Trading Currency Pairs

What actually takes place when you trade Forex? What does it mean when we talk about "currency pairs"? How do currency pairs work?

The concept of Forex trading can be a little tricky to grasp. Trading stock involves the buying and selling of a piece of a company while Forex trading involves buying a portion of a country’s currency.  The price of one currency in a currency pair is measured against another currency.  It’s like going to the bank and exchanging a dollar for a euro. You are selling your dollar and buying a euro or a part of a euro.
The Euro/US Dollar is a currency pair.

This lesson will go into more detail regarding the currency pairs list.

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