The Foreign Currency exchange market is the most liquid in the world with over four trillion dollars now transacted daily.
Compare this to the New York Stock Exchange, which has a daily turnover of around US$50 billion and it’s easy to see how the foreign exchange market is the biggest financial market in the world.
Essentially, Forex trading is the act of simultaneously buying one currency while selling another, primarily for the purpose of speculation. Currency values rise (appreciate) and fall (depreciate) against each other due to a number of factors including economics and geopolitics. The common goal of Forex traders is to profit from these changes in the value of one currency against another by actively speculating on which way Forex prices are likely to turn in the future.
So how do we know what currency pair to trade and when to enter and exit a position? Well we can learn to study charts and the art form that is technical analysis and we can also use software that automates some of these decisions called an EA (Expert Advisor) and this is what Trader Joe Forex (TJFx) is about.