Forex for Beginners

Abbreviation of "FOREX" stands for Foreign Exchange, an exchange of currencies. When a person comes to trade currencies, e.g. buy one currency and sell another one - it is called currency exchange trading, or simply known as Forex.
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Because the value of each currency always on the move, it fluctuates depending on the local and global economic factors, there is always an opportunity to profit on those changes/fluctuations - it is called currency speculation.
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Euro, US dollar, Swiss Frank, British Pound and Japanese Yen - these are the most traded currencies in Forex. Of course, trading is not limited to those currencies, Forex offers variety of currencies one can trade.
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If to describe in simple words how individuals trade Forex it would look next way:
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Forex trading in its prevailing volume is done online.

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A person finds a Forex broker, opens a trading account with the broker and deposits money.
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Forex broker provides to trader so called Forex trading platform - an application, a working environment, where trader buys and sells currencies, dealing online - in other words he speculates to make money on the difference of currency rates.
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In Forex currencies are traded in pairs.
EUR/USD, GBP/USD, AUD/JPY, USD/CHF and so on.
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The first currency in the exchange pair is referred to as the base currency and the second as the quote currency.

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For example, EUR/USD exchange rate = 1.400
Here the price of the Euro is expressed in US dollars: 1 euro = 1.400 dollars
The exchange rate tells to trader how much of the quote currency should be paid to obtain one unit of the base currency.
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A Quick Overview of FOREX
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FOREX is a spot market, where foreign currencies are traded - bought and sold for profit.
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FOREX is a worldwide currency speculation arena with no centralized place for trading and exchange.
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FOREX is a huge market with trillions dollars turnover a day and the largest investors - banks, hedge funds, investment companies and so on.
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FOREX is open to individual retail investors - Forex traders - through the services of Forex brokerage companies that provide an access to the currency exchange market and take care of buying and selling orders of their clients.
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FOREX is a 24 hour market that is traded every day all year round, except for holidays.
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FOREX allows trading over 150 foreign currency pairs, among which the most traded are: EURUSD, GBPUSD, USDJPY, AUDUSD, USDCHF, USDCAD and GBPJPY.
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FOREX trading is based on technical (price charts) and fundamental (news, economic events) analysis.
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FOREX is an online stay-at-home type of business for individual investors.
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FOREX is an attractive financial instrument, which can be mastered by any person with any kind of education and/or social status.
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FOREX is a type of market which nowadays can also be traded by automated online expert advisors without any human intervention.
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FOREX is an alternative type of investment, which unlike any other investment carries one of the largest financial risks.
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FOREX is a trading arena, where in order to succeed a trader needs to learn the rules of the market, its trends, moves and behavior, and be able to apply the knowledge under real trading conditions.
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FOREX is difficult to trade without a trading method - a trading strategy or system.
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FOREX is a fast growing industry, and by directly dealing with money it also became a lucrative business to various scam dealers. Novice traders should be alert about any offers in Forex which sound too good to be true.
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Finally, FOREX should never be associated with quick and easy money.

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Be very careful, and be more patient be success in forex!!