What Is FOREX and How to Take Part in it

If you think what you do is great, you ain't seen nothing yet. I'm an FX Trader".
Those were the words I heard over three years ago, and since then, regardless of how confrontational, competitive, or in-your-face they may of seemed at the time, I'm glad I heard them.
I was just introduced to what we will affectionately call, throughout this mini-course (seriously), "The World's Most Powerful Home based Business" (but a lot more on thattomorrow).Even though you, and I, have had the opportunity to take part in trading foreign currencies for profit (in the same way banks and large corporations do) since 1998, it is just now becoming the cool, hip, new "thing" to talk about at parties, business events, and other social gatherings.
Even though it HAS been somewhat of a loosely guarded secret, more and more investors are turning to the all- electronic world of FOREX trading for income and profit because of its numerous benefits & advantages over traditional trading vehicles, like stocks, bonds and commodities (stay tuned, for tomorrow's email, to get the inside scoop on this).But, still, whenever something SEEMS new or is just becoming a part of social conversation, news articles, and water cooler gossip, misconceptions have to be overcome, the mind has to be open and the slate has to be clear for starting out fresh with the CORRECT information.So, in this first Lesson, it is our attempt to give you some solid, but not over-detailed, information on just what the heck "FX" (FOREX) means, what it is, and why it exists.Plus, we wouldn't want you to be the one giving the blank stare, at the parties, when someone brings it up :-)If you'd like to make $_200 to $_3,000 for as little as ten minutes of work -- work that involves minimal risk, but plenty of upside potential -- then this ongoing email mini-course if for you.As a friend of mine said, "Trading FOREX is like picking money up off the floor. NOT trading FOREX is like leaving it there for someone else to pick up." Others in the industry have also said, "It’s like having an ATM machine on your own computer."
In this 20-part e-Course series, we will show you what they mean. Here's the all-steak, no-sizzle explanation (one we feel you'll appreciate) of what FOREX is and how traders, like us, profit from it:
The Foreign Exchange Market, also referred to the "FOREX" or "FX" market, is the spot (cash) market for currency.But, don't mistake what we're doing as trading the futures market, where you buy a contract to purchase a particular currency at a future price in time.What we do is much less risky than trading currencies on the futures market, much more profitable, and a lot easier, than trading stocks. [note: we'll tell you more about this, tomorrow, in Lesson #2]So, you're probably wondering where it's at ... or ... how to access the FX market?The answer is: FX Trading is not bound to any one trading floor and is not centralized on an exchange, as with the stock and futures markets. The FX market is considered an Over-the-Counter (OTC) or 'Interbank' market, due to the fact that the entire market is run electronically, within a network of banks, continuously over a 24-hour period.Yes, if that's the first time you've heard about an all-electronic market, we know this may sound somewhat intriguing to you.And, it should be, because it certainly is.Here's what you are actually trading when you participate in the Foreign Exchange (FOREX) market:Essentially, like the large banks who use the FX market to protect themselves from the fluctuating exchange rate of different currencies, as an investor, what we're doing is simultaneously exchanging one countries currency for another. So, in actuality, we're electronically trading a currency-pair and the price that is quoted to us is the exchange rate between the two currencies.If you just said, "Huh?" ...no worries, we've got ya covered with an explanation.In other words, simply the quoted price is how many of the one currency is worth 1 of the other currency.