What is FOREX?

The Foreign Exchange market, also known as Forex or Spot FX is the biggest financial market in the world, with a volume of over $4 trillion a day. It actually equates to more than three times the total amount of the stocks and futures markets combined.

What we traded on the Foreign Exchange market?

Money- this is the answer. Forex trading is simply about buying of one currency and the selling of another exactly in the same time. We trade currencies through a broker or dealer, and those currencies are traded in pairs such as the euro and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY).

Because we're not buying anything physical, this kind of trading can be confusing. We can think of buying a currency as buying a share in a particular country. When we buy for example Japanese Yen, we are in effect buying a share in the Japanese economy, as the price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.

Unlike other financial markets like the New York Stock Exchange, the Forex market has neither a physical location nor a central exchange. The Forex market is considered an Over the Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.

The most popular currencies along with their symbols and forex jargon names:USD

USD United States- Dollar (Buck)

EUR Euro members- Euro (Fiber)

JPY Japan- Yen (Yen)

GBP Great Britain- Pound (Cable)

CHF Switzerland- Franc (Swissy)

CAD Canada- Dollar (Loonie)

AUD Australia- Dollar (Aussie)

NZD New Zealand- Dollar (Kiwi)

Forex currency symbols are three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country's currency.

When we can trade currencies?

The FOREX market is unique in the financial markets- 24/5 Whole weekend is for family :) All the time, somewhere around the world a economic centers are open for business, banks and other institutions exchange currencies every minute of the day and night with life break on the weekend.

The foreign exchange markets are open around the world, so we can trade at night or in the day time.

In my opinion forex market is one of most dangerous financial markets.

On the picture below there is no any kind of Money Managment- this is wild demo trading...