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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Online Forex Trading in Sri Lanka

Online Forex Trading in Sri Lanka

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61Online Forex Trading in Sri Lanka - Page 3 Empty Online forex autotrading Tue Feb 14, 2012 5:47 pm

kordel


Stock Trader
Anybody use autotrading platforms when trading with forex ? Or do you any of you provide signals on such platforms , i'm talking about web based online applications like zulutrade , where you the user can follow for free signal providers and copy their signals live to your account. Any info would be great.

62Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Tue Feb 14, 2012 11:27 pm

dinusl


Co-Admin
You should close your eye's and put trades if your going to try auto traders Smile do the analyses before do any trade.

63Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Wed Feb 15, 2012 3:39 pm

kordel


Stock Trader
Well you dont actually close your eyes as there is a way to control some aspects of the trades that your provider will make. You can for example control the stop/loss and the number of max open trades. The thing that you wont control is the trading strategy of the provider , which is where the ranking steps in and helps you find the best traders out there. I dont know this scheme looks fair to me but i want to hear from users that have actually tried it on with real money.

64Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Wed Feb 15, 2012 3:45 pm

dinusl


Co-Admin
I am in the forex industry since in 2007

try to learn analyzing trends..i'll not recommend auto trading.

65Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Wed Feb 15, 2012 8:22 pm

fxmpower


Stock Analytic
Stock Analytic
try zulutrade - small investment, you get quite a results. open demo to see how auto-trading forex is (suits me perfectly as a follower)

66Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Wed Feb 15, 2012 8:41 pm

bePositive

bePositive
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
alparidirectpro.com
mb trading.com
etoro.com

http://www.viabletraffic.com

67Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Wed Feb 15, 2012 10:11 pm

LateTackle

LateTackle
Senior Equity Analytic
Senior Equity Analytic
Have a look at this site and read some of the comments, some steal your money and you have difficulties in getting profits out. Forex trading is a different game altogether

http://forex-ratings.com/

68Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Wed Feb 15, 2012 10:27 pm

STOCK SLAYER

STOCK SLAYER
Equity Analytic
Equity Analytic
Forex trading is legal in sri lanka for my knowledge but if you are not making money in CSE don't even think of making money in forex market.More you invest you will understand...

people say " Greater the risk; Greater the return" so Forex is a risky investment my friend.... affraid

good luck!!!! Sleep

69Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Thu Feb 16, 2012 9:09 am

yellow knife


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
I am into lite forex ...any way study the subject. then use practice account for a long period...then start live

Take Special Care..its not exactly similar to stock trading...i downloaded a tutorial..I learn and play...Be careful...still i have not withdrawn any money..i ve made profits and also losses..it will give good understanding on technical analysis...yet you have to keep up date information

70Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Thu Feb 16, 2012 2:14 pm

fxmpower


Stock Analytic
Stock Analytic
Yes forex might be risky, but most systems now can protect you. I am using a custom stop/loss to each of my signals - this way I protect myself against negative and high draw-down, but when my signals go up I go up with them. I am making 15% monthly return (with losses of course) on a 700$ initial deposit.

71Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Thu Feb 16, 2012 9:39 pm

cseguide

cseguide
Vice President - Equity Analytics
Vice President - Equity Analytics
@dinusl wrote:I am in the forex industry since in 2007

try to learn analyzing trends..i'll not recommend auto trading.
for the benefit of all can you explain
How to start it?
Any site, broker you use
initial investment need etc.

72Online Forex Trading in Sri Lanka - Page 3 Empty Kordel Fri Feb 17, 2012 2:55 pm

kordel


Stock Trader
Yes can you please give us some advice , how did you start at forex , why is autotrading so bad by your opinion , which other methods of trading you wont recommend etc.

73Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Tue Feb 21, 2012 6:43 pm

fxmpower


Stock Analytic
Stock Analytic
I think the guys mean that they are not getting enough out of it, meaning they want to have the higher returns you get from manual trading...but you know this also means higher risk and faster margin call.

74Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Wed Apr 25, 2012 6:26 pm

fxmpower


Stock Analytic
Stock Analytic
@kordel wrote:Yes can you please give us some advice , how did you start at forex , why is autotrading so bad by your opinion , which other methods of trading you wont recommend etc.

i found a platform that can be quite a good start - check out zulutrade Smile

75Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri May 18, 2012 3:49 pm

fxmpower


Stock Analytic
Stock Analytic
Kordel, guys, any comments?

76Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri May 18, 2012 5:09 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Kordel, dinu has a point with auto trading their are issues such as lagging trades not taking, I too would not advise to follow it blindly. It's better to learn rather trusting someone you have no idea what he will do with ur hard earned money. People get burned and exit fx market within the first year. I'm in this trade before came into cse. I'm still trading on my own using technical analysis and to some extent I use fundamentals

77Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri May 18, 2012 5:32 pm

fxmpower


Stock Analytic
Stock Analytic
Traderathome, you have a point, totally!
though what happens what you either do not have time to engage in manual trading? ....or you simply does not understand the forex markets and the drives behind it, not all are economists born and cannot simply learn. Afterall, you cannot play trial and error with your money! So, in this case trust your broker, your fund manager, or your fx trader for that matter (once you see a solid record of performance - and this is visible on the trades he makes, the DD%, and the overall trading management he performs).

78Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri May 18, 2012 5:34 pm

stumpy

stumpy
Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
@dinusl wrote:I am in the forex industry since in 2007

try to learn analyzing trends..i'll not recommend auto trading.


