Hi krishiyer, I trade futures i.e.Euribor,Eurodllar,Fgbm,Fgbl,Fgbs,ZF and ZN basically spread trading. Quiet intereting lots of liquidity.. actually looking forward to trade forex futures if possible sort of spread trading. Iam based in india(mumbai) Ibtrader
happened on to this thread from google. i'm an indian fx trader from malaysia. looks like the retail fx market in india is still in its infancy, which is a bit funny seeing that there are some excellent fx advisory sites based in india. Why is this? regulatory restrictions or is the general investment atmosphere in india still the domain of the vv rich??? looking to start up a business in india providing trading alerts in spot fx... might have to reconsider
Folks, what are your opinions on this article...?? Why India Doesn't Trust Citizens With $100,000 http://www.bloomberg.com/apps/news?pid=20601039&refer=columnist_mukherjee&sid=azTHJlfH7nWs
Any one who wants action on India- Trade IBN-ICICI Bank Ltd HDB- HDFC Bank Ltd TAM-Tata Motors Ltd They have good volume & trend nicely. Avoid INFY,SAY,SIFY etc as Indian rupee appreciation +wage inflation is denting their bottom line. Iam not trading Indian stocks at the local exchanges as Iam dead tired anyway when I finish US markets at 2.30-3AM. There are too many taxes! too low volume.+ plus I have no cash in India!! But front line stocks have indeed done well in the last 6 months. (Reliance Industries Ltd - only stupid GDR no ADR State Bank of India- no ADR ) Would like to hook up with fellow Indians/ Ex Non Resident Indians who are trading out of India currently - ES,ER2,YM,ZB,CL + equity/SPY options.No spread trading . Iam using Quote tracker + IB. would like to meet that gentleman (anugu?)using Trade station. I badly need to automate. Chennai,Bangalore,Hyderabad- can meet as I have 2 residences in these towns. Spot Forex - please excuse. I do trade CME currency futures occassionaly (only during us time) or buy CME currency call/puts.
For people who are curious about internet connection in India---As far as Internet connection goes- you get reasonably reliable 256 kbps ( unlimited) ADSL line from BSNL, TATA Indiacom, Airtel etc. ( Rs 2000=$45) ( But It is really not even 128 kbps!!!!) very backward compared to Europe /US! It is best to have 2 internet connections from 2 providers. However I have currentlly have one connection + Dlink router running 3 Pcs (stone age P3 relics with 19/21" CRT!!Radiation is killing me slowly!!)with TWS & 3 instances of QT. still,Iam able to scalp nicely. If you get the latest Intel 6300+ with a good GPU for multiple (dell 20" LCDmonitors)- you can do much much better!( prices here are double that of US!) There is power outage. Fortunately not during the night. So US trading hours are relatively safe from power cuts if you live in the heart of the city. For comparison -internet rollout in big metros in India is much better than Philippines, Thailand, Indoneisia etc Of couse Internet speeds at Singapore /Hong Kong are the best in Asia. Japan should be good too but I have not tried in the recent past.
krishiyer, The Bloomberg article that I posted implies that trading with margin (stocks, futures etc) on US exchanges is not permitted for Indian residents and that only hedgers can take positions on US markets. Is this true? If so, it is a big step backwards (and not logical at all because futures trading on the domestic Indian exchanges seems to have taken off big time). But then again, Chinese citizens are prohibited from investing/trading overseas and they dont seem to mind...