Currency trading can be both highly lucrative, but highly risky.

Of course with any type of investment, (and it must be seen this way or it becomes extremely expensive gambling) there are most certainly ways to reduce the risk.

Forgetting the obvious about getting to know the money market basics (usually a given before one starts Forex trading), there is the all important aspect of seeing it in action, before you actually dish out hard earned.

In my experience, the best (cheapest) way to do this, and actually experience the market first hand is to download a Forex Trading Game platform.

These platforms allow you create a virtual account and enter the market using the same platform and rules that real investors are also using.

The best platform I have come across is the FX trading Game from Oanda.

The game acts in real time, and gives you the same software that people “playing” with real money are using.

The game allows you to set stop-measures to automatically close orders on a given price, and you can set it to purchase units when they reach a certain price, all automatically.

Sign-up for a free account where you can experiance the market as it actually works, and in real time here.

It’s good fun, but my advice if you’re intending to ACTUALLY trade in the Forex markets is this:

Don’t treat it like a game, treat it like real money, and make trading decisions as if it were real money. - You’ll soon see if Forex trading is your cup of tea without blowing a wad of cash!

Read other VaughanWylie.com Forex Articles Here.

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OK So another prophetic (but predicatable, really) FOREX Preditiction….

At the time of writing this [3.47PM 29/4/07]I’m purchasing (placing) a sell order of NZD against USD.

Selling NZD at 74.143 (Un-realistically high). When the markets open on Monday, we shall see how much money I’ve made!

ARTICLE UPDATE: Click here to read article on how my FOREX prediction paid off!