Will you be a smooth trader enough to ensure good returns on your investment until and unless you have sound familiarity in trading? Trading companies have started up with this trend of day trading community wherein people enter to learn and earn hefty via day trading. Such trading communities help trading professionals with useful information, tutorials, fact sheets on current trends of day trading and also when it is the best time of the day to trade, best strategies of trading. No wonder, these online trading communities are good sources of gathering details of trading. To stay linked to the online trading market and trading professionals, the best way will be to enter into an interactive zone. A day trading community is such online zone where all types of traders from novice to veteran traders, experts and traders earning in seven digits flock to share their experiences on trading. Therefore, such community culminates into pool of resources to utilize in daily trading operations. Like the nature of day trading, these communities too are extremely varying in nature. Usually, there is two broad classifications prevailing in online trading communities. One of these is formal day trading community while another is known as informal trading communities. Formal trading communities refer to those portals or networks of portals which has systems of monitoring all types of transactions take place while day trading. Major points covered up by these formal day trading communities are ratings, feedback systems, referencing, contents, transactional trading etc. ? On the other hand, an informal day trading community points out those day trading based interactive websites which traders utilize for publishing personal advertisements. If you have joined one such day trading community you can be extremely flexible in posting any kind of advertisements including videos, news etc. , on any kind of financial equipment including commodity trading, stock trading, forex trading etc.

Forex Trading is like any specialized profession. You need many years of education and practicing before you can master it. Many do not agree with this statement and have ended up in financial ruin. Ironically, this people have always been successful in their respective profession and life. They see forex trading as a simple financial game and nothing comparable to their current profession. I have seen many doctors, lawyers, accountants and other specialized profession failed in forex trading. They thought that their success in their own fields would help them to achieve the same success in forex trading.   They end up raking losses so fast and furious that they finally give up. It is all because they are lacking the unique characteristics of a successful trader. Let us now look at the 8 common characteristics of a successful trader. 1.        They do not take forex for granted. They see forex trading as the same if not harder than most specialized profession.   They put in a lot of efforts and time to trade well. 2.        They acknowledge the financial risks in forex trading. They know that they can win and as well lose money in forex trading. They practice good money management to protect their capital. 3.        They start with the basics of forex trading education instead of diving straight into the forex market. They take time to learn about the fundamentals and technical of forex trading. They respect and obey all the previous rules set by the previous successful traders. They understand about trend trading and why it is risky to trade against the trend. 4.        They are patient. They understand that it takes time to be a successful trader like any profession. They are willing to start slow and always begin with demo trading. They then advanced to live trading with a small capital initially. 5.        They know the importance of having a mentor like any profession. They understand their deficiencies as a beginner and are always seeking knowledge from the experienced traders. 6.        They stay with one proven trading strategy and trading only one currency. They do not jump from one strategy to another. They do not try trading many currencies at one time. They are devoted to understanding the nature of them and maximizing their profits while minimizing their risks. 7.        They set aside sufficient capital that they can afford to lose. With money they can lose, they do not feel pressure while trading. They simply follow their trading plan on executing their trades. 8.        They keep records of their trades. They review their winning and losing trades to understand their mistakes and how they can improve their trading results. Forex trading appears to be an easy game since you either buy or sell. Then why is that the 95% of the forex traders lose money.   There must be something that the successful traders have. Learn to trade forex like the wealthy traders and soon you will be as successful as them.

