The goal of this tutorial titled “Forex Training for Beginners” is to basically teach you how forex trading works. We will discuss the basics of foreign exchange rates, market’s history and key concepts that will prepare you to actively partake in the forex market.
This tutorial is free. You are free to send your comments or questions if you need clarification when necessary. Just reply with your comments on the comments section form.
The Foreign Exchange market or Forex for short remains one of the leading, fast-paced markets in the world today. Simply put, Forex is the act of buying and selling currencies online. In the past, Forex trading was done by big corporations, financial institutions with huge capital such as central banks and a few commercial banks who had strong capital base, hedge funds and a few wealthy individuals.
However, the forex market has been opened for individuals to come on board and trade currencies online with ease through online brokerage accounts. Thanks to the Internet. Investors can now buy and sell currencies without much ado, except with the little effort of clicking a mouse if at all.
In forex, vital decisions are made on daily currency fluctuations. The changes may be as low as 1% in the value of the currency pairs being traded. For example, the currency pay may be a Yen to the Dollar, Naira to the Dollar, and so on. Hence, many people consider Forex the least volatile market to trade. Hence, currency speculators rely on significant leverage to increase the value of potential movements of up to 250:1.