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Forex stands for Foreign Exchange. Forex is the name given to the marketplace for trading currency and forex trading is the act of buying and selling currency. Like all commodities, currency is bought and sold for a profit and has become the largest single trading market in the world with a daily turnover of about 3 Trillion US Dollars. Forex is a great way to invest and with the correct education and strategies applied can also be very lucrative. Like all things though, the Forex market can be a place of losses and heartache if one is not careful when navigating the ups and downs of trading currency for profit. Forex trading is based around an acronym called a PIP or otherwise known as Percentage in Point and is measured by the digit four places from the decimal point. The exception is the Japanese Yen which is measured by the digit two places from the decimal point. What you are trying to do is buy and sell at a profit calculating your profits using PIPS. This is the Forex market and understanding how the market moves and trends is the key to continuous success with Forex. How a PIP works: Eg: GBPUSD 1.634(5) the number in brackets moves up and down and so to does the PIP range for the day. If the currency pair goes up 1 pip then it would read 1.6346 if it goes down 1 pip it then reads 1.6344. The Forex Market is made up of Pros, Trading Floors, Banks and Corporations as well as Governments and of course individual traders just like you. The first thing you need to do is learn about Forex and strategies that can make you slow and consistent profits. The reason I say slow is that if you are looking for fast profits you will find a million products on the internet that claim they can give you fast profits but almost always disappoint. If you find a good educative source, coupled with the ability to learn real strategies that work, then you are on the right path. Also when learning about Forex you need to be reading to compliment your studying and a great book for this is called "Trading in the Zone" by Mark Douglas. This is an excellent book on what makes a good trader and looks into the mindset of a pro and what makes the difference between them and the people who fail. You can find this book on the internet and all you need to do is Google "Trading in the Zone" There are many good sources for you to educate yourself before entering live trading and I strongly suggest that you do not enter live trading until you have demo traded for at least 1 month to learn the tactile skill you will need to be a successful trader. So now you have an idea of what Forex is, you need to begin your Forex education path. I have included a link to a site that is FREE and has excellent content for the beginner, the site is called


Baby Pips and you have an official entry to the school of Pipsology. Just clink on the link below to begin. Baby Pips is a great way to get started and will allow you to move at your own pace when learning the fundamentals of Forex trading. At the school of Pipsology, you can learn the basic mantra that should hold you in good fortune which is Make Pips - Keep Pips - Do It Again. The School has been cleverly set up with a type of grading system based on the difficulty of your learning. You start with the basics and move through to money management and the understanding of complex technical indicators.The last thought I want to leave you with is when you are looking at investing into any Forex software, system or even an education course. Never forget to do your due diligence well and ensure that you can demo trade everything before you use real money.

http://www.babypips.com/school/ - Free Education Source for Forex

Article Source: http://EzineArticles.com/?expert=Kawana_Pihama

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