Forex ( foreign exchange ) it's a broad industry where currencies are traded during week days. What basically happens it's actually exchanging currencies buy either buying/selling a currency depending on it's strength in relation to other currencies... A well exposed retail trader is more interested in knowing which currency is weak/strong and then take advantage of that information to make good profit. As a beginner, you may be confused by the terminology but knowing all that, it doesn't make an individual a good trader... Only discipline and patience make you successful in the forex industry, you can only understand this part when you're trading for financial gain. You don't necessarily have to know the theory behind forex trading but instead know what can help you to minimise risks, as for profit discipline and patience will do...
By: Dish
