This is for them who are complete newbies to Forex trading and are trying to learn the ropes, it can often be an overwhelming and daunting world, but it doesn’t have to be.
To put it very simply, Forex, otherwise known as foreign exchange (FX), is simply the practice of exchanging one currency for another.
Have you ever been on a trip abroad and had to swap your Dollars (USD) for Euro (EUR)? Or how about exchanging your British Pounds (GBP) for Australian Dollars (AUD)?
If you answered yes, then guess what? You’ve already had your first experience as a Forex trader, although it’s pretty likely that you didn’t make any money in this trade.
The Forex market that you are here to learn how to trade is made up of a huge decentralized trading network that allows you to trade currencies from all over the world.
And when we say huge, we mean enormous.