Forex trading signals are a great way to help you protect your forex investment from not maximizing your profits and from taking too much in a loss. When you set up your forex trading signals, you are basically setting up the parameters to alert you of a trading situation. Once your forex system is setup and tested to be profitable, don’t mess with it. In other words, you set a limit as to where you would take the profit and at what losing point you need to get out of the trade, then stick with it. Forex trading signals can be executed manually or using an automated forex trading system. The latter are basically forex trading software that can trade for you automatically. For example, if you are using the Metatrader platform, you can use forex Expert Advisor (EA) feature on the software to do automated forex trading. You can either run the EA on your own computer (which must be turned on for it to execute online forex trading. Alternatively, you can run the EA on a Virtual Private Server (VPS). All you need to do is open an account with a VPS provider, log in to your VPS, and set up your EA like you normally would on your home computer. You can also set up any other forex trading platform on your VPS. Then, disconnect and go about your normal day and you can turn off your home computer without missing a trade! Regardless of whether the forex signals generated is from manual or automated forex trading system, you have to be very precise when you set these limits as they are going to dictate when you enter and exit a trade. The exit strategy is key as it is the one guideline a trader must obey to avoid falling into the pratfall of trying to predict which way and how far in one direction or another the currency pair will go. This is sometimes an area where a trader will fail as they do not listen to their own signals and they let their emotions get involved. Your forex trading signals are based on consistency in your trades and when you try and predict how much further the profit margin will go or think that the loss will go the other way and the currency trade will come back. You must follow the safeguards that you set up. It cannot be stressed enough that you not only need to maximize your profits, but you absolutely must prevent yourself from taking losses that are larger than your acceptable margins. To pretend that you are not going to take a loss is foolish, they are going to happen from time to time and setting the proper loss signal will stop you from letting those losses get out of control. One thing that you are going to have to do when setting up your forex trading signals, is not only develop an entry strategy, but they will also aid you in setting up your exit strategy which is just as important. When you do a deal, you absolutely must know where you are going to get out on both ends of the spectrum. You still need to remember thought that forex trading signals are tools, they are not gospel on dictating what types of trades that you are going to get involved in. For instance, if your entry signal alerts you of a possible trade, you then evaluate the trade to see what your risk factors are and what your exit strategy is going to be. If those parameters are not acceptable, you do not do the trade. For that particular trade to be successful, you may have to expand your loss settings to be too wide of a range and therefore it is a bad trade.

With the onset of technology and its augmentation, everything today has become ‘online’ and this includes trading! All non-residents today trade online. Almost all the registered brokers today offer Online Trading facility in Equities for non-residents. But of course, there are certain prerequisites for being able to trade online. The non-resident must have/open: 1. Bank account with a Portfolio Investment Scheme (PIS) Designated Bank (DB) 2. Demat account with broker 3. Broking account with broker. Before proceeding further, let us tell you what exactly all these accounts are. PIS Account: Portfolio Investment Scheme, better known as PIS, account is mandatory for all Indians living abroad, and enables non-residents to invest in the shares of Indian companies based on repatriation or non-repatriation, in respect of shares or convertible debentures sold or purchased through a registered stock broker on a recognized stock exchange. Please note that other means of acquiring shares (like bonus shares, shares purchased through IPO etc. ) is not covered under this scheme. Demat/DMAT Account: Dematerialised or DMAT account is similar to any conventional bank account, the only difference being that the latter deals with money, while the former deals with sale and purchase of stocks. Maintained with a Depository and opened through a Depository Participant (DP), we at nriinvestindia. com help our clients to open such an account in India. Broking/Trading Account: The name might sound complex, but trading account is nothing but an account opened with a stock brokers, enabling you to buy and sell shares or any other financial instruments through them. Now that you know what these accounts mean, we now proceed to tell you how to open these accounts, and the various documents you will need, if any, for the same. Opening a Bank Account with a PIS DB: To invest in the secondary market, non-residents require the permission of the Reserve Bank of India (RBI), and for this you need to open a bank account with a DB under the PIS. The fund for investment in the market has to be routed through the PIS Bank account. The brokers can have a tie-up with UTI Bank, HDFC Bank, IndusInd Bank etc for this purpose since these are the DB of the RBI, and can hence issue RBI approval to non-residents. The account can be opened based on whether you want benefits of repatriation upon investing (NRE Account) or do not wants benefits on repatriation upon investing (NRO Account). Brokers will send you a trading account opening kit enclosed with the application forms for opening Bank account as well with any one of the above-referred DB under the Portfolio Investment Scheme. This will facilitate online trading for non-residents around the world. Upon