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"After going through a couple of on-line trading courses I realised there is so much more to trading than flashy, pretty looking indicators. I have been fortunate to learn through Andy for the past 3 months and now strongly believe one on one weekly session are by far the best possible way to learn how to become a consistently successful trader. Andy is the real deal with an amazing ability to see your strengths and weaknesses and then give you advice and guidance's to strengthen your weaker areas. Currently Andy is helping me achieve a stronger winner’s mindset. I fully recommend to anyone who wants to take advantage of the massive potential available in the markets to seek Andy's guidance."
Jared Tong - Tauranga
What is trading?
What is FOREX?
The Foreign Exchange market, also referred to as the "FOREX" or "FX" or "Spot FX" is the largest financial market in the world, with a volume of over $3.2 trillion a day. 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! The point of Forex is a big mean money moving machine.
What is traded on the Foreign Exchange market?
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, and are traded in pairs; for example the British pound and the US dollar (GBP/USD) or the Euro and the Japanese Yen (EUR/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.
In general, the exchange rate of a currency versus other currencies is a reflection of the condition of that country's economy, compared to the other countries' economies.