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The international currency market Forex is a special kind of the world financial market. Trader’s purpose on the Forex to get profit as the result of foreign currencies purchase and sale. The exchange rates of all currencies being in the market turnover are permanently changing under the action of the demand and supply alteration.

Retail traders or simply individuals also trade in the FOREX market. These form small part of the whole trading business. They participate indirectly through a bank or a retail FOREX broker. FOREX brokers or market makers as they are popularly called, manage a small fraction of the total volumes. As per the official news, these retail brokers take up around 2 to 3 percentage of the total trading, which comes to around 30 to 40 billion US dollars. New investors need to be very careful while choosing a broker for their investments; otherwise they might end up in FOREX scams.

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The forex market is considered to be one of the most highly profitable markets for one great reason - you are able to create superior technical analysis, which will therefore always increase your chances of making successful trades.

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The forex (short for foreign exchange) market is one of the largest independently governed markets in the world. No single country has a say in the way the forex market works and every day billions of dollars change hands in the forex market. Forex trading is possible 24 hours a day, 7 days a week, 365 days a year, and unlike the stock exchange the forex market does not close or open for trading. Interestingly, forex trading is based purely on trust; there are no clearing houses or guarantors involved. A forex trader is forced to keep his word not because he is bound by any legal contract but because he has a reputation to keep. Arbitration committees have been set up in most countries and forex traders accept decisions of the committee if any disputes arise. However, a trader is in no way legally bound to accept the arbitration committee’s decision

Kinds of prices and time units. Charts for the technical analysis are being constructed in coordinates “price (the vertical axis) – time (the horizontal axis)”. The following kinds of currency prices represented on charts are being distinguished on Forex:

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