receiving these forms, the DB will open two bank accounts – a PIS account and non-PIS account. All investments and sale proceeds will be done through the PIS account. Please remember that the PIS account needs to be funded before the broker can make investments. The non-PIS account functions like any usual Savings Bank non-resident account, and transactions other than those under the PIS account will be routed through the non-PIS account. In case of NRO accounts, the non-PIS transaction would include payment to IPO and ESOP, dividend payment, amongst others. You need to produce the following documents while opening a PIS account: * Attested copy of Passport. * Attested copy of Valid VISA copy /Work permit (Iqqama for middle east countries). * Details of existing shares holding both in NRI status & resident status duly signed. * 3 Passport size Photographs. The DB shall send the A/c opening intimation directly to the clients & a copy of the RBI approval is delivered to the broker. On receipt of the RBI approval from the DB, the broker proceeds to the next step – opening a Demat and Broking account. Opening a DMAT account with a broker: Based on RBI’s approval, the broker will open the DMAT account in the same status (NRE or NRO) and pattern (Joint or Single) as is the account with the bank. Shares are held here in an electronic form and shares bought by the client get credited on the second working day from the day of purchase. Example: Shares bought on Monday will be credited on Wednesday; those bought on Tuesday will be credited on Thursday, and so on. Opening a Broking/Trading account with a broker: Broking account is a trading account with the help of which the client does the transactions of ‘buy’ and ‘sell’ in the Secondary Market. The broking account is opened after the DMAT account gets opened, and the former is linked with the latter. Now that you know the process of opening the various accounts, we will now inform you, in detail, about the trading process and the transactions of ‘buy’ and ‘sell’. Trading process: To enable the client to trade, the client is given, generally, a Trade Login User ID and a password. All the client has to do is place the “Buy” and “Sell” Orders on the Broker’s Trade Page. Most of the Brokers have user-friendly Trading System thus ensuring that the client has a pleasant trading experience. Buy: By moving funds in her/his PIS account to the broker, the client can initiate a ‘buy’ transaction. The movement of the fund is done in less than a minute and accordingly the Trading Limit is updated facilitating the client to buy shares. Once the NRI has bought and/or sold the balance money, if any, the same has to be transferred by the client from her/his PIS account on receipt of the trade confirmation, and the Broker then sends it after the Market closes for the day. The National Stock Exchange (NSE) settles the delivery for shares bought on the second working day (example: if you bought a share on Monday it will be credited to your account on Wednesday and so on) from the Date of Purchase. Sell: You need to have shares in your DMAT account to initiate a ‘sell’ transaction. The trading system would reject your order otherwise. The shares bought are, as mentioned above, credited to your account on the second working day and available for trade on the third day. The NSE settles the sale proceeds on the second day from the date of sale and the broker wires the money to the client’s PIS account, on the second day itself. The DB credits the proceeds into the client’s PIS account after Calculation Gains and deducting tax if any. The client can get an update on the Broking account by looking at the ‘Accounts Statement’ on the broker’s trading website. The Daily Account Statement gives details of Funds Transfers – both for transfers done by the client to Broker & by Broker to the client’s PIS A/c and the date-wise break-up of shares bought or sold by the client. VALUE ADDED SERVICES RENDERED BY THE BROKER FOR ONLINE NRI CLIENTSA broker will not ONLY take care of your transactions. She/he provides a lot of innumerable services. These include:One-stop shop: Most of the brokers will open all the three accounts for you by coordinating for the same with the DB. So all the applicant has to do is fill up the relevant forms and give it to the broker. Trade confirmations: Brokers will email you the details of the trade done for the day which will include confirmation for the trade done and the brokerage fee charged for the same. Report transaction: Brokers will report every transaction done by a client to RBI by the DB. Contract notes: In addition to the emails, the client can view their Digital Contract notes on the website. PIS account queries/reconciliation: In order to ensure that the PIS account is regular, the broker shall coordinate with the DB and clarify all queries related to PIS transactions. Please note that every transaction done in the Trading account has to be reported through the DB. Offline orders: Some brokers accept offline orders through emails, fax, and even over the phone, after confirming the identity of the client, thus permitting even those who do not have access to Internet/Computer. The brokers may also offer opening an account for liquidating the shares bought in Primary Market. They will also obtain the Auditor’s Certificate for such sales and the proceeds will be credited to your NRE/NRO Account after the tax has been deducted. Processing of IPO Applications: The broker, on behalf of NRI clients, can apply for IPO relieving the client off the paper work. All the client has to do is indicate the number of shares to be applied for, either through an email or by filling the online application available on the broker’s website (most of the brokers provide such services). TIP – Recommendation/Call of Stocks: Thanks to technology, brokers, today, send SMS and/or email alerts keeping their clients updated about the market. Clients having considerable holding in a particular stock also receive price alerts in addition to the latest market news. Online helpdesk: Due to the boom in technology, brokers today are able to