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Forex Questions

Q&A: How do people know that BOJ invervened in Forex market?

Question by lehai0609: How do people know that BOJ invervened in Forex market?
There were any signs such as significant Yen’s price change, trading volume or anything else? Or BOJ just confessed after the intervention? I’m newbie in Forex so i need a clear explanation.
Thank you so much!

Best answer:

Answer by First Place Turtle
Pull up a daily trading chart of USD/JPY currency pair. You will see a significant rally in USD (and simultaneous decline in JPY) happen on 9/14.

This was the result of BOJ intervening by selling JPY against USD. Estimates of the size of the intervention are ¥1.5 trillion, or a little over $ 17.6 Billion.

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Posted by JasonRocker - August 31, 2012 at 4:35 am

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Is it illegal to open up a small Forex hedge fund?

Question by MercedesGuy300: Is it illegal to open up a small Forex hedge fund?
I am a private Forex trader who wants to expand into a small online hedge fund. Note: This is not code for a pyramid scheme or ponzi scheme. I am talking about trading real money.

What is the legality on this? How much money can I trade before having to register with U.S. Securities?

Best answer:

Answer by Net Advisor
You can have any kind of hedge fund you want.

The key is you need certain registration, the right fund docs, the right corporate structure, and the right legal advice which can cost you $ 10-50,000 in total depending on your structure.

The hardest part is you will have to find qualified investors who are willing to invest with you.

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1 comment - What do you think?
Posted by JasonRocker - August 30, 2012 at 7:54 am

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Q&A: Is on-line forex trading for the average guy or should be left for the professionals?

Question by acussi: Is on-line forex trading for the average guy or should be left for the professionals?
Online forex is all over the internet and I have been very tempted to give it a try but do not want to be wiped out imediately and lose my money. If some one has done it please share your good and not so good experience.

Best answer:

Answer by Glen Ulmer
Forex trading is a lot like legalized gambling. It’s not part of a conservative “average guy” portfolio. But there are free accounts on the internet whee you can play the markets with pretend money (and it tracks your gains, losses, and trading expenses) so you can teach yourself about it.

The thing is, as with all investing where you don’t yet know what you’re doing, when you start doing it for real, you need to treat the money you spend as part of your entertainment expenses — think of it as spent money the minute you make a trade.

And don’t forget — if you make a big gain, and then lose all the gain on the next trade — you’re likely to owe the government tax money even thought you netted zero dollars. So remember to set aside a portion of your “winnings”.

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Posted by JasonRocker - August 28, 2012 at 2:54 pm

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What is the best way to learn fundamental forex trading?

Question by hando59: What is the best way to learn fundamental forex trading?
Is forex trading worthwhile as a second income generator?

Best answer:

Answer by Shem
get a free forex e-book from this site. better still, register to learn more.

What do you think? Answer below!

3 comments - What do you think?
Posted by JasonRocker - August 27, 2012 at 6:36 pm

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How can I find a forex mentor?

Question by Senesino: How can I find a forex mentor?
I hope to trade forex for a living, and I think a forex mentor will greatly reduce my learning curve. How do I go about finding a forex mentor?

I don’t want to attend a confusing webinar, nor do I want a subscription to a series of camtasia videos. I’m looking for personal instruction from an experienced trader who lives on forex.

Best answer:

Answer by Texas JR
I WOULD TRY CHAT ROOMS WHERE THERE ARE TRADEING FOREX

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Posted by JasonRocker - August 26, 2012 at 11:07 pm

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Q&A: Is forex trading a safe way to earn lots of money?

Question by : Is forex trading a safe way to earn lots of money?
Hi guys,
Recently i’ve seen so many sites that speak about forex trading and brokers and so on. I saves a bit money and i was thinking to start trading forex and double it. Please i need some advice. Preferably someone who has past experience with it. Is it a good or bad idea. Please advice

Best answer:

Answer by Raysor
Bad idea.
This is how you make money trading (anything). 1. Knowledge/skill 2. Inside information (illegal) and 3. Luck
You probably need at least two of those to be successul. How many have you got?

