The word forex is an interesting word and the first thing you visualize is "$". It is an exciting symbol depending from where you are coming from. The market is riddled with such a symbol that this is the only market which generates more than $5 trillion a day. (sijui kama the Kenyan Central Bank reserves can hold that - or any politician can eat that and go unnoticed.)
What is Forex?
Forex is short for Foreign Exchange or FX, a bougie term is currency trading. It's something they will never teach you in class - unless you´re a business major (na bado hauta shika kitu). It's the largest liquid decentralized global market in the world where people and not robots trade with each others' currencies.
Why trade Forex?
To be filthy rich and flex. Be self dependent and quit that annoying 8 to 5 job. Travel and party like there is no tomorrow? (manze hio ni the dream). The why primarily - is to make money. Its the only means that this world's language can understand. Enough of the humor, the reasons are good, it has low transaction costs unlike stocks, leverage and its accessible by anyone. Yes. You can be a trader.
When can you trade Forex?
(Umewai sikia gikomba or any other soko ina-run for 24 hours?) The forex market is the only market that never sleeps: 24 hours 5 days a week and on the weekends it lets you party (kama umepata profit) or lets you drown in a pool of tears (kama umekua on a losing streak - it will happen). The market has four sessions namely from Sydney - AUD, Tokyo - JPY, London - EUR/GBP and New York - USD.
Who can trade Forex?
Did I mention that it's the largest liquid decen... oh my bad, I did. Well millions of people (including you, someday) participate in trading currencies every day (hence the $5 trillion) and later in my blog I will break down this group of people and show you who has the most influence in the market and how you can avoid them.
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