Finance Minister presented the union budget on 1st February, and the equity market responded it with thumbs up. The surge started in the morning continued till the end of the day. Not only the stock market, but every stratum of the society praises the comprehensive approach of the finance minister.
Forex market was also not an exception to it. The winning run continued yesterday and the rupee opened with a one-month high value against Dollar. The surge was around 25 paise as compared to the previous close.
While the union budget was the biggest booster behind the surge, there were several other factors such as heavy inflow by FII and selling of Dollars by Banks and exporters.
Earn handsome money by Forex Trading this year
Since the market seems to be motivating, you must choose some bold strategy this year to add a few bucks to the kitty. Get rid of the old-fashioned thinking. Consider new and exciting ways like FOREX. In fact, it is the right time to Start Online Forex Trading now.
There is no need to worry about financial losses. If one goes ahead carefully after understanding the core concepts of it, then the possibility of loss would be feeble. On the contrary, you would be reaping the benefits of the high tide.
As far as the forecast is concerned, the economic growth is likely to be in the range of 6.7 percent to 7 percent next year. Earlier, it was projected 6.5. Thus, investors have good reasons to smile.
Should you start live trading directly?
Not really! You should undergo the free online forex trading training before trying live transactions. Grab the basics first. Read about FOREX and FOREX Trading as much as possible. The more you read about it, the deeper will be the insight.
Opening a Demo Account is also a good idea. It is a replica of a live account. The only thing is, you don’t need to spend actual money for buying. Of course, there are no real profits either.
Demo account makes you an expert FOREX trader. There are always ups and downs in this market also. Hence, you should be vigilant about the market dynamics. Look at the bullish and bearish trends and alter your strategy accordingly. Timing and presence of mind are required to earn handsome money by forex trading in India. Practice hard to become an expert on it.