Is Forex Trading In India Breaking The Law

The nature of forex trading is such that it can be perceived as gambling and made illegal in some countries. We are fortunate that this is not the case in India and many people are quietly making 1000’s on a daily basis.

Although forex trading itself is not illegal in India it can be difficult to profit from the limited currency pairs that you are allowed to trade. The Rupee currency of India is highly protected by the Royal Bank of India and exchanging it for other currencies is highly restricted. They have been more lenient with these laws recently as to aid the economy by introducing the financial markets, but the rupee is not a volatile currency so it can be hard to profit.

The forex market does not change wherever you are in the world, it still has trillions of dollars traded on it every day and it is still possible to trade 24 hours a day 5 days a week. There is no reason why Indian residence cannot take a piece of this action and in fact many of them are. Many Indians are joining the global financial market every day.

The spread betting companies in India might well be limited to the trading pairs that they can offer but it does not mean that people in India cannot go elsewhere to trade forex. Using a managed forex account is becoming increasingly popular as a method for residence of India to benefit from the complete forex market.

There is nothing illegal about using a forex managed account and it is the simple task of opening an account and giving it to a professional to trade on for you. The benefits include staying within the law and being able to have a much more profitable account in your portfolio.

You do not need to get involved in the task of trading yourself you can leave that task to the professionals. Simply sign the necessary paper work to give the account manager the power to use your account and watch the profits roll in.

It is hard not to see the benefits of using a forex managed account; for one the combined experience of the traders means you are getting profitable trades and not just lucky wins. It is important to remember that although the forex market can be very lucrative it can have a steep learning curve for the inexperienced trader.

There is no need to worry about money in your trading account as it can only be withdrawn to the card from which it was first deposited. All you need to do is sit back and allow the account manager to do his job and of course withdraw the money now and again.

India will definitely have access to the full forex market in the future as it is impossible for them to stay out of this huge earning potential. Until that day comes about using a managed account is the best way to see success in the market place.

Take advantage of the professionalism that is on offer with a managed account and see your investments grow for very little effort.

There Is A Big Difference Between What We Have The Right To Do And What Is Right.

As we all know, DWI operates in a wide range of industries, ranging from oil and energy to leisure and recreation, manufacturing, to telecommunications. In each of the industries, there are many activities of the organization that are perfectly legal, but might not be acceptable from ethical perspective. We will identify some of these activities in various industries that are ethically wrong, even though are legally correct.
Let us start an example from the Casino industry. Casino business is legal in many countries around the world and is a great source of income for companies like DWI. However, from ethical perspective, Casino industry might not be the best businesses to be in, primarily due to the fact that it ruins many households and provide opportunities for people to lose their hard earned money. Further, operating a casino business can lead to other crimes in the vicinity, such as prostitution, drug trafficking, etc. which may be beyond the control of the organization operating the casino, such as DWI in this case. Although there are arguments in favor of running a casino such as creation of more jobs, development of ancillary businesses such as restaurants, promotion of tourism in the region, etc, it does lead to many ethical issues, such as it can lead to compulsive gambling, attract crime, drags and prostitution, create traffic congestion problems and erode the work ethic. As mentioned earlier, some of these “social costs” can be quantified such as social service costs associated with addicted gamblers and lost job productivity.
Reference: http://www.allbusiness.com/specialty-businesses/653985-1.html
DWI also faces potential ethical issues in hotel industry. For instance, the high calorie or high fat food served in hotels might be perfectly legal, but ethically, it might not be correct. Often, to save costs or to enhance the taste of foods, hotel operators like DWI compromise on healthy side of the meals and provide unhealthy food to the guests at the hotel. Companies like DWI should not compromise on the health side of their food preparations and should spend extra money to ensure that the ingredients, preparation of various cuisines in the hotel are of the highest quality and healthy for the customer.
As understand, DWI is into oil exploration in various countries around the world. In many nations around the world, the labor laws and environmental standards are not as stringent and strictly implemented as in developed nations like US. A major ethical concern for companies like DWI is adherence to stringent ethical principles in terms of treatment of labor and environment. Although it might be perfectly legal in many countries to observe relaxed practices in terms of environmental production and provide less than optimal working conditions for employees, it might not be correct from ethical perspective. Companies like DWI should try to standardize their labor practices as well as environmental practices, irrespective of the local laws and regulations in multiple countries around the world. For example, If DWI is operating in India where labor laws and environmental laws and not strictly implemented, DWI should not try to take undue advantage of such relaxed laws and should keep the quality of its operations in terms of protecting the environment and providing healthy working atmosphere to employees totally intact and on similar lines with US operations.
Operating a cruise line is also full of ethical issues that need to be kept in mind. Although it is not mandatory from legal perspective, but it is certainly important from environmental perspective that a cruise line operator like DWI should take extra care or make extra efforts to protect sea life and carefully dispose of waste. Cruise operators should realize that operating a cruise line can be detrimental to the ecological balance of tourist attractions and thus should ensure that they operate in the most ethical manner. Cruise companies must meet environmental standards that exceed regulatory requirements. For instance, they’re adding advanced systems to treat wastewater to the point that “it’s practically drinking water” and then discharge it far offshore.
Reference: http://archive.gulfnews.com/articles/07/10/08/10158728.html
To conclude, there are host of activities that appear perfectly legal for DWI in all the industries where it operates, however, the activities do not adhere to the highest ethical standards. DWI should make an extra effort to ensure that it ethical standards surpass the regulatory standards and should set a platform for making DWI a truly ethical organization from all perspectives.