Dinu, nice to meet ya dude! Very Happy

79Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri May 18, 2012 8:40 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Just closed one position of my gold @1594

80Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Sat May 19, 2012 9:36 am

malanp


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics

Tradeathome

How do we get into forex and gold trade? i just want to try with a small amount.

Pls let me know.

thanks

81Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Sun May 20, 2012 12:11 am

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@malanp wrote:
Tradeathome

How do we get into forex and gold trade? i just want to try with a small amount.

Pls let me know.

thanks
Use fxopen open up a cents account you try with 100$, lite forex is another good broker but both are market makers. Means they will trade against you. The best are ecn brokers their spreads are very competitive and will not trade against you meaning will not take opposite side of your trade

82Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Mon May 21, 2012 3:52 pm

fxmpower


Stock Analytic
Stock Analytic
@malanp wrote:
Tradeathome

How do we get into forex and gold trade? i just want to try with a small amount.

Pls let me know.

thanks

why doncha try aaafx - also a good broker Smile

83Online Forex Trading in Sri Lanka - Page 3 Empty CB warns on illegal forex trading Wed May 30, 2012 5:01 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
The Central Bank warned today against advertisements being made in the print and electronic media and Internet and, unsolicited e-mails being circulated, by some companies proprietary concerns and individuals exhorting the public to engage in foreign exchange trading with assurances of guaranteed high returns.

"Some companies and proprietary concerns have even engaged their employees or agents who would personally contact the members of the public to entice them to undertake forex trading with promises of exorbitant returns. These agents and the advertisements on the Internet and in the print and electronic media often exhort, people to trade in foreign exchange, depositing an initial investment in Sri Lanka rupees with a company, proprietorship concern or individual in Sri Lanka to be transferred later into an online account or, payment through credit, debit or any other electronic funds transfer card direct to an online account opened in the name of the investor," a statement from CBSL Exchange Control Department said.

It further noted the Central Bank in the recent past has come across instances where several persons have lost large sums of monies due to the above activities carried on by some unscrupulous individuals and companies.

"The Central Bank wishes to inform the general public that undertaking foreign exchange trading transactions and remitting payments outside Sri Lanka for such transactions by any person without the approval of the Central Bank is illegal and violation of the provisions of section 5(1) and 7(a) of the Exchange Control Act. This is considered as a punishable offence under the Exchange Control Act and we request general public not to fall prey to such transactions."
http://www.nation.lk/edition/breaking-news/item/6600-cb-warns-on-illegal-forex-trading.html

84Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Tue Jun 05, 2012 11:57 am

Flashmark


Equity Analytic
Equity Analytic
This one of the worst descion CB made. CB should take legal actions against those fraudulent brokers and agents. Forex is not a gambling people can not earn money without proper knowledge.Even with proper knowledge some people get lost.CB should warn people about that.If forex is illegal, stock market trading is also illegal. People will lost because of stock trading too.Same theory apply to forex as well. compare to our stock market, forex market is much better.No manipulators there.

So anyone know what CB going to do for our forex accounts? How we get permission from them to continue forex trading?

85Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri Jun 08, 2012 11:58 am

Flashmark


Equity Analytic
Equity Analytic
any update?

86Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri Jun 08, 2012 12:21 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Flashmark wrote:This one of the worst descion CB made. CB should take legal actions against those fraudulent brokers and agents. Forex is not a gambling people can not earn money without proper knowledge.Even with proper knowledge some people get lost.CB should warn people about that.If forex is illegal, stock market trading is also illegal. People will lost because of stock trading too.Same theory apply to forex as well. compare to our stock market, forex market is much better.No manipulators there.

So anyone know what CB going to do for our forex accounts? How we get permission from them to continue forex trading?
cb is scared of funds going out of our country. i think in india it is allowed. in srilanka only pyramid schemes are allowed and when got caught to the authorities they are scot free..... Crying or Very sad this is the srilanka way of doing things.... forex market of so huge so only big playas like central banks can and major banks with huge funds can manipulate to an extent.......if combined together.... Cool Rolling Eyes

87Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri Jun 08, 2012 2:32 pm

Flashmark


Equity Analytic
Equity Analytic

I called and asked from central bank foreign exchange division about this. Person who answered my call, said that forex trading is illegal and if you have money in account withdraw it immediately.Also they have no plan about giving permission to individuals and he said it is legal only for commercial banks. As per my knowledge none of the country totally ban forex trading for individuals other than Sri Lanka.

88Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri Jun 08, 2012 2:36 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@Flashmark wrote:
I called and asked from central bank foreign exchange division about this. Person who answered my call, said that forex trading is illegal and if you have money in account withdraw it immediately.Also they have no plan about giving permission to individuals and he said it is legal only for commercial banks. As per my knowledge none of the country totally ban forex trading for individuals other than Sri Lanka.
buggers are living stone age...... CB/SEC keeps quiet on insider dealing manipulators while the perpetrators are doing with impunity....and became billionares by speculating where tech/fund do not confluence..... and can not justify such huge moves to the upside in such short time Very Happy

89Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Fri Jun 08, 2012 10:43 pm

reez


Manager - Equity Analytics
Manager - Equity Analytics
can u remember, i published this issue. bt no one believe it

90Online Forex Trading in Sri Lanka - Page 3 Empty Re: Online Forex Trading in Sri Lanka Sat Jun 09, 2012 6:05 pm

traderathome

traderathome
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
ape kale pinata upan cabba Mad

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