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How forex trading work?

GIve me some basic knowledge about forex trading and how it works.

Public Response to How forex trading work?

  1. Forex (foreign exchange) trading is actually pretty similar to stock trading, except that you are trying to profit on the changes of worldwide currency exchange rates. For example let's say you bought 10 lots of the EUR/USD (which is the Euro versus the American Dollar) at an exchange rate of 1.4000 and the next week you sold it at a rate of 1.4100, you would have made a pretty good profit because most Forex brokerages give you 50 to 1 leverage or better to help amplify the tiny changes in the rates.
  2. Your best bet is to just do a search for forex on Yahoo - you'll find more than enough information to get you started...
  3. You have really got to know what exactly you are doing in order to profit in the Forex market. Forex is a market where currencies are traded daily. It goes up and it goes down often. You can never really tell FOR SURE unless a country is in turmoil or otherwise.Yes a lot of products say they can automate your earnings, but dont you think EVERYONE would be doing it if it were true? Lots can be made in Forex currency trading but there is a lot to learn first.