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What is Forex?

Topics for this lesson:

a) Meet Your Instructor
b) The Immensity of the Market
c) The Concept of a Trillion

Meet Your Instructor

So you’re looking to trade Forex. Well recruit, you’ve come to the right place. This basic training is going to whip from you a complete noob into a lean mean pip-making machine.

Cast aside whatever you think you know about the financial markets. It’s my job to break you down and build you back up with the proper training you will need to go to war in the battlefields of the Forex market. I’ve seen the toughest of men put up a fight without proper training only to go home weeping to their momma.

Shall we begin?

Good. Take a seat. Grab a paper and pen. Take notes. And if I catch you dozing off on me I’ll make ya drop and give me twenty.

The Immensity of the Market

Before you go to war, you have to know the grounds on which your battle takes place. Our battleground is the foreign exchange market. You however, will commonly hear it be called, Forex, or more simply, FX.  It is the largest financial market in the entire world. No other financial battleground can rival the amount of volume the opposition brings to the table on a daily basis.

4 trillion dollars.

That’s a big number isn’t it?

$4,000,000,000,000 USD

Looks even bigger when it’s in numerical format.

The Concept of a Trillion

If you picked up the paper lately, you’d see a trillion dollars being talked about as if it was a dessert for dinner. However, recruit, let’s put this into a better perspective.

Let’s say I gave you a dollar a second. The only catch being you could only collect the money after it accumulated $4 trillion dollars. Being paid a dollar every second, you would finally be able to withdraw your money in 126,836 years.  You better start taking those vitamins if you plan on living that long!

I’m only stressing the enormity of this number for one reason. Every day, while the financial war is waged, $4 trillion dollars is traded on the Forex markets.  It is an enormous battlefield where billions of dollars are won and lost in a single day.

It is an arena where governments, multibillion-dollar hedge funds, and the world’s largest banks pit their finest warriors into battle. And then there’s you.

Don’t be scared recruit. I will tell ya know it’s a jungle out there and you will be eaten alive if you go in unprepared. And that’s why you’re here now. This basic training will provide you the armor and the weapons you’ll need to prepare yourself for battle.

More Lessons

1. Recruit - What is Forex?
2. Private - How does Forex Work?
3. Private First Class - Selecting a Broker
4. Corporal - Pick a Chart, Any Chart
5. Sergeant - The Fundie vs The Techie
6. Lieutenant - Strategize
7. Captain - Indicators
8. Major - Playing with Price Action
9. Colonel - Developing your Plan
10. General - Putting it all Together