification.
http://www.websoft.co.in/verify-paypal/
Dear Shanavas, However I clearly checked that I am not able to fund from my paypal account to etoro. Can I directy fund through my credit card to etoro. Is there any problem in that. Please suggest is there any payment method for etoro.
Dear paramesh, You can use your credit card for funding etoro. You can also withdraw money to your credit card.
Hi, I practiced on demo.But till I am not familier with etoro.what is mean by ‘top traders doing’? how can we decide, buy USD against JPY, or any other currency? Are you close the trade order in same day or after 2-3 days? I am ready to fund $50 atleast thru my credit card.
Dear Parimal, After you login to etoro you can see top traders insight. I normally use USD EURO pair. Look what top 100 traders are doing and act accordingly. I close the trade with in the same day.
Dear shanavas sir, I am happyly working in etoro…I earned up to 300$ within 1hr on my first time of starting real account…but I lost some amount up to 100$..Actually my question is if i want to trade without loss means what to do…what pairs are best and which time is correct to trade…
Once again i would like to thank you so much for your helping tendency…god bless you…
Dear Thangarasu, I normally use euro dollar pair. The best time to trade are when at least two major forex markets are open where most of the market activity occurs. At 1.30 PM London forex market will open and at 6.30 PM Newyork forex market opens. The London market closes at 9.30 PM. Between 6.30 PM and 9.30 PM there will be high activity since both markets are open.
Dear Shanavas, Yes sir I got profit only at the time of trading which you given times..ya surly when big markets are open then we will get good profits…Only thing is we should monitor the currency pairs whether to BUY or SELL thats all…Now i am happy…Thank you for your guidence…
Sir, First of all my sincere thanks for your valuable information and guidance.
If we transfer funds using NETSAFE CARD, since we dont have a real card we cannot send copy of card when withdrawing money as asked by ETORO. Can you suggest how to overcome this problem.
Second can we transfer money using international debitcard which HDFC bank provides with account.
Thirdly I approached AXISBANK to wire transfer money to ETORO for forex trading, they denied my request saying they don’t do it for forex trading overseas.
Can you suggest me a bank who wires money for forex trading overseas.
I dont have a creditcard to directly deposit money.
Dear Venkath, You need to produce the screen shot of the netsafe card instead of the real credit card copy. You can’t use debit cards for transferring money. Banks doesn’t allow international wire transfers due to money laundering. Use netsafe card for funding.
Hi Shanavas,
Are u sure that by producing the screenshot of netsafe card instead of the real credit card copy, we can withdraw money from etoro? Do you have any experiance? Because I don’t have any other documents to produce.
Hi
I wish to know the maximum amount limit in doing forex online trading in India. And can we do forex trading with indianulls or with reliancemoney? How many accounts we need to open for forex trading as we need to open 3 accounts for doing stock trading. For doing forex trading what kind of account is required to open with? In rupees or in dollars? Regards
Dear Mahesh, Once of my friend contacted etoro and they told to produce screen shot of netsafe card.
Dear Padam, There are no limits for forex trading. You need to open a single account and it is in dollars. You can’t do with indiabulls or reliance money. You can trade forex through etoro.
Hi Shanavas, when i checked the etoro website, i saw these documents are needed for cash out of funds.
* A copy of Passport / Photo ID
* A copy of both sides of the Credit Card that has been used to fund the trading account
* A copy of a recent utility bill
My doubt is that, is all these 3 documents needed or any one of them is required?
Dear Mahesh, They need an id proof and address proof. Copy of credit card is needed if you use credit card only.
hi shanavas,
I dint get any download prompt. Instead, the Web trader is geting opened. Even there, I am not able to connect. Connection Failed. What to do?