Congratulations on taking the first step to becoming a ForexSuccessfulTrader™ – You are know on your path to FxMastery™.

Day 1: Beginner Forex Scalping Basics:

Welcome to FxST™ Five Day eCourse – Start Forex Now!  The topics covered in today’s course are the following:

  • History of Forex – What is Forex
  • The Major Currency Pairs – Where is the money Flowing?
  • Forex Lingo – General Terms
  • Functions of the Forex Market
  • The Retail Trader – Start your own Forex Business

Learning Goal: Understand Basic Forex Terms,  Language, & Functions

Level: Beginner

History of Forex

What exactly is FOREX trading? Basically, FOREX trading is the buying and selling of international currencies. Traditionally, participation in the FOREX market was confined to major banking and trading institutions. In recent years, technological developments have opened up this once exclusive arena to smaller companies and even individuals by allowing them to trade currencies online. The world’s currency rates are not fixed. They follow a floating exchange rate and are always traded in pair’s Euro/Dollar, Dollar/Yen, etc. Most international transactions are exchanges of the world’s major currencies, aka “The Majors“.

When it comes to Forex trading, there are a number of major currency pairs. :

  • EUR/USD – The Euro and the US dollar.
  • USD/JPY – US dollar and the Japanese Yen.
  • USD/CHF - The US dollar and the Swiss Franc.
  • USD/CAD – US dollar and the Canadian dollar.
  • AUD/USD – Australian dollar and the US dollar.
  • GBP/USD – Great British pound and the US dollar.

These currency pairs are considered “The Majors” in comparison to the other currency pairs because of their massive trading volume. They may also be listed as follows (without the slash): EURUSD, USDJPY, GBPUSD, and USDCHF. It is also important to remember that there are no dividends paid on currencies.

If you are a trader in the FOREX market, you look to see whether one currency’s value will appreciate against another currency. When this is the case, you exchange the latter for the first.Ideally, you will be able to exchange the first currency for the other at a later time and collect a profit from the trade. FOREX transactions are typically conducted by professionals at major banks and brokerage firms.

FOREX trading has long been an important feature of the international market. At all hours of the day, currencies are being traded by brokers and individuals around the world. In fact, the FOREX market operates virtually twenty-four hours a day and five days a week with traders at international banking institutions working a number of separate shifts.The FOREX market is different from the normal stock market in the fact that price shifts are much smoother and do not result in significant gaps. Each day the FOREX market turns over 3 trillion US dollars, allowing traders to enter and exit certain positions with ease.As you can see, the FOREX market is a dynamic and continuous system that basically never sleeps. To be sure, even on September 11 in 2001 it was still possible to obtain currency quotes. Also known as the foreign exchange market, or FX, it is the oldest and most active financial market in the world. In comparison, the currency futures market is a mere one percent the size of the FOREX market.

Trades are brokered between major banking groups and circulate around the globe, from Australia, to Asia, to Europe, USA and back to the Australia. For a longtime, financial prerequisites and hefty minimum transaction amounts put the FOREX market out of reach of small traders. Consequently, at one time major banks and financial institutions were the only parties that could benefit from the FOREX market’s liquidity and smoothly flowing exchange rates. Today is a different story. FOREX market dealers can divide large units within the market, allowing smaller corporations and even individuals the ability to trade these smaller units. Even though it is the oldest financial market in the world, the FOREX market has evolved a great deal in a short amount of time.

High-speed internet connections and sophisticated online Forex trading platforms has definitely made it easier for individual traders to get involved in Forex trading and start their own 100k/year or more businesses. This FxST Start Forex Now guide is your first step towards FxMastery™ and creating Consistent Bullet Proof Profits in this extremely lucrative FOREX market.

Okay so that’s the basics of Forex trading for today, We will be back tomorrow with more information on Forex. Get a head start by going to our website and check out our full FxST Start Forex Now video course – ClICK HERE

Chief-Master Trader, Armando Martinez

To Your Success,

Armando Martinez
FxST Chief Master Trader

P.S. Make sure you don’t get too excited and start
trying to make trades today, an inexperienced trader
is a dangerous thing!

Coming up next … DAY 2

Benefits of Forex Trading – Why you should be Trading

  • Market Hours – Global Market
  • Liquidity – Getting in and out of the Market
  • Leverage – How much you have to Invest
  • Transaction Costs – What type of Fees are in Forex
  • Participants – Who Controls the Forex Market