Trading 101: What You Need to Know
The foreign exchange market (shortened to FX or Forex) is similar to a big marketplace where nothing but currency is being traded. It’s believed that it began with the Babylonians, where goods were traded with other forms of goods, gold and silver were the closest two forms to our current currencies. Forex is simply transferring a currency to another, and this process happens on an immense international level, with a turnover of 5 trillion USD of daily trade between governments, corporations, banks, and many others. The forex market never sleeps with transactions happening daily non-stop and without being restricted to business days or business hours. The concept of trading anything for another is simple, but the intricate complexities involved in … Read more