Who is involved in FOREX?
You might ask yourself who is involved in currency trading. The participants of FOREX are central and commercial banks, multinational corporations, institutional investors, governments, hedge fund and private individuals like you.
What is traded in FOREX?
Foreign (currency) exchange speaks for itself. Like in all markets, you simultaneously trade one thing for another. Same goes for Forex where the "things" are currencies of different countries – you buy one currency (in other words money) and sell another at the same time.
Objectives of FOREX
You are a FOREX trader and your objective is to make money by trading one currency for another and then wait for the price to change so that the currency you bought will increase in value compared to the one you sold (and not the other way around!)