As with any financial instrument (stocks, bonds, futures, mutual funds, etc.) there is a risk in trading these markets. The key to trading is proper education, a good trading plan (and system), and strict money management rules. Utilizing a combination of these components, trading the Forex market can be very rewarding.
What are the major currency trading pairs?There are quite a few currency pairings available to trade on the Forex market. Some, however, are much better suited for traders than others. The most well known currencies traded are: United States Dollar (USD), Australian Dollar, Japanese Yen, British Pound, Swiss Francs, Canadian Dollar, and the Euro Dollar. The most common pairings (often called the Big Six) are: the Euro Dollar vs. the US Dollar (EUR/USD), the British Pound vs. the US Dollar (GBP/USD), the Australian Dollar vs. the US Dollar (AUD/USD), the US Dollar vs. the Japanese Yen (USD/JPY), the US Dollar vs. the Swiss Franc (USD/CHF), and the US Dollar vs. the Canadian Dollar (USD/CAD).
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