One of my friend is an employed person, so he cannot trade in indian market, so basically i give him the idea to trade in forex market, but we both have zero knowledge about forex and how it works from basic to advance, so do you guys recommend something (videos, articles like zerodha varsity, blog, etc.) to learn forex from basic to advance
Thank You 
Howcome? 
Curious…
Since you admit that you have zero knowledge of the forex market,
what prompted you to suggest forex trading to your friend?
Cause he work from 10 Am Till 5 Pm
cause its 24 hrs market and he is a night owl, so he can trade there easily
Hi @Jeesu,
Before starting your trading journey it important that you obtain a good understanding of the FX market structure and the fundamental drivers that move them. Once you’ve done this you can start applying and refining some basic forms of technical analysis whilst executing trade on a demo account to practice your practical application of this knowledge and the development of a structured trade plan.
When looking to develop your trade plan try to follow the STEM setup format. Start by identifying what your hold period is likely to be, whether it is intra day or swing trades. From there you can selected the timeframes that you can analyse and execute the trade on in order to achieve your chosen hold period.
From there, I’d then recommend that you create a fundamental bias for direction based on the current economic conditions from each county such as their monetary policy stance, inflation etc and where they’re heading. A good site to get this information from is “TradingEconomics”
After this you can start look for currency pairs of your choice that are ‘in play’. An example if an in play pair might be, if you could have a fundamental bias that GBPUSD is likely to move lower in the medium term, you may then want to see that on a 4hr chart GBPUSD is trading under a 200EMA in order to confirm that price action is going in the same direction as your fundamental bias.
At this point you can look to apply the strategy that you have developed, with consistency being key. This strategy could be any number of things but a good base to start from might be Fibonacci retracements, moving averages, trend line and support/resistance levels.
Once you have tested your strategy on a demo account, reviewing trades and altering the strategy if needed, you can start to apply this to a live account with strict risk management.
I think best way to learn trading is to do it on the side while having a job/college etc whatever that takes most of your time. It is possible unless you work in an extremely strict environment then it’s understandable. It’s like a business at the end of the day if you think you can’t start a business until you leave your job then you’ll pretty much never start a business. Best way is it to it on the side until it’s profitable and then do that full time when you can completely rely on it.
Also about forex i think it’s banned in India, you could trade Currency derivatives in the past but they banned that also unless you have underlying exposure to currency so yeah pretty much not possible. If you still wanna trade only during non job hours then best would be commodity, NaturalGas and Crudeoil especially are beautiful instruments to trade (tho not right now because metals are much better at the moment) But margins are pretty high for them remember that.
Thanks these information contains lot to me, really a big thanks, i found some website who teach fx market from basic to advance, i need some time to understand that market.
By the way, do you suggest some broker ??
I have binance, but i dont know when gov will unbanned it
Yeah, i also told him about these point. and he treated these same as me
I dont know whether forex is banned in india, if so, i need to study these case, although i know about RBI currency circular, but forex …
Commodity got closed around 11 or 11:30 PM, and he is a night owl… i mean according to him, commodity gonna be hectic .
But, Thanks for your advice. I will keep your point in mind
I mean in that case US markets are the only option haha but idk if that is possible
i heard about INDmoney where you can invest in foreign country?? whats your view on INDmoney ?
When I started learning about forex, I was completely lost too. I found that a mix of resources worked best for me. YouTube has some fantastic channels that break down concepts from the basics to more advanced strategies. Zerodha Varsity is also a solid choice; their articles are super informative. I loved diving into their material when I was starting out.
which modules help you in forex ?? and can you share me some YT channels
Zerodha Varsity is also a solid choice; their articles are super informative. I loved diving into their material when I was starting out.As you both gain confidence, you might want to look into using a forex robot. I tried one when I was getting the hang of things, and it really helped automate some trades while I focused on learning the market. Just remember, start small and take your time!
lets say we are profitable in forex trading. how we gonna pay taxes on them ?
i dont know the tax structure, but i can sure that you have to pay half of your income
Thanks brother 