Introduction to the Forex market
The foreign exchange market mainly deals in the trading of global currencies. Depending on currency projections, the currencies that are traded the most are Canadian Dollar, Australian Dollar, U.S. Dollar, Pound Sterling, Swiss Franc, Euro and Yen.
There are other currencies which are also traded but are done in smaller scale. The highest traded currency is U.S. Dollar. There are certain misconceptions regarding Forex market.
Contrary to popular belief there is no central market where all the currencies are traded. The market is a combination of many contrasting markets, each of which has their own set of rules and regulations. As Forex depends on currency projections, it becomes impossible to trade properly due to the difference in time zones.
That is why the major markets located in Tokyo, London and U.S are opened at different hours. Almost two thirds of the trading that can be followed by currency projections happens during the convergence of New York market opening and European markets are still operating
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