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www.abplgroup.com - Asian Voice 13th September 2014
Dear Financial Voice Reader,
Making Money From the Pound and Scotland As I said on BBC News, ‘it’s been like shooting fish in a barrel’ with the Pound falling against the US Dollar. A friend of mine, a non-trader by background, has just made over $250,000 trading using spreadbetting. Given spreadbetting carries risks of losing more than your original capital, I wanted to make sure his strategy was sound. So I thought I would share it with you all, because he uses mywww.Sharescope.co.uk/alpesh to make his returns and my http://etx.tradermind.com – so I felt responsible for any risks he may be taking. But first let me give you my take on the markets because this is vital to understanding how you can make returns. My friend and I have a view that the FTSE will drop from current levels at least 200 points over the next month. This is because money will be taken off the table after some ridiculously sharp rises despite lots of negative market news. Instead of looking for excuses to buy, soon we will look for any excuse to sell. So our strategy? Looking at the 1 minutes chart, with very small size bets to our overall capital, we just sell short when the market rallies, and also when it falls sharply – but in both instances we pocket small gains. Also, if the position moves against us, and goes up, we just wait those trades out until they turn to gains. This strategy only works when you trade very small amounts, so you can hold position for a long time, when you are very confident of your overall view (in this case a fall). He collects a lot of small wins, and as long as the market moves south, will not have big losses. To save time, he will place limit (ie take profit orders) and leave the market. We also thing the Pund will continue its fall commenced in July – the only hiccup being the vote over Scotland – we don’t want to risk calling that. Don’t get me wrong about all this negativity – the FTSE will hit an all time high before year end; it will just drop first. Can you trade with a £1k account and Sharescope – is then the next question. I am often asked this and so I thought I would do an experiment. I opened a £1k account and placed small bets of around £0.5 to £4 per point move in the GBP/USD and FTSE values. The strategy used is the same as mentioned above. The account was up 15% in a week. Now I am an experienced trader and these were exceptional times – I don’t return 15% per week every week! Rules: 1) Your expectation is the FTSE will fall over the next few days and weeks and are willing to wait for that, by holding any losing positions until then. 2) You bet small amounts eg £1 per point on a £1,000 account to ensure if you are wrong, losses are small 3) As the market falls, you set orders to sell short if it rises, and a take profit limit at the same time to pocket small gains. 4) Your reasoning is the market when it falls, may pullback, and then fall again. 5) You are ‘scalping’ and the 1 minute and 5 minute Sharescope charts are the ones you focus on.
India to sign free trade pact on services, investment with ASEAN
Having received the relevant documents, India will soon sign the IndiaASEAN Free Trade Agreement (FTA) in services and investments, commerce secretary Rajeev Kher said. The agreement documents could not be signed at the India-ASEAN Economic Ministers meeting in Myanmar last week as Commerce Minister Nirmala Sitharaman could not attend owing to other engagements. "Unfortunately because the minister had compelling engagements here, she could not attend the Ministerial meeting last week but we now have received the agreements on services and investments and the minister would shortly sign them," Kher said. The agreements have to be signed by the economic ministers before they are formally adopted. These are now being signed through circulation, by which countries sign the documents one by one. The formal adoption is likely to be during the next India-ASEAN summit later this year. All
ASEAN members are expected to get the pacts ratified by their legislatures by that time. India and the ASEAN already have a FTA on goods that was implemented in 2011. The two sides had finalised the FTA in services and investments during the ASEAN-India Commemorative Summit in December 2012. The FTA in services and investment when implemented is expected to facilitate the temporary movement of business
people, including contractual service suppliers and independent professionals in accounting, architecture, engineering services, medical and dental, nursing and pharmacy, computer services and management consulting. Some countries, especially the Philippines and Indonesia, had voiced concern over the movement of professionals under mode 4 - which will make entry of Indian professionals to the ASEAN nations easier. They feared
it might affect their workforce with the increased presence of Indian workers and were opposing the agreement. India and the bloc comprising Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam have two-way trade worth over $80 billion. With the pact on services and investment, two-way trade is expected to touch $100 billion mark by 2015.
months. The event will be Modi's first public interaction with industry captains after his government went about addressing some of their concerns. The event planned at Vigyan Bhawan, will focus on making a pitch, although officials do not rule out the possibility of expanding the scope over the next few years. While the details of the blitzkrieg are being worked out, sources said, several sectors, especially those which are employmentintensive, will be offered for investment with specific focus on areas such as
electronics, textiles, renewable energy, among others. Even in his Independence Day speech Modi had listed out certain sectors, where his government intends to focus. "We want to give the world a favourable opportunity to 'Come, Make in India' from electrical to electronics, from automobiles to agro value addition, paper or plastic, satellite or submarine. Even during its election campaign, BJP had made its focus on manufacturing clear. Although the National Manufacturing Policy cleared by the UPA government two years ago had sought to boost manufacturing, the policy flipflops meant that investment had actually suffered and the share of the sector,
instead of moving from 16% to 25%, actually declined due to the slump in the industry. Through a series of steps - ranging from allowing more FDI in defence to tax benefits for investment and doing away with the inverted duty structure for several products - the government has sought to get companies to look at setting up plants in India, instead of invest overseas and import into the country. Modi's team in the PMO as well as officers across ministries have been engaging with investors for the past several weeks to identify issues that need to be addressed to boost the economy. Officials said in coming three months, the plan is to launch a series of initiatives to remove hurdles and boost activity across sectors.
Govt to launch massive ‘Make in India’ drive
The government is set to launch a massive 'Make in India' campaign this month to get Indian companies as well as global firms to invest in the manufacturing sector. The latest effort, which was articulated in Modi's Independence Day speech last month, will be unveiled within a fortnight of the government's Pradhan Mantri Jan Dhan Yojana that seeks to open 150 million bank accounts for those, who are outside the financial system, besides providing them insurance covers. Sources in the government said PM will address the country's top industrialists as well as overseas investors, who are already in India and ask them to scale up investments, a move that is not only expected to spur economic activity but also create jobs in the coming
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