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  • #10,041
  • Jun 16, 2014 6:58am Jun 16, 2014 6:58am
Quoting ClockTrader
Does anyone here know how Indians fund their Forex accounts? Banks will cancel debit/credit cards if I use them. I can't send wires either. Technically from legal point of view, Forex is now fully banned for Indian individuals. I know how it sounds like and its kinda off the the topic, but, any help would be highly appreciated.
Yes, we cant transfer. Using second source only we do that.
Arun
  • #10,042
  • Jun 16, 2014 7:02am Jun 16, 2014 7:02am
Quoting arunthegreat
{quote} Yes, we cant transfer. Using second source only we do that.
Are you talking about skrill?
Hello World!
  • #10,043
  • Jun 16, 2014 7:03am Jun 16, 2014 7:03am
Quoting bonnzi
{quote} why is that?
The Govt does not want money from here to flow out of India.

Close door policies and sh!tty stuff like that. The way I see its good, 98% would lose anyway.
Hello World!
  • #10,044
  • Jun 16, 2014 7:15am Jun 16, 2014 7:15am
Quoting ClockTrader
{quote} The Govt does not want money from here to flow out of India. Close door policies and sh!tty stuff like that. The way I see its good, 98% would lose anyway.
I think this is outrageous mate. No to be allowed to do with your money whatever you like
On the other hand that would be a huge business opportunity someone is gonna benefit from
  • #10,045
  • Jun 16, 2014 7:21am Jun 16, 2014 7:21am
Quoting ClockTrader
{quote} The Govt does not want money from here to flow out of India. Close door policies and sh!tty stuff like that. The way I see its good, 98% would lose anyway.
yea, even usa does like that, but in a different way. like it allows people to trade but not with outside brokers.
Arun
  • #10,046
  • Jun 16, 2014 7:21am Jun 16, 2014 7:21am
Quoting bonnzi
{quote} I think this is outrageous mate. No to be allowed to do with your money whatever you like On the other hand that would be a huge business opportunity someone is gonna benefit from
Have you ever seen members active here? in this and other threads? People keep coming and going. Very few have been around since the starting of this thread. The logic is that 98% people quit Forex within 2 yrs, now that is a broad pic. I think more than 60% lose and quit within 3 - 6 months.

I know its hard to understand, but, the Govt policy is right, they know that almost every individual will lose, so better stop them with force :-)
Hello World!
  • #10,047
  • Jun 16, 2014 7:27am Jun 16, 2014 7:27am
Its not a matter of losing or winning. Its a matter of freedom. I must have the right to throw my money straight into the bin if a want to,right?

edit: anyways lets stick to the gold issues i do not want to get into argument about topics and places i am not familiar with
  • #10,048
  • Jun 16, 2014 7:32am Jun 16, 2014 7:32am
Quoting ClockTrader
Does anyone here know how Indians fund their Forex accounts? Banks will cancel debit/credit cards if I use them. I can't send wires either. Technically from legal point of view, Forex is now fully banned for Indian individuals. I know how it sounds like and its kinda off the the topic, but, any help would be highly appreciated.
since when?

