Introduction To Foreign Currency Trading
Foreign currency trading is a huge endeavor staged by the world's largest decentralized financial market called the foreign exchange market or Forex market. In this highly volatile market, trading is done in currency pairs and involves the simultaneous buying and selling of the currencies involved in the pair.The major currencies that are traded in the foreign currency trading market are the US dollar (USD), Euro (EUR), Japanese yen (JPY), British pound sterling (GBP) and Swiss franc (CHF). The transactions are done in pairs such as EUR/USD. The first one in the pair is called the base currency and the second one is the quote/counter currency. For instance, EUR/USD 1.3031 means that the value of one Euro is equal to 1.3031 US Dollars....