Introduction To Forex trading

I will start off with a nice intro, a one that will give insight to even a newbie on Forex trading

It would be in your best interest to acclimatize yourself to the basics of Forex Trading before taking the plunge as it possesses huge risks and opportunities as well. Its the largest and most liquid market of the world

A glossary is also provided at the bottom of this article for assistance to newbies 
Overview 
Foreign exchange, forex or just FX are all terms used to describe the trading of the world's many currencies. The forex market is the largest market in the world, with trades amounting to more than USD 1.5 trillion every day. Most forex trading is speculative, with only a few percent of market activity representing governments' and companies' fundamental currency conversion needs. 

Unlike trading on the stock market, the forex market is not conducted by a central exchange, but on the “interbank” market, which is thought of as an OTC (over the counter) market. Trading takes place directly between the two counterparts necessary to make a trade, whether over the telephone or on electronic networks all over the world. The main centres for trading are Sydney, Tokyo, London, Frankfurt and New York. This worldwide distribution of trading centres means that the forex market is a 24-hour market.