Forex Trading In India

Forex trading is a global market and although it may be classed as gambling in some countries and illegal, forex trading in India is very legal and becoming a popular legitimate method of making money online.

The Rupee is a highly protected currency and because of this exchanging it has many restrictions. These restrictions have recently been relaxed to accommodate the financial markets to help benefit the economy. Although forex trading is legal it can be restricted to certain currency pairs making profiting a little bit long winded with the slow moving Rupee.

Forex trading in India is no different from trading anywhere else in the world; the market is open 24 hours a day for 5 days of the week. Anyone in India can be a part of the trillions of Dollars that are traded on the forex market every day, giving any Indian resident the opportunity to be a part of this huge global market.

The restrictions may limit the currency pairs that you can trade through an Indian spread betting company but it does not limit anyone that wishes to fund a managed account from India. A managed account is the simple process of opening a spread betting account for someone else to trade on.

This process is perfectly legal and involves nothing more than using a forex account manager to speculate on the forex market on your behalf. This will give access to all the currency pairs hence a more profitable trading account.
You can have as little interaction in the account as you like, simply go through the set up process with the account manager giving them limited power of attorney and they will use which ever method appropriate to trade on your account.

The benefits of using a forex managed account are fairly obvious; you do not need experience in the forex markets yourself. As forex trading is quite new to Indian residence there is a certain lack of experience in the local vicinity, a managed account can benefit from years of combined professional experience in the market place.

You do not have to worry about the market or even learn how to trade it this is all taken care of, Your simply sit back and let the professionals go to work with your money. There are no security risks with your money as you set up the account money can only be withdrawn to the bank from which it was deposited.

Although forex trading in India is slowly coming of age and it will be a welcoming day when such a huge country can finely get its teeth into the market on an individual basis. Until that day using managed accounts to take a slice of the huge amount of money being made on this financial market is the best way to go.

Take complete advantage of the experience and expertise that is on offer and see you forex trading investments grow in the hands of a professional proven forex trader.

Stages to Improve My Chess Game

Improve My Chess Game … how do I do that?

I used to play lots of chess when I was in high school. I also used to represent my school during Interschool tournaments… and lose. I have no idea why I was picked because apart from being good at the game and beating opponents at my own level, I had nothing else. I could never beat those geeks or big guns in the game.

