Forex the market for buying and selling currency is the largest financial market in the world. Every day more than $1.5 trillion is traded globally and, unlike the stock market, which has fixed hours, it is a market that never sleeps. Somewhere in the world, at any time of day or night, forex is open for business, six days a week. The market starts each day in Sydney and moves around the globe as other forex financial centers open: first to Tokyo, then London and New York.
What makes trading forex an incredible way to make money online, is that price movements are highly predictable, creating trends that can be anticipated when it comes to decide when to buy and sell. Contrasting with stocks and shares, forex trading through brokers is commission free. It is also possible and definitely recommended to open a demo or practice account with a broker first, where you can learn to trade and gain experience before you part with a cent of your own money.
In simple terms, currencies are traded in pairs, for example the Poundsterling and the US dollar (GBP/USD). The first currency in this case the Sterling is known as the base currency, the second currency the US dollar is the counter-currency. All trades result in the simultaneous buying of one currency and the selling of the other. Thus, in this example, if you place an order to buy the GBP/USD, you are buying the Sterling and selling the US dollar. If you were to sell the pair, you would be selling the Sterling and buying the US dollar.
If you want a financial freedom, with huge advantages over other more conventional money markets, why not experience the excitement of pips, rollovers, leverage, lots, long and short positions, limit orders and maybe some margin call LOL then why don’t you just start to learn to trade forex now. Good luck! (Article from: Daily20pips.com)
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