Forex is the abbreviation of foreign exchange. In forex trading, people trade currencies. This financial activity is not only about gaining profit from the trade. Currencies are exchanged to conduct to foreign trade and business. Each country has their own currency. Trading is the possible way to let people have the locally accepted currencies. It is the simple way to see who the foreign exchange trading works.
Forex trading has a large market. It involves people around the world. Instead of done directly in person, the transaction is done electronically via computer networks among of traders around the globe. The market opens 24 hours a day then five and a half days a week across almost every time zone. What makes the trading unique is the price quotes changing constantly as the market can be highly active any time.
A person can trade currencies individually. It may be practical. However, it is often to use a broker or market trader assistance. Though it is possible to trade all alone, a beginner has to educate himself first. It is necessary to practice with a forex trading demo and start with small number of real money. Importantly, self honesty can help to optimize the success rate.
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