As I played more and more and developed the feel, my skill level would drop further back, losing via careless mistakes and being easily overwhelmed by opponents even though I clearly had more experience playing, then when I started. And then when I was out of high school, I abandoned the game and when I got back to it some time in college, I was good at it again, and after some time playing, my skill level would drop again… What was I doing wrong…

Then recently, about a few months ago, I discovered that some simple concepts that I never really took into consideration seriously really could make a difference in my gameplay. Sure enough, I improved tremendously. I am currently enjoying a 15+ winning streak at chess and I am now able to beat regular guys at the free Internet chess server – something I could never do before my discovery.

I would not brag and say that I am already an expert or master, cause I still lack training and experience, and I would probably still rank very low compared to those brain-frying chessmasters out there from Russia or India, but I have really experience a vast improvement from last time. If only I had adhered to those basic chess concepts during high school, I would have won the tournament or at least finished in the top quarter…

My Basic Chess Improvement Concepts

Before I start, I would like to state that I did not create these concepts but I am using the subtitle “My Basic Chess Improvement Concepts” simply because I think there are really important, and I am suggesting to have these concepts in high priority in your head at all times during the game.

Again, as I said before, I am not a chessmaster or expert and these tips are to help newbies or rookies that are looking to improve. Now, if you are already a chessmaster or expert, there is no point reading this, as you might either already know this or have other even better strategies to beat this.

Alright. I will try to keep the explanations simple. There will be points to adhere to during all 3 stages of gameplay:

Stage 1 – Opening

An important phase of the game to play correctly, that let me improve my chess game. The concept is simple: Get your pieces out. You probably have heard this many times, and followed this rule, but still lose? Having all your bishops and knights out just to get them eaten up? Well, that’s just half of the concept.

The full concept: Get your pieces out with minimal blockage.

If you don’t get your pieces out or if they are out but cannot participate in gameplay, they are as useless as a flamethrower underwater. Always make sure your pieces are out, and they are attacking / pointing to the center (not in the center).

Attack and defense – If you are playing white, do not play defense, get your forces out until you find an opening, then attack. If you are playing black, defend until you either find an opening or your opponent is a step behind you in development, then you attack.

Pawn moves – Do not move many pawns up. There is a trick that is to use your pawns to block your opponent’s pieces. That trick maybe powerful at first glance, but once the pawn formation is broken, and you have not developed enough of your other pieces then you will be in deep trouble when your castled opponent is out and attacking. So, just move enough pawns to release all of your attack forces and that’s it. Your pawns would then be movable later on during middle or end game.

Most important – Beat your opponent in development. Get your forces out and movable (not blocked by pawns) and fast. If your opponent is wasting moves like moving his rook’s pawn in case your bishop goes up or something like that, instead of developing his bishop/knight or castling, you are one more move ahead. Wasting moves is the best way to lose.

Stage 2 – Middle Game

If you have done well in the opening, you will not have such a hard time in the middle game. So, in the middle game, all you need to do would be to find an advantage. This can be in the form of:

Material – if you are winning by 1 pawn, it’s quite enough. If you can exchange all other pieces on the board, and reduce the game to King and Pawn vs King, it’s an 80% chance you will win and 20% chance you will draw! So if you are winning by a rook or knight or better still – queen – then it’s a good sign to finish it. Exchange everything and reduce it to the smallest number possible and you will win, aka an imbalanced algebraic equation.

Position – if you have many mobile (unblocked) pieces targeting at many strategic squares, and your opponent has blocked pieces, like bishops blocked by pawns or undeveloped rooks in the corner, you can plan a strategy to either capture more pieces or aim for a checkmate.

Domination of the board – If there is a straight open file with no pawns, place your rook there to conquer it. This is also an advantage. With domination, you can aim to win material and get a number 1 advantage (mentioned above). There are killer tactics to do that, but I will not cover on that because that would be a very wide topic.

Remember, once you get an advantage, finish the game via checkmate if easily possible, or take the game to the next stage ASAP – End Game.