I've funded my markets.com account literally by all means like skrill, neteller, debit card and wire too.
  • #10,049
  • Jun 16, 2014 7:35am Jun 16, 2014 7:35am
Quoting bonnzi
Its not a matter of losing or winning. Its a matter of freedom. I must have the right to throw my money straight into the bin if a want to,right?
Freedom :o) such a nice word, yet this "Privilage" and so called "Birth right" has long been lost in the civilized world as in the civilized wolrd : "Freedom" = you can do whatever "WE(Goverment)" allow you.
But I still like the illusion of it :o)
  • #10,050
  • Jun 16, 2014 7:35am Jun 16, 2014 7:35am
Quoting bonnzi
Its not a matter of losing or winning. Its a matter of freedom. I must have the right to throw my money straight into the bin if a want to,right? edit: anyways lets stick to the gold issues i do not want to get into argument about topics and places i am not familiar with
Yea I appreciate the freedom of people to do what they want or to throw money. The problem is next day you again want some money and if ppl dont get it, they finally blame the govt. They dont want you to throw outside india, but inside the country. Thats why they allow mcx, equities.
To find a solution, they must allow forex like usa doing, so that money is not thrown outside India.
Arun
  • #10,051
  • Jun 16, 2014 7:54am Jun 16, 2014 7:54am
Quoting ClockTrader
Does anyone here know how Indians fund their Forex accounts? Banks will cancel debit/credit cards if I use them. I can't send wires either. Technically from legal point of view, Forex is now fully banned for Indian individuals. I know how it sounds like and its kinda off the the topic, but, any help would be highly appreciated.
u can deposit through skrill and if your any close relative live in abroad whome u can trust , give your card details , he can deposit from other country. i try both method as it is also banned in pakistan too
  • #10,052
  • Jun 16, 2014 8:03am Jun 16, 2014 8:03am
waiting for 126x area to take profit
  • #10,053
  • Jun 16, 2014 8:07am Jun 16, 2014 8:07am
Quoting ClockTrader
Does anyone here know how Indians fund their Forex accounts? Banks will cancel debit/credit cards if I use them. I can't send wires either. Technically from legal point of view, Forex is now fully banned for Indian individuals. I know how it sounds like and its kinda off the the topic, but, any help would be highly appreciated.
Money wire online.
  • #10,054
  • Jun 16, 2014 8:11am Jun 16, 2014 8:11am
Perhaps then it is good idea for the Indian Gov to forbid people to travel abroad so that they are prevented from spending outside of India
  • #10,055
  • Jun 16, 2014 8:12am Jun 16, 2014 8:12am
Quoting noobstrader
{quote} since when? I've funded my markets.com account literally by all means like skrill, neteller, debit card and wire too.
I received a letter (through Post) + several emails from HDFC Bank that they will cancel my account + cards if I use these for Forex funding anymore. They also said that they are supposed to report such matters to RBI.

Thereafter, I Googled and found below:

http://www.firstbiz.com/economy/rbi-...ans-46887.html

http://www.dailyfx.com/forex_forum/o...dian-bank.html

Does anyone here use HSBC (Hong Kong) ?
Hello World!
  • #10,056
  • Jun 16, 2014 8:12am Jun 16, 2014 8:12am
Quoting bonnzi
Perhaps then it is good idea for the Indian Gov to forbid people to travel abroad so that they are prevented from spending outside of India
If they could, they would, lolz
Hello World!
  • #10,057
  • Jun 16, 2014 8:14am Jun 16, 2014 8:14am
Quoting stylinex
{quote} Money wire online.
Few days back I personally visited HDFC branch, they say I could send a wire to some person (individual) after answering all their questions, to a company (corporate), no way

I know this all is too ridiculous to discuss, but I'm just sharing in order to find similar people who may have a solution
Hello World!
  • #10,058
  • Jun 16, 2014 8:49am Jun 16, 2014 8:49am
Gold seems to respect the top channel line, while previous support also acting as resistance.
Attached Image (click to enlarge)
Click to Enlarge Name: Image1.png Size: 33 KB
The only winner is the one who survive the longest...
  • #10,059
  • Jun 16, 2014 9:24am Jun 16, 2014 9:24am
Reasonably good correction so far for today and guess what? not a single trace of bottom out, which implies that downside is pending.

I'll await lower levels to fill up my Gold Tank with loads of longs.
Hello World!
  • #10,060
  • Jun 16, 2014 9:57am Jun 16, 2014 9:57am
Quoting ClockTrader
Reasonably good correction so far for today and guess what? not a single trace of bottom out, which implies that downside is pending. I'll await lower levels to fill up my Gold Tank with loads of longs.
Time to call it a day, the PA has been as per expectations, shorts are working fine, longs are in place for seasonal action. Have a nice one you all!

PS: Hedged 55 - 60% of longs in the 70-80 range
Hello World!
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