What is Forex?
Just a basic information about forex is:
FOREX - the foreign exchange market or currency market or Forex is the market where one currency is traded for another. It is one of the largest markets in the world.
Some of the participants in this market are simply seeking to exchange a foreign currency for their own, like multinational corporations which must pay wages and other expenses in different nations than they sell products in. However, a large part of the market is made up of currency traders, who speculate on movements in exchange rates, much like others would speculate on movements of stock prices. Currency traders try to take advantage of even small fluctuations in exchange rates.
In the foreign exchange market there is little or no 'inside information'. Exchange rate fluctuations are usually caused by actual monetary flows as well as anticipations on global macroeconomic conditions. Significant news is released publicly so, at least in theory, everyone in the world receives the same news at the same time.
Currencies are traded against one another. Each pair of currencies thus constitutes an individual product and is traditionally noted XXX/YYY, where YYY is the ISO 4217 international three-letter code of the currency into which the price of one unit of XXX currency is expressed. For instance, EUR/USD is the price of the euro expressed in US dollars, as in 1 euro = 1.2045 dollar.
-foreign currency=in economics, the term currency can refer either to a particular currency, for example the US dollar, or to the coins and banknotes of a particular currency, which comprise the physical aspects of a nation's money supply.
-stock prices=The cost of purchasing a security on an exchange. Stock prices can be affected by a number of things including volatility in the market, current economic conditions, and popularity of the company.
-global macroeconomic conditions=the forex trading rates bounce often when slight or grave changes are made all over the globe in a country's economy.
What benefits i gain from trading on forex market?
Well probably at the begining you won't earn money at all or probably by luck you earn some to buy some candy, but that doesn't mean you must be discouraged by me since it's possible to learn it and become more and more pro at this and if you keep it up you will probably have enough to buy a town , who knows?
Many , i mean MANY people are discouraged by the fact that forex has it's basics into economic changes, stats and analysis based on former dayly/monthly/yearly and other few important things and they think like this probably "Damn i really can't do this it's just too much" If you really want to make money you must not think like that no matter what if you decide to start this.
Thus my opinion is, if you start forex try virtual exchange first (means you use virtual money like $10 000 or so if the forex platforms wich you use has this option) and try to make like few trades per day after you put some thought into them. It is practically imposible to invest $3000 real money for example and expect double the money in 1 , 2 , 3 days or more if you are a beginner. So listen to my advice and Don't trade real money until you have few years of experience with hundreds of thousands of transactions. I found out this cool forex trading platform. Check it out, register and start trading. If you have any problems you can leave a comment below and i will to help in any way i can. I wish you good luck and have a great day.