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Your Questions About Forex Trading The following Question and Answer is brought to you by our Forex Consultant with interaction from members of the Yahoo Answers community.

Lisa asks…

FOREX trading? I am just getting into Forex trading in Japan. Other than “DON’T” Any good ideas? These answers are excellent. Esp the tax answer.

admin answers: Your best way to proceed into the Forex market is to be somewhat cautious and get a little knowledge on the mechanics, the risks and the idiosyncracies of the marketplace. The biggest problem withthe Forex market is that the advent of electronic trading and the

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potential for attractive profits has made in way to easy for uneducated people to rush into the Forex market and lose their hard earned money before they even knew what happened to them. The Forex market does involve risk, and one should never invest money that they cannot afford to lose. Fortunately we have the abvility to trade in practice accounts without risking any money until we have properly honed our trading skills. The Forex currencies move quite quickly and frequently. There are successful traders that have the time, the discipline and the knowledge to be constantly monitoring their positions and make frequent trades throughout the day to capture profits and/or to prevent losses. There are other Forex traders that inplement strategies that will lessen the risks associated with constant market movements with a hedged position. These investors take a longer term view on their positions and are comfortable receiving an interest payment everyday, making small additional purchases and sales as the market does it’s dance and generating a comfortable monthly return on their positions. I recommend to all my Forex colleagues to begin with a conservative approach and then if they want to move into more high frequency trading thay can do that later once they gain a bit more experience. What I find is that once I teach them a couple of conservative strategies they are quite comfortable continuing with this approach. Good luck to you and I would be happy to send you some additional information. Paul pupp50@yahoo.com

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