FX-Forex

FX—FOREX     

          You may be familiar with or have heard the term foreign exchange market, which is known as the spot forex or FX market or foreign currency market. It is an over-the-counter foreign currency market. You can trade foreign currencies against the dollar, which is knows as the cross, such as the euro currency versus the U.S. dollar; or you can trade pairs, which is two separate foreign currencies traded against each other, such as the euro versus the Japanese yen. It is a 24-hour marketplace in which most companies do not charge commissions; rather, a spread on each side of the bid-and-ask of a trade is taken. Traders like this feature because they feel it is a “pay as you go” cost of doing business.

This book will go into explaining several investment vehicles, such as stocks, futures, options, and forex. I want you to realize that the technical trading patterns, setups, and triggers I will teach and explain in this book are applicable to all of these trading vehicles.