Today I begin a new adventure, a new hobby.  I signed up for a 30 trial at Forex.  I have always had an interest in the Foreign currency market, however, I am a newbie.  I have no idea what I am doing and have decided to document my trials and tribulations.

After searching the site and making an attempt to figure this foreign currency trading out, I must admit that I am happy with the 30 day Practice Trading.  The way I am looking at it, is I have nothing to lose.  At least not for the next 30 days.  If all goes well, I very possibly will begin my hand at real money trading, however, if in the end, I have no idea what I am doing or am losing my practice money (or even just breaking even) I will call it a day.

From this point forward, I will post updates as to what I have learned or discovered, either through the Forex website or online forums and additional research. 

So far, I already know that currency trades in pairs, Euro to US Dollar, US Dollar to Yen.  And that some of the "majors" are the Yen, British Pound, US Dollar, the Euro and Australian Dollar, just to name a few. 

There are two steps in reading a foreign exchange currency; 1. The first currency is the base currency, 2. The base currency is always valued at 1.  The US Dollar is usually considered the base currency for quotes.  Currency pairs that do not include the US Dollar are called Cross Currencies.

I am going to let this information absorb.  Check my email and complete the Practice account information and download and try to remember the basics of Forex. 

Until further trading.....