assist their clients through an ‘online helpdesk’, hence certifying that suggestions/solutions are provided to the clients immediately. TRADING PROCESSNon-residents require the following documents depending on whether they are NRI, PIO or OCI:Non-Resident Indian (NRI) requires PAN Card and a copy of the Indian Passport. Person of Indian Origin (PIO) requires PIO Card, copy of Foreign Passport showing Indian birthplace and PAN Card. Overseas Citizen of India (OCI) requires copy of OCI Card and PAN Card. For further details please contact us at: contact@nriinvestindia. com or you may checkout the website: www. nriinvestindia. comNon-residents can invest in both Primary and Secondary Markets with the help of a registered broker. These brokers offer a wide range of services warranting that the clients feel at home while making investment decisions. THINGS NON-RESIDENTS CAN DOVis-à-vis trading, non-residents today can do various kinds of trading as per their convenience. Some of them include:Online Trading (stocks and derivatives)Various brokers give you tools used by institutions and professionals for trading in the Capital Market. Many of them provide an Online Trading Platform certifying non-residents to transact paper-free trading in ‘Equities and Derivatives’ segments. Such Online Trading System provides the most distinct services like Streaming Market Watch, Technical Analysis, AMO (After Market Order), Online Funds Transfer and NRI Online Helpdesk facilitating you to have a pleasant trading experience. Offline TradingAs said earlier, brokers, today, allow clients to place orders for trade through phone, email and/or fax. Mutual Fund InvestmentsNon-resident can invest in Indian Mutual Funds with the help of registered distributors or brokers. Some of them also offer simplified process that is free of all paperwork. These distributors also provide updates on the latest top funds, NAV, and new fund offer. They also provide performance report of various funds to ensure smart investments are made in the Mutual Fund segment. Investment in Initial Public Offer (IPO)Investors can make paper-free investments through select brokers in the Primary Market – Initial Public Offer (IPO). Various details such as current and upcoming IPOs, performance of past IPOs, basis of allotment etc are provided by them making possible for their clients to make hassle free IPO investments. ESOP TradingBy offering value added service in the form of ESOP Trading, few good brokerage houses enable clients to liquidate the Stock Option given by their Employers and remit abroad the sale proceeds or reinvest the same in the Secondary Market. Dematerialisation of Shares bought in Primary MarketUsually brokers assist clients to convert their physical share certificates to electronic form (DMAT Form). All that the client has to do is open a NRI account and submit the DMAT Request along with the necessary certificates, and your broker will take care of everything else. Important: The content above provides general information regarding how brokers help non-residents to open a trading account and let them trade. However, services and regulations may differ from broker to broker. Please check with your chosen broker for the same.

There are numerous ways to learn Forex trading. ? Your best bet to learn the basics of the Forex market is to find a reputable Forex broker. ? Of course you can still get solid Forex education from other sources. ? You can study online or just read important materials about Forex. ? Here are some of the simplest steps you can do to learn Forex and master the art of trading at the currency market. The first thing you have to do if you want to learn Forex basics is to get an account with a reputable Forex broker. ? There are lots of online currency trading brokers out there that allow free sign-ups and membership. ? Once you activate your account, you will be able to utilize the broker?s practice trading platform. ? You can experience actual Forex trading using virtual money provided by the Forex broker. ? In this way, you can certainly learn Forex trading faster because you are participating directly in the currency market. To complement your practice trading, you can also look for an online school that provides Forex training and education. ? Actually, you can request a list of online Forex School from your Forex broker. ? You can use this list to refine your search for a suitable program to learn Forex trading. ? You can also make an independent search for an online institution that can teach you how to trade at the Forex market. ? A formal education on Forex will systematize your learning process which is advantageous for you. Self study is also a good way to learn Forex basic and advanced strategies. ? Again, if you have chosen an excellent Forex broker, you can get lots of reading materials and online resources from it. ? You can still do this yourself and search for good online articles that could teach you how to trade at the Forex market. ? Simply visit any article database site and browse for topics about Forex. ? Choose the ones that provide detailed instructions on how to trade currencies. ? This is also the best way to learn Forex trading for free. Lastly, if you have acquaintances that are actively trading at the Forex market, it is best to seek their opinions and advices. ? You can ask them about the jargons used in Forex trading. ? If you are lucky enough, they can also teach you the finer points of developing an effective Forex strategy. ? Their experience in trading could help you a lot especially in finding opportunities to gain significantly from Forex. ? Be sure however to get advice from those who are successful at the Forex market. ? Trading currencies at the Forex market is not a simple venture. ? You need to learn Forex basics as well as advanced techniques to earn from the market. ? Although it is a little difficult to learn Forex, the task is not impossible and you may find it enjoyable also. ? In fact if you invest a little of your time in learning how to trade effectively, it is not impossible to earn your first million at the Forex market.