The foreign exchange market, also known as forex, FX, or currency market, is a global, worldwide decentralized financial market for trading currencies where all transactions happen via phone or electronic network. Openned from Sunday 5 PM ET to Friday 5 PM ET, with average
daily turnover of US$3.98 trillion, Forex is the most traded market in the world.
In a typical foreign exchange transaction, a party purchases a quantity
of one currency by paying a quantity of another currency: this is called
opening a position. As price (rate between two currencies) fluctuates in time, position is gaining or losing money.
When closing the position, you are making opposite transaction:
the positive difference in price you bought and sold currency is profit you gained on the transaction.
