So what exactly is the definition of foreign exchange? While I'm not going to go all Merriam Webster on you, I will give you an idea of what the market is.
In the Forex market, you trade one kind of currency for another one. You hope the one that you buy increases in value and the one that you sell goes down in value.
Trading one kind of money for another is essentially the essence of foreign currency trading. This market is truly the biggest financial market in the world today with a daily volume now up over $4 trillion. If you're a beginner, you may be interested in learning a few more Forex facts here.
If you find yourself wondering "What is Forex trading?" you should at least be able to get a good answer to your question here on the site.
Here at Forex Trading Rookie we don't claim to have all the answers. Throughout the history of foreign exchange there has never been a site that had all the answers. The point of this site is to help those who wish to get started and learn what a Forex trade really is and how to handle some of the foreign exchange risks that come with the market.
We'll help you every step of the way and recommend some trading strategies as well. Think of this site as your own personal Forex trading guide that will help you figure out how to get started and how to make money. The reality of online Forex trading is pretty bleak for those who are not willing to put in the effort to learn and seek out help when they need it.
We promise to keep it light, keep it slightly humorous and to be honest throughout the process.
If you need help with anything Forex investing related, this is the place you need to be.
We have reviews about Forex software, trading systems and even trading schools. We also explain what a Forex dealer is and how to choose one to work with.
It doesn't matter if you know the definition of foreign exchange or not. You can get the information you need about Forex currency trading over time.
Before trying a strategy, check to see if we have any information on it first. If you want to learn the basics of the market, check out the "Forex Market" tab over on the left.
Basically, we're going to do our best to get you from where you are now to where you want to be in the Forex market (relaxing on a beach somewhere with loads of cash in your account) or something like that.
If you want to trade Forex online immediately, you can check out the quick start guide. This gives you the basic steps you need to get through to start trading right away. We do not necessarily endorse going from complete newbie to trading real money right away, but we know many of you will do it anyway. So there's the basic process.
During your process of getting started in the market, you might want to get involved in a foreign exchange forum. They make it easy for you to develop relationships and figure out how to trade the market.
We also recommend going through a thorough Forex market simulation before you ever put any of your real money at risk.
When you lose some money and want to learn how to actually trade and win money, check out the rest of the site to learn how. It doesn't matter if you can quote the definition of foreign exchange verbatim if you don't know how to trade.
Is trading Forex easy? Not really, but if you're willing to spend some time and learn the basics...you can be profitable. You've already learned the definition of foreign exchange today, so you're on the right track!
If you've reviewed the definition of foreign exchange and decided that Forex is definitely something you want to try, you might be like many other traders and realize that you can't get started until you get some money. In this case, you might need to get your financial affairs in order and start saving some money so that you can get started. If this sounds like you, I have a good resource for you to check out.
Budgeting Steps provides ideas and common-sense approaches to personal budgeting, family, and household budgeting, including free tools such as budgeting worksheets, calculators, and printable sheets, tips on how to create a budget, money saving ideas, and earning income at home.