Forex trading is one of the most rewarding investment activities in the world. According to an average estimate, the forex market undergoes a daily trading volume of more than 6.6 Trillion U.S. Dollars. However, in some jurisdictions, people are not allowed to carry out forex trading, or they may face some limitations. India is among such countries where forex trading is subject to strict regulatory restrictions. Traders are allowed to trade INR-based currency pairs and certain cross-currencies with Indian regulated brokers.
Despite multiple regulatory restrictions, forex trading has become increasingly popular in India – read this if you are looking to start Forex & currency trading. Traders see forex trading as one of the most potential markets to generate lucrative returns in a short time. There are so many successful traders out there who are making handsome returns with forex trading in India. Some of them are listed below;
Successful Forex Traders In India
#1 Pravin Khetan
Pravin Khetan is one of the most successful traders in India. With over ten years of trading experience, Khetan has been teaching students the art of successful trading across multiple financial markets. His area of expertise includes forex trading, stock market, commodity trading, technical & fundamental analysis, and portfolio risk management.
Khetan has more than 2 lac subscribers on his youtube channel. He also owns a website where he offers paid courses in different financial domains. He also teaches finance-related subjects to help traders understand the practical application of theories into the real world scenario. You can also follow him on multiple social networking channels, such as Twitter, Instagram, and Telegram.
#2 Anish Singh Thakur
Anish Singh is a young forex and stock trading professional from India. Singh started his professional career at the age of 19. Over the years, he gained expertise in price action strategies and advanced risk management. He is the founder of Booming Bulls Academy. It’s a forex and stock market training institute.
Anish Singh has 239K followers on his youtube channel. He has also shared his forex journey with his fans to get them motivated. You can find multiple educational videos related to forex and stock trading on his youtube channel. He also manages a website where he shares his trading results as well as personal contact information.
#3 Atul Shrivastava
Atul Shrivastava is also a forex and stock market specialist with years of experience in the investment industry. It’s been three years since Shrivastava joined the youtube platform. He managed to attract hundreds of thousands of investors from all over India in just three years.
Atul Srivastava teaches people the skills to manage investments. He doesn’t focus on any specific area. Instead, he helps traders learn the art of portfolio management. With over 426K subscribers, his youtube channel is one of the most followed educational channels to learn forex, equity markets, and mutual funds investment strategies.
# 4 Arvind Singh
Arvind Singh is a well-known forex trader in India. With nearly 160K subscribers on youtube, Arvind Singh is widely followed for his real time tested trading strategies. Helping traders to learn how to trade forex successfully, Arvin also guides the method of performing detailed market analysis to figure out suitable trading opportunities. Besides his youtube channel, you can follow him on his Facebook and Instagram platforms.
# 5 Zia ul Haque
Zia ul Haque is a valuable addition to the list of successful forex traders in India. Zia helps people to learn how to invest their hard-earned money into forex safely. He also guides people on price action strategies and the usage of different technical indicators to remain successful while trading forex.
Traits of Successful Forex Traders
Forex trading can yield high returns in a relatively short period. However, it is still a riskier form of investment. Therefore, you need to be very careful while opening and closing your positions. After getting the basics of currency trading down, you need to develop some traits that may help you achieve your goals. Given below are some traits and qualities of successful forex traders.
Discipline is one of the most significant traits of successful traders. Fore market is vast, having thousands of trading opportunities arising every minute and obviously you can’t grab all of them. Therefore, a disciplined trading strategy with some self-defined rules can help you to remain consistent. A majority of traders find it difficult to maintain discipline in trading. Successful traders always trade with a disciplined approach. There is a saying famous among traders, “Always plan the trade, and then trade the plan.”
Patience is another important trait of successful traders.You sometimes need to hold your horses and wait for the appropriate time. Entering or exiting a position too early or too late often leads to losses in trading. Therefore you need to be patient and stick to your trading strategy without being influenced by surprise market movements.
Most of the time, there is high liquidity and volatility in the forex market. It doesn’t offer uniform trading conditions. Therefore, adaptability plays a major role in the success of traders. You need to keep an eye on the market and adjust your trading strategy accordingly.
4) Control on Nerves
Forex trading is all about controlling your nerves. You might feel disappointed by losing trades over and again. Successful traders, on the other hand, keep themselves motivated and have an attitude of learning from their mistakes.
5) Rational Thinking
Successful forex traders believe in continuous learning. Although the past performance of an underlying asset is important to make a trading decision. However, you must also use your own logic. Try to assess the performance of an asset critically, and make rationale trading decisions after considering all possible scenarios.
Forex trading in India is subject to multiple regulations. You can be in trouble if found in breach of conduct. Therefore, always make sure to follow the RBI guidelines while trading forex by reading this and this.