Forex School: What is forex

What is forex?

The Foreign exchange market is a form of exchange for the global decentralized trading of international currencies. Financial centers around the world function as anchors of trading between a wide range of different types of buyers and sellers around the clock, with the exception of weekends. The foreign exchange market determines the relatives value of different currencies.
If you've ever traveled to another country , You usually had to find a currency exchange both at the air port ,and then exchange the money you have in your wallet into the currency of the country you are visiting.
You go up to the counter and notice a screen displaying different exchange rates for different countries. You find "Japanese Yen" and think to yourself, Wow! My one dollar is worth 100 yen? and i have 10$ ! I'm going to be rich!!
When you do this, you've essentially participated in the forex market. You've exchanged one currency for another, Or in the forex trading terms assuming you're in American visiting Japan .You've sold dollars and bought Yen.
Before You fly back home, You stop by the currency exchange both to exchange the yen that you miraculously have left over (Tokyo is expensive!) and notice the exchange rates have changed.It's these changes in the exchanges rates that allow you to make money in the foreign exchange market.

The foreign exchange market which is usually known as "FOREX" or "FX" is the largest financial market in the world. Compared to the measly $22.4 billion a day volume of the New York stock exchange, The foreign exchange market looks absolutely ginormous with its $ 5 Trillion a day trade volume.