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11 comments - What do you think?
Posted by JasonRocker -  at 3:17 am

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Does anyone know about some of the Forex robots and if any are worth using to trade currencies?

Question by Cisco Man: Does anyone know about some of the Forex robots and if any are worth using to trade currencies?
Has anyone had experience using the Forex robots that are available and are there any you would recommend? How successful have they been from a return standpoint?

Best answer:

Answer by Joe
The Federal government warns there are a lot of Forex frauds out there, and these Forex robots appear to be one type of these scams. If these robots really worked, there would be scads of articles about them in the Wall Street Journal and other financial publications talking about them. When I do a web search, I can not find a single reputable news article encouraging the use of Forex robots. The link below is a Federal website warning you about Forex fraud.

There are a lot of people on the Internet claiming they have done very well using Forex robots. These appear to be of two types. One is the outright liars. You might meet a person called “Zboy227″ who says “I made a lot of money using ScamRobot2000, go to their website at ScamRobot .com/Zboy227.” The “/Zboy227″ tells the website that Zboy227 has referred you. If you buy the product, Zboy227 gets a commission. He is only lying to you to get a commission.

There is a lot of luck in Forex. Sometimes you will run into people on the web who have tried a robot for a few days and have had some beginner’s luck with it. They start bragging about how well they have done. Later, they start to lose money, but they rarely get back on the web and talk about how much money they lost. People like to brag about their successes, but rarely talk about their losses. The result is that much of the feedback about these Forex robots is positive.

I may point out that websites that sell Forex robots admit there are a lot of scams out there. Of course they claim the other guy’s robot is a scam, but their robot works. If you do a web search on the words “forex robot” and “scam” you will find a lot of sites saying their competitors are scams.

I will admit I have not personally tested every robot out there, and I can not prove they are all scams. But I would be very hesitant to spend a lot of money on a robot without clear proof it really works.

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7 comments - What do you think?
Posted by JasonRocker - August 25, 2012 at 7:07 am

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Is there anything on the NYSE that follows true commodity prices or specific Forex?

Question by Counter Trigger: Is there anything on the NYSE that follows true commodity prices or specific Forex?
I want to play commodities or Forex but I don’t want to deal with a broker…Shouldn’t there be something like this on the market?
please give me any tickers or names of institutions that offer these.

Best answer:

Answer by Warren534_FuturesTrader
There are plenty of ETFs and ETNs that track the major foreign currencies (AUD, GBP, CAD, EUR, JPY, SWF), the US dollar index and commodities (crude oil, gold, silver, commodity index, agricultural index). There are also many leveraged and inverse ones which move more than 100% of the underlying, or inverse to the underlying. Same applies to Stock indexes and Treasury bond.

All the info you want here:

http://seekingalpha.com/article/30369-a-guide-to-commodity-etfs-and-etns

http://etf.stock-encyclopedia.com/category/commodity-etfs.html

http://etf.stock-encyclopedia.com/category/currency-etfs.html

http://etf.stock-encyclopedia.com/category/stock-etfs.html

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Posted by JasonRocker - August 24, 2012 at 10:57 am

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How long before you get pain on forex?

Question by Mr Strange: How long before you get pain on forex?
If i earn a profit on forex trading today for instace how do i get my money and when.

Can i get it directly into my bank account and how long will it be before i can with draw it.
Sorry i mean paid!

Best answer:

Answer by Bira
yes mr muslim, it depends on the broker. It can be right way, or at the end of the financial month.
Have a look to your broker papers online.

http://bestforex-tradingsystems.blogspot.com/

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Posted by JasonRocker - August 23, 2012 at 2:39 pm

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why is it in the interest of developing countries to have high forex reserves ?

Question by abhi s: why is it in the interest of developing countries to have high forex reserves ?
(high forex reserves)especially in the event of the financial crisis?

also, how does it help a particular country if that country keeps its currency weak against the global currency like the dollar? what are the ways in which a country can artificially make its currency weak?

Best answer:

Answer by ripper
http://www.ustreas.gov/offices/international-affairs/occasional-paper-series/docs/reserves.pdf

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Posted by JasonRocker - August 22, 2012 at 6:34 pm

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