Trading on the Forex market is complex and risky but some simple principles and news to watch can help demystify the process. The foreign exchange market, commonly called the Forex or FX market, is popular with speculators because of its enormous size, liquidity, and the tendency currencies have to move in strong trends, according to Dr. Glen Brown in The Principles of Foreign Exchange Trading.
“Unlike other financial markets, investors in FX can respond to currency fluctuations caused by economic, social and political events day or night as the market is open 24 hours a day,” Brown said. “Trading begins each day in Sydney and continues uninterrupted throughout the day as major financial centers around the world open their books.”
The decentralized FX market is considered an Over The Counter (OTC) or 'interbank' market, because transactions are conducted directly between two counterparts, not on an exchange, as with the stock and futures markets, Brown said.
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