Many have tried, many have failed. Forex is the Floyd "Money" Mayweather of financial trading. It suckers in neophyte traders with promises of riches and then quickly gives them a beating. Although, the biggest competitors in Forex are the major banks, it is ourselves and our need for instant gratification and action that truly destroys us.

If you want to try your hand at Forex, but don't want to risk big dollars, try mini Forex trading, which is a perfect way to trade in the major currency pairs, without risking your nest egg before you know what you're doing.

Many individuals play the forex market not for the exciting environment, but for the profitable outcome - or rather potential profitable outcome. It is a stressful setting filled with many 'ups and downs' moving at highly treacherous speeds. However, as is aforementioned it can be rather lucrative thus making the stress worthwhile; but, if you are not fortunate enough to experience positive trading, copious amounts can be lost.

Foreign exchange rates affect not only a country’s economy, but also the average man in the street. If you purchase a foreign item or you travel internationally, you are involved in this massive financial market. Most individuals are normally affected by the exchange rate when they travel. It is not possible for you to pay for goods or services in Europe with a US dollar. Before you travel to Europe, you will have to convert some of your US dollars for Euros, or you can obtain Euros when you arrive in Europe.

With the crazy markets of today it is very important for investors to diversify and keep their eyes open to new markets. One of the biggest markets right now is forex. What is forex? it stands for FOR-eign EX-change. It is basically the trading of one currency to another.

These are forex accounts that are not traded by you, but by a money manager on your behalf. This is a similar situation to employing an investment advisor to trade equities and bonds on your behalf. It is suitable for use if you do not have sufficient knowledge or time to trade yourself. Many traders do not want to learn the often complex and intricate mechanisms of this large financial market. Individuals who prefer having a professional manage their funds would prefer this type of account.

It is my belief that Forex is hands down the best market for new traders. When everyone thinks about trading, they automatically think about the Stock exchange. What they don't understand is that it cost a lot of money to actively day trade the stock market. By law, the SEC, requires a large minimum balance for day traders.

You have probably heard about Forex trading before but how much do you really know about this market? A lot of novice traders start investing on Forex without really knowing what they are doing and end up losing money. Do not make this mistake and learn about Forex trading before you invest on this market.

I have named this article, " Watch the tricks that the banks play." If you have noticed, the Forex market is a trillion dollar spot market and the bulk of that money is not coming from retail traders like you and I. It's not coming from a bunch of guys who discovered Forex trading over the Internet. The majority of the money, something like 99% of it, comes from huge global banks and businesses.

There is no marketplace for foreign exchange trading, hence it is necessary for traders to use a broker to help them in their trades. There are many brokers in the market, but choosing the right one requires caution as it can become quite overwhelming to decide on the most suitable broker.