Why do I trade Forex?

Because I am ABSOLUTELY CONVINCED that this is the best "business" in the world.

There are:

1. No rent of offices (that is, NO dealing with Realtors, Lawyers, and government departments...man, what a pain in the ass). Also no office fit-out costs.

2. No staff, (man, unless you have had large numbers of staff depending on YOU for their pay packet each week, you cannot know what a huge pain in the ass it is. They ALL want you to solve their problems).

3. No inventory or stock to buy. No shrinkage (theft of stock) and no "slow moving" items. No massive amount of funds tied up in inventory.

4. You can "borrow" as much as you want (by increasing your leverage), WHENEVER you want. (Try running a big business and going to the bank for a short term loan for $1 million...it will take a month minimum). I am trading $1-2 mill all the time and I get it instantly through the brokers by the use of leverage.

5. If the business becomes a hassle for whatever reason, you can shut it down (that is, close all positions) instantly...and re-open (initiate new positions) whenever YOU want to re-open your "business."

6. You can "scale" your business to whatever size YOU want simply by increasing/decreasing your positions.

7. Absolutely minimal paperwork. Simply send your 12 month summary Profit and Loss Statement to your Financial Accountant for tax payment purposes.

8. You can trade from anywhere in the world. I like to travel a lot. (take your laptop or PDA or whatever else they will come up with and trade while sipping a nice drink as close by as your local cafe or as far as some open air cafe in some remote little town in beautiful Sydney while you watch a cricket match at the park.)

I could keep telling you more of the benefits of this business, but suffice to say this is the best "business" in the world. I run a multi-million dollar business from my laptop.

And did I mention that it was exciting and rewarding????

If you want to know more, please contact me here: yourstanmay@gmail.com

Forex, What it means for me.

“You sit in front of your laptop working on the internet, get your breakfast, lunch and dinner on your chair, be in your pajamas’, and at the end of it all, call it WORK!” My father exclaimed. “Your generation sure has it easy!” I sighed in surrender. My elucidations about the attempt drawn in would make no logic to him.

Internet, unfortunately enough, is still a mode of communication or entertainment for most of the Indian users. Why are we so fearful in experimenting something (like make a living) out of the way, I may never understand. I think we admit defeat because of the social pressure and our own anxiety. I am earning full time through this mode and making a good living out of it. If you want to stand on your own feet without anyone else’s help, have the fire in the belly and the determination to succeed, and are not afraid of failures, jump on to the internet and find something to make a permanent source of revenue.

WHY I CHOSE TO BE A FOREX TRADER

Life is so unpredictable that you can never be certain of it. “Man proposes, GOD disposes”, well this was an absolute perfect statement for me. I was a good student through out and after my Graduation in Information Technology; I completed my MBA in 2004 from France.

Everything ahead was looking rosy. A job in an MNC, a house in suburbs of a metro city in India or abroad, good exciting life-style, social status and a handful of bank-balance and a perfect start to the professional career. I got a job with a big Indian organization and started working for my dreams. I was hardly getting into the groove before disaster struck and I lost my beloved mother. Now I had 2 options, either to continue working for my dreams or to look after my devastated father and live with him to support at the hour of crisis as well as do something so that my career does not come to a point of hold. My inner instincts told me to live a balanced life and not just think about my own dreams, and therefore I decided to quit my job and stay with my father. I then contacted my friends abroad who suggested me to either work on the Indian Stock market or Work in Foreign Exchange through the internet and I chose the latter.

EXPERIENCES AS A NEWBIE

Forex trading is buying and selling the foreign currencies of dissimilar countries. It has a resemblance with stock trading in that the foreign currencies behave like shares of the currency institutions of the countries. Like stock prices, these also move up and down with time-dependent volatility. It is possible to buy a currency low, buy long and sell short another high currency. It needs scrupulous chase of the exchange rates of currencies one wants to trade. One needs to keep up a continuous examination of the trajectory every particular currency vis-à-vis the other currencies, pair-wise.

It was new, it was intimidating and it was difficult. But as they say, life is never easy. I had to start from the basics. I downloaded a few books on Forex and kept studying basics to first understand as to how it works. It took me a lot of time to really get into it. Social pressure was building, everyone thought that this boy has surrendered after his mother’s death and will not be able to do anything in this life. They thought and said that it was a dream run for me in the past, but I will heavily suffer as I have lost my way.

If I had to tell people, that I am a Forex Trader, people ridiculed me and said, “Good on You Mate, I hope you know what you are doing. What will you tell people as to what you are doing? How will you earn and get married by doing such crap? How can anyone work from home and earn good than a job in any office? How will you receive the payment?”

My friends started to get jobs in MNC’s and everyone slowly but surely found their way. I was stranded alone but not ready to give up as my father’s life and my career, both had equal importance. I took help and internet is one place where you can really keep on exploring things till you get what you are looking for. I found one gentleman who showed me the way, guided me to the various Forex platforms and told me how to succeed in this World’s largest market.

Now, for the past 4 years, I am making a living out of it and satisfied to the fullest. I just turned 27 about five months ago and I do not know how many of the readers would treat me as a mature man. But if you do want to trust your instincts and do something different in life, I would strongly recommend you to join Forex and start trading.

To learn trading, go to (www.babypips.com), and for video learning, search videos on youtube. To receive and send payments, I would recommend you to open a paypal account (www.paypal.com) account. To get updated about the Forex technical systems, I would suggest you to visit www.forexfactory.com and from the forum, select a broker of your choice and demo trade as much as you can for free without putting real money. Visit these sites and read the FAQ’s to learn more. This business has an unimaginable capacity but do not let the greed factor take over your mind. Life still has no short cuts. Work hard and get rewarded. It’s not a get quick rich scheme, you can earn good but you can lose more if you release the concentration. Stay focused.

If you are a courageous person and have a power to take risks in life with a cool, calm and calculative approach, and do not want to work for anyone else, Forex Trading is just for you. I promise that 5 years from now, more and more people would be doing this in India and who knows, if you join early, you can be a mentor for many of them.

Wish you luck, and Happy Forexing.

TANMAY MISRA

Place: - Lucknow, India

Email: - yourstanmay@gmail.com

“If you desire intensely and act upon it, then everything stands with in your reach”