New To Forex? Learn All You Need In This Beginners Guide To Forex Trading.

So you’ve heard about the Forex being the Largest Financial Market in the World, open 24 hours a day and your heard is already spinning with the thoughts of how much Money you could make within couple of days but you still need to Learn more about How to Trade the Forex Market and so you need a Beginners Guide To Forex Trading, Right? well you’re at the Right place.

In this Beginners Guide to Forex Trading I’ll try to explain to you what the “Forex” short  for Foreign Exchange Market is and introduce you to the Jaw Breaking Lingo and Terminology you’re likely to some across on your quest to become professional Forex Trade. Alright enough talking, Let’s get down to business.

What is Forex Trading? 

Forex short for Foreign Exchange Trading refers to the simultaneous Buying and Selling of currencies. The “Forex” being a short for Foreign Exchange is a special kind of Global Financial Market, where the main goal of Traders is to make profits by the sale and purchase of Foreign Currencies.

The round the clock business hours of the Foreign Exchange Market due to its Global Nature helps Traders to trade at their own convenience but don’t mistake this as all the 24 Forex Trading Hours in a typical trading day to provide good trading opportunities.

The exceptionally High Level of Volatility and Liquidity in the Forex Market make it a choice vehicle for substantial profits in record time as compared to any other market in the world, thus making it the Largest Global financial Market.

Just like in any other market the huge profit potential is essentially a risk bearing one but after gaining the necessary Forex Trading Education and Trading Experience. First hand from familiarizing yourself with the markets, trading because a lot easier and more like a reflex type thing.

Let’s move on to understanding the common Forex Trading Lingo and Terminologies you are likely to come across trading the markets.

• Currencies : This refers to the traded instruments in the Forex Market since every country has a particular currency that is nationally accepted for business (e.g. United States of America= US Dollars, Great Britain = British Pounds etc.) different countries have different currencies. Their symbols and Nicknames in the Forex are shown in the Table Below.

Currency	Symbol	Nickname
Great Britain Pound	GBP	Cable
US Dollar	USD	Greenback
New Zealand Dollar	NZD	Kiwi
Euro Members Euro	EUR	Fibre
Japanese Yen	JPY	Yen
Swiss Franc	CHF	Swissy
Canadian Dollar	CAD	Loonie
Australian Dollar	AUD	Aussie

• Base Currency : The Base Currency is the First Currency in any Currency Pair Quotation. The Base Currency is what is measured Against the Primary Currency (Second Currency) in any Currency Pair, for instance the GBP in the GBP/USD Currency Pair, the GBP is the Base Currency.

If the USD/CHF Rate is at 1.6350 the one USD is worth 1.6350 Swiss Franc in the Foreign Exchange Market. The USD is normally considered the Base Currency for quotes, meaning that quotes are expressed as a unit of $1 USD per the other Currency in the Currency Pair.

The primary exception to this rule are the GBP, EUR,AUD and the NZD.

• Quote Currency: The Quote Currency is the Second Currency in the Currency Pair   

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