Forex, short for foreign exchange, is a worldwide market where traders are able to exchange one currency for another. An investor who has pounds, yen or other foreign currency can trade them for dollars, while investors who have American money can trade it for foreign currency. The idea is to trade weaker currency for stronger currency in order to make a profit. If the dollar happens to be stronger, there’s a lot of profit in it.

Keep an eye on all of the relevant financial news. Speculation is the name of the game, and the newsmedia has a lot to do with that. Try setting up a system that will send you a text when something happens in the markets you’re involved in.

Currency Pair

Choose a currency pair and then spend some time learning about that pair. Don’t spend endless hours doing research. Some things you have to learn …