Stage 3 – End Game

This is no easy task. There are always 2 scenarios here:
1. You are winning
2. You are losing

It isn’t easy to find out which one. Number 1 or number 2? Ideally, if you have more pieces you will have an advantage and you would be winning. But sometimes, that is not the case. You may have a rook and your opponent may have just one bishop and a pawn, but that pawn is nearly reaching the finish line and grabbing the queen’s bathrobe at your kingdom, and your rook is trapped somewhere, and you have no way to stop the pawn… you understand what I mean?

So, during endgame, if you are winning by pieces, just try to reduce everything to your king and your forces vs enemy king and you should be winning. But be careful. Sometimes your forces aren’t enough to win, for example, a lone king and a knight can never checkmate another king, so it would be a draw.

If you are winning by position, try to checkmate or capture opponent pieces using killer tactics like forks, X-rays and pins, to turn the tables. You will have to study on this to get good at it but actually, you can implement these tactics once you find out about them.

If you are losing by position, try to force a draw, like multiple checks ie. checking your opponent, preventing him/her to launch any attack. If your opponent cannot stop your checks, the game is drawn. You can also try to capitalize on mistakes, then use killer tactics to turn the tables but that would be harder. Another way is to get repeated moves. If a move is repeated 3 times consecutively, the game is drawn.

If you are losing by material, and you are reduced to a king, try to get a stalemate. But this one is really hard and the odds are stacked against you.

So the opening and middle games are important to ensure you get at least some fighting chance in the end game, if you are able to get there.

Conclusion

Wow, I never thought I would be creating a hub this long, but it’s here anyways. Final important tips. Be alert at all times. Careless mistakes can hurt you bad! And be flexible. If you are pushing a strategy that will not work, it will cost you dearly. The best way to play chess is to stick to the concepts and the opportunities for strategies will come to you automatically.

Have fun, and I hope you can improve. I am a casual chess rookie who found out how to become a better rookie and to win more matches, and I wish you the best of luck!

History Of Chess

I come from a family of golfers. Golf is the favorite recreation of everyone in my family, including my grandparents, my mom and dad, myself and my four siblings. Every year, we have a family reunion of sorts featuring all my relatives from my father’s side. At those gathering, the entire clan always has a sportsfest wherein each of the different families take on one another in four key sports. We always win the golf competition. The others are volleyball, ping pong and chess.

My dad told me to study chess for next year’s family sportsfest. I complained a lot at the beginning but have grown quite fond of the game. I often like to recite the history of the game to my friends and, actually, to anyone willing to listen.

Like the game of golf, chess also has a number of fathers as many countries claim to have originated the game. This has some basis especially if you note that the Arabic, Persian, Greek, Portuguese and Spanish words for chess are all derived from the Sanskrit game Chaturanga. You might also want to consider the fact that among all countries, only India had three animals in its cavalry — the horse, camel and elephant. In chess, these are believed to be represented by the knight, bishop and rook.

In addition, in the past only India had all three animals, horse, camel and elephant, in its cavalry, which represent knight, bishop and rook in chess. Also, there are a lot of similarities between the way chess is played today and the way Chaturanga was played in India during the 6th century. Historians believe the Persians later created a more popular version of the game and called it Shatranj. But there is yet another theory that claims that chess started from a game called Xiangqi that traces its roots to China during the 2nd century. there are a number of well-known scholars and historians who support the latter theory.

Eventually, the popularity of chess caught on in the west particularly in Europe as well as to the east particularly in Japan. Chess also started to spread throughout the world of Islam following the Muslim’s conquest of Persia. After some time, chess found its way to Russia (via Mongolia) where people started playing it in the 7th century. In the 10th century, the Moors introduced chess into the Iberian Peninsula as mentioned in a popular 13th century manuscript that also covered backgammon and dice, which was referred to as the Libro de los juegos. Historians say that the entry of chess into Europe is characterized by the enhancement of the queen’s powers.