| Forex market had its genesis in 1971, the date when | | | | 22:00 GMT. Trading first begins at Sydney and |
| the international trade altered from fixed to floating | | | | moves around the world as day starts from Tokyo |
| exchange rates enabling trading volume and market | | | | to London and finally New York. This financial market |
| dynamics to determine fluctuations. Forex is the | | | | also allows investors to respond immediately either |
| acronym of the term Foreign Exchange. The main | | | | day or night to minute currency fluctuations and thus |
| purpose of this exchange was to assist international | | | | making their cuts. |
| trade and investment by allowing businesses to | | | | Trading takes place in currency pairs like US Dollar - |
| convert into the currency of their choice. It accounts | | | | Pound or Japanese Yen and Euros. Around 85% of |
| for about 5% of the total transactions, where by | | | | the forex transactions that works out in these |
| the major 95% in forex depends on the speculation | | | | following seven currencies are also collectively called |
| for profits. | | | | as "The Majors" that includes US Dollar, Euro, British |
| Today, trading in forex market is more viable | | | | Pound, Japanese Yen, Swiss Pound, Australian Dollar |
| investment than any other financial options like shares | | | | and Canadian Dollar. A supply and demand fluctuation |
| or real estate since it is a financial market with the | | | | deliberates change in the forex. This fluctuation is in |
| highest liquidity. Forex transactions account for $ 3.2 | | | | turn affected by three factors: economic changes, |
| trillion per day and this includes all the international | | | | political conditions and market psychology. Forex is |
| currencies. A sharp financial acumen of currencies and | | | | the only market that encompasses and condenses |
| a fundamental and technical analysis of the economic | | | | perceptions of the world and allows these changes |
| scenario are mandatory before dabbling in the | | | | to affect it. Forex trading does not require an |
| market. Transactions take place from all over the | | | | exorbitant initial investment and can be enviable |
| world via phone or internet continuously from Sunday | | | | source of additional income or a good principal job. |
| night around 21:15 GMT to Friday afternoon around | | | | |