This video will be an all-inclusive completely comprehensive beginner's guide to Forex trading. If you're someone who's just starting out in Forex trading, then this will give you everything you need to know, to understand the basics of Forex and take that next step down your path to becoming a profitable trader. If you're someone who's already trading, then chances are you probably skip these steps, right? And that's a shame because if you skip these steps, then it's going to be nearly impossible for you to become a profitable trader without the things I'm going to show you in this lesson. So whether you're beginning your Forex trading career or someone who's already been trading, let's make sure that you have a solid foundation with today's video on the basics of Forex. So with that being said, I'm going to let the intro and disclaimer, roll while I do hit that subscribe button hit that like button for me. Go ahead and follow us over on Instagram at the trading channel. Now I'll be right back to share with you the most comprehensive beginner's guide to Forex on YouTube. See you in a second.

What's up and welcome to the complete beginner Forex training course in this course, you'll learn everything you need to know to begin your journey as a Forex trader. The first question we're going to ask is the most simple question possible, which is what is Forex. So Forex is actually the largest market in the world. And what does that mean? How big do you have to be, to be the largest market in the world will on an average trading day, the Forex market trades 5 trillion with a T dollars. That is a large amount of movement for one trading day $5 trillion. That's insane. So that's why the Forex market is the largest market in the world. Now, another thing you need to realize about the Forex market and the second thing we're going to go over as that in the Forex market, what you're trading is called a currency pair, a currency pair is nothing more than the exchange rate between two currency currencies.

We've all had to exchange money before if you've traveled, at least maybe you haven't, but if you've traveled outside of the country, you live in, you've probably exchanged money for another currency. For instance, if you live in the United States and you take a trip to Europe, then you more than likely we'll exchange some of your us dollars for European dollars. And that rate, the rate of exchange is what you'll get back. For instance, right now the Euro dollar exchange rate is 1.0878. So let's just write this down the Euro against the dollar right now, or the Euro dollar exchange rate is 1.0878.

So that means that if you were to go to Europe right now and you wanted to get one Euro, then you would have to give $1.0878 to get that one Euro, because right now one Euro is worth $1.0878. Now the way we make money in the Forex market, remember we're trading based on the exchange rate between two different currencies. And the way you actually make money is when this exchange rate rises and falls. So these exchange rates fluctuate depending on the strength and valuation of each of these currencies, the Euro and the dollar. So if the Euro rises in value, then it's going to take more dollars for you to get one Euro. The same thing, if the dollar. So let's say that Euro goes up in value. Let's just start here. The Euro goes up in value. Then you're going to need more than $1.0878 to get one Euro.