Best Forex Articles for Beginners
1. Introduction to Forex Trading Forex, or foreign exchange, trading involves the buying and selling of currencies with the aim of making a profit. It is the largest financial market in the world, with daily transactions worth over $6 trillion. The central concept in forex trading is the pairing of currencies. For instance, when you trade the EUR/USD, you are speculating on the relative strength of the Euro against the U.S. dollar. Forex markets operate 24 hours a day, five days a week, making it a favorite among traders who want flexibility in their trading schedules. 2. Major and Minor Currency Pairs For beginners, it's essential to understand the difference between major and minor currency pairs. Major pairs include the most traded currencies globally, paired with the US dollar - like EUR/USD, USD/JPY, GBP/USD, and USD/CHF. These pairs are known for their liquidity and tight spreads. On the other hand, minor pairs do not include the US dollar but consist of other major currenc