I have started my journey into world of Forex. It is a learning experience and I will share it with you as I stated in this post on my Forex Blog. I will be posting as I learn and discover. here is an excerpt of what I wrote today.
Introduction to Forex (currency exchange)
Foreign Exchange Market is known with many names; Currency Market, Forex Market or FX Market. Obviously it is a market where people exchange currencies from different countries. Transactions are simple. People purchase a block of one currency by paying with a block of another currency. Naturally it is the most liquid market in the world. The daily volume of trade currently exceeds USD $5 trillion.
Major Players in the Market are:
Financial Institutions (Hedge Funds, Investment Firms, Brokers)
Major Forex Trading Centers
The Trading virtually goes on forever as the Asian trading session ends, the European session begins, followed by the North American session and then back to the Asian session. This 24/7 nature of market is only disrupted by weekends. So we can safely say that Forex Markets remain open from 5pm EST on Sunday until 4pm EST Friday.