Introduction the FOREX online

After we give article to you about seven steps learning of FOREX online, that's the basic point to you. Now we give you article about the definition or meaning of FOREX, and everthing related point of FOREX online.

What's FOREX??
The Foreign Exchange market, also referred to as the "FOREX" or "Forex" or "Retail forex" or “FX” or "Spot FX" or just "Spot" is the largest financial market in the world, with a volume of about $2 trillion a day.wauu...bravo. If you compare that to the $25 billion a day volume that the New York Stock Exchange trades, you can easily see how enormous the Foreign Exchange really is. It actually equates to more than three times the total amount of the stocks and futures markets combined! Forex rocks!

What's traded on FOREX?

The simple answer is money. Forex trading is the simultaneous buying of one currency and the selling of another. Currencies are traded through a broker or dealer, and are traded in pairs; for example the Euro dollar and the US dollar (EUR/USD) or the British pound and the Japanese Yen (GBP/JPY). Because you're not buying anything physical, this kind of trading can be confusing. Think of buying a currency as buying a share in a particular country. When you buy, say, Japanese Yen, you are in effect buying a share in the Japanese economy, as the price of the currency is a direct reflection of what the market thinks about the current and future health of the Japanese economy.

Which curency are traded?
The most popular currencies along with their symbols are shown below:

Symbol	Country	Currency	Nickname
USD	United States	Dollar	Buck
EUR	Euro members	Euro	Fiber
JPY	Japan	Yen	Yen
GBP	Great Britain	Pound	Cable
CHF	Switzerland	Franc	Swissy
CAD	Canada	Dollar	Loonie
AUD	Australia	Dollar	Aussie
NZD	New Zealand	Dollar	Kiwi

Forex currency symbols are always three letters, where the first two letters identify the name of the country and the third letter identifies the name of that country’s currency.

When can currencies be traded?
The spot FX market is unique within the world markets. It’s like a Super Wal-Mart where the market is open 24-hours a day. At any time, somewhere around the world a financial center is open for business, and banks and other institutions exchange currencies every hour of the day and night with generally only minor gaps on the weekend.
The foreign exchange markets follow the sun around the world, so you can trade late at night (if you’re a vampire) or in the morning (if you’re an early bird). Keep in mind though, the early bird doesn’t necessarily get the worm in this market - you might get the worm but a bigger, nastier bird of prey can sneak up and eat you too…, so flexible...:)

Time Zone	New York	GMT
Tokyo Open	7:00 pm	0:00
Tokyo Close	4:00 am	9:00
London Open	3:00 am	8:00
London Close	12:00 pm	17:00
New York Open	8:00 am	13:00
New York Close	5:00 pm	22:00

What does it cost to trade FOREX?
An online currency trading (a “micro account”) may be opened for with a couple hundred bucks. Do not laugh – micro accounts and its bigger cousin, the mini account, are both good ways to get your feet wet without drowning. For a micro account, we'd recommend at least $1,000 to start. For a mini account, we’d recommend at least $10,000 to start.
In the FX market, you buy or sell currencies. Placing a trade in the foreign exchange market is simple: the mechanics of a trade are very similar to those found in other markets (like the stock market), so if you have any experience in trading, you should be able to pick it up pretty quickly.
The object of Forex trading is to exchange one currency for another in the expectation that the price will change, so that the currency you bought will increase in value compared to the one you sold.
source:babypips.com

First Step, Learn basic about Forex...(you must have to know!!)

Learn FOREX in seven steps...check this out!!

1. Maximize Your Tools

Be sure there's a multiple tools to help you learn forex trading to become a better currency trader including free market news, and real time charts. The most valuable tool in your forex trading education, however, is the the platform currency trading Demo account, which allows you to test out forex trading strategies and learn forex trading from your mistakes without risking real money.

2. Risk Management

Every successful trader should know how much risk he is willing to take, and what profits should result from the trade. The use of stops and trailing stops is most often used to minimize losses. This is the basis of every realistic forex trading strategy. It can also be the most important factor when attempting to learn forex trading.

3. Two Ways to Trade

There are two types of traders, technical and fundamental. Both have a radically different approach to making trading decisions. Click here to find out which camp you belong to. Knowing both can help complete your forex trading education.

4. The Basics of Technical Analysis

All technical analysis starts with a few basic building blocks. With these as a foundation, you can start to make sound currency trading decisions.

5. Applying Technical Analysis

Every platform provides tools for basic technical analysis. Technical analysis shows you price history, support, resistance, trends and more.

6. Fundamentals Everyone Should Know

All Traders should understand why economic releases, interest rates, and international trade are important to movements in the currency market.

7. Psychology of Trading

The biggest enemy to most traders is not the market, but themselves. Learn four basic forex trading principals that will help you to avoid the four biggest mistakes that traders make.

source:T & K Forex Inc