What is Forex?

“Forex” is short for foreign exchange. Quite often you can meet Forex to be also abbreviated as FX.

Forex trading is quite simple: you buy one currency while simultaneously selling another - that is, you’re exchanging the sold currency for the one you’re buying. Your goal is to buy currency and resell it for a better price - this is where you or your trader or your Forex trading robot are making profits.

Forex trading is done by managed Forex accounts through Forex brokers. Forex accounts are essentially foreign exchange currency accounts. You employ specialized groups that can manage Forex accounts for you.

But in case you have the time and education to monitor currency markets - then you can trade yourself. This is how all Forex traders are doing.

Can One Make Money on Forex
Without Trading Education?

Well, it is better to have some education. But professional Forex traders invented a nice thing - called Forex robot.

These traders have created special software which is trading (according to the secret trading strategies of these traders) AUTOMATICALLY. You just sit and watch.

That does not mean you are making guaranteed income, because no guaranteed income is possible on Forex. But watch these trading records of one of the best robots - and you will have no questions about a robot to be possible to generate profits. Or another trading robot from the same guy (he is one of the stars of the currency market today).

So, Trading without Professional Knowledge is Possible

For every newbie trader - it’s very difficult to predict where a trend or the market will go ahead of time. People have made it their life’s work to try to figure out how to effectively predict market activities. They are using the results of fundamental analysis (overall analysis of the market, economic situation in the world, financial and political updates that influence the currency of a given country) and technical analysis (special indicators that help to correlate the future behavior of the market in specific situations).

You should also understand that Forex market is a complex entity which constantly reacts to the factors on the market and “absorbs” them, resulting in changes of the value for specific currencies.

This “organism” is highly volatile and one should understand that learning a strategy or system does not make one to understand what will happen on the market. That is why in general the aproach about finding “a strategy that works” is erroneous from the very beginning. There are no magic keys and silver bullets on the market; only professional traders with years of experience and clear vision of what is going on have real chances to make money on Forex.

That is why before you start doing any trades - be frank to yourself and make sure that you know the answer to “What is Forex” question in all details.