To put things simply, Foreign Exchange (FOREX) Trading is the buying and selling of international currencies. Just like any other work you engage in, you need to have a basic knowledge on what makes the industry work and how it works, in order to make decisive analysis and intelligent decisions on each transaction. If you do not have any idea on the matter, there are courses that are available to help you.
FOREX trading courses will typically train you using the US dollars (USD). Since USD is a major currency, it is easy to use as your base currency for trading, especially as you gain experience in the industry. As you slowly gain more time in trading, you will be taught how to use other currencies, and how to find interests that would allow you to gain more profit. By getting acquainted with the market, you will know which currency to select to engage in trades.
You will also be able to calculate the pip, which is the increment in the difference between two currencies. For example, the exchange rate for USD and the Japanese Yen (JPY) on this trading day is 1 USD to 130.49 JPY, and tomorrow it rises to 130.55 JPY per USD. The pip is 0.06. By knowing how to compute these differences, you are able to calculate the profit or the risk you will be making when trading in large quantities.
Combining the basic knowledge from the courses you take and the experience you gain in engaging in actual trading and making accurate computations will help you make expert analysis on trading behaviors. This will allow you to advice your clientele to make wise decision on which transactions to engage in, helping your reputation in the FOREX industry.