Comment on Query of the Day
commented on
11 Oct 2013, 08:56 AM
1. Currency trades on both NSE and MCX-SX
2. To trade currency you need to open a trading account with us, if you have opened one for trading equity that would do provided you have opted for currency trading. If you haven’t, you need to send an segment addition form.
3. While trading currency, it has to be traded against another currency, this is called a pair. For example if you want to trade USD, then if you want to bullish or bearish about it, you need to know against what currency you will feel so. USDINR is a currency pair.
4. In India you can trade between 9am to 5pm.
5. Lot size varies based on what you wish to trade, USDINR is 1000 dollars. Margin required for trading this overnight will be around 5 to 8% of contract size based on volatility.
6. Various factors from CAD, inflation, interest rates, movement of FII money, stock market performance and etc have to be considered. Best way to trade currency is using technical analysis since there are too many factors to worry about.
7. Like above
8. Indians are not allowed to trade on global currency markets.
9. Presently it is illegal to trade currency other than on NSE or MCX-SX
10. USDINR is volatile and has enough liquidity.
Cheers,